LONDON--(BUSINESS WIRE)--The global hydrogen compressor market size is poised to grow by USD 1.74 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 5% during the forecast period.
Read the 176-page research report with TOC on "Hydrogen Compressor Market Analysis Report by end-user (oil and gas, chemicals, and others), technology (multi-stage, and single-stage), type (oil-based, and oil-free), power range (below 100 hp, 101 hp-200hp, and 201 hp and above), and geography (APAC, Europe, North America, South America, and MEA) 2019 - 2023". Request a Free Sample Report
The market is driven by the growing focus on using hydrogen in refineries. In addition, the rising number of hydrogen fueling stations is expected to further boost the growth of the hydrogen compressor market.
The refinery industry is one of the major end-users of hydrogen as it requires hydrogen for various applications, such as processing crude oil into refined fuel and removing impurities or contaminants, including sulfur. Moreover, the rising global demand for distillate fuel oil and the strict regulations related to sulfur content are the major factors driving the demand for hydrogen in the refinery industry. Thus, the growing use of hydrogen in refineries will drive the growth of the hydrogen compressor market during the forecast period.
The increasing applications of hydrogen in fuel cells in the transportation and electronics sectors are increasing the demand for hydrogen compressors. A hydrogen compressor is one of the main equipment used in hydrogen storage and transportation processes. Furthermore, the increasing focus on clean energy sources in the transport segment is stimulating the demand for hydrogen compressors in hydrogen fuel stations.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Ariel Corp.
- Atlas Copco AB
- Burckhardt Compression Holding AG
- Colfax Corp.
- Hitachi Ltd.
Market Segmentation by Technology:
The hydrogen compressor market can be broadly categorized into the following segments:
Key Regions for the Hydrogen Compressor Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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Aircraft Engine Compressor Market – Global Aircraft Engine Compressor Market by application (commercial and business aircraft and military aircraft) and geography (APAC, Europe, MEA, North America, and South America).
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