Global Hydrogen Compressors Market - 2023-2030
Global Hydrogen Compressors Market reached US$ 1.9 billion in 2022 and is expected to reach US$ 2.8 million by 2030, growing with a CAGR of 4.6% during the forecast period 2023-2030.
The development of the hydrogen economy is a result of the growing attention being paid to sustainability and the requirement to move away from fossil fuels. With the potential to decarbonize several industries, including transportation, manufacturing and power generation, hydrogen is considered a flexible energy source. The need for hydrogen compressors rises as the hydrogen economy develops because they make hydrogen delivery, refueling and storage simpler.
The high-purity oil-free compressors segment holds more than 2/3rd share in the market and industries like semiconductor production and electronics demand extremely pure hydrogen gas, generally surpassing 99.999% purity (five nines or 5.0). In order to fulfill the strict purity criteria of these industries, high-purity oil-free compressors make sure that the compressed hydrogen gas is free of any oil interference.
Market Dynamics
Growing Use of Hydrogen Pipeline Infrastructure and Rising End-User Industry
The growing demand for hydrogen from end-use industries is predicted to drive growth in the market for hydrogen compressors. In order to fulfill consumer demand and government initiatives to reduce environmental pollution, the end-use sectors, including domestic energy distribution businesses, oil and gas corporations and power production firms, are progressively investing in new hydrogen transmission and generation facilities.
According to the International Energy Agency (IEA), Hydrogen supply to industrial customers has grown into a significant global industry. With 6% of the world's natural gas supply and 2% of the world's coal going towards hydrogen generation, the demand for hydrogen, which has increased more than thrice Since 1975, fossil fuels have provided almost all of the energy.
This is attributed to the fact that oil-based compressors are more efficient than their oil-free equivalents because the oil acts as a cooling medium, removing around 80% of the heat generated by the compressor during compression. For the forecast period, this factor is anticipated to significantly contribute to the growth of the hydrogen compressor market. Technical developments are expected to provide tremendous potential for the sector throughout the upcoming year.
Increasing Technological Development and Innovating New Products
Developing an advantage in the market for hydrogen compressors involves adopting new technologies. In order to satisfy the technical requirements of end users such as hydrogen fuel stations, the power generating industry and others, the leading players in the hydrogen compressor market are concentrating on creating hydrogen compressors with revolutionary technologies.
For instance, in November 2021, Burckhardt Compression AG, a Swiss company that produces reciprocator compression systems, introduced an oil-free hydrogen compression solution intended for fueling hydrogen trailers and fueling stations with larger mass flows.
Additionally, Bethlehem Hydrogen, a Pennsylvania-based supplier of client hydrogen compression, dispensing and storage systems, was acquired by Fluitron Inc., a maker of industrial gas compression equipment, in November 2021 for an unknown sum. Building a global organization dedicated to creating and marketing hydrogen infrastructure solutions is the goal of Fluitron Inc.'s purchase.
High Initial Costs and Constant Maintenance
The expensive materials and specialized engineering needed to properly handle hydrogen gas at high pressures are mostly to blame for the high initial cost of hydrogen compressors. Because hydrogen has a low molecular weight and is vulnerable to leaks, it is essential to build compressors with the highest accuracy and top-notch materials to guarantee their integrity and safety. The complexity of the parts used in hydrogen compressor systems—such as high-pressure cylinders, seals, valves and cooling systems—increases the overall cost.
Capacity investors and companies may be discouraged from entering the hydrogen compressor market as a result of these cost-related problems, particularly in areas with low financial resources. As a result, the limited supply of dependable and affordable hydrogen compressor solutions may cause delays in or restrictions on the adoption of hydrogen-based technology, such as fuel cell cars or hydrogen refueling facilities.
COVID-19 Impact Analysis
The COVID-19 pandemic started impacting business operations across a range of industries and countries. Governments throughout the world have been compelled to adopt tight transportation restrictions due to the infection's dramatic increase. The epidemic has disrupted the economies and industries of many nations due to travel restrictions, widespread lockdowns and company closures.
Several supply chain nodes have stopped operating as a result of the imposition of the lockdown, which has led to a decrease in the production of goods, services and commodities. Other industries that have seen a drop in activity owing to the temporary stoppage of activities include chemical, oil and gas and energy & electricity. The effects of the pandemic on small and medium business owners have been especially severe. The market for hydrogen compressors is being constrained by these factors as well.
