Overview and Scope
The hydrogen compressor are hydrogen compressor devices that increase the pressure of hydrogen by decreasing gas volume. The compression in a hydrogen compressor is achieved by moving hydrogen through a compressor that decreases gas volume between the inlet and the discharge. The reduced volume results in compressed hydrogen or liquid hydrogen.
Sizing and Forecast
The hydrogen compressor market size has grown strongly in recent years. It will grow from <b>$1.92 billion in 2023 to $2.05 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. </b> The growth in the historic period can be attributed to growth in emphasis on green hydrogen production and storage, expansion of hydrogen fueling infrastructure for transportation, increased use of hydrogen in industrial applications, government initiatives and policies promoting hydrogen economy, rise in investment in renewable energy and hydrogen production.
The hydrogen compressor market size is expected to see strong growth in the next few years. It will grow to <b>$2.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. </b> 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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Segmentation & Regional Insights
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
<b>Asia-Pacific</b> 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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the hydrogen compressor market include <b> 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. </b>
The hydrogen compressor market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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