North America Hydrogen Compressor Market Forecast to 2028 - COVID-19 Impact and Analysis - by Type (Oil-Based and Oil-Free), Stage (Single-Stage and Multi-Stage), End User (Chemicals, Oil & Gas, Automotive & Transportation, Renewable Energy, and Others), Discharge Pressure Range (Less than 13000 PSIG, 13001 PSIG to 14000 PSIG, and More than 14000 PSIG), Power Range (Less than 1 MW, 1 MW to 5 MW, 5 MW to 10 MW and More than 10 MW), Application (H2 Liquid, H2 Pipeline, H2 for Industry/Ammonia, H2 Storage, H2 Trailer/Cylinder Filling, H2 Large Fuel Station, and H2 Small Fuel Station), and Compressor Type (Reciprocating and Diaphragm Compressors and Piston Ring Compressors)
The hydrogen compressor market was valued at US$ 448.7 million in 2021 and is projected to reach US$ 643.6 million by 2028; it is expected to grow at a CAGR of 5.3% from 2021 to 2028.
Due to expanding regional demand for distillate fuel oil and severe sulfur content standards, the demand for hydrogen is increasing across the refining industry. The need for hydrogen compressors has increased as their use has grown in refining processes. Oil-based compressors are more efficient than oil-free compressors because oil acts as a cooling medium, removing around 80% of the heat created by the compressor during compression. Therefore, there has been a major increase in the need for oil-based compressors in recent years. As a result, this factor is likely to have a significant impact on the hydrogen compressor market growth during the forecast period. Increasing need for hydrogen from the refining industry and the growing emphasis on using clean hydrogen propel the demand for hydrogen compressors.
In January 2021, the US Department of Energy's (DOE) Office of Fossil Energy (FE) announced plans to allocate US$ 160 million in federal funds to help recalibrate the country's extensive fossil fuel and power infrastructure for decarbonized energy and commodity production. The funding for cost-shared cooperative agreements was targeted at developing technology for the generation, transportation, storage, and use of fossil-based hydrogen, to achieve net-zero carbon emissions. The funds will be used to support various research initiatives focusing on hydrogen compressor innovation.
Based on type, the North America hydrogen compressor market is bifurcated into oil-based and oil-free. Based on stage, the North America hydrogen compressor market is bifurcated into single-stage and multi-stage. Based on end user, the North America hydrogen compressor market is segmented into chemicals, oil and gas, automotive and transportation, renewable energy, and others. Based on discharge pressure range, the North America hydrogen compressor market is segmented into less than 13000 psig, 13001 psig–14000 psig, and more than 14000 psig. Based on power range, the North America hydrogen compressor market is segmented into less than 1 MW, 1 MW to 5 MW, 5 MW to 10 MW, and more than 10 MW. Based on application, the North America hydrogen compressor market is segmented into H2 liquid, H2 pipeline, H2 for industry/ammonia, H2 storage, H2 trailer/cylinder filling, H2 large fuel station, and H2 small fuel station. Based on compressor type, the North America hydrogen compressor market is segmented into reciprocating and diaphragm compressors and piston ring compressors.
Impact of COVID-19 Pandemic on hydrogen compressor market
The COVID-19 pandemic is wreaking havoc on energy networks across North America, stifling investment and slowing the spread of crucial clean energy technology. Prior to the crisis, clean energy technology progress had been promising but uneven. According to the International Energy Agency annual Tracking Clean Energy Progress report, only 6 out of 46 technologies and sectors were "on pace" to reach long-term sustainability goals in 2019. In addition, prior to the COVID-19 pandemic, low-carbon versions of hydrogen had acquired extraordinary traction. The deployment of hydrogen-producing electrolyzers was predicted to set new milestones in the following years.
Moreover, numerous projects using Carbon capture, utilisation and storage to manufacture hydrogen from fossil fuels are in the works or have declared plans to begin operations in the early 2020s. The global economic slump, supply chain interruptions, and lower capital spending by firms, which may also prioritize other business sectors, may jeopardize these projects and potential advancements. These obstacles could hinder the demonstration of critical end-use technologies required for hydrogen's inclusion into the economy.
Lucrative Regions for hydrogen compressor market
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Market Insights– hydrogen compressor market
Growing Oil & Gas Industry in North America
Major countries in North America, such as the US, Canada, and Mexico, have a huge oil & gas industry. The growing investments in the oil & gas industry boost the development of hydrogen compressors. As of January 2019, the US had 130 operational petroleum refineries, while Canada had 14 refineries and two asphalt refineries. In addition, enterprises in the region are striving to increase the production of green energy fuels. For instance, Pemex, Mexico's national oil business operating six petroleum refineries, revealed its plans to build a massive oil refinery in May 2019. Furthermore, the company aided natural gas production in the US by increasing its export business of LNG capacity and expanding its power to influence new markets. As a result, the growing oil & gas industry necessitates efficient energy storage anytime it is needed.
