Abstract
Summary
The global hydrogen compressors market is estimated to grow from USD 2.1 billion in 2023 to USD 2.6 billion by 2028; it is expected to record a CAGR of 4.5% during the forecast period. Growing investments in hydrogen-related infrastructure and projects from both the public and private sectors contribute to the growth of the hydrogen compressor industry. These investments accelerate the adoption and commercialization of hydrogen compressor technology. Government subsidies and regulatory frameworks aimed at promoting clean energy technologies further drive the growth of the hydrogen compressor market.
“Oil-based compressor: The largest segment of the hydrogen compressors market, by lubrication type. “
Based on lubrication type, the hydrogen compressors market is split into two segments: oil-based & oil-free. Oil-based compressors dominate the hydrogen compressor industry because they are more efficient than oil-free compressors. Oil-based compressors employ oil as a cooling medium, absorbing around 80% of the heat generated by the compressor during compression, resulting in higher efficiency. They are deemed appropriate for a variety of industrial applications that demand increased compression. The increased investment in the oil and gas sector is expected to raise demand for hydrogen compressors.
“The hydrogen value chain/infrastructure, by end-use application, is expected to be the fastest growing segment during the forecast period.”
Based on end-use application, the hydrogen compressors market has been split into hydrogen value chain/infrastructure & Industrial application. The hydrogen compressors market for hydrogen value chain/infrastructure is anticipated to be the fastest growing market share over the forecast period. It is further divided into Hydrogen production & storage, Transportation, hydrogen refueling stations, hydrogen fuel cells. There are lot of initiatives & billions of dollars being invested in the market by both government & private companies. For example, The Biden-Harris Administration stated that seven regional clean hydrogen hubs in the United States will receive a total of USD 7 billion in funding. These centers are planned to produce more than three million metric tons of clean hydrogen per year, helping the United States meet its clean hydrogen production goal by 2030. Efforts are being made to construct new hydrogen pipeline networks, with an emphasis on overcoming the specific problems posed by hydrogen's characteristics to pipeline materials and compressor design. One of the major initiatives in Europe is a partnership between Phillips 66 and H2 Energy Europe to build a network of around 250 hydrogen refueling stations by 2026.
“North America is expected to be the second largest growing region in the hydrogen compressor market.”
North America is expected to be the second largest region in the hydrogen compressors market during the forecast period. The region's emphasis on sustainable energy, as well as the increasing usage of hydrogen fuel cell vehicles, are all contributing to market growth. Furthermore, the United States Department of Energy's financing and support for R&D efforts has resulted in multiple patents and new technologies in the market, cementing North America's position as a pioneer in hydrogen compressor production. One of the recent contracts in the region includes collaboration between the National Renewable Energy Laboratory (NREL) and Toyota Motor North America in developing a one-megawatt proton exchange membrane fuel cell system showcases advancements in large-scale power production using hydrogen fuel cells which will lead to need in hydrogen compressors. Companies in the United States have been making investments to increase their market share in the hydrogen compressor sector. This includes the development of improved compressor technologies specifically designed for hydrogen production, transit, and use. Ariel Corporation, Atlas Copco Group, and Burckhardt Compression AG are among the prominent players in the region.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 60%, Tier 2- 25%, and Tier 3- 15%
By Designation: C-Level- 35%, Director Level- 25%, and Others- 40%
By Region: North America- 25%, Europe- 25%, Asia Pacific- 30%, South America – 10%, Middle East & Africa – 10%
Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The hydrogen compressors market is dominated by a few major players that have a wide regional presence. The leading players in the hydrogen compressors market are Atlas Copco AB (Sweden), Linde plc (Ireland), Siemens Energy (Germany), Air Products and Chemicals, Inc. (US), Ingersoll Rand (US). The major strategy adopted by the players includes new product launches, contracts, agreements, partnerships, joint ventures, acquisitions, and investments & expansions.
Research Coverage:
The report defines, describes, and forecasts the global hydrogen compressors market by technology, lubrication type, by design, end-use application and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the hydrogen compressor market.
Key Benefits of Buying the Report
• Government initiatives at the national and international levels amplify the impact of investment on the electrolyzer market. Robust policy frameworks, often accompanied by financial incentives, subsidies, and regulatory support, encourage widespread adoption of hydrogen compressors for green hydrogen production. Factors such as high initial cost and lack of infrastructure restrain the growth of the market. The growing energy transition towards renewable energy sources and rapid urbanization are expected to present lucrative opportunities for the players operating in the hydrogen compressor market.
• Product Development/ Innovation: The new HAUG.Sirius NanoLoc compressor is the first compressor which combines J.P. Sauer & Sohn's high-pressure competence with HAUG Sauer Kompressoren AG's oil-free expertise. The machines are entirely dry-running and hermetically gas-tight and are intended for applications requiring absolute process safety and purity. The compressor, with an ultimate pressure of 450 bar, allows for oil-free compression of nearly any gas.
• Market Development: Atlas Copco Compressors is partnering with Hoffman & Hoffman to develop a new distributor agreement for Atlas Copco's whole line of industrial process cooling solutions. Hoffman & Hoffman will exclusively represent the product line throughout South Carolina, North Carolina, Virginia, and Tennessee.
• Market Diversification: Investments by Ingersoll Rand in India. Ingersoll Rand, a global leader in mission-critical flow creation and industrial technologies, is investing in its Indian operations to promote expanded technological innovation, hydrogen compressor manufacture and testing, and manufacturing capacity development. At its world-class manufacturing site in Naroda, Gujarat, it has introduced energy-efficient Heat-of-compression (HOC) dryers.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include as Atlas Copco AB (Sweden), Linde plc (Ireland), Siemens Energy (Germany), Air Products and Chemicals, Inc. (US), Ingersoll Rand (US), among others in the hydrogen compressor market.
Table of Contents
1 INTRODUCTION 27
1.1 STUDY OBJECTIVES 27
1.2 MARKET DEFINITION 28
1.2.1 INCLUSIONS AND EXCLUSIONS 28
1.3 STUDY SCOPE 29
1.3.1 MARKET SEGMENTATION 29
1.3.2 REGIONAL SCOPE 29
1.3.3 YEARS CONSIDERED 30
1.3.4 CURRENCY CONSIDERED 30
1.4 LIMITATIONS 30
1.5 STAKEHOLDERS 31
1.6 RECESSION IMPACT ON HYDROGEN COMPRESSORS MARKET 31
2 RESEARCH METHODOLOGY 32
2.1 RESEARCH DATA 32
2.1.1 SECONDARY DATA 33
- 2.1.1.1 Key data from secondary sources 33
2.1.2 PRIMARY DATA 33
- 2.1.2.1 Key data from primary sources 34
- 2.1.2.2 Breakdown of primaries 34
2.2 DATA TRIANGULATION 35
2.3 MARKET SIZE ESTIMATION 36
2.3.1 BOTTOM-UP APPROACH 37
2.3.2 TOP-DOWN APPROACH 37
2.3.3 DEMAND-SIDE ANALYSIS 38
- 2.3.3.1 Demand-side assumptions 39
- 2.3.3.2 Demand-side calculations 39
2.3.4 SUPPLY-SIDE ANALYSIS 40
- 2.3.4.1 Supply-side assumptions and calculations 41
2.4 FORECAST 41
2.5 STUDY LIMITATIONS 42
2.6 RISK ASSESSMENT 42
2.7 RECESSION IMPACT 42
3 EXECUTIVE SUMMARY 43
4 PREMIUM INSIGHTS 48
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN HYDROGEN COMPRESSORS MARKET 48
4.2 HYDROGEN COMPRESSORS MARKET, BY REGION 48
4.3 HYDROGEN COMPRESSORS MARKET, BY TYPE 49
4.4 HYDROGEN COMPRESSORS MARKET, BY DESIGN 49
4.5 HYDROGEN COMPRESSORS MARKET, BY LUBRICATION TYPE 50
4.6 HYDROGEN COMPRESSORS MARKET, BY APPLICATION 50
4.7 ASIA PACIFIC: HYDROGEN COMPRESSORS MARKET, BY APPLICATION AND COUNTRY 51
5 MARKET OVERVIEW 52
5.1 INTRODUCTION 52
5.2 MARKET DYNAMICS 53
5.2.1 DRIVERS 53
- 5.2.1.1 Government initiatives and policies to curb greenhouse gas (GHG) emissions 53
- 5.2.1.2 Substantial clean energy investments in developing economies 54
- 5.2.1.3 Rising demand for oil-free hydrogen compressors 55
5.2.2 RESTRAINTS 55
- 5.2.2.1 High maintenance cost of hydrogen compressors 55
- 5.2.2.2 Safety standards associated with hydrogen compressors 55
5.2.3 OPPORTUNITIES 56
- 5.2.3.1 Increasing emphasis on net-zero carbon emission goals 56
- 5.2.3.2 Expansion of hydrogen refueling infrastructure 56
- 5.2.3.3 Increased demand for hydrogen compressors from oil & gas industry 57
5.2.4 CHALLENGES 57
- 5.2.4.1 Underdeveloped hydrogen infrastructure 57
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 57
5.4 PRICING ANALYSIS 58
5.4.1 AVERAGE SELLING PRICE TREND, BY REGION 58
5.4.2 INDICATIVE PRICING TREND, BY TYPE 58
5.5 SUPPLY CHAIN ANALYSIS 59
5.5.1 RAW MATERIAL SUPPLIERS 59
5.5.2 COMPONENT PROVIDERS 59
5.5.3 HYDROGEN COMPRESSOR MANUFACTURERS 59
5.5.4 END USERS 60
5.6 ECOSYSTEM/MARKET MAP 61
5.7 TRADE ANALYSIS 62
5.7.1 EXPORT SCENARIO 62
5.7.2 IMPORT SCENARIO 63
5.8 TECHNOLOGY ANALYSIS 63
5.8.1 RECIPROCATING COMPRESSORS 64
5.8.2 ROTARY COMPRESSORS 64
5.8.3 IONIC COMPRESSORS 64
5.8.4 CENTRIFUGAL COMPRESSORS 64
5.8.5 NON-MECHANICAL COMPRESSORS 64
5.9 CASE STUDY ANALYSIS 64
5.9.1 ADOPTION OF HYDROGEN COMPRESSION FOR FUELING STATIONS 64
- 5.9.1.1 Problem statement 64
- 5.9.1.2 Solution 64
5.9.2 HOWDEN AND PIONEER EPC CONTRACTOR PARTNERED TO INTEGRATE HYDROGEN COMPRESSORS IN REFINERIES 65
- 5.9.2.1 Problem statement 65
- 5.9.2.2 Solution 65
5.10 KEY CONFERENCES AND EVENTS, 2024-2025 65
5.11 PATENT ANALYSIS 68
5.11.1 LIST OF MAJOR PATENTS 69
5.12 TARIFF AND REGULATORY LANDSCAPE 71
5.12.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 71
5.12.2 HYDROGEN COMPRESSORS MARKET: REGULATORY FRAMEWORK 73
5.13 PORTER’S FIVE FORCES ANALYSIS 74
5.13.1 THREAT OF NEW ENTRANTS 75
5.13.2 BARGAINING POWER OF SUPPLIERS 75
5.13.3 BARGAINING POWER OF BUYERS 76
5.13.4 THREAT OF SUBSTITUTES 76
5.13.5 INTENSITY OF COMPETITIVE RIVALRY 76
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 77
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 77
5.14.2 BUYING CRITERIA 77
6 HYDROGEN COMPRESSORS MARKET, BY TYPE 78
6.1 INTRODUCTION 79
6.2 MECHANICAL COMPRESSORS 80
6.2.1 SUITABILITY FOR VARIOUS APPLICATIONS TO PROPEL DEMAND FOR MECHANICAL COMPRESSORS 80
- 6.2.1.1 Reciprocating compressors 80
- 6.2.1.2 Rotary compressors 80
- 6.2.1.3 Ionic compressors 80
- 6.2.1.4 Centrifugal compressors 80
6.3 NON-MECHANICAL COMPRESSORS 81
6.3.1 ADVANTAGES SUCH AS LACK OF MOVING PARTS AND COMPACT SIZE TO INDUCE DEMAND FOR NON-MECHANICAL COMPRESSORS 81
- 6.3.1.1 Metal hydride compressors 81
- 6.3.1.2 Electrochemical hydrogen compressors (EHCs) 82
- 6.3.1.3 Adsorption-desorption compressors 82
7 HYDROGEN COMPRESSORS MARKET, BY DESIGN 83
7.1 INTRODUCTION 84
7.2 SINGLE-STAGE 84
7.2.1 GROWING INVESTMENTS IN OIL REFINERIES TO PROPEL DEMAND FOR SINGLE-STAGE HYDROGEN COMPRESSORS 84
7.3 MULTI-STAGE 85
7.3.1 USE OF MULTI-STAGE COMPRESSORS IN HEAVY-DUTY APPLICATIONS TO DRIVE SEGMENT 85
8 HYDROGEN COMPRESSORS MARKET, BY LUBRICATION TYPE 86
8.1 INTRODUCTION 87
8.2 OIL-BASED COMPRESSORS 88
8.2.1 RELIABILITY AND VERSATILE NATURE TO FUEL DEMAND FOR OIL-BASED COMPRESSORS 88
8.3 OIL-FREE COMPRESSORS 89
8.3.1 ABILITY TO PROVIDE HIGH-QUALITY AIR FREE FROM CONTAMINATION TO BOOST DEMAND FOR OIL-FREE COMPRESSORS 89
9 HYDROGEN COMPRESSORS MARKET, BY APPLICATION 90
9.1 INTRODUCTION 91
9.2 HYDROGEN INFRASTRUCTURE 92
9.2.1 HYDROGEN STORAGE & PIPELINE TRANSPORTATION 93
- 9.2.1.1 Need to increase storage density and minimize storage volume to boost adoption of hydrogen compressors 93
9.2.2 HYDROGEN REFUELING STATIONS 94
- 9.2.2.1 Increased adoption of fuel cell vehicles to drive segment 94
9.3 INDUSTRIAL 94
9.3.1 OIL REFINING 95
- 9.3.1.1 Growing use of hydrogen in various oil refining processes to drive segment 95
9.3.2 CHEMICAL & PETROCHEMICAL 96
- 9.3.2.1 Increasing demand for chemical- and petrochemical-derived products to drive segment 96
9.3.3 OTHER INDUSTRIAL APPLICATIONS 97
10 HYDROGEN COMPRESSORS MARKET, BY REGION 99
10.1 INTRODUCTION 100
10.2 NORTH AMERICA 102
10.2.1 NORTH AMERICA: RECESSION IMPACT 103
10.2.2 BY LUBRICATION TYPE 104
10.2.3 BY TYPE 104
10.2.4 BY DESIGN 104
10.2.5 BY APPLICATION 104
- 10.2.5.1 US 105
- 10.2.5.1.1 Growing oil and gas exploration operations to boost demand for hydrogen compressors 105
- 10.2.5.2 Canada 106
- 10.2.5.2.1 Investment by key players in hydrogen compressors and new technologies to augment market growth 106
- 10.2.5.1 US 105
10.3 ASIA PACIFIC 107
10.3.1 ASIA PACIFIC: RECESSION IMPACT 108
10.3.2 BY LUBRICATION TYPE 109
10.3.3 BY TYPE 109
10.3.4 BY DESIGN 109
10.3.5 BY APPLICATION 110
10.3.6 BY COUNTRY 111
- 10.3.6.1 China 111
- 10.3.6.1.1 Focus on domestic production of hydrogen compressors to foster market growth 111
- 10.3.6.2 Japan 112
- 10.3.6.2.1 Government push toward carbon neutrality to boost adoption of hydrogen compressors 112
- 10.3.6.3 South Korea 113
- 10.3.6.3.1 Focus on developing hydrogen refueling stations in coming years to create opportunities for market players 113
- 10.3.6.4 India 113
- 10.3.6.4.1 Growing hydrogen exploration operations to drive market 113
- 10.3.6.5 Australia 114
- 10.3.6.5.1 Significant potential for hydrogen production and government focus on renewable energy to drive market 114
- 10.3.6.6 Rest of Asia Pacific 115
- 10.3.6.1 China 111
10.4 EUROPE 116
10.4.1 EUROPE: RECESSION IMPACT 116
10.4.2 BY LUBRICATION TYPE 116
10.4.3 BY TYPE 116
10.4.4 BY DESIGN 117
10.4.5 BY APPLICATION 117
10.4.6 BY COUNTRY 118
- 10.4.6.1 Germany 118
- 10.4.6.1.1 Efforts to advance hydrogen infrastructure and promote shift toward green energy to drive market 118
- 10.4.6.2 France 119
- 10.4.6.2.1 Investment by key players in hydrogen compressors to propel market 119
- 10.4.6.3 UK 120
- 10.4.6.3.1 Government focus on transitioning to low-carbon economy to favor market growth 120
- 10.4.6.4 Italy 120
- 10.4.6.4.1 Demand from refining and chemicals industries to underpin market growth 120
- 10.4.6.5 Norway 121
- 10.4.6.5.1 Active participation in development of hydrogen compressors and storage systems to support market growth 121
- 10.4.6.6 Rest of Europe 122
- 10.4.6.1 Germany 118
10.5 MIDDLE EAST & AFRICA 122
10.5.1 MIDDLE EAST & AFRICA: RECESSION IMPACT 123
10.5.2 BY LUBRICATION TYPE 123
10.5.3 BY TYPE 123
10.5.4 BY DESIGN 123
10.5.5 BY APPLICATION 124
10.5.6 BY COUNTRY 125
- 10.5.6.1 GCC Countries 126
- 10.5.6.1.1 Saudi Arabia 126
- 10.5.6.1.1.1 Substantial investments in hydrogen generation by government to drive market 126
- 10.5.6.1.2 UAE 127
- 10.5.6.1.2.1 Significant investments in hydrogen sector to drive market 127
- 10.5.6.1.3 Qatar 127
- 10.5.6.1.3.1 Investment by key players in R&D Activities to boost market growth 127
- 10.5.6.1.4 Rest of GCC 128
- 10.5.6.1.1 Saudi Arabia 126
- 10.5.6.2 South Africa 129
- 10.5.6.2.1 Active government investments in hydrogen-related initiatives to drive market 129
- 10.5.6.3 Rest of Middle East & Africa 129
- 10.5.6.1 GCC Countries 126
10.6 SOUTH AMERICA 130
10.6.1 RECESSION IMPACT: SOUTH AMERICA 130
10.6.2 BY LUBRICATION TYPE 131
10.6.3 BY TYPE 131
10.6.4 BY DESIGN 131
10.6.5 BY APPLICATION 131
- 10.6.5.1 Brazil 133
- 10.6.5.1.1 Collaborations and partnerships among key players and government bodies to drive market expansion 133
- 10.6.5.2 Argentina 133
- 10.6.5.2.1 Investment by key players in hydrogen compressors and new technologies to boost market 133
- 10.6.5.3 Rest of South America 134
- 10.6.5.4 By application 134
- 10.6.5.1 Brazil 133
11 COMPETITIVE LANDSCAPE 135
11.1 OVERVIEW 135
11.2 STRATEGIES ADOPTED BY KEY PLAYERS, 2019-2023 135
11.3 MARKET SHARE ANALYSIS, 2022 136
11.4 REVENUE ANALYSIS, 2020-2022 137
11.5 COMPETITIVE SCENARIOS AND TRENDS 137
11.5.1 DEALS 137
11.5.2 OTHERS 139
11.6 COMPANY EVALUATION MATRIX: KEY PLAYERS 140
11.6.1 STARS 140
11.6.2 EMERGING LEADERS 140
11.6.3 PERVASIVE PLAYERS 140
11.6.4 PARTICIPANTS 140
11.6.5 COMPANY FOOTPRINT 142
11.7 COMPANY EVALUATION MATRIX: OTHER PLAYERS 148
11.7.1 STARS 148
11.7.2 EMERGING LEADERS 148
11.7.3 PERVASIVE PLAYERS 148
11.7.4 PARTICIPANTS 148
11.7.5 COMPETITIVE BENCHMARKING 150
12 COMPANY PROFILES 154
12.1 KEY COMPANIES 154
12.1.1 ATLAS COPCO AB 154
12.1.2 LINDE PLC 158
12.1.3 AIR PRODUCTS AND CHEMICALS, INC 161
12.1.4 INGERSOLL RAND 164
12.1.5 SIEMENS ENERGY 168
12.1.6 MITSUBISHI HEAVY INDUSTRIES, LTD 171
12.1.7 KOBE STEEL, LTD 173
12.1.8 HITACHI INDUSTRIAL PRODUCTS, LTD 175
12.1.9 SUNDYNE 177
12.1.10 HOWDEN GROUP 179
12.1.11 NEUMAN & ESSER GROUP 181
12.1.12 HAUG SAUER KOMPRESSOREN AG 183
12.1.13 ARIEL CORPORATION 185
12.1.14 INDIAN COMPRESSORS LTD 187
12.1.15 ADICOMP S.R.L 188
12.2 OTHER PLAYERS 189
12.2.1 KEEPWIN TECHNOLOGY HEBEI CO., LTD 189
12.2.2 PURE ENERGY CENTRE 189
12.2.3 FLUITRON 190
12.2.4 CYRUS S.A 190
12.2.5 AEROTECNICA COLTRI S.P.A 191
12.2.6 HYDRO-PAC, INC 191
12.2.7 SOLLANT 192
12.2.8 IDEX INDIA 192
12.2.9 MEHRER COMPRESSION GMBH 193
12.2.10 GRUPPO SIAD 193
13 APPENDIX 194
13.1 INSIGHTS FROM INDUSTRY EXPERTS 194
13.2 DISCUSSION GUIDE 195
13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 199
13.4 CUSTOMIZATION OPTIONS 201
13.5 RELATED REPORTS 201
13.6 AUTHOR DETAILS 202