The Worldwide Hydrogen Compressor Industry is Projected to Reach $2.7 Billion by 2031 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 19, 2022--
The “Hydrogen Compressor Market By Technology Type, By Lubrication Type, By End User Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The global hydrogen compressor market size was valued at $1,884.0 million in 2021, and is projected to reach $2,785.5 million by 2031, registering a CAGR of 4.0% from 2022 to 2031.
Hydrogen compressor is a device that is used to reduce volume to raise hydrogen pressure, which results in liquid hydrogen, also known as compressed hydrogen.
Reciprocating piston compressors are employed to pressurize hydrogen. The technique is frequently employed in refineries to help with crude oil refinement. Hydrogen is increasingly being used in refineries for processing fuels and eliminating impurities. The hydrogen fuel cell provides continuous electricity while needing less maintenance, space, and noise.
Hydrogen compressors are used in a variety of industries such as oil & gas, chemical, and automotive. Many automotive manufacturers are attempting to develop hydrogen fuel cell automobiles. These vehicles are currently undergoing R&D. As a result, this factor serves as a major driver of the hydrogen compressor industry.
Furthermore, the number of hydrogen refueling stations are growing significantly across various nations, which is expected to notably contribute toward the growth of the global market.
Various key players are strengthening their market position and expanding their business by acquiring other companies, which will enhance their product portfolio. For instance, in January 2021, Burckhardt Compression acquired a Chinese compressor manufacturer Shenyang Yuanda Compressor.
With this acquisition, Burckhardt Compression gained direct access to a well-established local supply chain in China. Hence, this acquisition in business is anticipated to increase the distribution of hydrogen compressors, which is likely to be opportunistic for the growth of the global market during the forecast period.
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hydrogen compressor market analysis from 2021 to 2031 to identify the prevailing hydrogen compressor market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hydrogen compressor market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hydrogen compressor market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology Type
- Mechanical Compressors
- Non-Mechanical Compressors
By Lubrication Type
By End User Industry
- Oil and Gas
- North America
- Rest Of Europe
- Rest Of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- 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
For more information about this report visit https://www.researchandmarkets.com/r/bz21km
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INDUSTRY KEYWORD: OTHER MANUFACTURING MANUFACTURING
SOURCE: Research and Markets
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PUB: 12/19/2022 08:58 AM/DISC: 12/19/2022 08:57 AM