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Hydrogen Compressor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Publisher Fortune Business Insights Pvt. Ltd.
Published Nov 01, 2024
Length 226 Pages
SKU # FOB19302724

Description

Hydrogen Compressor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Hydrogen Compressor Market

The hydrogen compressor market size was valued at USD 1.89 billion in 2022, and the market is now projected to grow from USD 1.97 billion in 2023 to USD 2.81 billion by 2030, exhibiting a CAGR of 5.19% during the forecast period of 2023-2030.

The restriction in the logistic system and lockdown decreased demand for compressors. The supply chain disruption caused delay in delivery of raw material which has slowed down the production of the device. The downturn of the financial situation unfavorably affected the growth of renewable energy which consequently has hampered the rising spending in hydrogen assignments. Hence, the hydrogen compressor market growth witnessed obstruction due to the COVID-19 pandemic

The hydrogen compressor market share globally has increased because of the acceptance of hydrogen by various sectors. It is one of the highest energy content fuels. Using this device, renewable energy sources can be transformed into hydrogen. This can then be stored and transported, propelling the demand for the tool. Light and heavy trucks, freight transportation, and semis are the main attraction of hydrogen-fueled road transport is impelling the market enlargement.

The trend is rising employment of hydrogen compressors in the hydrogen economy is propelling the market expansion. The equipment can reach a compression ratio of 2.0-3.0. These are fundamental for storage, feed compression, and pipeline. There is an extensive technology under development to propose high-speed compressors enhanced for hydrogen compression. Though, this progress is doubtful in future but can boost the market growth.

Comprehensive Analysis of Hydrogen Compressor Market

The hydrogen compressor market and power & energy industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the power & energy industry. These segmentations are methodically segregated by type and application. The types include reciprocating and centrifugal. The applications are power plants, hydrogen refueling stations, industrial furnaces, petrochemical & chemical, pharmaceuticals, oil & gas, and others.

The Asia Pacific region is conducive to the global hydrogen compressor market, leading to a recall of USD 0.97 billion owing to the expansion of several areas that are major consumers of hydrogen gas and the rising heavy investment by developing nations.

The top players in the market play a critical role in the power & energy industry assuring industrial prospectus growth and setting market standards. These players include Siemens (Germany), Mitsubishi Power (Japan), Neuman & Esser Group (Germany),Atlas Copco AB (Sweden), Howden Group (U.K.), Ingersoll Rand (U.S.), Pure Energy Centre (U.K.), Hoerbiger (Switzerland), Cook Compression (U.S.), Hycomp Inc. (U.S.), Mehrer Compression GmbH (Germany), PDC Machines (U.S.), Baker Hughes (U.S.), SIAD Macchine Impianti S.p.A. (Italy), Sundyne (U.S.), CYRUS S.A. (Greece), HIPERBARIC (Spain), Burckhardt Compression AG (Switzerland), Ariel Corporation (U.S.), HYDRO-PAC, INC. (U.S.), HyET Group (Netherlands), Fluitron (U.S.), and Lenhardt & Wagner GmbH (Germany), these market players provide a level-playing competitive landscape.

In June 2023, BMW Group has declared that they will test the second generation of their hydrogen fuel cell train in a range of BMW ix5 hydrogen, enhanced by Garrett’s new generation advancement which is hydrogen EVs of modular fuel cell compressors. Garrett Motion is serving the promise of BMW Group for making hydrogen FCV with zero emission along with an electric fuel cell compressor (FCC) produced by Garrett’s research and development team.

Segmentation Table

Global Hydrogen Compressor Market Scope

ATTRIBUTE DETAILS

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 5.19% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Type, Application, and Region

Segmentation By Type

Reciprocating

Centrifugal

By Application

Power Plants

Hydrogen Refuelling Station

Industrial Furnaces

Petrochemical & Chemical

Pharmaceuticals

Oil & Gas

Others

By Region

North America (By Type, Application, and Country)

U.S.

Canada

Europe (By Type, Application, and Country)

Germany

France

U.K.

