Hydrogen Compressor Trends and Forecast
The future of the global hydrogen compressor market looks promising with opportunities in the oil & gas, chemical, and automotive markets. The global hydrogen compressor market is expected to reach an estimated $2.3 billion by 2030 with a CAGR of 4.2% from 2024 to 2030. The major drivers for this market are increasing demand for hydrogen in industries like refineries & chemicals, growing investments in hydrogen energy storage solutions, and rise in hydrogen fuel cell vehicles.
• Lucintel forecasts that mechanical compressor will remain the larger segment over the forecast period.
• Within this market, oil & gas will remain the largest segment.
• APAC is expected to witness highest growth over the forecast period.
United States: The U.S. has seen a surge in hydrogen compressor demand due to initiatives by companies like Air Products and Linde, backed by government targets to reduce carbon emissions. Investments in hydrogen infrastructure are also being accelerated to meet growing demand from industries and fuel cell vehicles.
Germany: Companies like Siemens Energy and MAN Energy Solutions are leading the way in hydrogen compressor technology, supporting the governmentÄX%$%Xs ambitious targets for hydrogen production and utilization. Collaborations between companies and research institutions are driving innovations in efficient compression and storage solutions.
Japan: With companies like Iwatani Corporation and Kawasaki Heavy Industries at the forefront, Japan is rapidly expanding its hydrogen infrastructure. Government incentives and partnerships with automakers like Toyota are driving the adoption of hydrogen fuel cell vehicles, boosting the demand for advanced hydrogen compression technologies.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Hydrogen Compressor by Segment
The study includes a forecast for the global hydrogen compressor by technology type, lubrication type, end use, and region.
Hydrogen Compressor Market by Technology Type [Shipment Analysis by Value from 2018 to 2030]:
• Mechanical Compressors
• Non-Mechanical Compressors
Hydrogen Compressor Market by Lubrication Type [Shipment Analysis by Value from 2018 to 2030]:
• Oil-Based
• Oil-Free
Hydrogen Compressor Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Oil & Gas
• Chemical
• Automotive
• Others
Hydrogen Compressor Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Hydrogen Compressor Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies hydrogen compressor companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the hydrogen compressor companies profiled in this report include-
• IDEX CORPORATION
• ARIEL CORPORATION
• HAUG SAUER KOMPRESSOREN
• Burckhardt Compression Holding
• ATLAS COPCO
• Ingersoll Rand
• NEL ASA
• Chart Industries
• Fluitron
• Hitachi
Recent Development in the Hydrogen Compressor Market
Air Products: The company has announced a major initiative to expand its hydrogen compressor manufacturing capacity in response to the increasing demand for hydrogen infrastructure globally. This expansion includes the development of advanced compression technologies to support the growing hydrogen economy.
Siemens Energy: Siemens Energy is focusing on developing next-generation hydrogen compression solutions aimed at improving efficiency and reducing carbon emissions. Their initiatives include research and development projects in collaboration with industry partners to advance hydrogen compression technology.
Linde: Linde has unveiled plans to invest significantly in hydrogen compression technology, aiming to enhance the reliability and performance of hydrogen infrastructure. The company is also exploring partnerships with other industry players to accelerate the adoption of hydrogen as a clean energy source.
MAN Energy Solutions: MAN Energy Solutions is actively involved in developing hydrogen compression systems optimized for various applications, including industrial processes and transportation. Their initiatives focus on increasing the energy efficiency of hydrogen compression and lowering operational costs for end-users.
Iwatani Corporation: Iwatani Corporation is expanding its presence in the hydrogen compressor market by introducing innovative compression solutions tailored to meet the specific needs of different industries. The companyÄX%$%Xs initiatives include strategic partnerships and investments in research to drive advancements in hydrogen compression technology.
Features of the Global Hydrogen Compressor Market
Market Size Estimates: Hydrogen compressor market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Hydrogen compressor market size by technology type, lubrication type, end use, and region in terms of value ($B).
Regional Analysis: Hydrogen compressor market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different technology types, lubrication types, end uses, and regions for the hydrogen compressor market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the hydrogen compressor market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the hydrogen compressor market size?
Answer: The global hydrogen compressor market is expected to reach an estimated $2.3 billion by 2030.
Q2. What is the growth forecast for hydrogen compressor market?
Answer: The global hydrogen compressor market is expected to grow with a CAGR of 4.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the hydrogen compressor market?
Answer: The major drivers for this market are increasing demand for hydrogen in industries like refineries & chemicals, growing investments in hydrogen energy storage solutions, and rise in hydrogen fuel cell vehicles.
Q4. What are the major segments for hydrogen compressor market?
Answer: The future of the hydrogen compressor market looks promising with opportunities in the oil & gas, chemical, and automotive markets.
Q5. Who are the key hydrogen compressor market companies?
Answer: Some of the key hydrogen compressor companies are as follows:
• IDEX CORPORATION
• ARIEL CORPORATION
• HAUG SAUER KOMPRESSOREN
• Burckhardt Compression Holding
• ATLAS COPCO
• Ingersoll Rand
• NEL ASA
• Chart Industries
• Fluitron
• Hitachi
Q6. Which hydrogen compressor market segment will be the largest in future?
Answer: Lucintel forecasts that mechanical compressor will remain the larger segment over the forecast period.
Q7. In hydrogen compressor market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the hydrogen compressor market by technology type (mechanical compressors and non-mechanical compressors), lubrication type (oil-based and oil-free), end use (oil & gas, chemical, automotive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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