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Hydrogen Compressor Global Market Report 2024 by The Business Research Company | Atlas Copco AB, Burckhardt Compression AG, Fluitron Inc., Gardner Denver Nash LLC, Howden Group Ltd., HAUG Sauer Kompressoren AG, Neuman & Esser Group, Hydro-Pac Inc.,
Hydrogen Compressor Market Size
The hydrogen compressor market size is expected to see strong growth in the next few years. It will grow to $2.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to integration of hydrogen in energy storage and grid balancing applications, demand for high-pressure hydrogen for industrial processes and power generation, research and development in next-generation hydrogen compression technology, focus on decentralized hydrogen production and distribution, expansion of hydrogen-powered mobility and fuel cell applications. Major trends in the forecast period include high-efficiency diaphragm and piston compressors, oil-free and contamination-free compression systems, modular and skid-mounted compression units, adoption of lightweight and high-strength materials, cryogenic compression for liquid hydrogen.
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Hydrogen Compressor Market Major Segments
The hydrogen compressor market covered in this report is segmented -
1) By Type: Oil-free, Oil-based
2) By Technology: Single-Stage, Multi-Stage
3) By Power Range: Below 100 hp, 101 hp - 200 hp
4) By End-User: Oil & Gas, Chemical, Utility, Refueling Stations, Other End-Users
Key Driver - Increase Demand From Various End User
The increase in demand for hydrogen from end-use industries is expected to propel the growth of the hydrogen compressor market. The end-use sectors, such as household energy distribution companies, oil & gas, and power generation companies, are increasingly investing in new hydrogen distribution and generation plants to meet consumer demand and government measures towards environmental pollution. For example, in the UK, a groundbreaking hydrogen trial project (HyDeploy) is underway at Keele University for the next 7 million. And this pilot project is led by Cadent in partnership with Northern Gas Networks (NGN) in the UK as an injection of zero-carbon hydrogen into Keele University's gas grid, which is feeding approximately 100 houses and 30 faculty buildings. Thus, the increase in demand for hydrogen from end-user industries is expected to boost the market for hydrogen compressors during the forecast period.
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Prominent Trend - Advancement In Hydrogen Compressor Market
Technological advancements are a key trend in gaining an advantage in the hydrogen compressor market. The key players in the hydrogen compressor market are focusing on developing hydrogen compressors with innovative technologies to meet the technical demands of end customers such as hydrogen fuel stations, power generation industries, and others. For instance, in November 2021, Burckhardt Compression AG, a Switzerland-based manufacturer of reciprocator compression systems, launched an oil-free hydrogen compression solution, designed for hydrogen trailer filling and fuel stations with higher mass flows.
Hydrogen Compressor Market Players
Major companies operating in the hydrogen compressor market include Atlas Copco AB, Burckhardt Compression AG, Fluitron Inc., Gardner Denver Nash LLC, Howden Group Ltd., HAUG Sauer Kompressoren AG, Neuman & Esser Group, Hydro-Pac Inc., Lenhardt & Wagner GmbH, Ariel Corporation, PDC Machines Inc., Mitsui E&S Holdings Co. Ltd., Siemens AG, Sundyne LLC, IDEX Corporation, Hitachi Ltd., Ingersoll Rand Inc., Nel ASA, Corken Inc., Indian Compressors Ltd., Coltri S.p.A., Fornovo Gas S.r.l., Adicomp S.r.l., Baker Hughes Company, Colfax Corporation, Elliott Group, Gardner Denver Holdings Inc., Kobe Steel Ltd., Sulzer Ltd.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the hydrogen compressor market in 2023. The regions covered in the hydrogen compressor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Hydrogen Compressor Market Report Structure
3. Hydrogen Compressor Market Trends And Strategies
4. Hydrogen Compressor Market - Macro Economic Scenario
5. Hydrogen Compressor Market Size And Growth
…..
27. Hydrogen Compressor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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