Hydrogen Compressor Market: The mobility sector to remain the key investment avenue during the forecast period

Hydrogen Compressor Market: Global Industry Analysis (2022-2029) by Type, Technology, End-User, and Region. Hydrogen Compressor Market was valued at US$ 1.51 Bn. in 2021 and the total Hydrogen Compressor revenue is expected to grow at 5.79% from 2022 to 2029, reaching nearly US$ 2.37 Bn.

Hydrogen Compressor Market Overview:

Hydrogen has the highest energy content per weight of any fuel. Unfortunately, in atmospheric settings, the density of hydrogen is just 90 grams per cubic meter. Therefore, compression must be efficient to attain practical levels of energy density. Hydrogen compressors compress small to medium volumes of hydrogen to high and, if necessary, extremely high pressures of above 5,000 bar. The two most widely used systems for hydrogen compression are reciprocating and centrifugal compressors. Refineries and chemical facilities that utilize recycling or make-up compressors to handle process gas with higher hydrogen concentration and other contents are examples of hydrogen-rich applications. The importance of hydrogen in the global energy and power sector is growing tremendously. While demand for downstream oil and gas and refining applications continues to be strong throughout the world, the immense potential for hydrogen as a clean energy carrier unavoidably leads to its applications extending into other markets such as mobility, power generation, and energy storage. As the power transition gains traction, the demand for compressors that can transport hydrogen safely and effectively along the value chain and fully use its benefits within certain processes is becoming important.

Hydrogen Compressor Market Report Scope:

The Hydrogen Compressor market is segmented based on Type, Technology, End-User, and Region. The growth of various segments helps report users in acquiring knowledge of the many growth factors expected to be prevalent throughout the market and develop different strategies to help identify core application areas and the gap in the target market. The report provides an in-depth analysis of the market and contains meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies. A bottom-up approach has been used to estimate the market size. Key Players in the Hydrogen Compressor market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included a review of annual and financial reports of leading manufacturers, while primary research included interviews with important opinion leaders and industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. Some of the leading key players in the global Hydrogen Compressor market include Atlas Copco, Baker Hughes, and Ingersoll Rand. The report is not only a representation of global players but also covers the market holding of local players in each country. Market structure by country with market holding by market leaders, market followers, and local players make this report a comprehensive and insightful industry outlook. The report has covered the mergers and acquisitions, strategic alliances, joint ventures, and partnerships happening in the market by region, by investment, and their strategic intent. Hydrogen Compressor Market To know about the Research Methodology :- Request Free Sample Report

Hydrogen Compressor Market Dynamics:

Growing demand for hydrogen compressors in the mobility sector: 1. Hydrogen compressors at petrol stations: Fuel Cell Electric Vehicles (FCEV) utilizing hydrogen as a fuel are a central theme for future transportation, alongside Battery Electric Vehicles (BEV). Regulations are already in place, and discharge pressures of up to 1,000 bar are already necessary. 2. Hydrogen-fueled road transport: The cargo movement with light and heavy trucks and semis is the center of hydrogen-powered road transport. Battery technology cannot meet their high energy requirement for lengthy endurance paired with shorter recharge intervals. There are currently several hydrogen fuel cell electric truck companies on the market. 3. Hydrogen in rail-bound transport: For rail-bound transportation in places lacking overhead power lines, hydrogen-powered trains can replace diesel-powered vehicles. In several countries around the world, the first few hydrogen-electric vehicles with a range of more than 800 km (500 miles) and peak speeds of 140 kph (85 mph) are already on the road. 4. Hydrogen for climate neutral zero emission maritime transport: Hydrogen is now being used in zero-emission maritime transportation. The first hydrogen-powered ferries and smaller freight ships are now being tested by various R&D divisions. In addition, for climate-neutral sea transport, synthetic fuels generated from hydrogen and collected CO2 are a possibility. These custom-made fuels may also become the fuel for the future aviation industry. Emerging companies in hydrogen compression technologies should capitalize on diaphragm compressors: A diaphragm compressor is the recommended design for hydrogen applications. This is because of a slew of variables, including: 1. Product Purity: The diaphragm functions as a secure barrier between the hydrogen and the hydraulic fluids of the compressor. These compressors have three diaphragm sets to enhance process purity. This is critical for fuel cell applications since even slight leakage can decrease the performance of a fuel cell. 2. High Compression Ratio: Diaphragm compressors produce compression ratios of 10:1 at each stage by carefully controlling the shaped cavities and clearance volumes. A 2-stage unit has a 180-degree piston offset between compression stages, so when one head is on the discharge stroke, the second head is on the suction stroke. As a consequence, the best efficiency and lowest power consumption are achieved. 3. Environmental Safety: Static seals in these compressors guarantee that no process gas leaks into the atmosphere, and a leak detection system identifies diaphragm or seal failure instantly. Some of these compressors are based on the API 618 standard, with some modifications owing to the particular design of diaphragm compressors. 4. Custom Engineering: Hydrogen compressors are generally built as per specific client requirements. Every hydrogen compressor is customized to the gas pressure, heat, corrosion, and velocity requirements of the end-use application. Companies use cutting-edge solid modeling and FEA analysis technologies to guarantee that all functioning components are built and tested to minimize wear, enhance sealing, and limit corrosive and erosive impacts. 5. Longer Mean Time between Maintenance Intervals: Compressor component replacement frequency is directly proportional to operational speed. Diaphragm units generally run at speeds ranging from 300 to 325 rpm. Other compressors operate at significantly higher speeds, necessitating more regular maintenance and frequently resulting in downtime. Hydrogen compression is challenging and generally considered to be one of the most expensive process units in the compression supply chain: The development of infrastructure for low-cost hydrogen distribution and delivery will be critical to the future of a hydrogen economy. To that aim, the compression of gaseous hydrogen is a critical technology that permits end-user delivery. Nonetheless, hydrogen compression is difficult and often regarded as one of the most costly process units in the supply chain. Companies implement different compressor designs, and the final choice of compression technology, related costs, energy usage, and consequently GHG emissions are determined by where it is used in the supply chain. Some of the key challenges in hydrogen compression are as follows: 1. Even though natural gas compression is extensively used, hydrogen compression is substantially more difficult due to its low molecular weight and density. 2. The cost of presently available reciprocating compressors, which rely on mechanical pistons with multiple moving components, ranges from several hundred thousand dollars to millions of dollars, based on the scale and compression ratio required. The capital costs linked with these compressors are expected to drop dramatically due to economies of scale. 3. Considering compressing hydrogen requires a lot of energy, the cost of running a hydrogen compressor is dominated by energy/fuel expenses rather than capital costs. 4. Substantial research and development are required to address hydrogen leakage and embrittlement difficulties, as well as to improve the efficiency and reliability of hydrogen compressors.

Hydrogen Compressor Market Segment Analysis:

By End-User, the energy and power segment is expected to grow at a CAGR of 9.4% during the forecast period. High-pressure compressed hydrogen can be used in fuel cells to generate electricity, water, and heat for a wide variety of applications and industries, including drive power for Lorries, cars, buses, commuter trains, ships, and aircraft; backup power; portable power for remote areas; and distributed or coupled heat and power. Indeed, there is a rapidly growing understanding that reducing carbon footprint while maintaining economic development might be a game changer. Hydrogen Compressor Market 1 The market for compressed hydrogen as an alternative and cleaner fuel is growing rapidly, and several nations and regions are implementing green energy regulations. For example, Europe aims to achieve a 50% green energy target by 2030, while California set a target of 100% green energy utilization on its network by 2045. In addition, in 2017, a dozen Fortune 100 corporations formed the Hydrogen Council. It presently has over 40 members, including significant energy and transportation corporations. Similarly, several car manufacturers are already developing hydrogen-fueled vehicles that use fuel cells, such as the Toyota Mirai and the Honda Clarity; and large ship motor manufacturers are engaging in the development of technologies such as dual-fuel ships (combine hydrogen with conventional fuels), combustion engines that operate on a mixture of hydrogen and diesel, and hydrogen as a substitute to electricity for cruisers. However, to obtain widespread adoption among end users in their homes, hydrogen needs to be significantly more cost-competitive. This necessitates the optimization of clean hydrogen production methods as well as a decrease in the costs associated with equipment, storage, maintenance, and delivery.

Hydrogen Compressor Market Regional Insights:

With the 2015 Paris Agreement, Europe established ambitious targets to preserve the global climate. By 2030, greenhouse gas emissions are expected to be 40% lower than in 1990. By 2050, Europe is expected to be carbon-neutral. Belgium, Germany, and Denmark have started to adopt electrolysis to convert excess power from renewable energy plants into renewable hydrogen, which is stored and can be converted back to electricity using a fuel cell as needed. Hydrogen Compressor Market 2 Because of favorable government regulations in countries such as China, Japan, and India, Asia-Pacific is likely to be the most promising market for fuel cells in the forecast period. China has one of the world's largest and fastest-growing hydrogen compressor markets. The country's chemical, oil and gas, and manufacturing industries have grown significantly. Hydrogen centrifugal compressors are utilized for cracked-gas compression and refrigeration services in the refining and petrochemical sectors, such as ethylene factories. Due to ethylene and benzene supply and demand gaps, the government has increased its ethylene and benzene production capacity. The Indian fertilizer sector has grown dramatically during the last five decades. As of 2020, it is the world's second-largest producer of nitrogenous fertilizers and the third-largest producer of phosphatic fertilizers. India produced 410 lakh metric tons of fertilizers in FY19, representing a 0.95% increase over the previous five years. This trend is likely to continue during the forecast period, increasing demand for hydrogen compressors in the region.