Italy

Russia & CIS

Spain

Rest of Europe

Asia Pacific (By Type, Application, and Country)

China

Japan

South Korea

Southeast Asia

India

Australia

Rest of Asia Pacific

Latin America (By Type, Application, and Country)

Brazil

Mexico

Rest of Latin America

Middle East & Africa (By Type, Application, and Country)

Saudi Arabia

UAE

Oman

Qatar

Rest of the Middle East & Africa

Table of Contents

226 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions & Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Insight on Regulatory Landscape
4.4. Porters Five Forces Analysis
4.5. Impact of COVID-19 on the Hydrogen Compressor Market
5. Global Hydrogen Compressor Market (USD Billion) Analysis, Insights, and Forecast, 2019-2030
5.1. Key Findings
5.2. Market Analysis, Insights and Forecast – By Type
5.2.1. Reciprocating
5.2.2. Centrifugal
5.3. Market Analysis, Insights and Forecast – By Application
5.3.1. Power Plants
5.3.2. Hydrogen Refuelling Station
5.3.3. Industrial Furnaces
5.3.4. Petrochemical & Chemical
5.3.5. Pharmaceuticals
5.3.6. Oil & Gas
5.3.7. Others
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Latin America
5.4.5. Middle East & Africa
6. North America Hydrogen Compressor Market (USD Billion) Analysis, Insights, and Forecast, 2019-2030
6.1. Key Findings
6.2. Market Analysis, Insights and Forecast – By Type
6.2.1. Reciprocating
6.2.2. Centrifugal
6.3. Market Analysis, Insights and Forecast – By Application
6.3.1. Power Plants
6.3.2. Hydrogen Refuelling Station
6.3.3. Industrial Furnaces
6.3.4. Petrochemical & Chemical
6.3.5. Pharmaceuticals
6.3.6. Oil & Gas
6.3.7. Others
6.4. Market Analysis, Insights, and Forecast – By Country
6.4.1. U.S.
6.4.2. Canada
7. Europe Hydrogen Compressor Market (USD Billion) Analysis, Insights, and Forecast, 2019-2030
7.1. Key Findings
7.2. Market Analysis, Insights and Forecast – By Type
7.2.1. Reciprocating
7.2.2. Centrifugal
7.3. Market Analysis, Insights and Forecast – By Application
7.3.1. Power Plants
7.3.2. Hydrogen Refuelling Station
7.3.3. Industrial Furnaces
7.3.4. Petrochemical & Chemical
7.3.5. Pharmaceuticals
7.3.6. Oil & Gas
7.3.7. Others
7.4. Market Analysis, Insights and Forecast – By Country
7.4.1. Germany
7.4.2. France
7.4.3. UK
7.4.4. Italy
7.4.5. Russia & CIS
7.4.6. Spain
7.4.7. Rest of Europe
8. Asia Pacific Hydrogen Compressor Market (USD Billion) Analysis, Insights, and Forecast, 2019-2030
8.1. Key Findings
8.2. Market Analysis, Insights and Forecast – By Type
8.2.1. Reciprocating
8.2.2. Centrifugal
8.3. Market Analysis, Insights and Forecast – By Application
8.3.1. Power Plants
8.3.2. Hydrogen Refuelling Station
8.3.3. Industrial Furnaces
8.3.4. Petrochemical & Chemical
8.3.5. Pharmaceuticals
8.3.6. Oil & Gas
8.3.7. Others
8.4. Market Analysis, Insights and Forecast – By Country
8.4.1. China
8.4.2. Japan
8.4.3. South Korea
8.4.4. Southeast Asia
8.4.5. India
8.4.6. Australia
8.4.7. Rest of Asia Pacific
9. Latin America Hydrogen Compressor Market (USD Billion) Analysis, Insights, and Forecast, 2019-2030
9.1. Key Findings
9.2. Market Analysis, Insights and Forecast – By Type
9.2.1. Reciprocating
9.2.2. Centrifugal
9.3. Market Analysis, Insights and Forecast – By Application
9.3.1. Power Plants
9.3.2. Hydrogen Refuelling Station
9.3.3. Industrial Furnaces
9.3.4. Petrochemical & Chemical
9.3.5. Pharmaceuticals
9.3.6. Oil & Gas
9.3.7. Others
9.4. Market Analysis, Insights and Forecast – By Country
9.4.1. Brazil
9.4.2. Mexico
9.4.3. Rest of Latin America
10. Middle East & Africa Hydrogen Compressor Market (USD Billion) Analysis, Insights, and Forecast, 2019-2030
10.1. Key Findings
10.2. Market Analysis, Insights and Forecast – By Type
10.2.1. Reciprocating
10.2.2. Centrifugal
10.3. Market Analysis, Insights and Forecast – By Application
10.3.1. Power Plants
10.3.2. Hydrogen Refuelling Station
10.3.3. Industrial Furnaces
10.3.4. Petrochemical & Chemical
10.3.5. Pharmaceuticals
10.3.6. Oil & Gas
10.3.7. Others
