"Actionable Insights to Fuel Your Growth"

Hydrogen Compressor Market Size, Share & Industry Analysis, By Type (Oil-Free, Oil-Based), By Technology (Single-Stage, Multi-Stage), By End-user (Oil & Gas, Chemical, Utility, Refueling Stations, Others) And Regional Forecast 2022-2029

Region : Global | Report ID: FBI105669 | Status : Ongoing

 

KEY MARKET INSIGHTS

A hydrogen compressor is a device that increases the pressure of hydrogen gas by reducing its volume. Reduced volume results in compressed hydrogen or liquid hydrogen. Most compressors used for gaseous hydrogen compression are either positive displacement compressors or centrifugal compressors, depending upon the requirement. Hydrogen fuels are considered to be one of the most emerging technologies in the automotive industry, which is expected to drive the market during the forecast period.


Based on type, the market is segmented into oil-free and oil-based segments. The oil-based segment dominates the hydrogen compressor market over the forecast period, owing to its advantages and applications in several end-user industries. Oil-based compressors cost-effective and provide a longer service life as compare to oil-free compressors. In addition, oil-based compressors are considered more efficient than oil-free compressors.


Based on technology, the market is classified into single-stage and multi-stage compressors. The multi-stage compressor is preferred over a single-stage compressor due to its properties such as low leakage loss, provide more uniform torque, suitable for heavy tasks, etc. Multistage metal hydride hydrogen compressor (MHHC) uses a fusion of different materials as metal hydrides to increase the final compression ratio while increasing the absorption of both the supply pressures of each stage. The performance of MHHC can be predicted by differential equations of energy, mass, and momentum conservation.


Based on the end-use industry, the market is segmented into oil & gas, chemical, utility, refueling station, and others. The chemical segment is expected to lead the global market in 2020. In the chemical industry, hydrogen is majorly used for the production of methanol and ammonia. Methanol and ammonia consume more than 50% of the hydrogen consumption worldwide. The Asia Pacific region is the leading producer of chemicals. In addition, the Asia Pacific region is expected to see major investments in the construction of new hydrogen plants, due to which the region is expected to drive the market during the forecast period.


The major market driver for the hydrogen compressor market is the growing demand for hydrogen fueling stations. An increase in the number of hydrogen gas pipelines and innovations in automotive industries are other factors driving demand for hydrogen compressors worldwide.  Along with this, the initiatives by the government for clean fuel also contribute to the market’s growth. 


The factor that is expected to inhibit the growth of the market is the high initial cost and frequent maintenance of the compressor. Dynamic prices for the raw material may hinder the market for hydrogen compressors.  


Key Market Driver -

Growing demand for hydrogen fueling stations

Key Market Restraint -

High initial cost and frequent maintenance


Key Players Covered:


Some of the major companies that are present in the hydrogen compressor market are HAUG Sauer Kompressoren AG, Hydropac, Howden, Ariel Corporation, CORKEN – an IDEX Energy business, Atlas Copco, Hitachi, Gardner Denver, Burckhardt Compression, Sundyne, Indian Compressors Ltd., Nel Hydrogen, Kaishan, and Dresser-Rand – A Siemens Business.


Regional Analysis:


The global hydrogen compressor market has been studied across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market is expected to register significant growth in Asia Pacific and Middle East & Africa region. The Asia Pacific region is majorly dependent on oil to meet energy demands; due to this, the region leads the global energy demand. A surge in demand for hydrogen fuel cell vehicles is producing lucrative opportunities for the development of hydrogen fuel recharging stations in the region. Hydrogen centrifugal compressors are used in ethylene plants for cracked-gas compression and refrigeration services, owing to such projects the demand for hydrogen compressors application in ethylene plants is projected to increase in China. Africa is expected to register significant growth due to major projects under construction, such as Dangote Refinery in Nigeria. The countries in the Middle East are investing heavily in the downstream sector, as selling refined oil rather than crude oil earns higher profit margins for these countries. As the downstream industry is growing rapidly in these countries, the industry is expected to drive the hydrogen compressor market during the forecast period.


To gain extensive insights into the market, Request for Customization


Segmentation


























  ATTRIBUTE


  DETAILS

By Type




  • Oil-Free

  • Oil-Based



By Technology




  • Single-Stage

  • Multi-Stage



By End-user




  • Oil & Gas

  • Chemical

  • Utility

  • Refueling Stations

  • Others



By Geography




  • North America (the U.S. and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)



Key Industry Developments



  • In September 2020, Mitsubishi signed its first lucrative hydrogen contract to supply hydrogen-capable gas turbines to the much-watched 840-MW Intermountain Power Project (IPP) in Millard County, Utah.

  • In February 2020, Burckhardt Compression signed an agreement with GRZ Technologies, for Renewable Energy from EPFL Lausanne, Switzerland, to develop a new hydrogen compression technology in the coming years. 


  • Ongoing
  • 2021
  • 2018-2020

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $7850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients

Abb
Hitachi
UL
Itic
Nikon

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X