Hydrogen Compressor Global Market Report 2024

Hydrogen compressors are devices designed to increase the pressure of hydrogen by reducing its gas volume. This compression process involves moving hydrogen through a compressor that decreases the gas volume between the inlet and the discharge. The outcome is compressed hydrogen or liquid hydrogen.

In the hydrogen compressor market, the main products can be categorized as oil-free and oil-based. The oil-free segment involves the sale of hydrogen compressors by entities - such as organizations, sole proprietors, and partnerships - that are designed to compress hydrogen without the use of oil vapors in the technology process. Hydrogen compressors are available in power ranges of 0–100 HP and 101–200 HP, operating in either single-stage or multiple stages. These devices find applications across various industries, serving end-users ranging from oil and gas to chemicals, utilities, refueling stations, and others.

The hydrogen compressor market research report is one of a series of new reports that provides hydrogen compressor market statistics, including hydrogen compressor industry global market size, regional shares, competitors with a hydrogen compressor market share, detailed hydrogen compressor market segments, market trends and opportunities, and any further data you may need to thrive in the hydrogen compressor industry. This hydrogen compressor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hydrogen compressor market size has grown strongly in recent years. It will grow from $1.92 billion in 2023 to $2.05 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth observed in the historical period can be attributed to factors such as the increased emphasis on green hydrogen production and storage, the expansion of hydrogen fueling infrastructure for transportation, a heightened utilization of hydrogen in industrial applications, government initiatives and policies promoting the hydrogen economy, and a rise in investments in renewable energy and hydrogen production.

The hydrogen compressor market size is expected to see strong growth in the next few years. It will grow to $2.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be attributed to factors such as the integration of hydrogen in energy storage and grid balancing applications, the demand for high-pressure hydrogen in industrial processes and power generation, ongoing research and development in next-generation hydrogen compression technology, a focus on decentralized hydrogen production and distribution, and the expansion of hydrogen-powered mobility and fuel cell applications. Key trends expected in the forecast period include the adoption of high-efficiency diaphragm and piston compressors, the development of oil-free and contamination-free compression systems, the utilization of modular and skid-mounted compression units, the adoption of lightweight and high-strength materials, and the exploration of cryogenic compression for liquid hydrogen.

The hydrogen compressor market is poised for growth due to an increase in demand for hydrogen from various end-use industries. Sectors like household energy distribution, oil & gas, and power generation are making significant investments in new hydrogen distribution and generation plants to fulfill consumer demand and align with government initiatives addressing environmental pollution. An example is the HyDeploy project in the UK, a groundbreaking hydrogen trial at Keele University led by Cadent in partnership with Northern Gas Networks (NGN), injecting zero-carbon hydrogen into the gas grid to serve approximately 100 houses and 30 faculty buildings. This surge in hydrogen demand from end-use industries is expected to drive the hydrogen compressor market during the forecast period.

The growth of the hydrogen compressors market is further fueled by the increasing adoption of fuel-cell cars. These electric vehicles, powered by fuel cells using hydrogen, offer a cleaner and more efficient alternative to traditional internal combustion engines, with no harmful exhaust emissions. The rising use of fuel-cell cars is evident in the US, where, by the end of 2021, 12,272 hydrogen fuel cell cars were sold, marking a 37% increase from the previous year. This increased adoption of fuel-cell vehicles contributes significantly to the demand for hydrogen compressors.

A key trend in the hydrogen compressor market involves technological advancements aimed at gaining a competitive edge. Key players in the market are focusing on developing hydrogen compressors with innovative technologies to meet the technical requirements of end customers, including hydrogen fuel stations and power generation industries. For instance, in November 2021, Burckhardt Compression AG introduced an oil-free hydrogen compression solution designed for hydrogen trailer filling and fuel stations, addressing the growing demand for advanced compression technology.

Major companies in the hydrogen compressor market are emphasizing the introduction of skid-mounted hydrogen compressors to maximize their market revenues. Skid-mounted compressors are designed for easy transportation and installation, offering a practical solution for various industries such as automotive, food processing, chemical production, and fuel cell systems. In August 2023, CIMC Enric launched a skid-mounted hydrogen compressor, enhancing the overall solution capability of hydrogen energy while ensuring cost-effectiveness and low maintenance requirements for industrial applications.

In November 2021, Fluitron Inc. acquired Bethlehem Hydrogen to strengthen its position in the hydrogen infrastructure solutions market. The acquisition is part of Fluitron Inc.'s efforts to build a global entity focused on developing and commercializing hydrogen infrastructure solutions, reflecting the industry's strategic moves towards advancing hydrogen-related technologies.

Major companies operating in the hydrogen compressor market include Atlas Copco AB, Burckhardt Compression AG, Fluitron Inc., Gardner Denver Nash LLC, Howden Group Ltd., HAUG Sauer Kompressoren AG, Neuman & Esser Group, Hydro-Pac Inc., Lenhardt & Wagner GmbH, Ariel Corporation, PDC Machines Inc., Mitsui E&S Holdings Co. Ltd., Siemens AG, Sundyne LLC, IDEX Corporation, Hitachi Ltd., Ingersoll Rand Inc., Nel ASA, Corken Inc., Indian Compressors Ltd., Coltri S.p.A., Fornovo Gas S.r.l., Adicomp S.r.l., Baker Hughes Company, Colfax Corporation, Elliott Group, Gardner Denver Holdings Inc., Kobe Steel Ltd., Sulzer Ltd.

Asia-Pacific was the largest region in the hydrogen compressor market in 2023. The regions covered in the hydrogen compressor market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the hydrogen compressor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The hydrogen compressor market consists of sales of piping system, storage vessels, vacuum pumps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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