Hydrogen compressor is a device utilized to reduce the volume of hydrogen to increase the pressure resulting in compressed hydrogen or liquid hydrogen. The compressor decreases the volume of hydrogen gas as gases are compressible, but a pump raising the pressure of a liquid allows the liquid hydrogen to be transferred elsewhere.
Hydrogen compressors are capable of compressing small to medium volumes of hydrogen to high pressures and depending on the application, they may even reach pressures of more than 5,000 bar (75,000 PSI). Furthermore, lubricated compression can attain discharge pressures of more than 600 bar (9,000 PSI) if oil traces are permitted in the gas, which is one of the key drivers of the hydrogen compressor market growth.
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According to a new report published by Allied Market Research, titled, The hydrogen compressor market size was valued at $1.9 billion in 2021, and is estimated to reach $2.8 billion by 2031, growing at a CAGR of 4% from 2022 to 2031.
In addition, increase in investments and government initiatives in the chemical and energy sectors is expected to create opportunities for the hydrogen compressor market. For instance, the U.S. Department of Energy’s (DOE) Office of Fossil Energy (FE) stated in January 2021 that it will allocate USD 160 million in federal funds to assist in re-calibrate the country’s massive fossil fuel and power infrastructure for decarbonized energy and commodity production. Similarly, in March 2022, Sinopec, China’s second-largest oil company has invested $476 million in hydrogen technology research and development and planned a number of pilot green hydrogen projects. The company will prioritize the development of renewable energy projects, particularly those involving hydrogen, in its transition to a low-carbon business structure. The funds will be used to assist a variety of research initiatives aimed at developing hydrogen compressors.
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Top Players:
Key companies profiled in the hydrogen compressor industry report include Ariel Corporation, Atlas Copco AB, Burckhardt Compression AG, Fluitron, Inc, HAUG Sauer Kompressoren AG, Hitachi, Ltd., Howden Group, IDEX Corporation, Ingersoll Rand, Inc., and Nel ASA.
Key Segments:
By Lubrication Type
Oil-based
Oil-free
By End User Industry
Oil and Gas
Chemical
Automotive
Others
By Region
North America (U.S., Canada, Mexico)
Europe (Italy, Germany, France, UK, Netherlands, Rest Of Europe)
Asia-Pacific (China, India, Japan, Thailand, Rest Of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
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