Hydrogen is an increasingly popular fuel due to its lack of emissions and wide availability, in use around the world in many business sectors. But the key growth area currently is in the use of hydrogen as an alternative fuel for transport. If we look closely at the growth in use of hydrogen pressure vessels in refueling stations we see a sector on a very steep upward trajectory. FIBA Technologies is the leading supplier of hydrogen pressure vessels to this growth sector, for hydrogen storage and for transportation.
According to Fortune Business Insights, the hydrogen fueling station sector is currently valued at around $0.54 billion, but it is expected to grow to around $2.66 billion by 2029, having a CAGR of 25.6% in that period. More details are available here: https://www.fortunebusinessinsights.com/hydrogen-fueling-station-market-103934
Already one of the most commonly-used industrial gases, hydrogen can be produced via a variety of methods (see here https://www.fortunebusinessinsights.com/industry-reports/hydrogen-generation-market-100745). In the race to replace fossil fuels in transport, heating and industrial uses, hydrogen is seen as a leading solution.
In transport, heavy duty vehicles are using hydrogen increasingly and passenger cars are expected to catch up over the coming years. Each vehicle relies on refueling stations where hydrogen storage vessels are often arranged in a cascade system to fuel the vehicle at high pressure.
FIBA Technologies is said to have more hydrogen pressure vessels in refueling stations than any other supplier globally.
So we see that as hydrogen as an alternative fuel becomes increasingly popular (thanks to to its lack of emissions and its wide availability) it is use around the world, across many business sectors. Currently the key growth area currently is in the use of hydrogen as an alternative fuel for transport. If we look closely at the growth in use of hydrogen pressure vessels in refueling stations we see a sector on a very steep upward trajectory.
FIBA Technologies is the leading supplier of hydrogen pressure vessels to this growth sector, for hydrogen storage and for transportation.