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Hydrogen Compressor Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Hydrogen Compressor Market
As per the report, the hydrogen compressor market size has grown strongly in recent years. It will grow from $1.92 billion in 2023 to $2.05 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. 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%.
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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.
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.
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
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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.
Contents of the report:
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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