Dublin, Feb. 11, 2020 (GLOBE NEWSWIRE) -- The "Global Hydrogen Compressor Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" report has been added to ResearchAndMarkets.com's offering.
The global hydrogen compressor market is expected to reach US$ 3.09 billion by 2027, expanding at a CAGR of 6.8% during the forecast from 2019 to 2027.
Increasing demand for distillate fuel oil and strict regulations worldwide, with respect to sulfur content, has gradually increased the use of hydrogen in the industrial segment. Growing applications in power generation units, transportation, oil and gas refineries, chemical plants, and other industrial processes are expected to drive the market for hydrogen compressor.
Increasing applications of hydrogen in fuel cells and electronic gadgets, along with growing numbers of hydrogen fueling stations is expected to boost the demand for hydrogen compressor market. In addition, supportive government policies and efforts to incorporate hydrogen in transportation and other applications are expected to drive the hydrogen compressor market.
Hydrogen fuel cells offer more advantage such as eliminates pollution, fuel-efficient, compact size, and energy storage as compared to other technologies such as renewable hybrid systems, energy storage systems, and diesel generators. Apart from this, hydrogen fuel cells provide uninterrupted electricity without affected by dynamic weather conditions. Hydrogen fuel cells are very compact in size and require less maintenance, which drives the market for hydrogen Compressor worldwide.
Asia-Pacific is expected to witness significant growth for hydrogen Compressor due to an increase in demand from the refining and petrochemical industries, and the hydrogen fuel cell vehicle industry. Government policies and regulations for environmental pollution control in countries such as India, China, and Japan are expected to fuel the demand for hydrogen compressor. In January 2017, India's Tata Motors launched the first hydrogen fuel cell bus in Pune, Maharashtra. Such improvements in the automotive industry are projected to create some new opportunities for the hydrogen Compressor market.
Major developments and investments for chemical industries in the Asia Pacific region is increasing the demand for hydrogen Compressor market. As a part of its energy and industrial policy, Japan is striving more to develop its hydrogen economy with an intention to reduce environmental pollutions. Due to the presence of petrochemicals and hydrogen fuel cell vehicle industries, Japan is expected to have a major demand for hydrogen Compressor.
However, due to volatility in raw materials price (stainless steel), high capital costs, frequent maintenance of Compressor, and low demand for fueling stations are the restraining factors for the growth of the global hydrogen compressor market. In addition to this, growing production and consumption of natural gas also inhibits the growth of hydrogen Compressors.
Some of the leading manufacturers profiled in the study include Hydro-Pac Inc., Howden Group, Ariel Corporation, Corken Compressor, Atlas Copco AB, Burckhardt Compression AG, HAUG Sauer Kompressoren AG, Gardner Denver, and Hitachi Ltd.
Key Topics Covered
1. Preface
1.1. Report Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase III-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted
2. Executive Summary
2.1. Global Hydrogen Compressor Market Snapshot
2.1.1. Global Hydrogen Compressor Market by Technology, 2018 (US$ Bn)
2.1.2. Global Hydrogen Compressor Market by Type, 2018 (US$ Bn)
2.1.3. Global Hydrogen Compressor Market by End-user, 2018 (US$ Bn)
2.1.4. Global Hydrogen Compressor Market by Geography, 2018(US$ Bn)
3. Global Hydrogen Compressor Market Dynamics
3.1. Market Overview
3.2. Drivers
3.3. Challenges
3.4. Impact Analysis of Drivers and Challenges
3.5. Competitive Landscape
3.5.1. Market Positioning of Leading Hydrogen Compressor Manufacturers, 2018
3.5.2. Strategies Adopted by Leading Hydrogen Compressor Manufacturers
4. Global Hydrogen Compressor Market Size (US$ Bn), By Technology, 2017 - 2027
4.1. Overview
4.1.1. Hydrogen Compressor Market Analysis by Technology, 2018 & 2027
4.1.1.1. Single-stage
4.1.1.2. Multi-stage
5. Global Hydrogen Compressor Market Size (US$ Bn), By Type, 2017 - 2027
5.1. Overview
5.1.1. Hydrogen Compressor Market Analysis by Type, 2018 & 2027
5.2. Oil-based
5.3. Oil-free
6. Global Hydrogen Compressor Market Size (US$ Bn), By End-user, 2017 - 2027
6.1. Overview
6.1.1. Hydrogen Compressor Market Analysis by End User, 2018 & 2027
6.2. Oil and Gas
6.3. Chemical Industries
6.4. Utility Industries
6.5. Other Industries
7. Global Hydrogen Compressor Market Size (US$ Bn), By Geography, 2017 - 2027
7.1. North America
7.2. Europe
7.3. Asia-Pacific
7.4. Rest of World
8. North America Hydrogen Compressor Market Analysis, 2017 - 2027
9. Europe Hydrogen Compressor Market Analysis, 2017 - 2027
10. Asia-Pacific Hydrogen Compressor Market Analysis, 2017 - 2027
11. Rest of the World Hydrogen Compressor Market Analysis, 2017 - 2027
12. Company Profiles
12.1. Competitive Dashboard
12.1.1. Hydro-Pac Inc.
12.1.2. Howden Group
12.1.3. Ariel Corporation
12.1.4. Corken Compressor
12.1.5. Atlas Copco AB
12.1.6. Burckhardt Compression AG
12.1.7. HAUG Sauer Kompressoren AG
12.1.8. Gardner Denver
12.1.9. Hitachi Ltd.
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