North America Hydrogen Compressor Market Size (2024 - 2029)

The North America hydrogen compressor market is anticipated to experience growth over the forecast period, driven by rising investments and demand from end-user industries. Despite the challenges posed by the high cost of hydrogen compressors, the market has rebounded to pre-pandemic levels. The United States leads the market, benefiting from favorable government policies and increased investments in hydrogen generation. Additionally, emerging hydrogen sources and technological advancements are expected to offer significant growth opportunities, contributing to the overall expansion of the market size in the region.

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Market Size of North America Hydrogen Compressor Industry

North America Hydrogen Compressor Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.00 %
Market Concentration Medium

Major Players

North America Hydrogen Compressor Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Hydrogen Compressor Market Analysis

The North America hydrogen compressor market is expected to register a CAGR of over 4% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.

  • Over the medium term, the increasing investments and demand for hydrogen from end-user industries are expected to drive the market's growth.
  • On the other hand, the high cost of hydrogen compressors is expected to hamper the growth of the North American hydrogen compressor market during the forecast period.
  • Nevertheless, in the forecast period, emerging hydrogen sources and technological advancements will likely create lucrative growth opportunities for the solar PV inverters market.
  • The United States dominates the market and will likely witness the highest CAGR during the forecast period. This growth is attributed to the country's increasing investments and supportive government policies for hydrogen generation.

North America Hydrogen Compressor Industry Segmentation

Hydrogen compressors are mechanical devices that increase the pressure of hydrogen gas by reducing its volume, resulting in compressed hydrogen or liquid hydrogen. The North American hydrogen compressor market is segmented by technology, type, end-use industries, and geography. By technology, the market is segmented into single-stage and multistage. By type, the market is segmented into oil-based and oil-free. By end-use industries, the market is segmented into chemical, oil and gas, and other end-use industries. The report also covers the market size and forecasts for the North American hydrogen compressor market across major countries. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).

Technology
Single-stage
Multistage
Type
Oil-based
Oil-free
End-Use Industries
Chemical
Oil and Gas
Other End-Use Industries
Geography
United States
Canada
Rest of North America
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North America Hydrogen Compressor Market Size Summary

The North American hydrogen compressor market is poised for growth, driven by increasing investments and demand from various end-user industries. Despite the initial setback due to the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. The United States, in particular, is expected to lead the market, supported by favorable government policies and significant investments in hydrogen generation. The market is characterized by the use of single-stage compressors, which are ideal for applications requiring high inlet pressures and are widely used in sectors such as refineries, petrochemical plants, and natural gas processing. These compressors are anticipated to experience substantial growth due to their efficiency and reliability in high-temperature applications.

The market landscape is moderately fragmented, with key players like Ariel Corporation, Burckhardt Compression AG, Sundyne Corp., Atlas Copco Group, and Ingersoll Rand Inc. actively participating in the development of hydrogen solutions. Collaborative efforts, such as the partnership between LIFTE H2 and Burckhardt Compression, aim to enhance the global hydrogen infrastructure. Additionally, projects like Linde's PEM electrolyzer in New York and the collaboration between NREL and Toyota in Colorado highlight the region's commitment to expanding its hydrogen capabilities. These initiatives are expected to create significant opportunities for the hydrogen compressor market in North America, particularly in the United States, which is set to dominate the market during the forecast period.

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North America Hydrogen Compressor Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Technology

      1. 2.1.1 Single-stage

      2. 2.1.2 Multistage

    2. 2.2 Type

      1. 2.2.1 Oil-based

      2. 2.2.2 Oil-free

    3. 2.3 End-Use Industries

      1. 2.3.1 Chemical

      2. 2.3.2 Oil and Gas

      3. 2.3.3 Other End-Use Industries

    4. 2.4 Geography

      1. 2.4.1 United States

      2. 2.4.2 Canada

      3. 2.4.3 Rest of North America

North America Hydrogen Compressor Market Size FAQs

The North America Hydrogen Compressor Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Ariel Corporation, Atlas Copco Group, Ingersoll Rand Inc, Burckhardt Compression AG and Sundyne Corp. are the major companies operating in the North America Hydrogen Compressor Market.

North America Hydrogen Compressor Report Snapshots

North America Hydrogen Compressor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)