The global hydrogen compressor market was valued at around 1.7 bn in 2020 and is expected to grow at a CAGR of around 5% during the forecast period (2021-2027).
A comprehensive overview of the global Hydrogen Compressor Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the hydrogen compressor market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global Hydrogen Compressor market at regional and country levels. The global hydrogen compressor market was valued at around 1.7 bn in 2020 and is expected to grow at a CAGR of around 5% during the forecast period (2021-2027).
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Market Overview
A hydrogen compressor reduces the volume of hydrogen gas to increase the pressure, resulting in compressed hydrogen or liquid hydrogen. Positive displacement or centrifugal compressors are the most common kind of compressors used to compress gaseous hydrogen. The oil-based hydrogen compressor exhibits various advantages in several end-user industries.
Factors such as the increase in demand for hydrogen from end-user industries, such as fertilizers and oil refineries, and the increasing deployment of hydrogen infrastructure globally for transportation are likely to drive the hydrogen compressor market during the forecast period. However, the slowdown in industrial and economic activities due to a sharp decline in manufacturing activity and global trade, with higher tariffs and prolonged trade policy uncertainty, is expected to negatively impact the market size of hydrogen compressors.
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Global Hydrogen Compressor market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Type, the market is primarily bifurcated into:
· Oil-Based
· Oil-Free
Based on type, the hydrogen compressor market is bifurcated into oil-based and oil-free. The oil-based segment catered to significant demand in the hydrogen compressor market. It is mainly owing to their lower cost, longer life, and efficiency, thus, considered ideal for operations in various industries.
By Technology, the market is primarily bifurcated into:
· Single-Stage
· Multi-Stage
Based on technology, the hydrogen compressor market is classified into single-stage and multi-stage. The multi-stage segment holds a considerable market share in the hydrogen compressor market. A multi-stage compressor ensures low leakage loss, provides uniform torque and is suitable for heavy tasks.
Global Hydrogen Compressor Market Geographical Segmentation Includes:
· North America (United States, Canada, Rest of North America)
· Europe (Germany, UK, Spain, Italy, France, Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
· Rest of the World
Based on the estimation, Asia Pacific caters to a significant share in the hydrogen compressor market. It is mainly predominant due to the favorable government policies in countries such as China, India, and Japan. In addition, growing investment in ethylene and benzene to increase its production capacity would escalate the demand for hydrogen.
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The major players targeting the market include:
· Atlas Copco AB
· Burckhardt Compression AG
· Fluitron, Inc.
· Gardner Denver Nash, LLC
· Howden Group
· HAUG Sauer Kompressoren AG
· NEUMAN & ESSER GROUP
· Hydro-Pac, Inc.
· Lenhardt & Wagner GmbH
· PDC Machines Inc
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global Hydrogen Compressor market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the global hydrogen compressor market?
· Which factors are influencing the global hydrogen compressor market over the forecast period?
· What are the global challenges, threats, and risks in the global hydrogen compressor market?
· Which factors are propelling and restraining the global hydrogen compressor market?
· What are the demanding global regions of the global hydrogen compressor market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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