Hydrogen Compressor Market Growth Report – Size, Share 2030

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

  • Report Code : TIPRE00019472
  • Category : Manufacturing and Construction
  • Status : Published
  • No. of Pages : 173
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Hydrogen Compressor Market Growth Report – Size, Share 2030

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[Research Report] The hydrogen compressors market was valued at US$ 1,765.40 million in 2022 and is projected to reach US$ 2,609.69 million by 2030; it is expected to grow at a CAGR of 5.0% during 2022–2030. 

Analyst Perspective:

The hydrogen compressor market is driven by rapid industrialization and an increase in hydrogen production across the globe. Hydrogen production reached 94 million metric ton in 2021, a rise from 91 million metric ton in 2019. Hydrogen compressors are used in the oil & gas and refinery industries for compression.

Asia Pacific has dominated the global hydrogen compressor market owing to the presence of several industries, including automotive, chemicals, oil & gas, and renewable energy, among others. According to Car Group Organization, in 2021, automotive manufacturers announced an investment of US$ 36 billion for building manufacturing facilities for batteries and EVs. In the first quarter of 2022, automakers in Asia Pacific announced an investment of US$ 24 billion in electric vehicles. Hydrogen compressor is widely used in automotive manufacturing. Increased adoption of Industry 4.0, along with a surge in the advancements in consumer electronics manufacturing and machinery tools, is driving the hydrogen compressor market growth. Hydrogen plays a vital role in energy production; this supports the aim of the decarbonization of carbon-intensive sectors, including chemical, processing, automotive, mobility, and power generation, among others. Compressors are used in the hydrogen gas production value chain and are essential for efficiently transporting hydrogen.

Market Overview:

Hydrogen is one of the most efficient fuels with the highest energy content per weight. However, the hydrogen density in ambient conditions is ~90 g per cubic meter. Therefore, to attain functional levels of energy density, the efficient compression of hydrogen is necessary. The hydrogen compressors effectively used to compress small to medium quantities of hydrogen to high and, as per the requirement it can also be used for extremely high pressures of more than 5,000 bar (75,000PSI). Moreover, less than 250 bar (3,600 PSI) pressure is required to compress high quantities of oil-free hydrogen. In case of above 10 Megawatts of drive power is used to achieve any hydrogen compression necessity. Further, in case the oil traces are permitted in the gas, the discharge pressures in the range of more than 600 bar (9,000 PSI) are possible with lubricated compression.

The oil and gas and chemical industries experience tremendous growth across the world; moreover, various renewable energy projects are in the pipeline, especially in Southeast Asian countries. Thus, the requirement for better-conducting channels in various industries is offering future growth opportunities for the global hydrogen compressor market. The current growth of the hydrogen compressor market is primarily attributed to the introduction of advanced products by the hydrogen compressor manufacturers. The hydrogen compressor market has been segmented on the bases of type, stage, and end user. Based on type, the market is segmented into oil-based and oil-free. Based on stage, the market is segmented into single-stage and multi-stage. The hydrogen compressor market, by end user, is segmented into chemical, oil and gas, automotive and transportation, renewable energy, and others. On the basis of geography, the market is segmented into five regions: North America, Europe, APAC, MEA, and SAM.  

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Hydrogen Compressors Market: Strategic Insights

Hydrogen Compressors Market

  • CAGR (2022 - 2030)
    5.0%
  • Market Size 2022
    US$ 1.77 Billion
  • Market Size 2030
    US$ 2.61 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • 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

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Type
  • Oil-based and Oil-free
Stage
  • Single-Stage and Multi-Stage
End Users
  • Chemical
  • Oil & Gas
  • Automotive & Transportation
  • Renewable Energy
  • Hydrogen Fueling Stations
  • Others
Geography
  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South and Central America
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Market Driver:

Increasing Industrial Production Activities is Boosting the Hydrogen Compressor Market

Hydrogen compressors are widely used for several applications in various industries. It is used to supply the dry, clean, and oil-free air that is required in food & beverages, pharmaceuticals, consumer electronics, and textiles industries. Further, the food & beverages sector witnessed rapid growth due to government support and initiatives. Per the Food and Agriculture Organization Report in 2022, the government's support and funding toward the food & agriculture industry reached ~US$ 630 billion annually across the globe.

Also, hydrogen compressors majorly contribute to making low-carbon societies as it is used in making green hydrogen, compressing the LNG, and in the battery manufacturing plants of electric vehicles. Compressed air is also used in industrial automation in various sectors, as well as hospitals and high-speed trains. Hydrogen is used for high-temperature heating in industrial plants for the feedstock in chemical processing. According to the Chemical Industries Association Survey, the world's 50 largest chemical industry sales reached US$ 1.2 trillion in 2022, which increased by 17% compared to 2021. Such rising investment in the industrial sectors across the globe boosts production activities, which drives the global hydrogen compressor market growth.

Segmental Analysis:

Based on type, the market is divided into oil-based and oil-free compressors. Among these, oil-based hydrogen compressors have the largest share owing to their capability and wide range of applications in the industrial sectors, including in chemical plants, automotive, and electronic components manufacturing. Oil-based hydrogen compressors have higher efficiency than oil-free hydrogen-type compressors. Oil acts as the cooling medium that absorbs ~80% of the heat from the compressor during the compression cycle. It is considered suitable for various industrial applications which require a higher compression ratio. Rising global industrialization, along with the rapid development of advanced technologies-based industrial equipment, is driving the oil-based hydrogen compressor market growth. Also, rising investment towards green field projects across the globe, with significant support from government authorities, is driving the demand for oil-based hydrogen compressors. According to the United Nations Conference on Trade and Development Organization Report, the global greenfield project investment increased by 15% in 2022 compared to 2021, especially in developing countries, including Japan, India, Mexico, Brazil, and China.

Regional Analysis:

Europe is growing moderately with government support and initiatives for clean hydrogen production. From 2021 to 2027, the EU government's budget announced an investment of ~US$ 578 billion for climate spending. The European Commission also launched a budget of US$ 847.2 billion for the production of renewable hydrogen from the climate change innovation fund. Hydrogen compressor is widely used in renewable energy with government support and initiatives.

Rising investments across the oil & gas industry further drive the Europe hydrogen compressor market growth. The region's oil & gas sector has several giant projects across the region, creating massive demand for hydrogen compressors. A few of the projects include Johan Sverdrup and Johan Castberg oil field Development in Norway, Lochnagar and Rosebank oil and gas exploration in the UK, and Aphrodite Gas Field in Cyprus.  

Key Player Analysis:

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 compressor market players operating in the market.

Hydrogen Compressor Market Report Scope

Report Attribute Details
Market size in 2022 US$ 1.77 Billion
Market Size by 2030 US$ 2.61 Billion
Global CAGR (2022 - 2030) 5.0%
Historical Data 2020-2021
Forecast period 2023-2030
Segments Covered By Type
  • Oil-based and Oil-free
By Stage
  • Single-Stage and Multi-Stage
By End Users
  • Chemical
  • Oil & Gas
  • Automotive & Transportation
  • Renewable Energy
  • Hydrogen Fueling Stations
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • 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
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

     

    Recent Developments: 

    Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the global hydrogen compressor market. A few recent developments by key the hydrogen compressor market players are listed below:

    Year

    News

    Region

    Jun-2022

    HRS, a leading European designer and manufacturer of hydrogen refueling stations, and Burckhardt Compression, the world leader in reciprocating compressor systems, announced the signing of a supply contract for the delivery of several diaphragm compressors. They will be integrated into HRS hydrogen refueling stations with a capacity of over one ton per day.

    Europe

    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Type, Stage, End Users and Geography

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    Frequently Asked Questions


    Which region to dominate the hydrogen compressor market in the forecast period?

    The North America hydrogen compressor is segmented into the US, Canada, and Mexico, which have a significant demand for hydrogen compressors owing to the growth in the oil & gas sector. According to the Energy Information Administration in the US, crude oil production in 2022 reached a 0.6 million per day increase of 5.6% compared to 2021. Hydrogen compressor is used in petroleum refineries to ensure leakage-free compression of the oil and gas. In October 2023, Pemex Mexican oil and gas company announced its plan to invest ~US$ 9.2 billion for the expansion of its petroleum refineries.

    What is the future trend for the hydrogen compressor market?

    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.

    What are reasons behind the hydrogen compressor market growth?

    The rise in government investments in the development of hydrogen fuel infrastructure and incentives offered to the buyers are allowing the original equipment manufacturers (OEMs) to expand their revenue stream as well as their geographical presence. There is an increase in demand for low-emission and cost-efficient vehicles owing to associated government initiatives and a growing number of high-performance commercial vehicles across the globe.

    Who are the major vendors in the hydrogen compressor market?

    Atlas Copco AB; Burckhardt Compression AG; Fluitron, Inc.; Gardner Denver Nash, LLC; and NEUMAN & ESSER GROUP are the key market players operating in the global hydrogen compressor market.

    What are market opportunities for the hydrogen compressor market?

    With rising urbanization and rapid industrial growth, energy consumption across the globe has proliferated. Thus, to meet this huge demand for power, there is a rapid increase in the launch of hydrogen-generated power projects.

    The List of Companies - Hydrogen Compressors Market

    1. Atlas Copco AB
    2. Burckhardt Compression AG
    3. Fluitron, Inc
    4. Gardner Denver Nash, LLC
    5. Howden Group
    6. HAUG Sauer Kompressoren AG
    7. NEUMAN & ESSER GROUP
    8. Hydro-Pac, Inc
    9. Lenhardt & Wagner GmbH
    10. PDC Machines Inc.

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