Europe Hydrogen Compressor Market Forecast to 2030
Europe 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
Rising Investments in Renewable Energy and Hydrogen Generation Projects Worldwide Boost Europe Hydrogen Compressor Market
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. China accounted for the largest market share in the first quarter of 2023, with investment reaching US$ 177 billion, increased by 16% compared to the first quarter of 2022. Also, the US secured an investment of ~US$ 36 billion, followed by Germany, with an investment of US$ 11.9 billion for the expansion of the renewable energy sector. 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. For instance, in March 2022, H2 Mobility Germany’s fueling station network planned an investment of US$ 121 million for the next five years for building the hydrogen infrastructure for fuel cell vehicles in the country. 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.
Europe Hydrogen Compressor Market Overview
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 for the production of renewable hydrogen from the climate change innovation fund. Hydrogen compressor is widely used in renewable energy with government support and initiatives. Rising investments across the oil & gas industry further drive the Europe hydrogen compressor market growth. The region’s oil & gas sector has 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 electrolyzers 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 & power projects. Apart from energy & power, utilities, food & 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 the 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 Revenue and Forecast to 2030 (US$ Million)
Europe Hydrogen Compressor Market Segmentation
The Europe hydrogen compressor market is categorized into type, stage, end user, and country.
Based on type, the Europe 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 Europe 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 Europe 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 Europe hydrogen compressor market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe hydrogen compressor market share in 2022.
Atlas Copco AB; Burckhardt Compression AG; Gardner Denver Nash, LLC; HAUG Sauer Kompressoren AG; Howden Group; Hydro-Pac, Inc.; Lenhardt & Wagner GmbH; NEUMAN & ESSER GROUP; and PDC Machines Inc. are among the leading companies operating in the Europe hydrogen compressor market.
Summary Info
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According to the Research Team’ research, the Europe hydrogen compressor market was valued at US$ 438.68 million in 2022 and is expected to reach US$ 612.08 million by 2030, registering a CAGR of 4.3% from 2022 to 2030. Increasing investments across oil & gas sector and rising investments in renewable energy and hydrogen generation projects worldwide are among the critical factors attributed to drive the Europe hearing market growth.
The oil & gas sector is rapidly expanding in several countries, such as China, the US, Saudi Arabia, Russia, and Mexico. The industry’s growth is driven by increasing oil and gas exploration activities in these countries. There is a rising adoption of advanced technologies for drilling and completing operations to optimize oil and gas production. Governments of various countries are investing in the mining, refineries, and oil & gas sectors. There is a rise in investments in the oil & gas, coal extraction, and low-carbon fuel industries. Per the International Energy Agency (IEA), the net income of the world’s leading oil and gas producers doubled in 2022, reaching US$ 4.0 trillion. In 2022, the key oil and gas companies invested US$ 200 billion in the capital investment responsible for boosting oil and gas capacity across the globe. The Europe hydrogen compressor market is majorly related to the oil & gas industry, as hydrogen is majorly used in the oil refining process for petroleum products. The increase in investments in the oil & gas industry has created massive demand for hydrogen compressors as they are widely used for transportation and compression of hydrogen gas in the oil and gas refining process. Thus, growing investments in the development of the oil & gas sector are driving the Europe hydrogen compressor market growth.
On the contrary, the high recurring cost in maintenance hampers the growth of Europe hydrogen compressor market.
Based on type, the Europe hydrogen compressor market is bifurcated into oil-based and oil-free. The oil-based segment held 62.9% market share in 2022, amassing US$ 276.79 million. It is projected to garner US$ 372.26 million by 2030 to register 3.8% CAGR during 2022–2030.
In terms of stage, the Europe hydrogen compressor market is bifurcated into single-stage and multi-stage. The multi-stage segment held 59.7% share of Europe hydrogen compressor market in 2022, amassing US$ 263.19 million. It is anticipated to garner US$ 373.91 million by 2030 to expand at 4.5% CAGR during 2022–2030.
By end user, the Europe 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 31.8% share of Europe hydrogen compressor market in 2022, amassing US$ 135.97 million. It is projected to garner US$ 182.45 million by 2030 to expand at 3.7% CAGR from 2022 to 2030.
By country, the Europe hydrogen compressor market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 28.3% share of Europe hydrogen compressor market in 2022. It was assessed at US$ 124.04 million in 2022 and is likely to hit US$ 166.82 million by 2030, registering a CAGR of 3.8% during 2022–2030.
