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). The hydrogen compressor industry caters to considerable demand across the globe and is expected to have an influential market growth in the forecasted period. It is mainly owing to the factors such as mounting urbanization and industrial growth, energy consumption has 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.
Moreover, the use of hydrogen in refineries for processing refined fuels, removing contaminants, and other purposes are growing rapidly. It is widely used in the chemical, oil & refining, and utility industries. Hence, the market demand for hydrogen compressors is expected to grow in the forecasted period.
Hydrogen Compressor Technology 2020
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&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, oil-based segment holds the major share”
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.
“Amongst technology, multi-stage segment holds the major share”
Based on technology, the hydrogen compressor market is classified into single-stage and multi-stage. The multi-stage segment holds a considerable market share in the hydrogen compressor market. A multi-stage compressor ensures low leakage loss, provides uniform torque and is suitable for heavy tasks.
“Asia Pacific represents one of the extensive market shares of global Hydrogen Compressor Market”
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.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
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Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the global Hydrogen compressor market were the three major steps undertaken to create and analyze the adoption of Hydrogen compressor in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Hydrogen compressor market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Seek More Details About Research Methodology
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of Hydrogen compressor market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Hydrogen compressor market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type, technology, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Hydrogen compressor market. Further, we conducted factor analysis using dependent and independent variables such as an increase in demand for hydrogen from end-user industries, such as fertilizers and oil refineries. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisition, business expansion, and product launches in the Hydrogen compressor market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Hydrogen compressor market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Hydrogen compressor market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Hydrogen compressor market in terms of category offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global hydrogen compressor market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, technology, and end-users in the global Hydrogen compressor market.
The main objective of the Global Hydrogen compressor Market Study
The current & future market trends of global Hydrogen compressor market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of hydrogen compressor market in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of type, technology, and end-users.
- Define and analysis of the regulatory framework for the hydrogen compressor market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the hydrogen compressor market for the major region.
- Major regions studied in the report include Asia Pacific, Europe, North America, and Rest of the world.
- Company profiles of the hydrogen compressor market and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry
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