Segment Analysis
The global hydrogen compressors market is segmented based on type, pressure limit, flow limit, power consumption, oil free, running reference, application, end-user and region.
Rising Demand For Oil And Gas Expanding In Many Different Countries
The oil and gas energy storage segment holds more than a 5.9% share of the global hydrogen compressors market. Many developing countries, like China and India, are seeing a boom in the oil and gas business. The rise of the business is expected to force upstream and downstream activities in the aforementioned countries. Innovation and cutting-edge technology have made unconventional drilling and completion techniques possible to increase oil and gas output and change the economic power structure for the foreseeable future.
The development of hydrogen compressors is projected to pick up in the near future due to the rising investment in the oil and gas industry. The Indian Brand Equity Foundation estimates that the Indian government would spend US$2.86 billion on upstream oil and gas production by 2022 to improve its natural gas output. Numerous oil and gas projects are being started in the nation as a result of the favorable support provided by the government.
Geographical Analysis
Europe's Growing Renewable Energy Capacity Particularly in Wind and Solar Power
Europe is rapidly increasing its renewable energy capacity, particularly wind and solar power. Hydrogen is seen as a promising solution to store and transport excess renewable energy and hydrogen compressors play a critical role in compressing hydrogen produced through electrolysis using renewable electricity. This integration of renewable energy and hydrogen strengthens the market demand for hydrogen compressors.
The European Clean Hydrogen Alliance, launched in 2020, brings together industry stakeholders, governments and research institutions to accelerate the development and deployment of hydrogen technologies. The alliance promotes public-private partnerships, investments and innovations in the hydrogen sector, including hydrogen compressors.
For instance, the UK's HyDeploy project, a ground-breaking hydrogen pilot project, is now happening at Keele University for the following 7 million people and this pilot project is led by Cadent in partnership with Northern GasNetworks (NGN) in the UK as an injection of zero-carbon hydrogen into Keele University's gas grid, this supports 30 academic buildings and around 100 homes. Thus, the market for hydrogen compressors is anticipated to grow throughout the projected period as a result of the end-user industries' rising need for hydrogen.
Competitive Landscape
The major global players include Corken Compressors, Ariel Corporation, Burckhardt Compression AG, Hydro-Pac Inc., Haug Kompressoren AG, Sundyne, Howden Group, Indian Compressors Ltd, Atlas Copco and Gardner Denver.
Why Purchase the Report?
• To visualize the global hydrogen compressors market segmentation based on type, pressure limit, flow limit, power consumption, oil free, running reference, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of hydrogen compressors market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global hydrogen compressors market report would provide approximately 102 tables, 110 figures and 181 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Type
- 3.2. Snippet by Pressure Limit
- 3.3. Snippet by Flow Limit
- 3.4. Snippet by Power Consumption
- 3.5. Snippet by Oil Free
- 3.6. Snippet by Running Reference
- 3.7. Snippet by Application
- 3.8. Snippet by End-User
- 3.9. Snippet by Region
- 4. Dynamics
- 4.1. Industry Analysis Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Growing Use of Hydrogen Pipeline Infrastructure and Rising End-User Industry
- 4.1.1.2. Growing Uses of Hydrogen in a Number of Industries
- 4.1.2. Restraints
- 4.1.2.1. High Initial Costs and Constant Maintenance
- 4.1.3. Opportunity
- 4.1.3.1. Increasing Technological Development and Innovating New Products
- 4.1.3.2. Expanding Hydrogen Fuel Cell Technology
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID
- 6.1.2. Scenario During COVID
- 6.1.3. Scenario Post COVID
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. By Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
- 7.2. Centrifugal*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Reciprocating
- 7.4. Screw
- 8. By Pressure Limit
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 8.1.2. Market Attractiveness Index, By Grade
- 8.2. 200 to 500 psi*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. 501 to 900 psi
- 8.4. Others
- 9. By Flow Limit
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 9.1.2. Market Attractiveness Index, By Grade
- 9.2. Low Flow*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Medium Flow
- 9.4. High Flow
- 10. By Power Consumption
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 10.1.2. Market Attractiveness Index, By Grade
- 10.2. Low Power (Up to 100 kW)*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Medium Power (100 kW to 500 kW)
- 10.4. High Power (Above 500 kW)
- 11. By Oil Free
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 11.1.2. Market Attractiveness Index, By Grade
- 11.2. Standard Oil-Free Compressors*
- 11.2.1. Introduction
- 11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3. High-Purity Oil-Free Compressors
- 12. By Running Reference
- 12.1. Introduction
- 12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 12.1.2. Market Attractiveness Index, By Grade
- 12.2. Pressure Reference*
- 12.2.1. Introduction
- 12.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 12.3. Temperature Reference
- 12.4. Flow Rate Reference
- 12.5. Power Consumption Reference
- 12.6. Efficiency Reference
- 13. By Application
- 13.1. Introduction
- 13.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Grade
- 13.1.2. Market Attractiveness Index, By Grade
- 13.2. Energy storage solutions*
- 13.2.1. Introduction
- 13.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 13.3. Grid balancing
- 13.4. Food processing
- 13.5. Power station cooling
- 13.6. Others
- 14. By End-User
- 14.1. Introduction
- 14.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 14.1.2. Market Attractiveness Index, By Application
- 14.2. Hydrogen Filling Stations*
- 14.2.1. Introduction
- 14.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 14.3. Oil & Gas Energy Storage
- 14.4. Others
- 15. By Region
- 15.1. Introduction
- 15.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 15.1.2. Market Attractiveness Index, By Region
- 15.2. North America
- 15.2.1. Introduction
- 15.2.2. Key Region-Specific Dynamics
- 15.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 15.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Pressure Limit
- 15.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Flow Limit
- 15.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power Consumption
- 15.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Oil Free
- 15.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Running Reference
- 15.2.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 15.2.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 15.2.11. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 15.2.11.1. U.S.
- 15.2.11.2. Canada
- 15.2.11.3. Mexico
- 15.3. Europe
- 15.3.1. Introduction
- 15.3.2. Key Region-Specific Dynamics
- 15.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 15.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Pressure Limit
- 15.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Flow Limit
- 15.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power Consumption
- 15.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Oil Free
- 15.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Running Reference
- 15.3.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 15.3.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 15.3.11. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 15.3.11.1. Germany
- 15.3.11.2. UK
- 15.3.11.3. France
- 15.3.11.4. Italy
- 15.3.11.5. Russia
- 15.3.11.6. Rest of Europe
- 15.4. South America
- 15.4.1. Introduction
- 15.4.2. Key Region-Specific Dynamics
- 15.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 15.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Pressure Limit
- 15.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Flow Limit
- 15.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power Consumption
- 15.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Oil Free
- 15.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Running Reference
- 15.4.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 15.4.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 15.4.11. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 15.4.11.1. Brazil
- 15.4.11.2. Argentina
- 15.4.11.3. Rest of South America
- 15.5. Asia-Pacific
- 15.5.1. Introduction
- 15.5.2. Key Region-Specific Dynamics
- 15.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 15.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Pressure Limit
- 15.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Flow Limit
- 15.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power Consumption
- 15.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Oil Free
- 15.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Running Reference
- 15.5.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 15.5.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 15.5.11. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 15.5.11.1. China
- 15.5.11.2. India
- 15.5.11.3. Japan
- 15.5.11.4. Australia
- 15.5.11.5. Rest of Asia-Pacific
- 15.6. Middle East and Africa
- 15.6.1. Introduction
- 15.6.2. Key Region-Specific Dynamics
- 15.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 15.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Pressure Limit
- 15.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Flow Limit
- 15.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Power Consumption
- 15.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Oil Free
- 15.6.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Running Reference
- 15.6.9. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 15.6.10. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 16. Competitive Landscape
- 16.1. Competitive Scenario
- 16.2. Market Positioning/Share Analysis
- 16.3. Mergers and Acquisitions Analysis
- 17. Company Profiles
- 17.1. Corken Compressors *
- 17.1.1. Company Overview
- 17.1.2. Product Portfolio and Description
- 17.1.3. Financial Overview
- 17.1.4. Key Developments
- 17.2. Ariel Corporation
- 17.3. Burckhardt Compression AG
- 17.4. Hydro-Pac Inc.
- 17.5. Haug Kompressoren AG
- 17.6. Sundyne
- 17.7. Howden Group
- 17.8. Indian Compressors Ltd
- 17.9. Atlas Copco
- 17.10. Gardner Denver
- LIST NOT EXHAUSTIVE
- 18. Appendix
- 18.1. About Us and Services
- 18.2. Contact Us
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