The global High Pressure Hydrogen Compressors Market is projected to cross USD 590.46 Million by 2028, registering a CAGR 6.12% from 2021 to 2028.
A high-pressure hydrogen compressor is a piece of equipment that compresses hydrogen into compressed gas, compressed hydrogen, or liquid hydrogen by increasing the pressure. Both hydrogen compressors and hydrogen pumps are used to increase the pressure of a fluid or a gas and to move the fluid or gas through a pipe, so they are somewhat similar. As gases are compressed, the amount of hydrogen gas produced decreases, but the main reason for a pump to increase the pressure of a liquid is to allow the liquid hydrogen to be transported elsewhere.
The demand is stable in companies that use hydrogen inherently because it is a necessary commodity for them. In addition, the use of hydrogen as a fuel in many applications, such as fuel cells, is expected to expand the market. The world is moving toward cleaner fuels, and the introduction of hydrogen fuel cell technology is expected to boost the demand for high-pressure hydrogen compressors, which are an important component of vehicles. In addition, there is a lot of space for development in terms of making the product more energy efficient. Better research into this compressor's improvement is expected to propel the high-pressure hydrogen compressors market to higher returns.
The High-Pressure Hydrogen Compressors Market is segmented by Type (Single Stage, Multistage), by Application (Chemical, Oil & Gas). The market is further analyzed on the basis of regional analysis and divided into major regions like North-America, Latin America, Asia-Pacific, Europe and MEA.
Further Key Findings From The Report Suggest
- Multi-stage compressors are primarily used to fill hydrogen storage tanks and hydrogen production plants, as well as to transport hydrogen via pipeline. These compressors can be designed to suit the flow of hydrogen gas formed by a reformer or electrolyzer.
- After COVID-19 infection cases start to decline, equipment and machinery manufacturers must concentrate on protecting their employees, operations, and supply chains in order to respond to acute emergencies and find new ways of operating.
- Governments have recognized the changing environment and are imposing strict emission standards, especially in the industrial sector. As a result, manufacturers are forced to use renewable energy sources.
Key Participants like ARIEL, Atlas Copco, Burckhardt, Dresser-Rand, Kobelco, Sundyne, Gardner Denver, Corken, Howden Group, Hitachi, Hydro-Pac, HAUG Sauer, Kaishan, Blower works.
For this report, Introspective Market Research have segmented the High-Pressure Hydrogen Compressors markets market on the basis of Region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM