Press release
Hydrogen Compressor Market Upcoming Trends Growing at a CAGR of 4% By 2030
Hydrogen Compressor Market
The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
The research provides detailed segmentation of the global hydrogen compressor market based on technology type, lubrication type, end user industry, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Hydrogen compressor is a device utilized to reduce the volume of hydrogen to increase the pressure resulting in compressed hydrogen or liquid hydrogen. The compressor decreases the volume of hydrogen gas as gases are compressible, but a pump raising the pressure of a liquid allows the liquid hydrogen to be transferred elsewhere.
In addition, increase in investments and
government initiatives in the chemical and energy sectors is expected to create opportunities for the hydrogen compressor market. For instance, the U.S. Department of Energy's (DOE) Office of Fossil Energy (FE) stated in January 2021 that it will allocate USD 160 million in federal funds to assist in re-calibrate the country's massive fossil fuel and power infrastructure for decarbonized energy and commodity production.
Similarly, in March 2022, Sinopec, China's second-largest oil company has invested $476 million in hydrogen technology research and development and planned a number of pilot green hydrogen projects. The company will prioritize the development of renewable energy projects, particularly those involving hydrogen, in its transition to a low-carbon business structure. The funds will be used to assist a variety of research initiatives aimed at developing hydrogen compressors.
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Leading Players:
Leading market players of the global hydrogen compressor market analyzed in the research include Ariel Corporation, Atlas Copco AB, Burckhardt Compression AG, Fluitron, Inc, HAUG Sauer Kompressoren AG, Hitachi, Ltd., Howden Group, IDEX Corporation, Ingersoll Rand, Inc., and Nel ASA.
Key Findings Of The Study
• The report provides an extensive analysis of the current hydrogen compressor market trends and future estimations of the market.
• Depending on technology type, the mechanical compressors segment dominated the market, in terms of revenue, in 2021.
• By lubricant type, the oil-based segment registered the highest revenue in 2021.
• Oil & gas segment is projected to register highest growth rate in the coming years.
• Based on region, Asia-Pacific region has dominated the market in 2021 and is expected to register the highest CAGR during the hydrogen compressor market forecast period.
• The key players within the hydrogen compressor market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the hydrogen compressor industry.
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