Hydrogen Compressor Market By Top Leading Manufacturers, Demand And Strategic Outlook - 2025 (Based on 2020 COVID-19 Worldwide Spread)

The market for hydrogen compressor is expected to grow at a CAGR of more than 5.35% during the forecast period of 2020 -2025. Major factors driving the market include growing demand from end-user industries and the increasing development of hydrogen pipeline infrastructure. Currently, the key challenges in hydrogen compressor technology include - volatility of the raw material prices (stainless steel), initial capital costs, and more frequent maintenance intervals from the on/off cycling of the compressors, due to low station demand.

- Oil & Gas Industry is expected to witness significant growth during the forecast period driven by the demand for cleaner fuels, government regulations for the desulfurization of petroleum products, and the general decline in crude oil quality.
- Hydrogen fuel cell vehicles are one of the latest innovations in the automotive industry, and are projected to create considerable opportunities for the growth of the global hydrogen compressor market.
- Asia-Pacific dominated the market across the globe in 2018 with the majority of the demand coming from countries such as China, India, and Japan.

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Increasing Demand for Hydrogen from the Transportation Sector

- Hydrogen fuel cell vehicles are one of the latest innovations in the automotive industry, and are projected to create considerable opportunities for the growth of the market studied. Hydrogen compressor manufacturers, such as Howden Joinery Group PLC and Hitachi Ltd, have already started developing technologies, to cater this emerging market.
- Moreover, Hydrogen refueling station (HRS) is one of the rapidly growing applications of hydrogen compressors, during the recent years. By the end of 2018, Germany has become the second highest country, with nearly 60 operational hydrogen refueling stations, and has planned for another 38 stations.
- Of the 366 stations, worldwide, 152 stations are currently operational in Europe, 136 in Asia-Pacific, and 78 in North America. Out of 366, 273 stations are accessible to the public and can be used like normal refueling stations. The number of stations is expected to reach 1,306 by 2022 and 4,808 by 2032.
- The number of hydrogen refueling stations open to the public or fleets worldwide, is also increasing. The number of planned HRS over the short term and till 2030, is also rising. Therefore, the rapid growth in HRS is expected to drive the demand for hydrogen compressors, during the forecast period.

Asia-Pacific to Dominate the Market

- Asia-Pacific is expected to be the promising market for fuel cells in the coming years, on account of the favorable government policies in countries, such as China, Japan and India.
- The Japanese Government invested USD 460 million and made significant contributions for setting up of hydrogen stations, in 2015. Japan has been striving to develop hydrogen economy, as a part of its energy and industrial policy, with an intent to prevent environmental pollutions.
- The market for hydrogen compressor in Japan is expected to witness a major demand for petrochemicals and the hydrogen fuel cell vehicle industry.
- India is likely to witness hydrogen as an economically viable energy resource. In January 2017, Tata Motors launched India's first hydrogen fuel cell bus at its Pune facility. Such developments in the automotive industry, in the long run, are expected to create new opportunities for the hydrogen compressor market.
- Therefore, factors such as supportive government policies and efforts to incorporate hydrogen in transportation and other applications are expected to drive the hydrogen compressor market in the region during the forecast period.

Competitive Landscape

The hydrogen compressor market is fragmented. Some of the major companies include Corken Inc, Ariel Corporation, Burckhardt Compression AG, Hydro-Pac Inc., and Howden Group Ltd.

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Influence of the Hydrogen Compressor market report:

-Comprehensive assessment of all opportunities and risk in the Hydrogen Compressor market.

-Hydrogen Compressor market recent innovations and major events.

-Detailed study of business strategies for growth of the Hydrogen Compressor market-leading players.

-Conclusive study about the growth plot of Hydrogen Compressor market for forthcoming years.

-In-depth understanding of Hydrogen Compressor market-particular drivers, constraints and major micro markets.

-Favourable impression inside vital technological and market latest trends striking the Hydrogen Compressor market.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Hydrogen Compressor Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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