Reciprocating Hydrogen Compressor Market By Compressor Type (Single Acting, Double Acting, Diaphragm), By Lubrication Type (Oil-based, Oil-free), By End User Industry (Oil and Gas, Chemical, Automotive, Others), By Application (Refueling stations, Production and Storage, Industrial), By Pressure (Less than 400 bar, 401-700 bar, More than 700 bar), By Product Speed (Low, Medium, High): Global Opportunity Analysis and Industry Forecast, 2023-2032
The reciprocating hydrogen compressor market valued for $914.29 million in 2022 and is estimated to reach $1,546.20 million by 2032, exhibiting a CAGR of 5.3% from 2023 to 2032. Reciprocating hydrogen compressors are industrial equipment used for compressing hydrogen gas into a smaller volume for easy and efficient storage, transportation, and other pressurized applications of hydrogen. This compressor mainly uses a reciprocating piston or diaphragm for the compression of hydrogen gas.
The rise in global population has significantly increased the use of petroleum products, thereby boosting the oil and gas industry. Hydrogen is extensively used in the oil and gas industry for separating sulfur, nitrogen and metals from many petroleum fractions. Thus, growth of oil and gas industry increases the demand for reciprocating hydrogen compressors. Furthermore, the hydrogen compressor market is driven by factors such as an increase in use of hydrogen for industrial applications, and necessity of compressing hydrogen. However, factors such as technical disadvantages of compressed hydrogen and high initial cost of reciprocating hydrogen compressors are expected to hamper the growth of the market.
Moreover, increasing popularity of clean hydrogen, owing to its environmentally friendly properties is a major opportunity for the reciprocating compressor market in the next few years. For instance, in November 2021, the U.S. Department of Energy allocated $9.5 billion for clean hydrogen projects.
In addition, reciprocating hydrogen compressors are available in a wide range of configurations and capacities, thereby making them suitable for small-scale as well as large-scale applications.
Furthermore, due to COVID-19, the demand for reciprocating hydrogen compressor market witnessed a halt, which led to a small-term decline in the market. However, the introduction of various vaccines has effectively subsided the COVID-19 pandemic and fueled the recovery of global supply chains and manufacturing industry, Thereby, boosting the growth of reciprocating hydrogen compressor market.
The reciprocating hydrogen compressor market is segmented on the basis of compressor type, lubrication type, pressure, and product speed, application, end user industry, and region. By compressor type, the market is classified into single acting, double acting, and diaphragm. Depending upon lubrication type, the market is bifurcated into oil-based, and oil-free. Depending on pressure, the market is categorized into less than 400 bar, 401-700 bar and more than 700 bar. Depending upon product speed, the market is categorized into low, medium, and high. Depending upon application, the market is classified into refueling stations, production and storage, and industrial. On the basis of end user industry, it is divided into oil and gas, chemical, automotive, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competition AnalysisCompetitive analysis and profiles of the major players in the reciprocating hydrogen compressor market are provided in the report. Major companies in the report include, Atlas Copco AB, IDEX Corporation, Ingersoll Rand Inc., HAUG Sauer Kompressoren AG, Ariel Corporation, Hitachi, Ltd., Chart Industries, Inc. (Howden Group), Nel ASA, PDC Machines, Inc., Burckhardt Compression Holding AG, SIAD Macchine Impianti S.p.A., Minnuo Group, Siemens Energy AG, Mikuni Group, Indian Compressors Ltd., Kwangshin Machinery Co., Ltd., IHI Corporation, CET Engineering srl, Kobe Steel, Ltd., and NEUMAN & ESSER GROUP.
Key benefits for stakeholdersThe report provides an extensive analysis of the current and emerging reciprocating hydrogen compressor market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2022 and 2032.
Extensive analysis of the reciprocating hydrogen compressor market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
The global reciprocating hydrogen compressor market forecast analysis from 2023 to 2032 is included in the report.
Key market players within the reciprocating hydrogen compressor market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the reciprocating hydrogen compressor industry.
Key Market SegmentsBy Compressor TypeSingle Acting
Application
Refueling Stations
Production and Storage
Industrial
Double Acting
Application
Refueling Stations
Production and Storage
Industrial
Diaphragm
Application
Refueling Stations
Production and Storage
Industrial
By Lubrication TypeOil-based
Oil-free
By End User IndustryAutomotive
Others
Oil and Gas
Chemical
By ApplicationRefueling stations
Product Speed
Low
Medium
High
Production and Storage
Product Speed
Low
Medium
High
Industrial
Product Speed
Low
Medium
High
By PressureLess than 400 bar
401-700 bar
More than 700 bar
By Product SpeedLow
Medium
High
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Ariel Corporation
Atlas Copco AB
Burckhardt Compression Holding AG
CET Engineering srl
Chart Industries, Inc. (Howden Group)
HAUG Sauer Kompressoren AG
Hitachi, Ltd.
IDEX Corporation
IHI Corporation
Indian Compressors Ltd.
Ingersoll Rand Inc.
Kobe Steel, Ltd.
Kwangshin Machinery Co., Ltd.
Mikuni Group
Minnuo Group
Nel ASA
NEUMAN & ESSER GROUP
PDC Machines, Inc.
SIAD Macchine Impianti S.p.A.
Siemens Energy AG
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