Hydrogen Compressor Market

Hydrogen Compressor Market Size, Share, Trends, Growth, and Industry Analysis, By Technology Type (Single Stage, Multi-Stage), By Lubrication Type (Oil-based, Oil-free), By End User Industry (Oil and Gas, Chemical, Automotive, Others), Regional Insights and Forecast to 2032

Manufacturing & Construction | October 2022 | Report ID: EMR0025 | Pages: 165

global hydrogen compressor market size was USD 2.0 billion in 2022 and is predicted to reach USD 3.8 billion in 2031, exhibiting at a CAGR of 5.0% during the forecast period.

 

A hydrogen compressor is a device that increases the pressure of hydrogen gas by decreasing its volume. Reduced vapor liquid hydrogen: most compressors used for gaseous hydrogen compression are either positive displacement or negative displacement, depending on the application. Hydrogen fuels are considered one of the most important technologies and are expected to drive the market during the forecast period.  The hydrogen compressor market consists of the sale of hydrogen compressor devices by entities (organizations, partnerships, or sole proprietors) that increase the pressure of hydrogen by reducing gas volume. The compression in a hydrogen compressor is achieved by moving hydrogen through a compressor that reduces gas volume between the inlet and the discharge. The decrease in volume results in compressed hydrogen or liquid hydrogen.

Market Growth

The global hydrogen compressor market is still in the growth stage. However, the growth rate is expected to be slow owing to the recent discovery of new shale oil deposits in the U.S. and the disagreement related to oil and gas supply between Russia and the Organization of the Islamic Conference Petroleum Exporting Countries (OPEC). Therefore, this discovery and the dispute between The U.S., Russia, and OPEC will potentially make petrol, diesel, and other fuels cheaper. Besides, there are popular alternatives, such as solar power and wind power. Electricity generated from these sources has a more developed market, which will limit the growth of hydrogen compressor market.

Increasing demand for hydrogen from end-use industries is expected to propel the growth of the global hydrogen compressor market. The end-use sectors, such as household energy distribution companies, oil and gas companies, and power generation companies, are increasingly investing in new hydrogen distribution and generation plants to meet consumer requirements and comply with government measures against environmental pollution. For instance, in 2020, in the UK, a groundbreaking hydrogen trial project (HyDeploy) will be underway at Keele University. And this pilot project is led by Cadent in partnership with Northern Gas Networks (NGN) in the UK as an injection of zero-carbon hydrogen into Keele University’s gas grid, which is feeding approximately 101 houses and 31 faculty buildings. Thus, the increase in demand for hydrogen from end-user industries is expected to boost the market for hydrogen compressors.

REPORT SCOPE & SEGMENTATION:

Report Attribute

Details

Projected Market Value (2031)

3.8 billion

Estimated Market Value (2022)

2.0 billion

Base Year

2022

Forecast Years

2023 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Lubrication, Technology, End User Industry and Region

Segments Covered

By Lubrication type, By Application type, By End user Industry and Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Segments covered for the Hydrogen Compressor Market

By Lubrication type

Based on lubrication type, the market is segmented into oil-free and oil-based segments. The oil-based segment dominates the forecast period, owing to its advantages and applications in several end-user industries. In addition, oil-based compressors are considered more efficient than oil-free ones. Oil-based compressors are considered more efficient than oil-free compressors, as oil acts as a cooling medium, taking out approximately 80% of the compressor's heat during the compression process. They are also considered more suitable for industrial usage due to the requirement of a high compression ratio. Although oil-based compressors are more affordable than oil-free compressors, they require continuous maintenance and greater attention when replacing filters and other components used to eliminate the risk of oil leakage. Ongoing oil contamination may result in severe consequences, such as legal issues, spoiled or unsafe products, production downtime, etc. Oil-based hydrogen compressors are mostly preferred in the manufacturing industry (Glass Purification, Iron and Steel Industry, Semiconductor Manufacturing, etc. for operations like gas welding, welding, annealing, and heat treating of metals), Power Plants (Coolant for Generators), Aerospace Applications, Pharmaceuticals, etc.

By Technology Type

Based on technology type, the market is segmented into single-stage and multi-stage (Mechanical Compressors, Non-Mechanical Compressors). The fundamental difference between multi-stage compressors and single-stage compressors is the number of times the gas gets compressed between the inlet valve and the tool nozzle. Multi-stage compressors are primarily used in the filling of storage tanks and hydrogen production plants, as well as for the transportation of hydrogen through pipelines. These compressors can be customized and sized to match the flow of hydrogen gas produced by an electrolyzer.

