Press release
Increase Demand From Various End User: An Emerging Driver Transforming The Hydrogen Compressor Market Landscape
Hydrogen Compressor Market Size
What Is the Projected Growth of the Hydrogen Compressor Market?
In the past few years, the hydrogen compressor market has demonstrated substantial growth. Projected to increase from $2.03 billion in 2024 to $2.16 billion in 2025, it's expected to display a compound annual growth rate (CAGR) of 6.4%. The remarkable growth observed during the historic period is due to several factors including, the heightened focus on green hydrogen production and storage, the expansion of hydrogen fueling infrastructure for transportation purposes, rising utilization of hydrogen in industrial applications, the introduction of government initiatives and policies that support a hydrogen economy, and an upsurge in investments in renewable energy and production of hydrogen.
The market for hydrogen compressors is projected to significantly expand within the next several years, ultimately reaching a value of $2.84 billion in 2029, with a compound annual growth rate (CAGR) of 7.1%. This projected upswing for the forecast period is due to several key factors including the usage of hydrogen in energy storage and grid balance applications, an increased demand for high-pressure hydrogen in industrial procedures and power generation, developments in innovative hydrogen compression technologies, a focus on decentralized hydrogen production and distribution, and the growth of hydrogen-fueled mobility and fuel cell applications. Forecasted trends within the same period comprise high-efficiency diaphragm and piston compressors, oil-free and contamination-free compression systems, modular and skid-mounted compression units, use of lightweight and high-strength materials, and the cryogenic compression for liquid hydrogen.
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What Are the Different Hydrogen Compressor Market 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 And Gas, Chemical, Utility, Refueling Stations, Other End-Users
Subsegments:
1) By Oil-Free: Diaphragm Compressors, Scroll Compressors, Piston Compressors
2) By Oil-Based: Rotary Screw Compressors, Reciprocating Compressors, Rotary Vane Compressors
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What Are the Primary Drivers Shaping the Hydrogen Compressor Market?
The growth of the hydrogen compressor market is projected to be driven by the escalating demand for hydrogen from various end-user industries. Sectors such as household energy distribution corporations, oil & gas, and power generation companies are making considerable investments in new hydrogen production and distribution plants to cater to consumer needs and comply with governmental policies on environmental pollution. For instance, a pioneering project called HyDeploy is taking place at Keele University in the UK, funded with around 7 million for the next stage. Guided by Cadent, in association with the UK's Northern Gas Networks (NGN), this project involves injecting carbon-free hydrogen into the university's gas grid that supplies roughly 100 residential properties and 30 staff buildings. Therefore, the surging demand from end-use industries for hydrogen is likely to stimulate the market growth of hydrogen compressors in the forthcoming years.
Which Companies Are Leading in the Hydrogen Compressor Market?
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.
What Are the Major Trends Shaping the Hydrogen Compressor Market?
Leaders in the hydrogen compressor market are consistently evolving and delivering cutting-edge technologies to satisfy the increasing need for hydrogen fuel solutions. For example, in January 2024, Howden, a company from the UK, launched an innovative hydrogen diaphragm compressor, specifically designed for high-pressure hydrogen refuelling stations. This leading-edge compressor is designed to improve efficiency and reliability in hydrogen fuel utilisation, catering to the escalating demand for eco-friendly energy solutions. The high-pressure refuelling station-specific hydrogen diaphragm compressor by Howden comes with impressive features such as high-pressure capability, inter-stage cooling, condensate purging, and a Free Floating Piston system to heighten efficiency and reliability.
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What Are the Top Revenue-Generating Geographies in the Hydrogen Compressor Market?
Asia-Pacific was the largest region in the hydrogen compressor market in 2024. The regions covered in the hydrogen compressor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hydrogen Compressor Market?
2. What is the CAGR expected in the Hydrogen Compressor Market?
3. What Are the Key Innovations Transforming the Hydrogen Compressor Industry?
4. Which Region Is Leading the Hydrogen Compressor Market?
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