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  • Hydrogen Compressors Market Growth & Forecast | 2022-2027

    Hydrogen Compressors Market Growth & Forecast | 2022-2027

    Hydrogen Compressors Market Growth & Forecast | 2022-2027
    Report code - SR1770 Delivery - 2 Weeks
    Hydrogen Compressors Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    Market Insights

    The hydrogen compressors market is expected to grow at a promising CAGR of 5.0% during the forecast period.

    Hydrogen Compressors Market Snapshot

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    What is a hydrogen compressor?

    A hydrogen compressor is a device that reduces the volume of hydrogen in order to increase the pressure, resulting in compressed or liquid hydrogen. Depending on the requirement, hydrogen compressors compress a small to medium amount of hydrogen gas to a high or extremely high pressure. These compressors aid in the safe handling and discharge of gas in a range of applications for maximum efficiency.

    Processing of metals, cooling turbines in power plants, and wind or solar generation centers, purifying specialty gases, hydrogenating edible oil combinations, and other uses of hydrogen compressors are common. These compressors must be both, high-performing and dependable.

    Hydrogen Compressors Market Report Overview

    Market Growth (2022-2027)

    CAGR of 5.0%

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2027

    Dominant Region

    Asia Pacific


    Covid-19 Impact-

    The pandemic has impacted operations in a range of businesses across different countries, since 2020. The imposition of lockdown has resulted in lesser production of commodities, goods, and services, as well as supply chain disruption. Various industries, such as chemical, oil & gas, and energy and electricity, have seen a drop in their activities as a result of the temporary halt. These developments hindered the growth of the market.

    Market Drivers

    The hydrogen compressors market is driven by a host of factors, some of which are noted below:

    • The rise in hydrogen fuel cell vehicles introduced by the automobile industry is projected to lead to an escalation in demand for hydrogen compressors.
    • As more countries set targets for reducing greenhouse gas emissions, the demand for zero-emission vehicles is expected to increase, and hydrogen fuel cells are seen as a promising technology for achieving this goal.
    • The market is closely tied to the oil and gas industry, as hydrogen is widely used in the refining process of petroleum products. The booming oil and gas industry has led to an increase in demand for hydrogen compressors, as they are essential for compressing and transporting hydrogen gas in the refining process.
    • Growing consumption of hydrogen from various end-user industries such as chemical processing, petroleum refining, and electronics.
    • The demand for oil-based compressors has been steadily increasing in recent years. 

    Key Players

    Most of the companies are deploying various strategies such as mergers, acquisitions, and other initiatives. The following are some of the key players in the hydrogen compressors market:

    • 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.

    Segment Analysis

    By Type

    The market is bifurcated into oil-based and oil-free. Oil-based hydrogen compressors are likely to capture a larger share of the market during the forecast period due to their higher efficiency than oil-free hydrogen compressors.

    These compressors are less expensive than oil-free compressors, have a longer service life, and can be utilized in applications such as glass purification, iron and steel, welding, and metal heating in commercial and industrial settings.

    By End-user

    The market is segmented as chemicals, oil & gas, automotive and transportation, renewable energy, and other end-users. Among these end-user types, the oil & gas segment is likely to remain the biggest demand generator for hydrogen compressors during the forecast period. The growth of the oil & gas industry in several developing countries such as China and India is supporting the growth of the segment of the market.

    The growth of the industry is likely to compel upstream and downstream activities in the aforementioned countries. Innovation and advanced technologies have released unconventional drilling and completion operations to optimize oil & gas production and change the economic power balance for the foreseeable future. The increasing investment in the oil & gas sector is likely to boost the development of hydrogen compressors over the coming years.

    Regional Analysis

    Asia-Pacific is expected to remain the largest market for hydrogen compressors over the forecast period on account of the escalation in demand for hydrogen compressors in various industries, including automotive and transportation, oil & gas, and renewable energy, and others.

    Hydrogen Compressors Market By Region

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    Furthermore, the presence of technologically advanced industries in countries, including China and Japan is also supporting the dominance of the region in the market. The high adoption of Industry 4.0 along with growing advancements in electronics manufacturing and machinery tools is boosting the growth of the market.

    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories:

    By Type

    • Oil-Based
    • Oil-Free

    By Stage

    • Single-Stage
    • Multi-Stage

    By End-User

    • Chemicals 
    • Oil & Gas
    • Automotive and Transportation
    • Renewable Energy
    • Other End-Users

    By Region

    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World

    Hydrogen Compressors Market Segmentation

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    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    in-depth analysis of the hydrogen compressors market

    How lucrative is the future?

    The market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Customization Option

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@Stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    A hydrogen compressor is a device that reduces the volume of hydrogen in order to increase the pressure, resulting in compressed or liquid hydrogen. Depending on the requirement, hydrogen compressors compress a small to medium amount of hydrogen gas to a high or extremely high pressure. These compressors aid in the safe handling and discharge of gas in a range of applications for maximum efficiency.

    The market is expected to grow at a promising CAGR of 5.0% during the forecast period.

    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 some of the key players in the market.

    Asia-Pacific is estimated to be dominant in the hydrogen compressors market in the coming years. The huge demand for hydrogen compressors in various industries such as automotive and transportation, oil & gas, and renewable energy drive the overall regions market dynamics.

    The oil & gas end-user is likely to maintain its dominance in the market in the next five years on account of the booming oil & gas industries in various developing economies of the world.

    The rise in hydrogen fuel cell vehicles introduced by the automobile industry is projected to lead to an escalation in demand for hydrogen compressors. The market is closely tied to the oil and gas industry, as hydrogen is widely used in the refining process of petroleum products. The booming oil and gas industry has led to an increase in demand for hydrogen compressors, as they are essential for compressing and transporting hydrogen gas in the refining process.

    The study period of this market report is 2016-2027