The hydrogen compressor market in Europe is expected to reach US$ 653.09 million by 2028 from US$ 478.84 million in 2021. The market is estimated to grow at a CAGR of 4.5% from 2021 to 2028.
The UK, Germany, France, Italy, and Russia are major economies in Europe. The industry's growth is likely to compel the upstream and downstream activities in the aforementioned countries. Innovation and advanced technologies have released unconventional drilling and completion operations to optimize oil and gas production and change economic power balance for the predictable future. The growing investment in the oil and gas sector is likely to boost the development of hydrogen compressors in the near future. Due to the favorable government support, numerous oil and gas projects are being initiated in the country.
In Europe, various key countries such as Germany, The UK, and France are the hardest-hit countries by the COVID-19 outbreak. Hence, the region is expected to suffer an economic hit due to a lack of revenue from various industries prevalent in such major countries. Additionally, with the outbreak of another/mutant variant of COVID-19 in European countries, has further deteriorated the conditions in different countries. The region is a significant industrial hub for sectors such as healthcare, chemicals, manufacturing, automotive, and energy & power. Amid the COVID-19 pandemic, many businesses in Europe have been facing financial challenges as they had to reduce their activities substantially, owing to lack of workforce, government restrictions in effect, and decrease in sales and demand. These factors had a direct impact on the European hydrogen compressor market growth in the year 2020. Russia, the UK, Italy, Spain, and France witnessed relatively high impact in 2020, some sectors in these countries are likely to continue to suffer till Mid-2021.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe hydrogen compressor market. The Europe hydrogen compressor market is expected to grow at a good CAGR during the forecast period.
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Europe Hydrogen Compressor Market Segmentation
Europe Hydrogen Compressor Market – By Type
- Oil-based
- Oil-free
Europe Hydrogen Compressor Market- By Stage
- Single-stage
- Multi-stage
Europe Hydrogen Compressor Market- By End-User
- Chemicals
- Oil and Gas
- Automotive and Transportation
- Renewable Energy
- Other End-users
Europe Hydrogen Compressor Market - By Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Europe Hydrogen Compressor Market -Companies Mentioned
- Atlas Copco AB
- Burckhardt Compression AG
- Fluitron, Inc.
- Gardner Denver Nash, LLC
- Howden Group
- HAUG Sauer Kompressoren AG
- Lenhardt & Wagner GmbH
- NEUMAN & ESSER GROUP
- PDC Machines Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Stage, and End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
UK, Germany, France, Italy, Russia
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Hydrogen Compressor Market – By Type
1.3.2 Europe Hydrogen Compressor Market – By Stage
1.3.3 Europe Hydrogen Compressor Market – By End-User
1.3.4 Europe Hydrogen Compressor Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Hydrogen Compressor Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Europe Hydrogen Compressor Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increased Adoption of Hydrogen Fuel Cell Vehicles
5.1.2 Thriving Oil and gas Sector
5.2 Key Market Restraints
5.2.1 Exorbitant Recurring Cost in Maintenance
5.3 Key Market Opportunities
5.3.1 Soaring Investments in New Energy & Power Projects Worldwide
5.4 Future Trends
5.4.1 Progression of Electrochemical Hydrogen Compressor (EHC)
5.5 Impact Analysis of Drivers and Restraints
6. Hydrogen Compressor Market – Europe Market Analysis
6.1 Europe Hydrogen Compressor Market Overview
6.2 Europe Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
7. Europe Hydrogen Compressor Market Analysis – By Type
7.1 Overview
7.2 Europe Hydrogen Compressor Market Breakdown, By Type (2020 and 2028)
7.3 Oil-Based
7.3.1 Overview
7.3.2 Oil-Based: Europe Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Oil-Free
7.4.1 Overview
7.4.2 Oil-Free: Europe Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
8. Europe Hydrogen Compressor Market Analysis– By Stage
8.1 Overview
8.2 Europe Hydrogen Compressor Market Breakdown, By Stage (2020 and 2028)
8.3 Single-Stage
8.3.1 Overview
8.3.2 Single-Stage: Europe Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Multi-Stage
8.4.1 Overview
8.4.2 Multi-Stage: Europe Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
9. Europe Hydrogen Compressor Market Analysis – By End-user
9.1 Overview
9.2 Europe Hydrogen Compressor Market, By End-user (2020 and 2028)
9.3 Chemicals
9.3.1 Overview
9.3.2 Chemicals: Europe Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
9.4 Oil and Gas
9.4.1 Overview
9.4.2 Oil and Gas: Europe Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
9.5 Automotive and Transportation
9.5.1 Overview
9.5.2 Automotive and Transportation: Europe Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
9.6 Renewable Energy
9.6.1 Overview
9.6.2 Renewable Energy: Europe Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
9.7 Other End-users
9.7.1 Overview
9.7.2 Other End-users: Europe Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
10. Europe Hydrogen Compressor Market – Country Analysis
10.1 Overview
10.1.1 Europe: Hydrogen Compressor Market, by Key Country
10.1.1.1 Germany: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Germany: Hydrogen Compressor Market, by Type
10.1.1.1.2 Germany: Hydrogen Compressor Market, by Stage
10.1.1.1.3 Germany: Hydrogen Compressor Market, by End-Users
10.1.1.2 France: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 France: Hydrogen Compressor Market, by Type
10.1.1.2.2 France: Hydrogen Compressor Market, by Stage
10.1.1.2.3 France: Hydrogen Compressor Market, by End-Users
10.1.1.3 Italy: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Italy: Hydrogen Compressor Market, by Type
10.1.1.3.2 Italy: Hydrogen Compressor Market, by Stage
10.1.1.3.3 Italy: Hydrogen Compressor Market, by End-Users
10.1.1.4 UK: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 UK: Hydrogen Compressor Market, by Type
10.1.1.4.2 UK: Hydrogen Compressor Market, by Stage
10.1.1.4.3 UK: Hydrogen Compressor Market, by End-Users
10.1.1.5 Russia: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 Russia: Hydrogen Compressor Market, by Type
10.1.1.5.2 Russia: Hydrogen Compressor Market, by Stage
10.1.1.5.3 Russia: Hydrogen Compressor Market, by End-Users
10.1.1.6 Rest of Europe: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Rest of Europe: Hydrogen Compressor Market, by Type
10.1.1.6.2 Rest of Europe: Hydrogen Compressor Market, by Stage
10.1.1.6.3 Rest of Europe: Hydrogen Compressor Market, by End-Users
11. Europe Hydrogen Compressor Market- COVID-19 Impact Analysis
11.1 Overview
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 Atlas Copco AB
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Burckhardt Compression AG
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Fluitron, Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Gardner Denver Nash, LLC
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Howden Group
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 HAUG Sauer Kompressoren AG
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 NEUMAN & ESSER GROUP
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Lenhardt & Wagner GmbH
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 PDC Machines Inc.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Europe Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe Hydrogen Compressor Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany: Hydrogen Compressor Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Hydrogen Compressor Market, by Stage – Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: Hydrogen Compressor Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 6. France: Hydrogen Compressor Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. France: Hydrogen Compressor Market, by Stage – Revenue and Forecast to 2028 (US$ Million)
Table 8. France: Hydrogen Compressor Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 9. Italy: Hydrogen Compressor Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Italy: Hydrogen Compressor Market, by Stage – Revenue and Forecast to 2028 (US$ Million)
Table 11. Italy: Hydrogen Compressor Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 12. UK: Hydrogen Compressor Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. UK: Hydrogen Compressor Market, by Stage – Revenue and Forecast to 2028 (US$ Million)
Table 14. UK: Hydrogen Compressor Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 15. Russia: Hydrogen Compressor Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 16. Russia: Hydrogen Compressor Market, by Stage – Revenue and Forecast to 2028 (US$ Million)
Table 17. Russia: Hydrogen Compressor Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of Europe: Hydrogen Compressor Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of Europe: Hydrogen Compressor Market, by Stage – Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of Europe: Hydrogen Compressor Market, by End-Users – Revenue and Forecast to 2028 (US$ Million)
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Hydrogen Compressor Market Segmentation
Figure 2. Europe Hydrogen Compressor Market Segmentation – By Country
Figure 3. Europe Hydrogen Compressor Market Overview
Figure 4. Oil-Based Segment held the Largest Share of Europe Hydrogen Compressor Market
Figure 5. Multi-Stage Segment held the Largest Share of Europe Hydrogen Compressor Market
Figure 6. Oil and Gas segment held the Largest Share of Europe Hydrogen Compressor Market
Figure 7. Germany to Show Great Traction During Forecast Period in the Europe hydrogen compressor market
Figure 8. Europe – PEST Analysis
Figure 9. Europe Hydrogen Compressor Market Ecosystem
Figure 10. Expert Opinions
Figure 11. Europe Hydrogen Compressor Market Impact Analysis of Drivers and Restraints
Figure 12. Europe Hydrogen Compressor Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. Europe Hydrogen Compressor Market Breakdown, By Type (2020 and 2028)
Figure 14. Europe Oil-Based: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. Europe Oil-Free: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 16. Europe Hydrogen Compressor Market Breakdown, By Stage (2020 and 2028)
Figure 17. Europe Single-Stage: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 18. Europe Multi-Stage: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 19. Europe Hydrogen Compressor Market Breakdown, By End-user (2020 and 2028)
Figure 20. Europe Chemicals : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe Oil and Gas : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 22. Europe Automotive and Transportation : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 23. Europe Renewable Energy : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 24. Europe Other end-users : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 25. Europe: Hydrogen Compressor Market, by Key Country-Revenue 2020 (US$ Million)
Figure 26. Europe: Hydrogen Compressor Market Revenue Share, by Key Country (2020 and 2028)
Figure 27. Germany: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. France: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Italy: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. UK: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Russia: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Rest of Europe: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Impact of COVID-19 Pandemic in Europe Country Markets
- Atlas Copco AB
- Burckhardt Compression AG
- Fluitron, Inc.
- Gardner Denver Nash, LLC
- HAUG Sauer Kompressoren AG
- Howden Group
- Lenhardt & Wagner GmbH
- NEUMAN & ESSER GROUP
- PDC Machines Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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