Europe Hydrogen Compressor Market Report (2017-2035) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Europe hydrogen compressor market size is expected to reach US$ 1,002.46 million by 2035 from US$ 518.43 million in 2023. The market is estimated to record a CAGR of 5.9% from 2024-2035.

Executive Summary and Europe Hydrogen Compressor Market Analysis:

Europe is growing moderately with government support and initiatives for clean hydrogen production. From 2021 to 2027, the EU government's budget announced an investment of ~US$ 578 billion for climate spending. The European Commission also launched a budget of US$ 847.2 billion to produce renewable hydrogen from the climate change innovation fund. Hydrogen compressors are widely used in renewable energy with government support and initiatives. Rising investments across the oil and gas industry further drive the Europe hydrogen compressor market growth. The region's oil and gas sector have several giant projects across the region, creating massive demand for hydrogen compressors. A few of the projects include Johan Sverdrup and Johan Castberg oil field Development in Norway, Lochnagar and Rosebank oil and gas exploration in the UK, and Aphrodite Gas Field in Cyprus.

Also, several projects of hydrogen electrolyze were launched in Europe with capacities of 441 MW in several countries, such as Italy, Germany, Cyprus, and Greece. Hydrogen compressors are used in hydrogen electrolysis projects to store the generated energy efficiently. Thus, this compressor is an optimal choice for energy and power projects. Apart from energy and power, utilities, food and beverages, and chemical industries are also growing efficiently in Europe. Also, there is a rise in renewable energy projects in order to reduce energy costs. For instance, in 2022, Amazon Inc. planned an investment of ~US$ 2.5 billion for adding 39 new renewable energy projects across European countries. The company planned to add over 1 GW of clean energy capacity to Europe's grid. Amazon also planned more than 160 solar and wind energy projects across 13 countries, including Germany, France, Italy, Poland, and other countries in Europe. These projects are expected to offer 5.8 GW of clean energy capacity, powering 4.7 million European residents annually. The EU Commission planned to invest more than US$ 550 billion for hydrogen production. Hydrogen compressor is used as a major component in hydrogen gas production. It is used as a renewable, clean, zero-emission energy.

Europe Hydrogen Compressor Market Strategic Insights

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Europe Hydrogen Compressor Market Segmentation Analysis

Key segments that contributed to the derivation of the hydrogen compressor market analysis are type, technology, and end-user.

• By type, the hydrogen compressor market is bifurcated into lubricated and oil-free. The lubricated held a larger share of the market in 2023.
• By technology, the hydrogen compressor market is segmented into reciprocating hydrogen compressor, diaphragm hydrogen compressor, non-mechanical hydrogen compressor, and others. The reciprocating hydrogen compressor held the largest share of the market in 2023.
• By end user, the hydrogen compressor market is segmented into power plants, oil and gas, food and beverages, petrochemical and chemical, hydrogen fueling stations, hydrogen storage (Tube Trailers), and others. The petrochemical and chemical held the largest share of the market in 2023.

Europe Hydrogen Compressor Market Outlook

The need for oil and gas has grown significantly in developing and developed nations, leading to increased production activities such as investments and research and development activities.

Europe's oil and gas sector is seeing a significant increase in investments. Norway is set to invest a record US$ 23.58 billion in oil and gas in 2024, a substantial rise in its energy spending. This investment is part of a broader strategy to maintain production from the North Sea and ensure energy security for the region. Furthermore, European companies are actively pursuing new exploration projects, with Total Energies leading initiatives in the North Sea. These investments underscore Europe's strategic focus on energy sustainability while also transitioning to greener energy sources as companies strive to balance environmental goals with energy demands. Thus, increasing investments in oil and gas industry is expected to boost the demand for hydrogen compressors during the coming years.

Europe Hydrogen Compressor Market Country Insights

Based on country, the Europe Hydrogen Compressor Market comprises Germany, France, Italy, Spain, the UK, Switzerland, Russia, Sweden, Norway, Belgium, Netherlands, Greece, and the Rest of Europe. Germany held the largest share in 2023.

The high rate of technology adoption and the presence of various multinational companies serve as significant expansion opportunities for the manufacturing sector in Germany. It is the largest energy consumer among all European countries. The country's consumption levels are driven by its extensive industrial and economic activities and its sizeable population. In addition, a rise in investment toward energy transition from conventional fuels to renewable fuels such as hydrogen is expected to drive the hydrogen compressor market in Germany in the coming years.

Germany experiences the need to invest in green hydrogen production on a large scale over the medium to long term. The German government has already taken steps to promote the hydrogen economy, including the adoption of a National Hydrogen Strategy. For instance, in March 2022, it announced the contribution of US$ 572 million as a part of its goals to become a new green hydrogen economy, which has turned out to be a significant step in promoting the adoption and development of clean energy solutions worldwide. By investing in efforts to build the global green hydrogen economy, Germany has plans to come up with clean energy technologies, supporting developing countries in their efforts to adopt cleaner energy solutions. These efforts are expected to fuel the demand for hydrogen compressors in Germany in the coming years. In Europe, Germany has the largest share in 2022, owing to the rapid development of the energy and power sector. In June 2020, Germany's Federal Government invested ~US$ 7.4 billion in the National Hydrogen Strategy. The government plans to invest US$ 9.6 billion to promote the adoption of clean hydrogen energy technologies. Further, in the first quarter of 2022, E.ON SE, a German energy group, planned to invest US$ 28.5 billion until 2026 to support the country's energy transition in the renewable energy sector. With the company's strategy to build green energy, the company planned to invest an average of US$ 5.29 billion per year for the onshore, offshore wind, solar, and hydrogen generation capabilities. E.ON planned to integrate 35 GW with 40 GW of additional renewable energy capacity in Germany. Such rising investment toward clean energy has created a massive demand for hydrogen compressors in the country.

Europe Hydrogen Compressor Market Report Highlights

Europe Hydrogen Compressor Market Company Profiles

Some of the key players operating in the market include 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; PDC Machines Inc.; Sundyne; and Ariel Corporation, among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Europe Hydrogen Compressor Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

The Insight Partners’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise.

Europe Hydrogen Compressor Market Country and Regional Insights