The hydrogen compressor market was valued at US$ 1,894.15 million in 2020 and is projected to reach US$ 2,813.27 million by 2028; it is expected to grow at a CAGR of 5.2% from 2021 to 2028.
Hydrogen is one of the most efficient fuels with the highest energy content per weight. However, the hydrogen density in ambient conditions is ~90 g per cubic meter. Therefore, to attain functional levels of energy density, the efficient compression of hydrogen is necessary. The hydrogen compressors are effectively used to compress small to medium quantities of hydrogen to high and as per the requirement, they can also be used for extremely high pressures of more than 5,000 bar (75,000 PSI). Moreover, less than 250 bar (3,600 PSI) pressure is required to compress high quantities of oil-free hydrogen. In case, above 10 Megawatts of drive power is used to achieve any hydrogen compression requirement. Further, in case the oil traces are permitted in the gas, the discharge pressures in the range of more than 600 bar (9,000 PSI) are possible with lubricated compression, which is one of the significant factors expected to boost the market during the forecast period.
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The List of Companies: Atlas Copco AB, Burckhardt Compression AG, Fluitron, Gardner Denver Nash, Howden Group, HAUG Sauer Kompressoren AG, NEUMAN & ESSER GROUP, Hydro-Pac, Lenhardt & Wagner GmbH, PDC Machines Inc
Furthermore, due to soaring concerns of depletion of natural resources and environment degradation, several technologies are developed and announced in the market that favor the eco-friendly concept to sustain the environment. Likewise, surge in awareness related to the effects of air pollution and boosting levels of traffic & greenhouse gas emissions is driving the implementation of hydrogen fuel cell vehicles. Also, the mounting development of fuel cell electric vehicles (FCEVs) provides improved fuel economy than internal combustion engine (ICE) vehicles. The FCEV has a fuel economy of around 63 miles per gallon gasoline equivalent (MPGge), while that of an ICE vehicle is 29 MPGge on roads. Hybridization enhances the fuel economy of an FCEV by approximately 3.2%. This is further boosting the growth of the hydrogen compressor market globally.
The latest research report on the “Hydrogen Compressors Market – Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2028” provides a comprehensive assessment of the Hydrogen Compressors market for the forecast period from 2020 to 2028, including market values for the years 2018 and 2019. The investigative report provides a detailed analysis of the impact of COVID-19 on various segments in the Hydrogen Compressors market based on product type, application, and end-use across numerous countries around the world. Further, the report also provides insights into market developments, trends, supply and demand changes across various regions across the globe. Thereby, the report provides a holistic view on the Hydrogen Compressors Market in order to help decision makers with various strategic insights and future outlook. The Hydrogen Compressors market is expected to witness continued growth during the forecast period from 2020 to 2028.
This is a professional and in-depth study on the current state of the Hydrogen Compressors Market with a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Strategic Insights and Development plans are also discussed and manufacturing processes and cost structures analyzed. Hydrogen Compressors Market import/export consumption, supply and demand figures and cost price and production value gross margins are also provided.
The report focuses on global major leading Hydrogen Compressors Market players providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out.
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- Highlights key business priorities to assist companies realign their business strategies.
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