Furthermore, North America, notably the US, has historically been the most significant market for oil & gas. Also, drilling activity is expected to increase in the coming years across the region. The increasing government investments in oil & gas projects in the region propel the demand for hydrogen compressors integrated with energy storage systems. Several active oil & gas projects in North America also boost the growth of the hydrogen compressors market in the region.
Type-Based hydrogen compressor market Insights
Based on type, the North America hydrogen compressor market is bifurcated into oil-based and oil-free. Oil-based hydrogen compressors are likely to dominate the market over the forecast period, owing to their cheaper cost, longer life, and higher efficiency, making them ideal for use in various sectors.
Stage-Based hydrogen compressor market Insights
Based on stage, the North America hydrogen compressor market is bifurcated into single-stage and multi-stage. The number of times air is compressed between the inlet valve and the tool nozzle is the fundamental difference between single-stage and multi-stage compressors. A single-stage compressor compresses the air once; a multi-stage compressor compresses the air many times for double the pressure.
End User-Based hydrogen compressor market Insights
Based on end user, the North America hydrogen compressor market is segmented into chemicals, oil and gas, automotive and transportation, renewable energy, and others. The oil and gas industry uses technologically advanced devices and solutions to optimize product quality and quantity. Hydrogen is also used in the chemical sector to produce methanol and ammonia. Methanol and ammonia account for more than half of all hydrogen consumed worldwide. Chemicals are produced in large quantities throughout North America. Furthermore, large investments in developing new hydrogen plants are projected in North America, which is expected to drive the market throughout the projection period.
Discharge Pressure Range-Based hydrogen compressor market Insights
Based on discharge pressure range, the North America hydrogen compressor market is less than 13000 psig, 13001 psig–14000 psig, and more than 14000 psig. The lightest gas in the universe is hydrogen. Under normal atmospheric pressure, one liter of this gas weighs only 90 mg, making it 11 times lighter than air.
Power Range-Based hydrogen compressor market Insights
Based on power range, the North America hydrogen compressor market is segmented into less than 1 MW, 1 MW to 5 MW, 5 MW to 10 MW, and more than 10 MW. The less than 1 MW segment is dominating the market due to wide-range adoption in end-user industries and small-scale projects.
Application-Based hydrogen compressor market Insights
Based on application, the North America hydrogen compressor market is segmented into H2 liquid, H2 pipeline, H2 for industry/ammonia, H2 storage, H2 trailer/cylinder filling, H2 large fuel station, and H2 small fuel station. Industrial trucks (for instance, forklifts) and passenger cars powered by hydrogen fuel cells are finding new markets. Indoor and outdoor hydrogen filling stations are being created to support these vehicles. A fuel cell is a device that produces electricity by combining hydrogen and oxygen from the air in an electrochemical reaction. It may power an electric motor and propel a vehicle.
Compressor Type-Based hydrogen compressor market Insights
Based on compressor type, the North America hydrogen compressor market is segmented into diaphragm compressors and piston compressors. Hydrogen is climbing to the top of the energy industry's quest for clean, long-term solutions.
Players operating in the market are mainly focused on developing advanced and efficient products.
- In January 2021, Burckhardt Compression AG entered into a partnership with Shell New Energies. The partnership is formed for the development of heavy-duty hydrogen refueling compressor systems. In accordance with this, Burckhardt Compression AG planned to develop a new facility at Winterthur, Switzerland, dedicated to heavy-duty hydrogen refueling compressor systems.
- In April 2021, PDC Machines and its partner Ivys Energy Solutions announced a collaboration with ENGV. The collaboration was established to deliver fuel fast at the CSIRO's Victorian hydrogen hub in Melbourne. ENGV will provide integration, installation, and operational services for the station in Melbourne.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Hydrogen Compressor Market – By Type
1.3.2 North America Hydrogen Compressor Market – By Stage
1.3.3 North America Hydrogen Compressor Market – By End-User
1.3.4 North America Hydrogen Compressor Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Hydrogen Compressor Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America Hydrogen Compressor Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Rising Adoption of Hydrogen Fuel Cell Vehicles
5.1.2 Flourishing Oil and gas Sector
5.2 Key Market Restraints
5.2.1 Elevated Recurring Cost in Maintenance
5.3 Key Market Opportunities
5.3.1 Growing Investments in New Energy & Power Projects Worldwide
5.4 Future Trends
5.4.1 Advancements of Electrochemical Hydrogen Compressor (EHC)
5.5 Impact Analysis of Drivers and Restraints
6. Hydrogen Compressor Market – North America Market Analysis
6.1 North America Hydrogen Compressor Market Overview
6.2 North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
7. Hydrogen Compressor Market Analysis – By Type
7.1 Overview
7.2 North America Hydrogen Compressor Market Breakdown, By Type (2020 and 2028)
7.3 Oil-Based
7.3.1 Overview
7.3.2 Oil-Based: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Oil-Free
7.4.1 Overview
7.4.2 Oil-Free: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
8. North America Hydrogen Compressor Market Analysis– By Stage
8.1 Overview
8.2 North America Hydrogen Compressor Market Breakdown, By Stage (2020 and 2028)
8.3 Single-Stage
8.3.1 Overview
8.3.2 Single-Stage: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Multi-Stage
8.4.1 Overview
8.4.2 Multi-Stage: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
9. North America Hydrogen Compressor Market Analysis – By End-user
9.1 Overview
9.2 North America Hydrogen Compressor Market, By End-user (2020 and 2028)
9.3 Chemicals
9.3.1 Overview
9.3.2 Chemicals: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
9.4 Oil and Gas
9.4.1 Overview
9.4.2 Oil and Gas: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
9.5 Automotive and Transportation
9.5.1 Overview
9.5.2 Automotive and Transportation: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
9.6 Renewable Energy
9.6.1 Overview
9.6.2 Renewable Energy: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
9.7 Other End-users
9.7.1 Overview
9.7.2 Other End-users: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
10. North America Hydrogen Compressor Market – Country Analysis
10.1 Overview
10.1.1 North America: Hydrogen Compressor Market, by Key Country
10.1.1.1 US: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: Hydrogen Compressor Market, by Type
10.1.1.1.2 US: Hydrogen Compressor Market, by Stage
10.1.1.1.3 US: Hydrogen Compressor Market, by End-Users
10.1.1.2 Canada: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: Hydrogen Compressor Market, by Type
10.1.1.2.2 Canada: Hydrogen Compressor Market, by Stage
10.1.1.2.3 Canada: Hydrogen Compressor Market, by End-Users
10.1.1.3 Mexico: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: Hydrogen Compressor Market, by Type
10.1.1.3.2 Mexico: Hydrogen Compressor Market, by Stage
10.1.1.3.3 Mexico: Hydrogen Compressor Market, by End-Users
11. North America Hydrogen Compressor Market- COVID-19 Impact Analysis
11.1 Overview
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 Atlas Copco AB
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Burckhardt Compression AG
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Fluitron, Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Gardner Denver Nash, LLC
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Howden Group
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 NEUMAN & ESSER GROUP
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Hydro-Pac, Inc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Lenhardt & Wagner GmbH
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 PDC Machines Inc.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Hydrogen Compressor Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Hydrogen Compressor Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Hydrogen Compressor Market, by Stage –Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Hydrogen Compressor Market, by End-Users –Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Hydrogen Compressor Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Hydrogen Compressor Market, by Stage – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Hydrogen Compressor Market, by End-Users –Revenue and Forecast to 2028 (Canada$ Million)
Table 9. Mexico: Hydrogen Compressor Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Hydrogen Compressor Market, by Stage – Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico: Hydrogen Compressor Market, by End-Users –Revenue and Forecast to 2028 (Mexico$ Million)
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Hydrogen Compressor Market Segmentation
Figure 2. North America Hydrogen Compressor Market Segmentation – By Country
Figure 3. North America Hydrogen Compressor Market Overview
Figure 4. Oil-Based Segment held the Largest Share of North America Hydrogen Compressor Market
Figure 5. Multi-Stage Segment held the Largest Share of North America Hydrogen Compressor Market
Figure 6. Oil and Gas segment held the Largest Share of North America Hydrogen Compressor Market
Figure 7. US to Show Great Traction During Forecast Period in North America Hydrogen Compressor Market
Figure 8. North America – PEST Analysis
Figure 9. Hydrogen Compressor Market Ecosystem
Figure 10. Expert Opinions
Figure 11. North America Hydrogen Compressor Market Impact Analysis of Drivers and Restraints
Figure 12. North America Hydrogen Compressor Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America Hydrogen Compressor Market Breakdown, By Type (2020 and 2028)
Figure 14. North America Oil-Based: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. North America -Free: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 16. North America Hydrogen Compressor Market Breakdown, By Stage (2020 and 2028)
Figure 17. North America Single-Stage: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Multi-Stage: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 19. North America Hydrogen Compressor Market Breakdown, By End-user (2020 and 2028)
Figure 20. North America Chemicals : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America Oil and Gas : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America Automotive and Transportation : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America Renewable Energy : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 24. North America Other end-users : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America: Hydrogen Compressor Market, by Key Country- Revenue 2020 (US$ Million)
Figure 26. North America: Hydrogen Compressor Market Revenue Share, by Key Country (2020 & 2028)
Figure 27. US: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Canada: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Mexico: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Impact of COVID-19 Pandemic in North American Country Markets
The List of Companies - North America Hydrogen Compressor Market
- Atlas Copco
- Burckhardt Compression AG
- Fluitron, Inc.
- Gardner Denver
- HAUG Sauer Kompressoren AG
- Howden Group
- HYDRO-PAC, INC.
- Lenhardt & Wagner
- NEUMAN & ESSER GROUP
- PDC MACHINES INC.
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