Asia Pacific Hydrogen Compressor Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Oil-Based and Oil-Free), Stage (Single-Stage and Multi-Stage), and End-User (Chemicals, Oil and Gas, Automotive and Transportation, Renewable Energy, and Other End-Users)

Oil and Gas Segment to Dominate APAC Hydrogen Compressor Market during 2021-2028.

According to this research study titled “APAC Hydrogen Compressor Market to 2028 - COVID-19 Impact and Analysis and Forecast by: Type, Stage and End -User,” the market is expected to reach US$ 1,055.14 million by 2028 from US$ 700.08 million in 2021. The market is estimated to grow at a CAGR of 6.0% from 2021 to 2028. The report provides trends prevailing in the APAC hydrogen compressor market along with the drivers and restraints pertaining to the market growth. Upsurge in investments in new energy & power projects worldwide is the major factor driving the growth of the APAC hydrogen compressor market. However, issues associated with the expensive recurring cost in maintenance hinder the growth of APAC hydrogen compressor market.

The APAC hydrogen compressor market is segmented into type, stage, end-user and country. Based on type, the market is segmented into oil-based and oil-free. The oil-based segment dominated the market in the year 2020 and oil-free is expected to be the fastest growing during forecast period. In terms of stage, the hydrogen compressor market is segmented into single-stage and multi-stage. Multi-stage segment dominated the market in the year 2020 and single-stage is expected to be the fastest growing during the forecast period. In terms of end-user, the hydrogen compressor market is segmented into chemicals, oil and gas, automotive and transportation, renewable energy, and other end users. Oil and gas segment dominated the market in 2020 and automotive and transportation segment is expected to be the fastest growing during the forecast period.

China and India are known for the increased emphasis on industrialization, and they are among the prominent manufacturing hubs in APAC. The lockdown imposed by several country governments amid the COVID-19 pandemic has severely affected the growth of the energy & power, chemicals, and food & beverages industries. Nevertheless, these industries are soon likely to recover this damage by ramping up their production capabilities from the second half of 2021. Companies in Asia have restructured their capabilities by adopting strategies such as automation, partnership, and acquisition. Moreover, the demand for advanced electronics, such as hydrogen compressors, has risen significantly in these countries. China is responsible for more than 80% of the global supply chain of raw material. The country managed to control the spread of COVID-19 during the second quarter of 2020, and industries are up and running. Hubei, for example, is one of China's four main car production centers, with over 100 automotive suppliers. Hubei's automotive plants began to reopen gradually after March 11, 2020. Such developments are expected to present a positive outlook for the hydrogen compressor market players in APAC countries.

Atlas Copco AB; Burckhardt Compression AG; Fluitron, Inc.; Gardner Denver Nash, LLC; HAUG Sauer Kompressoren AG; Howden Group; Hydro-Pac, Inc.; Lenhardt & Wagner GmbH; NEUMAN & ESSER GROUP; and PDC Machines Inc. are among the leading companies in the APAC hydrogen compressor market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Burckhardt Compression AG had been selected as compressor supplier for a new-built hydrogen liquefaction plant in South Korea. The order includes two BCS API618 compressors for the compression of hydrogen within the liquefaction process.

The report segments the APAC Hydrogen Compressor market as follows:

APAC Hydrogen Compressor Market - By Type

• Oil-based
• Oil-free

APAC Hydrogen Compressor Market - By Stage

• Single-stage
• Multi-stage

APAC Hydrogen Compressor Market - By End-User

• Chemicals
• Oil and Gas
• Automotive and Transportation
• Renewable Energy
• Other End-users

APAC Hydrogen Compressor Market - By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC