Hydrogen Compressor Market by Technology, End-user, Type, Power Range, and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR44071
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The hydrogen compressor market share is expected to increase by USD 841.18 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 2.36%.

This hydrogen compressor market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers hydrogen compressor market segmentation by technology (multistage and single-stage), end-user (oil and gas, chemicals, and others), type (oil-based and oil-free), power range (below 100 hp, 101 hp - 200 hp, and 201 hp and above), and geography (APAC, Europe, North America, MEA, and South America). The hydrogen compressor market report also offers information on several market vendors, including Ariel Corp., Atlas Copco AB, Colfax Corp., Hitachi Ltd., Hydro-Pac Inc., IDEX Corp., J.P. Sauer and Sohn Maschinenbau GmbH, Mitsui E&S Holdings Co. Ltd., Siemens AG, and Trane Technologies Plc among others.

What will the Hydrogen Compressor Market Size be During the Forecast Period?

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Hydrogen Compressor Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growing focus on using hydrogen in refineries is notably driving the hydrogen compressor market growth, although factors such as volatility in crude oil prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hydrogen compressor industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Hydrogen Compressor Market Driver

The demand for hydrogen from the refining industry is growing due to the rising global demand for distillate fuel oil and the strict regulations related to sulfur content. The increasing adoption of hydrogen in refining processes has increased the demand for hydrogen compressors. For instance, the REFHYNE project is one of the flagship projects that promote the use of clean hydrogen in refineries. The hydrogen produced will be used for other applications as well, such as testing the PEM hydrogen electrolysis technology. It will also be used to explore the feasibility of hydrogen in applications such as power generation, transport, heating, and industrial processes. Hence, the demand for hydrogen compressors is expected to increase, owing to the rising demand for hydrogen from the refining industry and the increasing focus on using clean hydrogen.

Key Hydrogen Compressor Market Challenge

The volatility in crude oil prices will be a major challenge for the hydrogen compressor market during the forecast period. Fluctuations in global crude oil prices have a direct impact on the profitability and performance of oil and gas E&P companies. Low crude oil prices compel these companies to cancel or postpone oil and gas E&P projects. In the US, the surplus production of shale oil led to a reduction in crude oil imports and an increase in global crude oil supply. As unexpected price fluctuations affect the market, the recent frequent variations in crude oil prices have severely affected the petroleum industry. Since the oil and gas industry is the major contributor to the global hydrogen compressor market, uncertainties in crude oil prices negatively affect the investments in the oil and gas industry and reduce the sales of hydrogen compressors.

This hydrogen compressor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Hydrogen Compressor Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Ariel Corp.
  • Atlas Copco AB
  • Colfax Corp.
  • Hitachi Ltd.
  • Hydro-Pac Inc.
  • IDEX Corp.
  • J.P. Sauer and Sohn Maschinenbau GmbH
  • Mitsui E&S Holdings Co. Ltd.
  • Siemens AG
  • Trane Technologies Plc

 

This statistical study of the hydrogen compressor market encompasses successful business strategies deployed by the key vendors. The hydrogen compressor market is fragmented and the vendors are deploying growth strategies such as forming strategic partnerships to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The hydrogen compressor market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Hydrogen Compressor Market?

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44% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for hydrogen compressors in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The increase in the number of offshore and onshore oil and gas activities will facilitate the hydrogen compressor market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Technology Segments in the Hydrogen Compressor Market?

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The hydrogen compressor market share growth by the multistage segment will be significant during the forecast period. Multistage oil-based compressors are widely adopted in various end-user segments due to the high level of compression requirements in different production environments.

This report provides an accurate prediction of the contribution of all the segments to the growth of the hydrogen compressor market size and actionable market insights on post COVID-19 impact on each segment.

 

Hydrogen Compressor Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 2.36%

Market growth 2021-2025

$ 841.18 million

Market structure

Fragmented

YoY growth (%)

1.52

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 44%

Key consumer countries

China, US, Germany, India, France, and Brazil

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Ariel Corp., Atlas Copco AB, Colfax Corp., Hitachi Ltd., Hydro-Pac Inc., IDEX Corp., J.P. Sauer and Sohn Maschinenbau GmbH, Mitsui E&S Holdings Co. Ltd., Siemens AG, and Trane Technologies Plc

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Hydrogen Compressor Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive hydrogen compressor market growth during the next five years
  • Precise estimation of the hydrogen compressor market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hydrogen compressor industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of hydrogen compressor market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Technology

    • Market segments
    • Comparison by Technology
    • Multistage - Market size and forecast 2020-2025
    • Single-stage - Market size and forecast 2020-2025
    • Market opportunity by Technology

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Oil and gas - Market size and forecast 2020-2025
    • Chemicals - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Market Segmentation by Type

    • Market segments
    • Comparison by Type
    • Oil-based - Market size and forecast 2020-2025
    • Oil-free - Market size and forecast 2020-2025
    • Market opportunity by Type

    Market Segmentation by Power range

    • Market segments
    • Comparison by Power range
    • Below 100 hp - Market size and forecast 2020-2025
    • 101 hp - 200 hp - Market size and forecast 2020-2025
    • 201 hp and above - Market size and forecast 2020-2025
    • Market opportunity by Power range

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Ariel Corp.
      • Atlas Copco AB
      • Colfax Corp.
      • Hitachi Ltd.
      • Hydro-Pac Inc.
      • IDEX Corp.
      • J.P. Sauer and Sohn Maschinenbau GmbH
      • Mitsui E&S Holdings Co. Ltd.
      • Siemens AG
      • Trane Technologies Plc

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
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      The hydrogen compressor market growth will increase by $841.18 million during 2020-2025.
      The hydrogen compressor market is expected to grow at a CAGR of 2.36% during 2020-2025.
      Technavio has segmented the hydrogen compressor market by technology (Multistage and Single-stage) ,end user (Oil and gas, Chemicals, and Others) , and type (Oil-based and Oil-free).
      Ariel Corp., Atlas Copco AB, Colfax Corp., Hitachi Ltd., Hydro-Pac Inc., IDEX Corp., J.P. Sauer and Sohn Maschinenbau GmbH, Mitsui E&S Holdings Co. Ltd., Siemens AG, Trane Technologies Plc are a few of the key vendors in the hydrogen compressor market.
      APAC will register the highest growth rate of 43.56% among the other regions. Therefore, the hydrogen compressor market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • China
      • US
      • Germany
      • India
      • France
      • Brazil
      The key factors driving the hydrogen compressor market growth are:
      • Growing focus on using hydrogen in refineries
      The hydrogen compressor market vendors should focus on grabbing business opportunities from the multistage segment as it accounted for the largest market share in the base year.
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