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Hydrogen Compressor Market By Technology (Single-Stage, Multi Stage), By Type (Oil-based, Oil-free), By End User (Oil and Gas, Chemical, Utility Industry, Others) - Growth, Future Prospects, and Competitive Landscape, 2019 -2027

The increasing number of hydrogen fueling stations and growing oil & gas refineries across the globe are the key factors driving the demand for hydrogen Compressors.

The global hydrogen compressor market is poised to reach US$ 3.09 Bn by 2027, expanding at a CAGR of 6.8% during the forecast period from 2019 to 2027. An increase in the number of hydrogen gas pipelines, innovations in automotive industries, government policies for clean fuel, and growing demand for hydrogen fueling stations are the major factors driving demand for hydrogen Compressors worldwide. However, higher initial costs, frequent maintenance, and dynamic price for raw materials are the major challenges faced by the hydrogen compressor market. 

Market Synopsis

Increasing demand for Hydrogen in the Transportation sector is going to drive the market.

Hydrogen fuel cells are considered one of the most emerging technology in the automotive segment, which is expected to create ample opportunities for the hydrogen Compressor market. However, few manufacturers like Hitachi Ltd. and Howden Joinery Group PLC have started developing this technology to cater to this emerging market. In recent years, hydrogen fueling stations are expected to be the major drivers boosting the use of hydrogen Compressors. As a result, the United Kingdom is investing more in building distribution infrastructures for hydrogen fuel stations. Out of 327 operational stations worldwide, around 139 stations are based in Europe, 118 in the Asia Pacific, 68 in North America, and one in South America and Australia.

In 2018, according to International Energy Agency (IEA), there were around 12,900 units of fuel cell vehicles and 376 hydrogen fueling stations (HFS) globally. Europe holds 172 HFS, followed by the Asia Pacific with 132 HFS, North America with 70 HFS, and the Rest of the World with 2 HFS.

The Asia Pacific to Dominate, North America to Witness Strong Growth

The Asia Pacific is expected to be the growing market for hydrogen fuel cells due to government policies and regulations over automotive sectors in countries like China, Japan, and India. For example, in 2015, the Japanese government invested around USD 460 million in the development of hydrogen stations. As a result, the hydrogen Compressor market is expected to experience tremendous demand for petrochemicals and hydrogen fuel cell vehicle industries. Furthermore, in India, manufacturers are coming up with hydrogen fuel cell technology in automotive segments such as buses and cars, which are expected to create new opportunities for the hydrogen Compressor market. Moreover, the number of automotive, construction and SMEs in the Asia Pacific region is expected to drive the APAC hydrogen Compressor market.

North America is to witness strong growth in hydrogen Compressors due to its wide variety of applications in industries such as construction, mining, chemicals, and food processing.

Key Players & Competitive Landscape:

Some of the leading manufacturers profiled in the study include Hydro-Pac Inc., Howden Group, Ariel Corporation, Corken Compressor, Atlas Copco AB, Burckhardt Compression AG, HAUG Sauer Kompressoren AG, Gardner Denver, and Hitachi Ltd.

Historical & Forecast Period

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2019 to 2027

Report Scope by Segments

The research study on the hydrogen compressor market offers market size and forecasts based on market dynamics and predominant trends shaping the industry. In addition, the report provides an all-around view of the global hydrogen compressor market based on its technology, type, end-user, and geography. Key segments covered in the report are as follows:

Frequently asked questions :

The market for Hydrogen Compressor Market is expected to reach US$ 3.09 Bn by 2027.

The Hydrogen Compressor Market is expected to see significant CAGR growth over the coming years, at 6.8%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

Competitive Dashboard are some of the major players in the global market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Published Date:  Oct 2019
Category:  Energy
Report ID:   59986
Report Format:   PDF
Pages:   120
Rating:    4.1 (66)
Delivery Time: 24 Hours to 48 Hours   
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