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Asia Pacific Hydrogen Refueling Station Market Analysis

  • Report ID: GMI6759
  • Published Date: Sep 2023
  • Report Format: PDF

Asia Pacific Hydrogen Refueling Station Market Analysis

Asia Pacific Hydrogen Refueling Station Market Size, By Station Size, 2021 - 2032, (USD Billion)

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Small size hydrogen refueling station market was value at USD 1.9 billion in 2022, on the account gaining traction as a clean energy solution and increasing awareness among the consumers. Collaborative efforts to create international hydrogen corridors for long-distance travel along with ongoing research and development are leading to advancements in HRS technology will drive the business trends. Thereby, paradigm shift towards the introduction of environment friendly fuel sources have significantly inclined the users interest toward low emission & renewable hydrogen solutions.
 

Asia Pacific Hydrogen Refueling Station Market Revenue Share, By Station Type, 2022

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Fixed hydrogen refueling station market is set to reach USD 11.3 billion by 2032. Rising deployment across the developing economies of the region coupled with provision of financial incentives and subsidies to promote the installation will sway to industry scenario. Moreover, many fixed HRSs are incorporating renewable energy sources, such as solar and wind, to generate clean hydrogen through on-site electrolysis, thereby enhancing the product demand. The production aligns with sustainability goals and reduces the carbon footprint of the hydrogen supply chain, further driving the Asia Pacific hydrogen refueling station market outlook.
 

Passenger cars market is projected to observe more than 18% growth rate up to 2032, on the account of automotive industry exploring cleaner and more sustainable transportation options. Ongoing expansion of hydrogen fueled vehicles in the urban and intercity locations to accommodate the daily commuting and long-distance travel needs will contribute to the business scenario. Technological advancements along with significant focus on the safety measures will enhance the reliability, thereby strengthening the product adoption. Additionally, surging public and private partnerships in line with advancements in efficiency and cost-effectiveness will foster the Asia Pacific hydrogen refueling station market growth.
 

China Hydrogen Refueling Station Market Size, 2021 - 2032, (USD Billion)

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China hydrogen refueling station market will grow at a CAGR of over 19.8% through 2032, fueled by modern technological advancements. Ongoing government efforts for the development of the hydrogen industry, including the HRS infrastructure will augment the industry landscape. Financial incentives, subsidies, and supportive policies are further driving investment in the business. For instance, the country's 14th Five-Year Plan includes ambitious targets for hydrogen fuel cell vehicles and HRS installations. Therefore, continuous investment in infrastructure and technology will further boost the industry potential.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market valuation of hydrogen refueling station in Asia Pacific was exceeded USD 3.68 billion in 2023 and may reach over USD 16.8 billion by 2032, due to the influx of stringent government norms to curb the carbon emissions in the region.

Asia Pacific small size hydrogen refueling station market reached USD 1.9 billion in 2022, on the account of the rising demand for clean energy solution and increasing consumer awareness.

China hydrogen refueling station industry size will record more than 19.8% CAGR from 2023 to 2032, owing to the ongoing government efforts for the development of the hydrogen sector, including the HRS infrastructure.

Air Liquide, Air Products & Chemicals, Inc., Shell, China Petrochemical Corporation, Jakson Group, Plug Power Inc., Nel ASA, Linde plc, Iwatani Corporation, ENGIE, HyundaiHydrogenMobility AG, and Cummins Inc.

Asia Pacific Hydrogen Refueling Station Market Scope

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  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 203
  • Countries covered: 5
  • Pages: 250
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