Hydrogen Compressors Market Set $3.27 Billion By 2032, CAGR: 4.7%

Hydrogen Compressors Market Size Worth $3.27 Billion By 2032 | CAGR: 4.7%


The global hydrogen compressors market size is expected to reach USD 3.27 billion by 2032, according to a new study by Polaris Market Research. The report “Hydrogen Compressors Market Share, Size, Trends, Industry Analysis Report, By Stage (Single-Stage and Multi-Stage); By Type (Oil-Based and Oil-Free); By End-User; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

In the coming years, the hydrogen compressor market is expected to grow due to rising demand from industries like fertilizers and oil refineries, as well as the expanding deployment of hydrogen pipeline infrastructure worldwide for transportation purposes. A hydrogen compressor is frequently utilized in the production of automobiles. The hydrogen compressor market is expanding due to growing Industry 4.0 adoption as well as rapid improvements in equipment tools and consumer electronics manufacture. The creation of energy depends on hydrogen, which helps achieve the goal of decarbonizing carbon-intensive industries like power generation, transportation, chemical processing, and the automobile industry. In the value chain for producing hydrogen gas, compressors are utilized and are necessary for the effective transportation of hydrogen.

Conversely, the market may face challenges due to a slowdown in industrial and economic activities. Factors contributing to this slowdown include a significant decrease in manufacturing activity and global trade. The imposition of higher tariffs and prolonged uncertainty surrounding trade policies are further exacerbating the situation. These conditions are expected to reduce the demand for capital goods from industries that utilize hydrogen, thus restraining the overall growth of the market.

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In the coming years, the hydrogen compressor market is expected to grow due to rising demand from industries like fertilizers and oil refineries, as well as the expanding deployment of hydrogen pipeline infrastructure worldwide for transportation purposes. A hydrogen compressor is frequently utilized in the production of automobiles. The hydrogen compressor market is expanding due to growing Industry 4.0 adoption as well as rapid improvements in equipment tools and consumer electronics manufacture. The creation of energy depends on hydrogen, which helps achieve the goal of decarbonizing carbon-intensive industries like power generation, chemical processing, transportation, and the automobile industry. In the value chain for producing hydrogen gas, compressors are utilized and are necessary for the effective transportation of hydrogen.

Conversely, the market may face challenges due to a slowdown in industrial and economic activities. Factors contributing to this slowdown include a significant decrease in manufacturing activity and global trade. The imposition of higher tariffs and prolonged uncertainty surrounding trade policies are further exacerbating the situation. These conditions are expected to reduce the demand for capital goods from industries that utilize hydrogen, thus restraining the overall growth of the market.

Hydrogen Compressors Market Report Highlights

  • The multi-stage segment dominated the market in 2023, driven by its application in the pipe-based hydrogen transfer and lowering the labor cost while elevating efficiency.
  • The oil-based segment led the market in 2023 and is expected to maintain its dominance due to its low cost and long service life.
  • Asia Pacific holds a significant revenue share in the global Hydrogen Compressors market, driven by undergoing rapid urbanization and industrialization, leading to substantial demand for power & energy.
  • The global key market players include Siemens, Mitsubishi Power, Neuman & Esser Group, Atlas Copco AB, Howden Group, Ingersoll Rand, Pure Energy Center, Hoerbiger, Cook Compression, Hycomp Inc., and Sundyne.

Polaris Market Research has segmented the Hydrogen Compressors market report based on stage, type, end-user and region:

Hydrogen Compressors, Stage Outlook (Revenue - USD Billion, 2019 - 2032)

  • Single-Stage
  • Multi-Stage

Hydrogen Compressors, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Oil-Based
  • Oil-Free
  • Others

Hydrogen Compressors, End-User Outlook (Revenue - USD Billion, 2019 - 2032)

  • Oil & Gas
  • Chemical
  • Transportation & Automotive
  • Petrochemicals

Hydrogen Compressors, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of Asia Pacific
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Hydrogen Compressors Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 2.26 billion

Revenue forecast in 2032

USD 3.27 billion

CAGR

4.7% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Stage, By Type, By End-User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

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