South & Central America Hydrogen Compressor Market Forecast to 2030
South & Central America 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
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.
Summary Info
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According to the Research Team’ research, 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, registering a CAGR of 4.0% from 2022 to 2030. Development of electrochemical hydrogen compressor (EHC) and increasing industrial production activities are among the critical factors attributed to drive the South & Central America hearing market growth.
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 South & Central America hydrogen compressor market.
On the contrary, the high recurring cost in maintenance hampers the growth of South & Central America hydrogen compressor market.
Based on type, the South & Central America hydrogen compressor market is bifurcated into oil-based and oil-free. The oil-based segment held 65.1% market share in 2022, amassing US$ 70.88 million. It is projected to garner US$ 93.89 million by 2030 to register 3.6% CAGR during 2022-2030.
In terms of stage, the South & Central America hydrogen compressor market is bifurcated into single-stage and multi-stage. The multi-stage segment held 62.1% share of South & Central America hydrogen compressor market in 2022, amassing US$ 65.40 million. It is anticipated to garner US$ 91.17 million by 2030 to expand at 4.2% CAGR during 2022-2030.
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 38.1% share of South & Central America hydrogen compressor market in 2022, amassing US$ 41.15 million. It is projected to garner US$ 51.75 million by 2030 to expand at 2.9% CAGR from 2022 to 2030.
By country, the South & Central America hydrogen compressor market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 52.1% share of South & Central America hydrogen compressor market in 2022. It was assessed at US$ 56.24 million in 2022 and is likely to hit US$ 76.74 million by 2030, registering a CAGR of 4.0% during 2022-2030.
Key players operating in the South & Central America hydrogen compressor market are Atlas Copco AB; Burckhardt Compression AG; Gardner Denver Nash, LLC; HAUG Sauer Kompressoren AG; Howden Group; and NEUMAN & ESSER GROUP, 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 South & Central America 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 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.
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. South & Central America Hydrogen Compressor Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Hydrogen Compressor Suppliers
5. South & Central America Hydrogen Compressor Market – Key Industry Dynamics
5.1 South & Central America 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 – South & Central America Market Analysis
6.1 South & Central America Hydrogen Compressor Market Revenue (US$ Million), 2022 – 2030
6.2 South & Central America Hydrogen Compressor Market Forecast and Analysis
7. South & Central America 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. South & Central America 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. South & Central America 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. South & Central America Hydrogen Compressor Market – Country Analysis
10.1 Overview
10.1.1 South & Central America Hydrogen Compressor Market Revenue and Forecasts and Analysis – By Countries
10.1.1.1 Brazil: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.1.1 Brazil: South & Central America Hydrogen Compressor Market Breakdown by Type
10.1.1.1.2 Brazil: South & Central America Hydrogen Compressor Market Breakdown by Stage
10.1.1.1.3 Brazil: South & Central America Hydrogen Compressor Market Breakdown by End user
10.1.1.2 Argentina: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 Argentina: South & Central America Hydrogen Compressor Market Breakdown by Type
10.1.1.2.2 Argentina: South & Central America Hydrogen Compressor Market Breakdown by Stage
10.1.1.2.3 Argentina: South & Central America Hydrogen Compressor Market Breakdown by End user
10.1.1.3 Rest of South & Central America: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Rest of South & Central America: South & Central America Hydrogen Compressor Market Breakdown by Type
10.1.1.3.2 Rest of South & Central America: South & Central America Hydrogen Compressor Market Breakdown by Stage
10.1.1.3.3 Rest of South & Central America: South & Central America 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
14. Appendix
14.1 Word Index
LIST OF TABLES
Table 1. South & Central America Hydrogen Compressor Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million)
Table 4. South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 5. South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – Stage
Table 6. South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – End user
Table 7. South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 8. Brazil: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 9. Brazil: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 10. Brazil: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 11. Argentina: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 12. Argentina: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 13. Argentina: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 14. Rest of South & Central America: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 15. Rest of South & Central America: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 16. Rest of South & Central America: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 17. Heat Map Analysis by Key Players
Table 18. List of Abbreviation
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LIST OF FIGURES
Figure 1. South & Central America Hydrogen Compressor Market Segmentation, By Country
Figure 2. Ecosystem: South & Central America Hydrogen Compressor Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. South & Central America Hydrogen Compressor Market Revenue (US$ Million), 2022 – 2030
Figure 5. South & Central America 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. South & Central America 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. South & Central America 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. South & Central America Hydrogen Compressor Market Breakdown by Key Countries – Revenue (2022) (US$ Million)
Figure 19. South & Central America Hydrogen Compressor Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 20. Brazil: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 21. Argentina: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 22. Rest of South & Central America: South & Central America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 23. Company Positioning & Concentration
The List of Companies – South & Central America Hydrogen Compressor Market
1. Atlas Copco AB
2. Burckhardt Compression AG
3. Gardner Denver Nash, LLC
4. HAUG Sauer Kompressoren AG
5. Howden Group
6. NEUMAN & ESSER GROUP
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