U.S. Hydrogen Fueling Station Market Size, Share & COVID-19 Impact Analysis, By Type (Small Station {Low Pressure and High Pressure), Medium Station (Low Pressure and High Pressure), and Large Station (Low Pressure and High Pressure), Country Forecast, 2023-2030

The U.S. hydrogen fueling station market size was worth USD 32.17 million in 2022 and is projected to grow at a CAGR of 35.46% during the forecast period. 

Hydrogen fueling stations are crucial infrastructure for developing and deploying hydrogen fuel cell vehicles (FCVs). These stations play an important role in facilitating the adoption of hydrogen as a clean and sustainable energy source for transportation. The increasing concern over climate change and the need to lower greenhouse gas emissions has increased the interest in cleaner energy options. Hydrogen fuel cell vehicles offer a zero-emission transportation solution, making them an attractive option for policymakers and governments aiming to meet their carbon reduction targets. Many governments around the world are supporting the development and deployment of hydrogen infrastructure as part of their efforts to promote clean energy and reduce carbon emissions. The growth of hydrogen fueling stations is closely tied to the adoption of fuel cell vehicles during the forecast period. As more automakers develop and commercialize FCVs, the demand for hydrogen fueling infrastructure rises to support the expansion of the vehicle fleet.

The pandemic has prompted industries to collaborate and innovate. The hydrogen sector may have seen advancements in technology, business models, and partnerships aimed at overcoming challenges and promoting the growth of fuel cell vehicles.

LATEST TRENDS

Continued Expansion of Hydrogen Fueling Infrastructure to Drive the Product Demand

Governments, energy companies, and automotive manufacturers are likely to continue investing in the development of more fueling stations to support the growing fleet of fuel-cell vehicles. As the number of fuel cell vehicles on the roads grows, the need for hydrogen fueling stations also increases. Automakers and fleet operators are more likely to invest in fuel cell vehicles when they know sufficient refueling infrastructure is available. Hydrogen fuelling station requires choosing a suitable location based on factors such as accessibility, proximity to major roads, and compatibility with local zoning regulations. Ensure the site has the necessary infrastructure for utilities like electricity, water, and gas. A robust network of fueling stations also encourages more players to enter the market, driving up the demand for hydrogen fueling stations.

DRIVING FACTORS

Advancements in Hydrogen Technology to Drive the Market Expansion

Advancements in hydrogen technology play an important role in driving the demand for hydrogen fueling stations. As hydrogen technology enhances and becomes more effective, reliable, and cost-effective, it improves hydrogen's complete viability and appeal as a clean and sustainable energy source for several applications, including fuel cell vehicles. Technological advancements have led to a notable reduction in the production and distribution costs of hydrogen. As costs decrease, hydrogen fuel prices become more competitive with conventional fuels, making fuel cell vehicles economically more attractive to consumers. Technological advancements have enhanced the purity of hydrogen gas, ensuring higher quality and safety standards for fuel cell vehicles. The implementation of enhanced safety measures at fueling stations, such as improved leak detection and emergency shutdown systems, further strengthens confidence in the technology’s safety and reliability. Fuel cell technology is utilized in the design of hydrogen dispensers at fueling stations. These dispensers use fuel cells to provide a controlled and efficient flow of hydrogen to fuel cell vehicles. They ensure accurate measurement and safe dispensing of hydrogen to vehicles.

RESTRAINING FACTORS

High Infrastructure Cost to Restrain the Hydrogen Fueling Station Market Growth

Building a hydrogen fueling station involves outstanding capital investment. This comprises costs for land acquisition, construction, equipment, safety systems, and compliance with safety and environmental regulations. This high upfront cost can be a barrier for businesses and governments to invest in large-scale deployment of fueling stations. Such factors are set to hamper the U.S. hydrogen fueling station market growth.

The relatively small number of fuel cell vehicles compared to conventional internal combustion engines has limited the economies of scale in this market. With a limited customer base, the cost per station remains high, making it difficult to compete with traditional fossil fuel-based refueling stations.

SEGMENTATION

By Type Analysis

Based on type, the market is segmented into small station (less than 1 t/d of H2) {low pressure (350 bar), high pressure (700 bar)}, medium station (1-4 t/d of H2) {low pressure (350 bar), high pressure (700 bar)}, large station (more than 4t/d of H2) {low pressure (350 bar), high pressure (700 bar)}.

The small station (less than 1 t/d of H2) segment accounted for the largest share owing to several factors such as cost efficiency, easier deployment in urban areas or regions, and its potential to serve niche markets or specific applications. Small stations offer scalability and flexibility in deployment. They can be deployed quickly in response to growing demand or market developments, permitting stakeholders to test the viability of hydrogen fueling in new areas before committing to larger investments.

KEY INDUSTRY PLAYERS

In terms of the competitive landscape, the U.S. hydrogen fueling station market share depicts the presence of established and emerging hydrogen fueling station companies in the U.S. Some of the other companies with a considerable presence in the U.S. market include Air Liquide, FirstElement Fuel, Inc., Air Products and Chemicals, Inc., Linde Engineering, Nel Hydrogen, Plug Power, One H2, FuelCell Energy, Inc., McPhy Energy, and Proton OnSite.

These companies are forging partnerships to strengthen their market positions. For instance, In February 2023, Air Liquide partnered with Total Energies to progress a network of around 100 hydrogen stations for heavy-duty vehicles. Considering another instance, in March 2023, FirstElement Fuel partnered with Hyundai Motors to fuel and test Hyundai Motor’s XCIENT Fuel Cell Heavy Duty trucks in California.  

LIST OF KEY COMPANIES PROFILED:

• FirstElement Fuel, Inc. (U.S.)


• Air Products and Chemicals, Inc. (U.S.)


• Linde Engineering (U.S.)


• Nel Hydrogen (U.S.)


• Plug Power (U.S.)


• One H2 (U.S.)


• FuelCell Energy, Inc. (U.S.)


• McPhy Energy (U.S.)


• Proton OnSite (U.S.)


• Air Liquide (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• June 2023 – NEL Hydrogen received a firm purchase order from a U.S. Energy Company for the transportation of 16 hydrogen fueling stations to be positioned in California, U.S. The total value of the purchase order was around USD 24 million, comprising the formerly declared capacity reservation agreement fee of around USD 7 million.


• January 2023 – Plug Power declared a long-term strategic partnership with JM to speed up the green hydrogen economy. This partnership would help the company achieve its revenue targets of USD 5 billion and USD 20 billion by 2030.


• August 2022– Linde launched the world’s first hydrogen refueling station for passenger trains. Linde’s hydrogen refueling system. This facility enabled each train to run for about 1,000 kilometers emission-free on a single refueling.

REPORT COVERAGE

The U.S. hydrogen fueling station market report provides a detailed analysis of the market. It focuses on key aspects such as an overview of the technological advancements, the prevalence of this industry in the U.S., and pricing analysis. Additionally, it includes information about new product launches, key industry developments such as mergers, partnerships, acquisitions, and the impact of COVID-19 on the market. Besides this, the report also offers insights into the market trends and highlights key industry dynamics. In addition to the aforementioned factors, it encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation