Global Hydrogen Compressor Market is expected to foresee significant growth. Asia Pacific to lead the growth!
- Vikas Kumar
- April 11, 2022
- CHEMICAL, NEWS
- Hydrogen Compressor Market Growth, Hydrogen Compressor Market News, Hydrogen Compressor Market Share, Hydrogen Compressor Market Size, Hydrogen Compressor Market Trend
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The global hydrogen compressor market was valued at around 1.7 bn in 2020 and is expected to grow at a CAGR of around 5% during the forecast period (2021-2027). Factors such as the increase in demand for hydrogen from end-user industries, such as fertilizers and oil refineries, and the increasing deployment of hydrogen pipeline infrastructure globally for transportation are likely to drive the hydrogen compressor market during the forecast period.
However, the slowdown in industrial and economic activities due to a sharp decline in manufacturing activity and global trade, with higher tariffs and prolonged trade policy uncertainty, is expected to negatively impact the market size of hydrogen compressors.
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A hydrogen compressor reduces the volume of hydrogen gas to increase the pressure, resulting in compressed hydrogen or liquid hydrogen. Positive displacement or centrifugal compressors are the most common kind of compressors used to compress gaseous hydrogen. The oil-based hydrogen compressor exhibits various advantages in several end-user industries.
Factors such as mounting urbanization and industrial growth, energy consumption have risen manifolds. Thereby, to meet the soaring demand for power, the development of sub-transmission and intrastate transmission networks is expanding. The escalating demand for energy & power, owing to rising household incomes and increasing manufacturing and heavy industries, is boosting the deployment of hydrogen compressors.
For a detailed analysis of the market drivers browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=19007
Based on type, the hydrogen compressor market is bifurcated into oil-based and oil-free. The oil-based segment catered to significant demand in the hydrogen compressor market. It is mainly owing to their lower cost, longer life, and efficiency, thus, considered ideal for operations in various industries.
Based on end-user, the hydrogen compressor market is segmented into chemical, oil & gas, and others. The chemical segment hold an extensive market share in the hydrogen compressor market. In the chemical industry, hydrogen is majorly used to produce methanol and ammonia. Methanol and ammonia accounted for a lion’s share in hydrogen consumption across the globe. Hence, escalating the market size of hydrogen compressors.
For a better understanding of the market adoption of hydrogen compressors, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), and Rest of World. Asia Pacific caters significant share in the hydrogen compressor market. It is mainly due to the favorable government policies in countries such as China, India, and Japan. In addition, growing investment in ethylene and benzene to increase its production capacity would escalate the demand for hydrogen.
Some of the major players operating in the market are 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, PDC Machines Inc. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.
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Global Hydrogen Compressor Market Segmentation
Market Insight, by Type
Market Insight, by Technology
Market Insight, by End-User
• Oil & Gas
Market Insight, by Region
- North America Hydrogen Compressor Market
- United States
- Rest of North America
- Europe Hydrogen Compressor Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Hydrogen Compressor Market
- Rest of Asia-Pacific
- Rest of World Hydrogen Compressor Market
Top 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
• PDC Machines Inc