Hydrogen Compressor Market Scope: Inquiry Before Buying

Hydrogen Compressor Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 1.51 Bn.
Forecast Period 2022 to 2029 CAGR: 5.79% Market Size in 2029: US $ 2.37 Bn.
Segments Covered: by Type • Oil-Free • Oil-Based
by Technology • Single-Stage • Multi-Stage
by End-User • Oil & Gas • Energy & Power • Chemicals • Automotive • Utility • Other

Hydrogen Compressor Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Some of the prominent players in the Hydrogen Compressor Market include:

Adicomp • Ariel Corporation • Atlas Copco Group • Baker Hughes • Burckhardt Compression AG • Coltri • Corken Inc. • Fornovo Gas Compressors • Haug Kompressoren AG • Howden Group Ltd • Hydro-Pac Inc. • Indian Compressors Ltd • Ingersoll Rand Inc • Sauer Compressors • Sundyne Corp. • Toplong Compressors FAQs: 1. Which region is expected to dominate the Hydrogen Compressor Market at the end of the forecast period? Ans. Asia Pacific is expected to dominate the Hydrogen Compressor market at the end of the forecast period. 2. What is the growth rate of the Energy and Power segment in the Hydrogen Compressor Market? Ans. The energy and power segment is expected to grow at a CAGR of 9.4% during the forecast period. 3. What is expected to drive the growth of the Hydrogen Compressor Market in the forecast period? Ans. Growing demand for hydrogen compressors in the mobility sector. 4. What is the projected market size & growth rate of the Hydrogen Compressor Market? Ans. Hydrogen Compressor Market was valued at US$ 1.51 Bn. in 2021 and the total Hydrogen Compressor revenue is expected to grow at 5.79% from 2022 to 2029, reaching nearly US$ 2.37 Bn. 5. What segments are covered in the Hydrogen Compressor Market report? Ans. The segments covered are Type, Technology, End-User, and Region.
1. Global Hydrogen Compressor Market: Research Methodology 2. Global Hydrogen Compressor Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Hydrogen Compressor Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Hydrogen Compressor Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Hydrogen Compressor Market Segmentation 4.1 Global Hydrogen Compressor Market, by Type (2021-2029) • Oil-Free • Oil-Based 4.2 Global Hydrogen Compressor Market, by Technology (2021-2029) • Single-Stage • Multi-Stage 4.3 Global Hydrogen Compressor Market, by End-User (2021-2029) • Oil & Gas • Energy & Power • Chemicals • Automotive • Utility • Other 5. North America Hydrogen Compressor Market(2021-2029) 5.1 North America Hydrogen Compressor Market, by Type (2021-2029) • Oil-Free • Oil-Based 5.2 North America Hydrogen Compressor Market, by Technology (2021-2029) • Single-Stage • Multi-Stage 5.3 North America Hydrogen Compressor Market, by End-User (2021-2029) • Oil & Gas • Energy & Power • Chemicals • Automotive • Utility • Other 5.4 North America Hydrogen Compressor Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Hydrogen Compressor Market (2021-2029) 6.1. European Hydrogen Compressor Market, by Type (2021-2029) 6.2. European Hydrogen Compressor Market, by Technology (2021-2029) 6.3. European Hydrogen Compressor Market, by End-User (2021-2029) 6.4. European Hydrogen Compressor Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Hydrogen Compressor Market (2021-2029) 7.1. Asia Pacific Hydrogen Compressor Market, by Type (2021-2029) 7.2. Asia Pacific Hydrogen Compressor Market, by Technology (2021-2029) 7.3. Asia Pacific Hydrogen Compressor Market, by End-User (2021-2029) 7.4. Asia Pacific Hydrogen Compressor Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Hydrogen Compressor Market (2021-2029) 8.1 Middle East and Africa Hydrogen Compressor Market, by Type (2021-2029) 8.2. Middle East and Africa Hydrogen Compressor Market, by Technology (2021-2029) 8.3. Middle East and Africa Hydrogen Compressor Market, by End-User (2021-2029) 8.4. Middle East and Africa Hydrogen Compressor Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Hydrogen Compressor Market (2021-2029) 9.1. South America Hydrogen Compressor Market, by Type (2021-2029) 9.2. South America Hydrogen Compressor Market, by Technology (2021-2029) 9.3. South America Hydrogen Compressor Market, by End-User (2021-2029) 9.4 South America Hydrogen Compressor Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Adicomp 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Ariel Corporation 10.3 Atlas Copco Group 10.4 Baker Hughes 10.5 Burckhardt Compression AG 10.6 Coltri 10.7 Corken Inc. 10.8 Fornovo Gas Compressors 10.9 Haug Kompressoren AG 10.10 Howden Group Ltd 10.11 Hydro-Pac Inc. 10.12 Indian Compressors Ltd 10.13 Ingersoll Rand Inc 10.14 Sauer Compressors 10.15 Sundyne Corp. 10.16 Toplong Compressors

About This Report

Report ID 168514
Category Energy & Power
Published Date Dec 2022
Updated Date
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