10.4. Market Analysis, Insights and Forecast – By Country
10.4.1. Saudi Arabia
10.4.2. UAE
10.4.3. Oman
10.4.4. Qatar
10.4.5. Rest of Middle East & Africa
11. Competitive Analysis
11.1. Company Market Share Analysis, 2022
11.2. Company Profile
11.2.1. Siemens
11.2.1.1. Business Overview
11.2.1.2. Product & Services Offerings
11.2.1.3. Recent Developments
11.2.1.4. Financials (Based on Availability)
11.2.2. Pure Energy Centre
11.2.2.1. Business Overview
11.2.2.2. Product & Services Offerings
11.2.2.3. Recent Developments
11.2.2.4. Financials (Based on Availability)
11.2.3. Ingersoll Rand
11.2.3.1. Business Overview
11.2.3.2. Product & Services Offerings
11.2.3.3. Recent Developments
11.2.3.4. Financials (Based on Availability)
11.2.4. Cook Compression
11.2.4.1. Business Overview
11.2.4.2. Product & Services Offerings
11.2.4.3. Recent Developments
11.2.4.4. Financials (Based on Availability)
11.2.5. Hycomp, Inc.
11.2.5.1. Business Overview
11.2.5.2. Product & Services Offerings
11.2.5.3. Recent Developments
11.2.5.4. Financials (Based on Availability)
11.2.6. Sundyne
11.2.6.1. Business Overview
11.2.6.2. Product & Services Offerings
11.2.6.3. Recent Developments
11.2.6.4. Financials (Based on Availability)
11.2.7. Howden Group
11.2.7.1. Business Overview
11.2.7.2. Product & Services Offerings
11.2.7.3. Recent Developments
11.2.7.4. Financials (Based on Availability)
11.2.8. NEUMAN & ESSER GROUP
11.2.8.1. Business Overview
11.2.8.2. Product & Services Offerings
11.2.8.3. Recent Developments
11.2.8.4. Financials (Based on Availability)
11.2.9. HIPERBARIC
11.2.9.1. Business Overview
11.2.9.2. Product & Services Offerings
11.2.9.3. Recent Developments
11.2.9.4. Financials (Based on Availability)
11.2.10. Mehrer Compression GmbH
11.2.10.1. Business Overview
11.2.10.2. Product & Services Offerings
11.2.10.3. Recent Developments
11.2.10.4. Financials (Based on Availability)
11.2.11. PDC Machines
11.2.11.1. Business Overview
11.2.11.2. Product & Services Offerings
11.2.11.3. Recent Developments
11.2.11.4. Financials (Based on Availability)
11.2.12. HOERBIGER
11.2.12.1. Business Overview
11.2.12.2. Product & Services Offerings
11.2.12.3. Recent Developments
11.2.12.4. Financials (Based on Availability)
11.2.13. Baker Hughes
11.2.13.1. Business Overview
11.2.13.2. Product & Services Offerings
11.2.13.3. Recent Developments
11.2.13.4. Financials (Based on Availability)
11.2.14. SIAD Macchine Impianti S.p.A.
11.2.14.1. Business Overview
11.2.14.2. Product & Services Offerings
11.2.14.3. Recent Developments
11.2.14.4. Financials (Based on Availability)
11.2.15. CYRUS S.A.
11.2.15.1. Business Overview
11.2.15.2. Product & Services Offerings
11.2.15.3. Recent Developments
11.2.15.4. Financials (Based on Availability)
11.2.16. Burckhardt Compression AG
11.2.16.1. Business Overview
11.2.16.2. Product & Services Offerings
11.2.16.3. Recent Developments
11.2.16.4. Financials (Based on Availability)
11.2.17. Ariel Corporation
11.2.17.1. Business Overview
11.2.17.2. Product & Services Offerings
11.2.17.3. Recent Developments
11.2.17.4. Financials (Based on Availability)
11.2.18. Fluitron
11.2.18.1. Business Overview
11.2.18.2. Product & Services Offerings
11.2.18.3. Recent Developments
11.2.18.4. Financials (Based on Availability)
11.2.19. HYDRO-PAC, INC.
11.2.19.1. Business Overview
11.2.19.2. Product & Services Offerings
11.2.19.3. Recent Developments
11.2.19.4. Financials (Based on Availability)
11.2.20. HyET Group
11.2.20.1. Business Overview
11.2.20.2. Product & Services Offerings
11.2.20.3. Recent Developments
11.2.20.4. Financials (Based on Availability)
11.2.21. Atlas Copco
11.2.21.1. Business Overview
11.2.21.2. Product & Services Offerings
11.2.21.3. Recent Developments
11.2.21.4. Financials (Based on Availability)
11.2.22. Lenhardt & Wagner GmbH
11.2.22.1. Business Overview
11.2.22.2. Product & Services Offerings
11.2.22.3. Recent Developments
11.2.22.4. Financials (Based on Availability)

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