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Middle East & Africa Hydrogen Compressor Market Forecast to 2030
Middle East & Africa Hydrogen Compressor Market Forecast to 2030 – Regional Analysis – by Type (Oil-based and Oil-free), Stage (Single-stage and Multi-stage), and End user (Chemicals, Oil and Gas, Automotive and Transportation, Renewable Energy, Refueling Stations, and Others)
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Description
Development of Electrochemical Hydrogen Compressor (EHC) Bolsters Middle East & Africa Hydrogen Compressor Market
The electromechanical hydrogen compressors are presently in the research and development stage and electrochemical reactions, ionic liquids, and metal hydrides. The electrochemical compressors have the application of proton exchange membranes lined by electrodes and a peripheral power source to lead the recombination at higher pressures at the cathode and dissociation of hydrogen at the anode. The development of an electrochemical hydrogen compressor (EHC) is necessary to tackle the critical requirements of higher efficiency, lower cost, and improved durability. For instance, HyET Group offers electrochemical hydrogen compression technology, which is exclusively designed to operate the compression and purification step utilizing one piece of equipment. This results in a compact, energy-efficient, and cost-effective electromechanical hydrogen compressor. This technology minimizes downtime, as electrochemical compression stacks are static equipment, and hence, they do not have the wear and tear issue.
Furthermore, the modular design of EHC systems facilitates concurrent operation in case one of the compressor stacks requires maintenance or inspection after some period. Also, in September 2023, Atlas Copco launched an H2P hydrogen compressor that is capable of electrochemical electrolysis production. The company introduced speed-controlled technologies to compensate for fluctuations in hydrogen production and ensure optimal efficiency by reducing energy losses. These unique technologies launched by the key players are contributing to future growth in the Middle East & Africa hydrogen compressor market.
Middle East & Africa Hydrogen Compressor Market Overview
The Middle East & Africa hydrogen compressor market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of MEA. With the abundant presence of oil and gas refineries in Saudi Arabia and other Middle Eastern countries, the demand for hydrogen compressors is anticipated to propel in the region. Libya, the UAE, Saudi Arabia, Iran, and Qatar are a few countries that have witnessed significant growth in the oil business. Moreover, several oil projects are likely to aid in the adoption of hydrogen compressors. As of May 2023, in Middle East & African countries, companies invested more than US$ 3.2 billion in the oil & gas industry. More than 29 merger and acquisition deals were carried out in 2023. Rising investment in the development of the oil & gas industry is expected to create ample opportunity for the hydrogen compressor market growth. Further, the Upper Zakum–Production Capacity Enhancement in the UAE, Yanbu–Crude Oil-To-Chemicals complex in Saudi Arabia, and Zubair Oil Field–Rehabilitation Phase and Enhanced Re-Development Phase in Iraq are among the oil projects in the region. Besides, Iran, Saudi Arabia, the UAE, South Africa, and Algeria are among the major countries that were adversely affected by the COVID-19 outbreak, which led to the temporary discontinuation of oil production and the supply of necessary equipment. Also, rising energy sector investment in the Middle East & African countries is expected to create significant opportunities for the hydrogen compressors market growth in the coming years. As of June 2022, Middle East and North African countries invested US$ 879 billion for the next five years and are expected to increase by 9%. Also, the energy sector spending with increased oil exploration spending across the region is expected to create ample opportunity for the hydrogen compressor market growth. An increase in per capita income, recovering economic conditions, and government spending toward smart grid infrastructure development of the region are among the factors anticipated to drive the adoption of hydrogen compressors in the region. Governments of various countries in the region are focusing on modernizing the grid networks to team up with international standards, develop utility revenue collection, and address energy challenges. The grid modernization supports the economies’ diversification and reduces the dependency on oil, gas, and coal energy generation. Several governments in the MEA have recently executed subsidy reform policies as well as recognized mechanisms for providing funding toward energy modernization.
Middle East & Africa Hydrogen Compressor Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Hydrogen Compressor Market Segmentation
The Middle East & Africa hydrogen compressor market is categorized into type, stage, end user, and country.
Based on type, the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa hydrogen compressor market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa hydrogen compressor market share in 2022.
Atlas Copco AB; Burckhardt Compression AG; Gardner Denver Nash, LLC; HAUG Sauer Kompressoren AG; Howden Group; Lenhardt & Wagner GmbH; NEUMAN & ESSER GROUP; and PDC Machines Inc. are among the leading companies operating in the Middle East & Africa hydrogen compressor market.
Summary Info
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According to the Research Team’ research, the Middle East & Africa hydrogen compressor market was valued at US$ 133.70 million in 2022 and is expected to reach US$ 176.73 million by 2030, registering a CAGR of 3.6% from 2022 to 2030. Rising investments in renewable energy and hydrogen generation projects worldwide and development of electrochemical hydrogen compressor (EHC) are among the critical factors attributed to drive the Middle East & Africa hearing market growth.
With rising urbanization and rapid industrial growth, energy consumption across the globe has proliferated. Thus, to meet this huge demand for power, there is a rapid increase in the launch of hydrogen-generated power projects. According to the Ember Climate Organization, total global energy demand reached ~13,393 TWh in the first quarter of 2022, an increase from 13,004 TWh compared to 2021. Such an increase in demand for energy and power, owing to rising residential and industrial manufacturing requirements, is driving the demand for hydrogen compressors. Renewable energy plays a significant role in making electricity. Per the International Energy Agency (IEA), the global demand for electricity is anticipated to increase by 2.1% annually by 2040. Therefore, development in the renewable energy & power sector is surging the demand for power generation projects worldwide, thereby boosting the demand for hydrogen compressors.
There is a rise in investments in the renewable energy sector due to increased government initiatives and funding, which promotes the adoption of hydrogen compressors. Per the IEA, global investments in the renewable energy sector reached US$ 358.0 billion in the first six months of 2023, an increase of 22% rise compared to the start of last year and an all-time high for any six months. Renewable energy companies compared to last year, 2022. The venture capital firms and private equity companies are expanding their operations in the renewable energy sector, reaching US$ 10.4 billion in the first quarter of 2023. Further, many hydrogen production projects are being launched due to government support and funding. According to the International Energy Agency Organization and McKinsey Report, globally, more than 680 large-scale investment projects announced with investments of US$ 240 billion by 2022. The report estimates that investment is expected to reach US$ 700 billion by 2030 to achieve the net-zero target. Also, investment in building hydrogen fuel stations across the globe is rising, owing to a surge in investments in fuel cell technology by private equity firms and venture capital. Thus, rising investments in renewable energy and hydrogen generation projects owing to government support and funding are anticipated to create ample opportunity for the market growth in the coming years.
On the contrary, the high recurring cost in maintenance hampers the growth of Middle East & Africa hydrogen compressor market.
Based on type, the Middle East & Africa hydrogen compressor market is bifurcated into oil-based and oil-free. The oil-based segment held 66.7% market share in 2022, amassing US$ 88.94 million. It is projected to garner US$ 114.86 million by 2030 to register 3.2% CAGR during 2022–2030.
In terms of stage, the Middle East & Africa hydrogen compressor market is bifurcated into single-stage and multi-stage. The multi-stage segment held 63.1% share of Middle East & Africa hydrogen compressor market in 2022, amassing US$ 82.84 million. It is anticipated to garner US$ 111.33 million by 2030 to expand at 3.8% CAGR during 2022–2030.
By end user, the Middle East & Africa 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 41.3% share of Middle East & Africa hydrogen compressor market in 2022, amassing US$ 54.75 million. It is projected to garner US$ 71.96 million by 2030 to expand at 3.5% CAGR from 2022 to 2030.
By country, the Middle East & Africa hydrogen compressor market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 39.8% share of Middle East & Africa hydrogen compressor market in 2022. It was assessed at US$ 53.19 million in 2022 and is likely to hit US$ 74.86 million by 2030, registering a CAGR of 4.4% during 2022–2030.
Key players operating in the Middle East & Africa hydrogen compressor market are Atlas Copco AB; Burckhardt Compression AG; Gardner Denver Nash, LLC; HAUG Sauer Kompressoren AG; Howden Group; Lenhardt & Wagner GmbH; NEUMAN & ESSER GROUP; and PDC Machines Inc., among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa hydrogen compressor market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the Middle East & Africa hydrogen compressor market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Hydrogen Compressor Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Hydrogen Compressor Suppliers
5. Middle East & Africa Hydrogen Compressor Market – Key Industry Dynamics
5.1 Middle East & Africa Hydrogen Compressor Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Growing Adoption of Hydrogen Fuel Cell Vehicles
5.2.2 Increasing Investments across Oil & Gas Sector
5.2.3 Increasing Industrial Production Activities
5.3 Market Restraints
5.3.1 High Recurring Cost in Maintenance
5.4 Market Opportunities
5.4.1 Rising Investments in Renewable Energy and Hydrogen Generation Projects Worldwide
5.5 Future Trends
5.5.1 Development of Electrochemical Hydrogen Compressor (EHC)
5.6 Impact of Drivers and Restraints:
6. Hydrogen Compressor Market – Middle East & Africa Market Analysis
6.1 Middle East & Africa Hydrogen Compressor Market Revenue (US$ Million), 2022 – 2030
6.2 Hydrogen Compressor Market Forecast and Analysis
7. Middle East & Africa Hydrogen Compressor Market Analysis – Type
7.1 Oil-based
7.1.1 Overview
7.1.2 Oil-based Market Revenue, and Forecast to 2030 (US$ Million)
7.2 Oil-free
7.2.1 Overview
7.2.2 Oil-free Market Revenue, and Forecast to 2030 (US$ Million)
8. Middle East & Africa Hydrogen Compressor Market Analysis – Stage
8.1 Single Stage
8.1.1 Overview
8.1.2 Single Stage Market, Revenue and Forecast to 2030 (US$ Million)
8.2 Multi Stage
8.2.1 Overview
8.2.1.1 Multi Stage Market, Revenue and Forecast to 2030 (US$ Million)
9. Middle East & Africa Hydrogen Compressor Market Analysis – End user
9.1 Chemicals
9.1.1 Overview
9.1.2 Chemicals Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Oil and Gas
9.2.1 Overview
9.2.2 Oil and Gas Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Automotive and Transportation
9.3.1 Overview
9.3.2 Automotive and Transportation Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Renewable Energy
9.4.1 Overview
9.4.2 Renewable Energy Market Revenue, and Forecast to 2030 (US$ Million)
9.5 Refueling Stations
9.5.1 Overview
9.5.2 Refueling Station Market Revenue, and Forecast to 2030 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
10. Middle East & Africa Hydrogen Compressor Market – Country Analysis
10.1 Overview
10.1.1 Middle East & Africa Hydrogen Compressor Market Revenue and Forecasts and Analysis – By Country
10.1.1.1 Middle East & Africa Hydrogen Compressor Market Revenue and Forecasts and Analysis – By Country
10.1.1.2 South Africa Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 South Africa Hydrogen Compressor Market Breakdown by Type
10.1.1.2.2 South Africa Hydrogen Compressor Market Breakdown by Stage
10.1.1.2.3 South Africa Hydrogen Compressor Market Breakdown by End user
10.1.1.3 Saudi Arabia Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Saudi Arabia Hydrogen Compressor Market Breakdown by Type
10.1.1.3.2 Saudi Arabia Hydrogen Compressor Market Breakdown by Stage
10.1.1.3.3 Saudi Arabia Hydrogen Compressor Market Breakdown by End user
10.1.1.4 UAE Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.4.1 UAE Hydrogen Compressor Market Breakdown by Type
10.1.1.4.2 UAE Hydrogen Compressor Market Breakdown by Stage
10.1.1.4.3 UAE Hydrogen Compressor Market Breakdown by End user
10.1.1.5 Rest of MEA Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.5.1 Rest of MEA Hydrogen Compressor Market Breakdown by Type
10.1.1.5.2 Rest of MEA Hydrogen Compressor Market Breakdown by Stage
10.1.1.5.3 Rest of MEA Hydrogen Compressor Market Breakdown by End user
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
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 Gardner Denver Nash, LLC
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 Howden Group
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 HAUG Sauer Kompressoren AG
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
13.6.5 Key Developments
13.7 Lenhardt & Wagner GmbH
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 PDC Machines Inc.
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
14. Appendix
14.1 Word Index
LIST OF TABLES
Table 1.            Middle East & Africa Hydrogen Compressor Market Segmentation
Table 2.            List of Vendors in the Value Chain
Table 3.            Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million)
Table 4.            Middle East & Africa Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 5.            Middle East & Africa Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – Stage
Table 6.            Middle East & Africa Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – End user
Table 7.            Middle East & Africa Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 8.            South Africa Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 9.            South Africa Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 10.         South Africa Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 11.         Saudi Arabia Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 12.         Saudi Arabia Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 13.         Saudi Arabia Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 14.         UAE Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 15.         UAE Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 16.         UAE Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 17.         Rest of MEA Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 18.         Rest of MEA Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 19.         Rest of MEA Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 20.         Heat Map Analysis by Key Players
Table 21.         List of Abbreviation
LIST OF FIGURES
Figure 1.          Middle East & Africa Hydrogen Compressor Market Segmentation, By Country
Figure 2.          Ecosystem: Middle East & Africa Hydrogen Compressor Market
Figure 3.          Impact Analysis of Drivers and Restraints
Figure 4.          Hydrogen Compressor Market Revenue (US$ Million), 2022 – 2030
Figure 5.          Hydrogen Compressor Market Share (%) – Type, 2022 and 2030
Figure 6.          Oil-based Market Revenue and Forecasts to 2030 (US$ Million)
Figure 7.          Oil-free Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8.          Middle East & Africa Hydrogen Compressor Market Share (%) – Stage, 2022 and 2030
Figure 9.          Single Stage Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10.       Multi Stage Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11.       Middle East & Africa Hydrogen Compressor Market Share (%) – End user, 2022 and 2030
Figure 12.       Chemicals Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13.       Oil and Gas Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14.       Automotive and Transportation Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15.       Renewable Energy Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16.       Refueling Station Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17.       Automotive and Transportation Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18.       Middle East & Africa Hydrogen Compressor Market Breakdown by Key Countries – Revenue (2022) (US$ Million)
Figure 19.       Middle East & Africa Hydrogen Compressor Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 20.       South Africa Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 21.       Saudi Arabia Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 22.       UAE Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 23.       Rest of MEA Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 24.       Company Positioning & Concentration
The List of Companies – Middle East & Africa Hydrogen Compressor Market
o Atlas Copco AB                                   Â
o Burckhardt Compression AGÂ Â Â Â
o Gardner Denver Nash, LLCÂ Â Â Â Â Â Â Â Â Â
o HAUG Sauer Kompressoren AGÂ Â Â Â
o Howden Group                                  Â
o Lenhardt & Wagner GmbHÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
o NEUMAN & ESSER GROUPÂ Â Â Â Â Â Â Â Â Â Â Â
o PDC Machines Inc.               Â
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