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Hydrogen Compressor Market Growing Demand, Supply and Revenue 2023 to 2031

Hydrogen Compressor Market 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 Opportunity Analysis, Region, and Industry Forecast, 2023-2031


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Econ Market Research

15 days ago | 2 min read

The global Hydrogen Compressor Market size was valued at $2.0 billion in 2022, and is projected to reach $3.8 billion by 2031, growing at a CAGR of 5% from 2023 to 2031. 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.

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Top Key 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

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.

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.

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Market Segmentation:

Hydrogen Compressor Market 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 Opportunity Analysis, Region, and Industry Forecast, 2023-2031

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