Wishing you all the joys of the season! 
North America Hydrogen Compressor Market Forecast to 2030
North 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)
$2,485 – $3,885
- Description
- Toplines
- Reasons for Buying
- Table of Contents
- List of Tables
- LIst of Figures
- List of Companies
- Reviews (0)
Description
Growing Adoption of Hydrogen Fuels Cell Vehicles Fuel North America Hydrogen Compressor Market
The rise in government investments in the development of hydrogen fuel infrastructure and incentives offered to the buyers are allowing the original equipment manufacturers (OEMs) to expand their revenue stream as well as their geographical presence. There is an increase in demand for low-emission and cost-efficient vehicles owing to associated government initiatives and a growing number of high-performance commercial vehicles across the globe. Numerous government policies have been deployed to reduce emissions by vehicles. For instance, in the US, the state of California dedicated funds for the development of 100 hydrogen refueling stations and is aiming to reach ~1.5 million zero-emission vehicles by 2025, driving the demand for hydrogen fuel cell vehicles. Due to rising concerns regarding the depletion of natural resources and environmental degradation, several technologies have been developed and introduced in the market that favor the eco-friendly concept of sustainability. Similarly, rising awareness related to the effects of air pollution and the surge in greenhouse gas emissions is propelling the demand for hydrogen fuel cell vehicles that offer higher fuel economy than internal combustion engine (ICE) vehicles. This vehicle has a fuel economy of more than 63 miles per gallon, while ICE vehicle has 29 miles per gallon on roads. Hydrogen fuel cell vehicles enhance the fuel economy by approximately 3.2%.
Moreover, the fuel cell vehicles can travel approximately 300 miles without refueling.
For instance, the recently launched Honda Clarity offers a zero-emission vehicle in the US with a range of ~366 miles. Hence, achieving better fuel economy and increased driving range is driving the demand for hydrogen compressors. Globally, the adoption of hydrogen fuel cell vehicles is increasing with government support and funding, which boosted investments in hydrogen fuel stations across the globe. According to the Green Car Congress Organization, in 2022, more than 1,000 hydrogen fuel stations were deployed across the globe, and this is growing rapidly with an increase in government investment in hydrogen fuel projects. China has the largest, nearly one-third of the global deployments of hydrogen fuel stations, followed by the US and Japan according to the International Energy Agency. Thus, the growing adoption of hydrogen fuel cell vehicles drives the North America hydrogen compressor market.
North America Hydrogen Compressor Market Overview
The North America hydrogen compressor is segmented into the US, Canada, and Mexico, which have a significant demand for hydrogen compressors owing to the growth in the oil & gas sector. According to the Energy Information Administration in the US, crude oil production in 2022 reached a 0.6 million per day increase of 5.6% compared to 2021. Hydrogen compressor is used in petroleum refineries to ensure leakage-free compression of the oil and gas. In October 2023, Pemex Mexican oil and gas company announced its plan to invest ~US$ 9.2 billion for the expansion of its petroleum refineries.
In North America, the US has the largest market share in 2022, owing to the rapid growth in the oil & gas sector, and is also expected to witness growth in drilling activities in the coming years. The government’s growing investment in oil and gas projects in the region is likely to increase the demand for hydrogen compressors. Various oil & gas projects in North America are expected to boost the North America hydrogen compressor market growth. For instance, the US Department of Energy planned to invest US$ 7 billion in launching the seven clean hydrogen hubs across the nation, and the government planned to accelerate the commercial-scale deployment of clean hydrogen. North America is witnessing significant growth in the renewable energy & power sector owing to growing demand for power transmission projects. Hydrogen compressors are used to compress and store energy efficiently. For instance, in November 2021, the US government passed the Bipartisan Infrastructure Law and invested US$ 9.5 billion in the clean hydrogen project initiatives. This funding will help promote clean hydrogen production over the next five years.
North America Hydrogen Compressor Market Revenue and Forecast to 2030 (US$ Million)
North America Hydrogen Compressor Market Segmentation
The North America hydrogen compressor market is categorized into type, stage, end user, and country.
Based on type, the North 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 North 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 North 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 North America hydrogen compressor market is segmented into the US, Canada, and Mexico. The US dominated the North America hydrogen compressor market share in 2022.
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; and PDC Machines Inc. are among the leading companies operating in the North America hydrogen compressor market.
Summary Info
| Industry: | |
|---|---|
| Pricing options: | |
| Geographical coverage: | |
| Year of Publication: |
According to the Research Team’ research, the North America hydrogen compressor market was valued at US$ 472.74 million in 2022 and is expected to reach US$ 698.09 million by 2030, registering a CAGR of 5.0% from 2022 to 2030. Increasing investments across oil & gas sector and growing adoption of hydrogen fuel cell vehicles are among the critical factors attributed to drive the North America 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 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 North America hydrogen compressor market growth.