Key players operating in the Europe hydrogen compressor market are Atlas Copco AB; Burckhardt Compression AG; Gardner Denver Nash, LLC; HAUG Sauer Kompressoren AG; Howden Group; Hydro-Pac, Inc.; 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 Europe 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 Europe market trends and outlook coupled with the factors driving the Europe 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. Europe Hydrogen Compressor Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Hydrogen Compressor Suppliers
5. Europe Hydrogen Compressor Market – Key Industry Dynamics
5.1 Europe 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 – Europe Market Analysis
6.1 Europe Hydrogen Compressor Market Revenue (US$ Million), 2022 – 2030
6.2 Europe Hydrogen Compressor Market Forecast and Analysis
7. Europe 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. Europe 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. Europe 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. Europe Hydrogen Compressor Market – Country Analysis
10.1 Overview
10.1.1 Europe Hydrogen Compressor Market Revenue and Forecasts and Analysis – By Country
10.1.1.1 Europe Hydrogen Compressor Market Revenue and Forecasts and Analysis – By Country
10.1.1.2 Germany: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 Germany: Europe Hydrogen Compressor Market Breakdown by Type
10.1.1.2.2 Germany: Europe Hydrogen Compressor Market Breakdown by Stage
10.1.1.2.3 Germany: Europe Hydrogen Compressor Market Breakdown by End user
10.1.1.3 France: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 France: Europe Hydrogen Compressor Market Breakdown by Type
10.1.1.3.2 France: Europe Hydrogen Compressor Market Breakdown by Stage
10.1.1.3.3 France: Europe Hydrogen Compressor Market Breakdown by End user
10.1.1.4 Italy: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.4.1 Italy: Europe Hydrogen Compressor Market Breakdown by Type
10.1.1.4.2 Italy: Europe Hydrogen Compressor Market Breakdown by Stage
10.1.1.4.3 Italy: Europe Hydrogen Compressor Market Breakdown by End user
10.1.1.5 UK: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.5.1 UK: Europe Hydrogen Compressor Market Breakdown by Type
10.1.1.5.2 UK: Europe Hydrogen Compressor Market Breakdown by Stage
10.1.1.5.3 UK: Europe Hydrogen Compressor Market Breakdown by End user
10.1.1.6 Russia: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.6.1 Russia: Europe Hydrogen Compressor Market Breakdown by Type
10.1.1.6.1.1 Russia: Europe Hydrogen Compressor Market Breakdown by Stage
10.1.1.6.1.2 Russia Europe Hydrogen Compressor Market Breakdown by End user
10.1.1.7 Rest of Europe: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.7.1 Rest of Europe: Europe Hydrogen Compressor Market Breakdown by Type
10.1.1.7.2 Rest of Europe: Europe Hydrogen Compressor Market Breakdown by Stage
10.1.1.7.3 Rest of Europe: Europe 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 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 Word Index
LIST OF TABLES
Table 1.            Europe Hydrogen Compressor Market Segmentation
Table 2.            List of Vendors in the Value Chain
Table 3.            Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million)
Table 4.            Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 5.            Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – Stage
Table 6.            Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – End user
Table 7.            Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 8.            Germany: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 9.            Germany: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 10.         Germany: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 11.         France: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 12.         France: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 13.         France: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 14.         Italy: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 15.         Italy: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 16.         Italy: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 17.         UK: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 18.         UK: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 19.         UK: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 20.         Russia: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 21.         Russia: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 22.         Russia Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 23.         Rest of Europe: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 24.         Rest of Europe: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 25.         Rest of Europe: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 26.         Heat Map Analysis by Key Players
Table 27.         List of Abbreviation
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LIST OF FIGURES
Figure 1.          Europe Hydrogen Compressor Market Segmentation, By Country
Figure 2.          Ecosystem: Europe Hydrogen Compressor Market
Figure 3.          Impact Analysis of Drivers and Restraints
Figure 4.          Europe Hydrogen Compressor Market Revenue (US$ Million), 2022 – 2030
Figure 5.          Europe 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.          Europe 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.       Europe 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.       Europe Hydrogen Compressor Market Breakdown by Key Countries – Revenue (2022) (US$ Million)
Figure 19.       Europe Hydrogen Compressor Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 20.       Germany: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 21.       France: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 22.       Italy: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 23.       UK: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 24.       Russia: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 25.       Rest of Europe: Europe Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 26.       Company Positioning & Concentration
The List of Companies – Europe Hydrogen Compressor Market
o Atlas Copco ABÂ
o Burckhardt Compression AGÂ
o Gardner Denver Nash, LLC
o HAUG Sauer Kompressoren AGÂ
o Howden GroupÂ
o Hydro-Pac, Inc.Â
o Lenhardt & Wagner GmbHÂ
o NEUMAN & ESSER GROUP
o PDC Machines Inc.
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