Hydrogen Compressors Market is expected to reach US$ 2,609.69 million by 2030

PRESS RELEASE BY The Insight Partners 10 Nov 2023

Share this press on

Development of Electrochemical Hydrogen Compressor (EHC) is Driving the Hydrogen Compressors Market

According to our latest market study on " Hydrogen Compressors Market Forecast to 2030 –Global Analysis – by Type, Stage, and End Users," the market is expected to grow from US$ 1,765.40 million in 2022 to US$ 2,609.69 million by 2030; it is anticipated to grow at a CAGR of 5.0% from 2022 to 2030.

The electromechanical hydrogen compressors are presently in the research and development stage and electrochemical reactions, ionic liquids, and metal hydrides. The electrochemical compressors have the application of proton exchange membranes lined by electrodes and a peripheral power source to lead the recombination at higher pressures at the cathode and dissociation of hydrogen at the anode. The development of an electrochemical hydrogen compressor (EHC) is necessary to tackle the critical requirements of higher efficiency, lower cost, and improved durability. For instance, HyET Group offers electrochemical hydrogen compression technology, which is exclusively designed to operate the compression and purification step utilizing one piece of equipment. This results in a compact, energy-efficient, and cost-effective electromechanical hydrogen compressor. This technology minimizes downtime, as electrochemical compression stacks are static equipment, and hence, they do not have the wear and tear issue.

Hydrogen Compressors Market Share — by Region, 2022

Hydrogen Compressors Market Share — by Region, 2022

Hydrogen Compressor Market Growth Report – Size, Share 2030

Download Free Sample

Hydrogen Compressors Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Oil-based and Oil-free), Stage (Single-Stage and Multi-Stage), End Users (Chemical, Oil & Gas, Automotive & Transportation, Renewable Energy, Hydrogen Fueling Stations, and Others) and Geography

Source: The Insight Partners Analysis

Furthermore, the modular design of EHC systems facilitates concurrent operation in case one of the compressor stacks requires maintenance or inspection after some period. Also, in September 2023, Atlas Copco launched an H2P hydrogen compressor that is capable of electrochemical electrolysis production. The company introduced speed-controlled technologies to compensate for fluctuations in hydrogen production and ensure optimal efficiency by reducing energy losses. These unique technologies launched by the key players are contributing to future growth in the hydrogen compressor market.  

The growing oil and gas exploration activities with the US government support and initiatives drive the hydrogen compressors market growth. The US government planned to invest US$ 50 billion to promote a Clean Hydrogen Economy. The government planned to build seven clean hydrogen hubs in the country. The growth in the power generation capacity is the most substantial factor driving the market growth in the country. The hydrogen compressor is extensively used in the electricity storage network in nuclear power plants and industrial manufacturing; thus, it is likely to boost the market growth in the coming years. In addition, companies in the US are investing in clean energy projects. In March 2022, the US Department of Energy planned to invest US$ 750 million in research and development in hydrogen production for making clean hydrogen. The investment was increased to US$ 1.5 billion in 2022 to reduce the additional costs of clean energy hydrogen production. The total funding from the federal government is supported by Plug Power Inc's research and development activities.

Atlas Copco AB; Burckhardt Compression AG; Fluitron, Inc.; Gardner Denver Nash, LLC; Howden Group; HAUG Sauer Kompressoren AG; NEUMAN & ESSER GROUP; Hydro-Pac, Inc.; Lenhardt & Wagner GmbH; and PDC Machines Inc are among the key hydrogen compressors market players profiled during this study. In addition, several other important hydrogen compressors market players have been studied and analyzed during the study to get a holistic view of the hydrogen compressors market and its ecosystem.

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com

Download Free PDF Brochure