Middle East and Africa Hydrogen Compressor Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Stage, and End-User

Oil-Free Segment is expected to be the fastest growing during the forecast period for MEA Hydrogen Compressor Market.

According to a new market research study on “MEA Hydrogen Compressor Market to 2028 - COVID-19 Impact and Analysis and Forecast by: Type, Stage and End -User,” is expected to reach US$ 193.92 million by 2028 from US$ 147.32 million in 2021. The market is estimated to grow at a CAGR of 4% from 2021 to 2028. The report provides trends prevailing in the MEA hydrogen compressor market along with the drivers and restraints pertaining to the market growth. Progress of electrochemical hydrogen compressor (EHC) is the major factor driving the growth of the MEA hydrogen compressor market. However, issues associated with the high repetitive cost in maintenance hinder the growth of MEA hydrogen compressor market.

The MEA 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.

The MEA includes South Africa, the UAE, and Saudi Arabia among other countries. South Africa has recorded the highest number of COVID-19 cases in the MEA, followed by Saudi Arabia and the UAE. The MEA has a smaller number of companies operating or offering market-specific solutions. According to the Institute of Chartered Accountants in England and Wales (ICAEW), the Middle Eastern economy is anticipated to witness a sharp slowdown in the first half of 2020, regardless of impetus packages as well as monetary rate cuts to relax the economic setback of the COVID outbreak. The COVID-19 pandemic is expected to have a greater impact on this region as countries with oil-based economies in this region are already under pressure due to falling oil prices. In addition, factory and business shutdowns, and travel bans are further aggravating the economic problems of the countries in the MEA. Hence, the estimated decline in MEA’s economic condition and impact of COVID-19 on growth of various industries in the region hindered the growth of hydrogen compressor market in 2020, which is likely to continue in 2021 as well. Further, the Middle Eastern economies are projected to pick up in the second half of 2021, after the normalization of both demand and supply sides.

Atlas Copco AB; Burckhardt Compression AG; Fluitron, Inc.; Gardner Denver Nash, LLC; Howden Group; Lenhardt & Wagner GmbH; NEUMAN & ESSER GROUP; and PDC Machines Inc. are among the leading companies in the MEA 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, Howden Group has been selected to deliver a hydrogen compression solution for Everfuel’s green hydrogen production facility, HySynergy in Denmark. The reliability, efficiency, and safety delivered by Howden’s compression solution enable Everfuel’s goal to provide Denmark with green hydrogen in a safe and controlled manner.

The report segments the MEA Hydrogen Compressor market as follows:

MEA Hydrogen Compressor Market - By Type

• Oil-based
• Oil-free

MEA Hydrogen Compressor Market - By Stage

• Single-stage
• Multi-stage

MEA Hydrogen Compressor Market - By End-user

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

MEA Hydrogen Compressor Market - By Country

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA Hydrogen Compressor Market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the MEA Hydrogen Compressor market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth MEA market trends and outlook coupled with the factors driving Hydrogen Compressor market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution