Global Hydrogen Compressor Market - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4536141
  • Report
  • Region: Global
  • 123 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Ariel Corporation
  • Atlas Copco
  • Burckhardt Compression AG
  • Corken Compressors
  • Garden Denve.
  • Haug Kompressoren AG
  • MORE
Major consumers of hydrogen are the chemical and oil downstream industries. Together these industries account for more than 70% of the overall hydrogen consumption. The growing oil downstream and chemical industries are expected to drive the market growth during the forecast period.

Growing Oil Downstream Sector to Drive the Market

Oil downstream industry is a major consumer of hydrogen and in turn hydrogen compressors. Hydrogen is used to process heavy oil, to produce the refined product that meets the end product requirement. The refining industry is expected to register significant growth in Asia-Pacific and the Middle East & Africa. The Asia-Pacific region is heavily dependent on oil to meet energy demands. The region leads the global energy demand. In order to meet the growing energy needs, the petrochemical industry is witnessing substantial growth. The oil downstream industry in Africa is expected to register a significant growth, due to major projects under construction, such as Dangote Refinery in Nigeria, which is expected to triple the country's refining capacity. The growing oil & gas upstream industry in the region is expected to further support the downstream industry. Many countries in the Middle East are investing heavily in the downstream sector, as selling refined oil rather than crude oil earns higher profit margins for these countries. Hence the growing downstream industry is expected to drive the hydrogen compressor market, during the forecast period.

Expanding Chemical Industry to Drive the Market in Asia-Pacific

In the chemical industry, hydrogen is mainly used for the production of methanol and ammonia. Ammonia and methanol production consumes more than 50% of the hydrogen consumption worldwide. The Asia-Pacific region is a leading manufacturer of chemicals. Commoditized chemical production accounts for a major share of the total chemical production in the region, but the share of specialty chemicals is increasing, and this trend is expected to continue during the forecast period. Hence, due to this transition in the chemical manufacturing industry, the Asia-Pacific region is expected to see major investments in the construction of new plants, which in turn is expected drive the hydrogen compressor demand in the region during the forecast period.

Growing Production and Consumption of Natural Gas to Restrain the Market in the United States

Natural gas reserves are abundant in the United States. The infrastructure required for the production and distribution of natural gas is available in the country. The domestic gas prices in the United States are low compared to oil prices, and as a result, natural gas is replacing oil consumption. With growing use of natural gas constraining oil consumption, the oil downstream sector is facing stagnancy and the gas processing industry is gaining momentum. The natural gas components are lighter, and hence, do not require hydrogen gas for the processing. Therefore, the growing production and consumption of natural gas is restraining the oil downstream industry, in turn, constraining the hydrogen compressor market in the country.

The major players include - Corken Compressors, Ariel Corporation, Burckhardt Compression AG, Hydro-Pac Inc., Haug Kompressoren AG, Sundyne Compressors, amongst others.

Reasons to Purchase this Report
  • Current and future global hydrogen compressor market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3 months analyst support, along with the Market Estimate sheet (in excel)
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Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • Ariel Corporation
  • Atlas Copco
  • Burckhardt Compression AG
  • Corken Compressors
  • Garden Denve.
  • Haug Kompressoren AG
  • MORE
1. Executive Summary

2. Research Methodology

3. Market Overview
3.1 Introduction
3.2 Market Size and Demand Forecast until 2023
3.3 Recent Trends and Developments
3.4 Government Policies and Regulations

4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities

5. Value Chain Analysis

6. Industry Attractiveness - Porter’s Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Intensity of Competitive Rivalry

7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)
7.1 By Type
7.1.1 Single Stage
7.1.2 Multistage
7.2 By End-user Industry
7.2.1 Chemical
7.2.2 Oil & Gas
7.2.3 Others

8. Regional Market Analysis (Overview, Market Size, and Demand Forecast until 2023)
8.1 North America
8.1.1 United States
8.1.2 Canada
8.1.3 Mexico
8.2 Asia-Pacific
8.2.1 China
8.2.2 India
8.2.3 Malaysia
8.2.4 Rest of Asia-Pacific
8.3 Europe
8.3.1 United Kingdom
8.3.2 Germany
8.3.3 France
8.3.4 Rest of Europe
8.4 Middle East & Africa
8.4.1 Saudi Arabia
8.4.2 UAE
8.4.3 Iran
8.4.4 South Africa
8.4.5 Nigeria
8.4.6 Rest of Middle East & Africa
8.6 South America
8.6.1 Brazil
8.6.2 Argentina
8.6.3 Rest of South America

9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Development, and Analyst View)
9.1 Corken Compressors
9.2 Ariel Corporation
9.3 Burckhardt Compression AG
9.4 Hydro-Pac Inc.
9.5 Haug Kompressoren AG
9.6 Sundyne Compressors
9.7 Howden Group
9.8 Indian Compressors Ltd
9.9 Atlas Copco
9.10 Garden Denver

10. Competitive Landscape
10.1 Mergers and Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Strategies Adopted by Leading Players

11. Disclaimer
*List not Exhaustive
**Subject to availability on public domain
Note: Product cover images may vary from those shown
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  • Corken Compressors
  • Ariel Corporation
  • Burckhardt Compression AG
  • Hydro-Pac Inc.
  • Haug Kompressoren AG
  • Sundyne Compressors
  • Howden Group
  • Indian Compressors Ltd
  • Atlas Copco
  • Garden Denve.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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