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Hydrogen Compressor Global Market Report 2022
Major players in the hydrogen compressor market are 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, Ariel Corporation, PDC Machines Inc, Mitsui E&S Holdings Co.
New York, June 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hydrogen Compressor Global Market Report 2022" - https://www.reportlinker.com/p06284271/?utm_source=GNW
Ltd, Siemens AG, Sundyne, and IDEX Corporation.
The global hydrogen compressor market is expected to grow from $1.68 billion in 2021 to $1.8 billion in 2022 at a compound annual growth rate (CAGR) of 6.9%. The market is expected to grow to $2.24 billion in 2026 at a compound annual growth rate (CAGR) of 5.6%.
The hydrogen compressor market consists of the sale of hydrogen compressor devices by entities (organizations, partnerships, sole proprietors), which increases the pressure of hydrogen by decreasing gas volume.The compression in hydrogen compressor is achieved by moving hydrogen through a compressor that decreases gas volume between the inlet and the discharge.
The reduced volume results in compressed hydrogen or liquid hydrogen.
The main products in the hydrogen compressors market are oil-free and oil-based.The oil-free market consists of the sale of oil-free hydrogen compressors by entities (organizations, sole proprietors, partnerships), which are intended to compress hydrogen and the technology process does not require any oil vapours.
The power ranges offered in hydrogen compressors include 0-100 HP and 101 HP to 200 HP and operate in either single-stage or multiple stages. These devices are used by end-users ranging from oil & gas, chemical, utility, refuelling stations, and others.
Asia Pacific was the largest region in the hydrogen compressor market in 2021. The regions covered in the hydrogen compressor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing demand for hydrogen from end-use industries is expected to propel the growth of the hydrogen compressor market.The end-use sectors such as household energy distribution companies, oil & gas, and power generation companies are increasingly investing in new hydrogen distribution and generation plants to meet consumer demand and government measures towards environmental pollution.
For instance, in 2020 in the UK, a groundbreaking hydrogen trial project (HyDeploy) is underway at Keele University for the 7million.And this pilot project is led by Cadent in partnership with Northern Gas Networks (NGN) in the UK as an injection of zero-carbon hydrogen into Keele University’s gas grid which is feeding approximately 100 houses and 30 faculty buildings.
Thus, the increase in demand for hydrogen from end-user industries is expected to boost the market for hydrogen compressors during the forecast period.
Technological advancements are a key trend in gaining an advantage in the hydrogen compressor market.The key players in the hydrogen compressor market are focusing on developing hydrogen compressors with innovative technologies to meet the technical demands of end customers such as hydrogen fuel stations, power generation industries and others.
For instance, in November 2021, Burckhardt Compression AG, a Switzerland-based manufacturer of reciprocator compression systems, launched an oil-free hydrogen compression solution, designed for hydrogen trailer filling and fuel stations with higher mass flows.
In November 2021, Fluitron Inc., a USA-based manufacturer of industrial gas compression units acquired Bethlehem Hydrogen, a Pennsylvania-based provider of customer hydrogen compression, dispensing and storage systems, for an undisclosed amount. The acquisition by Fluitron Inc. is focused on building a global entity focused on developing and commercializing hydrogen infrastructure solutions.
The countries covered in the hydrogen compressor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284271/?utm_source=GNW
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