Hydrogen Compressors Market Share, Size, Trends, Industry Analysis Report, By Stage (Single-Stage and Multi-Stage); By Type (Oil-Based and Oil-Free); By End-User; By Region; Segment Forecast, 2024- 2032

Hydrogen Compressors Market Share, Size, Trends, Industry Analysis Report, By Stage (Single-Stage and Multi-Stage); By Type (Oil-Based and Oil-Free); By End-User; By Region; Segment Forecast, 2024- 2032

The global hydrogen compressors market size is expected to reach USD 3.27 billion by 2032, according to a new study by Polaris Market Research. The report “Hydrogen Compressors Market Share, Size, Trends, Industry Analysis Report, By Stage (Single-Stage and Multi-Stage); By Type (Oil-Based and Oil-Free); By End-User; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

In the coming years, the hydrogen compressor market is expected to grow due to rising demand from industries like fertilizers and oil refineries, as well as the expanding deployment of hydrogen pipeline infrastructure worldwide for transportation purposes. A hydrogen compressor is frequently utilized in the production of automobiles. The hydrogen compressor market is expanding due to growing Industry 4.0 adoption as well as rapid improvements in equipment tools and consumer electronics manufacture. The creation of energy depends on hydrogen, which helps achieve the goal of decarbonizing carbon-intensive industries like power generation, transportation, chemical processing, and the automobile industry. In the value chain for producing hydrogen gas, compressors are utilized and are necessary for the effective transportation of hydrogen.

Conversely, the market may face challenges due to a slowdown in industrial and economic activities. Factors contributing to this slowdown include a significant decrease in manufacturing activity and global trade. The imposition of higher tariffs and prolonged uncertainty surrounding trade policies are further exacerbating the situation. These conditions are expected to reduce the demand for capital goods from industries that utilize hydrogen, thus restraining the overall growth of the market.

In the coming years, the hydrogen compressor market is expected to grow due to rising demand from industries like fertilizers and oil refineries, as well as the expanding deployment of hydrogen pipeline infrastructure worldwide for transportation purposes. A hydrogen compressor is frequently utilized in the production of automobiles. The hydrogen compressor market is expanding due to growing Industry 4.0 adoption as well as rapid improvements in equipment tools and consumer electronics manufacture. The creation of energy depends on hydrogen, which helps achieve the goal of decarbonizing carbon-intensive industries like power generation, chemical processing, transportation, and the automobile industry. In the value chain for producing hydrogen gas, compressors are utilized and are necessary for the effective transportation of hydrogen.

Conversely, the market may face challenges due to a slowdown in industrial and economic activities. Factors contributing to this slowdown include a significant decrease in manufacturing activity and global trade. The imposition of higher tariffs and prolonged uncertainty surrounding trade policies are further exacerbating the situation. These conditions are expected to reduce the demand for capital goods from industries that utilize hydrogen, thus restraining the overall growth of the market.

Hydrogen Compressors Market Report Highlights

The multi-stage segment dominated the market in 2023, driven by its application in the pipe-based hydrogen transfer and lowering the labor cost while elevating efficiency.

The oil-based segment led the market in 2023 and is expected to maintain its dominance due to its low cost and long service life.

Asia Pacific holds a significant revenue share in the global Hydrogen Compressors market, driven by undergoing rapid urbanization and industrialization, leading to substantial demand for power & energy.

The global key market players include Siemens, Mitsubishi Power, Neuman & Esser Group, Atlas Copco AB, Howden Group, Ingersoll Rand, Pure Energy Center, Hoerbiger, Cook Compression, Hycomp Inc., and Sundyne.

Polaris Market Research has segmented the Hydrogen Compressors market report based on stage, type, end-user and region:

Hydrogen Compressors, Stage Outlook (Revenue - USD Billion, 2019 - 2032)

Single-Stage

Multi-Stage

Hydrogen Compressors, Type Outlook (Revenue - USD Billion, 2019 - 2032)

Oil-Based

Oil-Free

Others

Hydrogen Compressors, End-User Outlook (Revenue - USD Billion, 2019 - 2032)

Oil & Gas

Chemical

Transportation & Automotive

Petrochemicals

Hydrogen Compressors, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Australia

Rest of Asia Pacific

Latin America

Argentina

Brazil

Mexico

Rest of Latin America

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of Middle East & Africa