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Global hydrogen compressor market to generate $2.66 billion by 2030: Allied Market Research

Development of hydrogen pipeline infrastructure, surge in demand for hydrogen from the oil industry, and rise in the chemical industry drive the growth of the global hydrogen compressor market. Based on region, Asia-Pacific held the largest share in 2020, and is projected to maintain its leadership status in terms of revenue by 2030. Manufacturing activities of hydrogen compressors stopped due to lockdown measures taken place during the Covid-19 pandemic.

Portland, OR, Sept. 20, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hydrogen compressor market generated $1.78 billion in 2020, and is estimated to generate $2.66 billion by 2030, witnessing a CAGR of 4.0% from 2021 to 2030. The report offers a detailed analysis of changing market dynamics, key investment pockets, top segments, value chain, regional scenario, and competitive landscape.

Development of hydrogen pipeline infrastructure, surge in demand for hydrogen from the oil industry, and rise in the chemical industry drive the growth of the global hydrogen compressor market. However, economic slowdown and rise in environmental awareness restrain the market growth. On the other hand, demand for hydrogen compressors in ethylene plants presents new opportunities in the coming years.

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Covid-19 Scenario:

  • Manufacturing activities of hydrogen compressors stopped due to lockdown measures implemented in many countries. Moreover, disruptions in the supply chain and shortage of raw materials presented challenges in conducting manufacturing in full capacity.

  • The demand from end-use industries such as oil & gas, automotive, chemical, and others lowered down significantly due to halt in daily operations during the lockdown. However, the demand is estimated to grow steadily during post-lockdown.

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The report offers detailed segmentation of the global hydrogen compressor market based on technology type, lubricant type, end user industry, and region.

Based on technology type, the mechanical compressors segment accounted for the highest share in 2020, contributing to more than three-fourths of the total share, and is expected to maintain its lead position during the forecast period. Moreover, this segment is estimated to register the fastest CAGR of 4.2% from 2021 to 2030. The report also analyzes the non-mechanical compressors segment.

Get detailed COVID-19 impact analysis on the Hydrogen Compressor Market Request Here

Based on end user industry, the oil and gas segment accounted for the highest share in 2020, contributing to nearly three-fifths of the global hydrogen compressor market, and is projected to maintain its dominance during the forecast period. In addition, this segment is expected to witness the fastest CAGR of 4.3% from 2021 to 2030. The research also discusses the segments including chemical, automotive, and others.

Based on region, Asia-Pacific held the largest share in 2020, accounting for nearly one-third of the total share, and is projected to maintain its leadership status in terms of revenue by 2030. Moreover, this region is expected to portray the largest CAGR of 4.8% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.

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Leading Players:

Leading players of the global hydrogen compressor market analyzed in the research include Ariel Corporation, Burckhardt Compression AG, Atlas Copco AB, HAUG Sauer Kompressoren AG, Fluitron, Inc., Howden Group, Hitachi, Ltd., Ingersoll Rand, Inc., IDEX Corporation, and Nel ASA.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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