South & Central America Hydrogen Compressor Market Forecast to 2030 - Regional Analysis - by Type, Stage, and End user

The South & Central America hydrogen compressor market was valued at US$ 107.89 million in 2022 and is expected to reach US$ 147.30 million by 2030; it is estimated to register a CAGR of 4.0% from 2022 to 2030.

Increasing Industrial Production Activities Fuel South & Central America Hydrogen Compressor Market

Hydrogen compressors are widely used for several applications in various industries. It is used to supply the dry, clean, and oil-free air that is required in food & beverages, pharmaceuticals, consumer electronics, and textiles industries. Further, the food & beverages sector witnessed rapid growth due to government support and initiatives. Per the Food and Agriculture Organization Report in 2022, the government's support and funding toward the food & agriculture industry reached ~US$ 630 billion annually across the globe.

Also, hydrogen compressors majorly contribute to making low-carbon societies as it is used in making green hydrogen, compressing the LNG, and in the battery manufacturing plants of electric vehicles. Compressed air is also used in industrial automation in various sectors, as well as hospitals and high-speed trains. Hydrogen is used for high-temperature heating in industrial plants for the feedstock in chemical processing. According to the Chemical Industries Association Survey, the world's 50 largest chemical industry sales reached US$ 1.2 trillion in 2022, which increased by 17% compared to 2021. Such rising investment in the industrial sectors across the globe boosts production activities, which drives the South & Central America hydrogen compressor market growth.

South & Central America Hydrogen Compressor Market Overview

South & Central America comprises several developing nations such as Brazil, Argentina, Chile, Peru, and Colombia. The hydrogen compressor market in South & Central America is growing rapidly due to rising government support and increasing adoption of advanced technologies. The countries in South & Central America attract huge FDIs owing to the availability of cheap labor and low entry barriers and interest rates. Argentina is concentrating on attracting FDIs by easing import restrictions, signing international bilateral agreements, and lifting foreign investment restrictions.

Initiatives to attract FDIs facilitate the development of different sectors across the region, promoting the South & Central America hydrogen compressor market growth in the country. According to the International Energy Agency (IEA), upstream activities expenditure in South & Central America is set to rise owing to the high investments by Brazil, Argentina, and Colombia. In October 2023, Petrobras, a Brazil-based state-held oil firm, announced its plans to invest US$ 75.7 billion over the next five years to boost oil production, which bolsters the South & Central America hydrogen compressor market growth. Hydrogen compressor is widely used in oil and gas refineries to compress and store natural gas at the required pressure.

According to the OPEC Organization Report, natural gas production across South & Central America reached 162 billion cubic meters as of December 2022, increasing from 157.5 billion cubic meters compared to 2021. Rising oil and gas production activities and increasing investments in natural gas and oil production in South American countries are expected to create lucrative opportunities for the South & Central America hydrogen compressor market in South & Central America during the forecast period.

South & Central America Hydrogen Compressor Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Hydrogen Compressor Market Segmentation

The South & Central America hydrogen compressor market is categorized into type, stage, end user, and country.

Based on type, the South & Central America hydrogen compressor market is bifurcated into oil-based and oil-free. The oil-based segment held a larger market share in 2022.

In terms of stage, the South & Central America hydrogen compressor market is bifurcated into single-stage and multi-stage. The multi-stage segment held a larger market share in 2022.

By end-user, the South & Central America hydrogen compressor market is segmented into chemicals, oil and gas, automotive and transportation, renewable energy, refueling station, and others. The oil and gas segment held the largest market share in 2022.

By country, the South & Central America hydrogen compressor market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America hydrogen compressor market share in 2022.

Atlas Copco AB; Burckhardt Compression AG; Gardner Denver Nash, LLC; HAUG Sauer Kompressoren AG; Howden Group; and NEUMAN & ESSER GROUP are among the leading companies operating in the South & Central America hydrogen compressor market.

Reasons to Buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America hydrogen compressor market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the South & Central America hydrogen compressor market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the South & Central America hydrogen compressor market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.