North America 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-Based Segment to Dominate North America Hydrogen Compressor Market during 2021-2028.





According to this research study titled “North America 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$ 757.21 million by 2028 from US$ 527.84 million in 2021. The market is estimated to grow at a CAGR of 5.3% from 2021 to 2028. The report provides trends prevailing in the North America hydrogen compressor market along with the drivers and restraints pertaining to the market growth. Rising adoption of hydrogen fuel cell vehicles is the major factor driving the growth of the North America hydrogen compressor market. However, issues associated with the elevated recurring cost in maintenance hinder the growth of North America hydrogen compressor market.

The North America 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.

North American countries suffered a huge loss in the first half of 2020 owing to the rapid rise in number of COVID-19 cases, specifically in the US. Thus, the hydrogen compressor decreased slightly in 2020. This can be mainly attributed to lockdown imposed by various state governments and low demand from chemical, oil and gas, and renewable energy industries. The similar growth pattern is likely to continue in 2021 as well. The COVID-19 has already impacted the sales of electronics equipment and hydrogen compressor in the year 2020 manner, as companies had to be functional with limited workforce and they are now trying to cope up with the losses they faced in the year 2020. Furthermore, municipalities are functioning slowly as compared to the past and the renewable energy projects are at halt, which are further limiting the hydrogen compressor market growth in North America.

Atlas Copco AB; Burckhardt Compression AG; Fluitron, Inc.; Gardner Denver Nash, LLC; Howden Group; Hydro-Pac, Inc.; Lenhardt & Wagner GmbH; NEUMAN & ESSER GROUP; and PDC Machines Inc. are among the leading companies in the North America 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 North America Hydrogen Compressor market as follows:

North America Hydrogen Compressor Market - By Type

• Oil-based
• Oil-free

North America Hydrogen Compressor Market - By Stage

• Single-stage
• Multi-stage

North America Hydrogen Compressor Market - By End-User

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

North America Hydrogen Compressor Market - By Country

• US
• Canada
• Mexico