Hydrogen fuel is experiencing a global surge, with significant advancements in infrastructure, technology, and industrial applications. As of 2024, the hydrogen fueling station market is projected to grow from USD 0.5 billion to USD 1.8 billion by 2030, driven by the increasing demand for zero-emission vehicles and supportive government policies. globenewswire.com This growth is particularly evident in Europe, Asia, and North America, where hydrogen refueling stations and pipelines are expanding rapidly. For instance, Europe has over 250 operational hydrogen stations, up from just 100 in 2020, facilitating the adoption of hydrogen-powered vehicles. marketgrowthreports.com
In addition to transportation, hydrogen fuel is gaining traction in industrial sectors. The chemicals industry, responsible for a significant portion of global greenhouse gas emissions, is exploring hydrogen as a cleaner alternative to fossil fuels. Europe's first commercial-scale e-methanol plant in Denmark, which produces low-emission fuel using renewable energy and captured CO2, exemplifies this shift. reuters.com Moreover, hydrogen is emerging as a viable solution for decarbonizing heavy industries like steel production, which accounts for a substantial share of global carbon emissions. Pilot projects in Europe and Asia are demonstrating hydrogen's potential to reduce industrial carbon footprints. marketgrowthreports.com