On the contrary, the high recurring cost in maintenance hampers the growth of North America hydrogen compressor market.
Based on type, the North America hydrogen compressor market is bifurcated into oil-based and oil-free. The oil-based segment held 64.5% market share in 2022, amassing US$ 305.63 million. It is projected to garner US$ 439.39 million by 2030 to register 4.6% CAGR during 2022–2030.
In terms of stage, the North America hydrogen compressor market is bifurcated into single-stage and multi-stage. The multi-stage segment held 60.1% share of North America hydrogen compressor market in 2022, amassing US$ 285.18 million. It is anticipated to garner US$ 427.05 million by 2030 to expand at 5.2% CAGR during 2022–2030.
By end user, the North 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 35.6% share of North America hydrogen compressor market in 2022, amassing US$ 157.41 million. It is projected to garner US$ 215.32 million by 2030 to expand at 4.0% CAGR from 2022 to 2030.
Based on country, the North America hydrogen compressor market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 78.4% share of North America hydrogen compressor market in 2022. It was assessed at US$ 370.63 million in 2022 and is likely to hit US$ 555.32 million by 2030, registering a CAGR of 5.2% during 2022–2030.
Key players operating in the North America hydrogen compressor market are 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; 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 North 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 North America market trends and outlook coupled with the factors driving the North 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. North America Hydrogen Compressor Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Hydrogen Compressor Suppliers
5. North America Hydrogen Compressor Market – Key Industry Dynamics
5.1 North 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 – North America Market Analysis
6.1 North America Hydrogen Compressor Market Revenue (US$ Million), 2022 – 2030
6.2 North America Hydrogen Compressor Market Forecast and Analysis
7. North 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. North 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. North 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. North America Hydrogen Compressor Market – Country Analysis
10.1 Overview
10.1.1 North America Hydrogen Compressor Market Revenue and Forecasts and Analysis – By Country
10.1.1.1 North America Hydrogen Compressor Market Revenue and Forecasts and Analysis – By Country
10.1.1.2 US: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 US: North America Hydrogen Compressor Market Breakdown by Type
10.1.1.2.2 US: North America Hydrogen Compressor Market Breakdown by Stage
10.1.1.2.3 US: North America Hydrogen Compressor Market Breakdown by End user
10.1.1.3 Canada: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 Canada: North America Hydrogen Compressor Market Breakdown by Type
10.1.1.3.2 Canada: North America Hydrogen Compressor Market Breakdown by Stage
10.1.1.3.3 Canada: North America Hydrogen Compressor Market Breakdown by End user
10.1.1.4 Mexico: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.4.1 Mexico: North America Hydrogen Compressor Market Breakdown by Type
10.1.1.4.2 Mexico: North America Hydrogen Compressor Market Breakdown by Stage
10.1.1.4.3 Mexico: North 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 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 HAUG Sauer Kompressoren AG
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 NEUMAN & ESSER GROUP
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.4.1 SWOT Analysis
13.7.5 Key Developments
13.8 Hydro-Pac, 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
13.9 Lenhardt & Wagner GmbH
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
13.10 PDC Machines Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 Word Index
LIST OF TABLES
Table 1.            North America Hydrogen Compressor Market Segmentation
Table 2.            List of Vendors in the Value Chain
Table 3.            North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million)
Table 4.            North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 5.            North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – Stage
Table 6.            North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Million) – End user
Table 7.            North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 8.            US: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 9.            US: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 10.         US: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 11.         Canada: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 12.         Canada: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Stage
Table 13.         Canada: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By End user
Table 14.         Mexico: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 15.         Mexico: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn) – By Photovoltaic Systems
Table 16.         Mexico: North 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
Â
LIST OF FIGURES
Figure 1.          North America Hydrogen Compressor Market Segmentation, By Country
Figure 2.          Ecosystem: North America Hydrogen Compressor Market
Figure 3.          Impact Analysis of Drivers and Restraints
Figure 4.          North America Hydrogen Compressor Market Revenue (US$ Million), 2022 – 2030
Figure 5.          North 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.          North 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.       North 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.       North America Hydrogen Compressor Market Breakdown by Key Countries – Revenue (2022) (US$ Million)
Figure 19.       North America Hydrogen Compressor Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 20.       US: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 21.       Canada: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 22.       Mexico: North America Hydrogen Compressor Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 23.       Company Positioning & Concentration
The List of Companies – North America Hydrogen Compressor Market
o Atlas Copco ABÂ
o Burckhardt Compression AGÂ
o Fluitron, Inc.Â
o Gardner Denver Nash, LLC
o Howden Group
o HAUG Sauer Kompressoren AG
o NEUMAN & ESSER GROUP
o Hydro-Pac, Inc.
o Lenhardt & Wagner GmbHÂ
o PDC Machines Inc.
You must be logged in to post a review.
Reviews
There are no reviews yet.