By End User Industry

By End-User Industry, the energy and power segment are expected to grow at a CAGR of XX% 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, trains, ships, and aircraft; backup power; portable power for remote areas; and distributed or coupled heat and power. There is a rapidly growing understanding that reducing carbon footprints while maintaining economic development might be a game changer in the hydrogen compressor market.

The Toyota Mirai and the Honda Clarity are cars from manufacturers that are already developing hydrogen-fueled vehicles that use fuel cells. Major ship motor producers are also working to develop technologies like dual-fuel ships that use hydrogen along with conventional fuels, diesel and hydrogen-powered combustion engines, and hydrogen as a substitute for electricity on cruise ships. However, hydrogen needs to be much more cost-competitive in order to be widely adopted by end consumers in their homes. This calls for a reduction in the price of equipment, storage, maintenance, and delivery as well as an optimization of clean hydrogen production processes.

Regional Analysis

Based on regional analysis, the market is divided into North America, Europe, Asia Pacific, Central and South America, the Caribbean, the Middle East, and Africa. The hydrogen compressor market in Europe has seen significant growth in recent years due to the seismic shift in regional energy consumption from fossil fuels to alternative fuels. This shift in consumer preference is driven by the various actions taken by the regional government, focusing on fueling the energy sector’s growth through alternative sources. For instance, Hydrogen Mobility Europe (H2ME), a flagship project that focuses on developing strategies to make hydrogen-fueled transport a competitive alternative to fossil fuel. Under the H2ME project, the region focuses on deploying more than 140 alternative-fueled cars and vans and 49 new hydrogen refuelling stations. The total cost of the project is estimated to be around USD 195.4 million. As the initiatives increase the number of fueling stations in Germany, the country leads the countrywide hydrogen compressor market. This growth in the country market can be attributed to the presence of many hydrogen fuel cell vehicles and filling stations.

Asia-Pacific is expected to be the most promising market for fuel cells in the coming years, on account of the favourable government policies in countries such as China, Japan, and India. China is one of the world's largest and fastest-growing markets for hydrogen compressors. In recent years, the country has witnessed significant growth in the chemical, oil and gas, and manufacturing sectors. Hydrogen centrifugal compressors are used for cracked-gas compression and refrigeration services in the refining and petrochemical industries, such as ethylene plants. Due to ethylene and benzene production shortages, the country has been investing increases in the ethylene and benzene production capacity.

Competitive Landscape

The global hydrogen compressor market Some of the major companies include:-

  • Idex Corporation
  • Ariel Corporation
  • Atlas Copco Ab
  • Burckhardt Compression Ag
  • Fluitron, Inc
  • Haug Sauer Kompressoren Ag
  • Hitachi, Ltd
  • Howden Group
  • Ingersoll Rand Inc,
  • Nel Asa

Global Hydrogen Compressor Market, Segmentations

  • By Technology Type
  • Single-Stage
  • Multi-Stage
  • By Lubrication Type
  • Oil-based
  • Oil-free
  • By End User Industry
  • Oil and Gas
  • Chemical
  • Automotive
  • Others

Global Hydrogen Compressor Market, Regional Outlook

  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Norway
    • Netherlands
    • Sweden
    • United Kingdom
    • France
    • Germany
    • Others
  • North America
    • United States
    • Canada
  • Middle East and Africa
    • Turkey
    • Saudi Arabia
    • Iran
    • United Arab Emirates
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
    • Others

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

The hydrogen compressor market is expected to exhibit a CAGR of 5.0% by 2031.
The global hydrogen compressor market is expected to reach USD 3.8 million by 2031.
hydrogen compressor market forecast period is 2024 - 2031
By Lubrication Type (Oil-based, Oil-free), by End User Industry (Oil and Gas, Chemical, Automotive, Others) are some of the segmentations of the hydrogen compressor market.
The dominating companies in the hydrogen compressor market are Idex Corporation, Ariel Corporation, Atlas Copco Ab, Burckhardt Compression Ag, Fluitron, Inc, Haug Sauer Kompressoren Ag, Hitachi, Ltd, Howden Group, Ingersoll Rand Inc, Nel Asa.