Segments - Hydrogen Centrifugal Compressors Market by Compressor Split Type (Horizontally Split (H-type), Vertically Split (V-type)), Compress Level (Single Stage, Multi-stage, (Single-shaft Multi-stage (In-Line), Multi-shaft Multi-stage (Integrally Geared))), Flow Rate (Upto 1000 Am3 / h, 1000 - 10000 Am3 / h, More Than 10000 Am3 / h), Discharge Pressure (Less Than 10 barA, 10 - 100 barA, More Than 100 barA), By Motor Power (Upto 1000 kW, 1000 - 5000 kW, 5000 - 10000 kW, More Than 10000 kW), End-use Application (Power Generation, Chemicals & Petrochemical (Oil Refineries, Ammonia & Byproduct Synthesis, Methanol Synthesis, Synthetic Fuels), Steel Making, Hydrogen Refueling Station(HRS)), and Region (Americas, Europe, Asia Pacific, And the Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends and, Forecast 2023 – 2031
The Global Hydrogen Centrifugal Compressors Market was valued at USD 645.89 Million in 2022 and is projected to reach USD 1,509.44 Million by 2031, expanding at a CAGR of 10.3% during the forecast period. Hydrogen is an important gas in various industries, such as energy, transportation, and manufacturing. It is considered eco-friendly and can be derived from renewable sources like wind, solar, and hydroelectric energy. Due to its low density, hydrogen needs compression for efficient transportation and storage. This is where hydrogen centrifugal compressors come in handy.
Hydrogen centrifugal compressors are mechanical devices that can increase the pressure of hydrogen gas. They work on the principle of centrifugal force generated by high-speed impellers. These impellers are attached to a shaft and driven by an electric motor. The gas enters the compressor through an inlet and then accelerates through the impellers, which increases its velocity. As the gas moves through the compressor, its velocity is converted into pressure, resulting in compressed hydrogen gas at the outlet.
The impeller is the main part of a centrifugal compressor. When the impeller rotates at high speeds, it creates a fast-moving stream of hydrogen gas. This kinetic energy is then converted into pressure by a diffuser. The diffuser slows down the gas, turning its kinetic energy into potential energy (pressure). The compressed hydrogen gas leaves the compressor at a higher pressure than the inlet.
Hydrogen centrifugal compressors have a compact and lightweight design because of their high-speed impellers. They are designed to work at high temperatures and pressures and are typically made of high-strength materials that are resistant to hydrogen embrittlement and corrosion. These compressors are used in various industrial applications such as power generation, chemical processing, and fuel cell vehicles. They are crucial components in many hydrogen-based systems, and their reliable operation is vital for the safe and efficient functioning of such systems with minimal maintenance requirements.
Compressors are crucial in the hydrogen gas storage, transportation, or distribution system. Centrifugal compressor technology and materials have created new opportunities for hydrogen transportation. Conventional compressors are limited due to the low molecular weight of hydrogen. Siemens Energy has developed a counter-rotating axial compressor design that significantly enhances each stage's ability to perform work on the fluid being compressed. These technological advancements provide growth opportunities for the market.
Hydrogen compressors are crucial components as the global shift toward clean energy sources gains momentum. They facilitate hydrogen utilization in various industries, playing a pivotal role in the hydrogen economy. The demand for hydrogen has tripled since 1975, finding applications across industries. By 2050, global hydrogen demand is expected to constitute 73% to 100% of the total demand, growing to 500–680 million metric tons.
Two common compression technologies used in transmission pipelines are centrifugal and reciprocating compressors. Centrifugal compressors are preferred for high flow rates, medium pressure ratios, and limited flow variation. Reciprocating compressors are used for low flow rates, high pressure ratios, and variable pipeline conditions. Reciprocating compressors are a proven solution for compressing hydrogen and are commonly used in refineries for their flexibility in handling gases with different molecular weights. However, they pose a significant threat to the growth of the hydrogen centrifugal compressor market.
Several countries are focusing on developing hydrogen technologies, creating growth opportunities for the hydrogen centrifugal compressors market. China, Europe, India, Japan, South Korea, and the US are implementing policies to facilitate the proliferation of clean hydrogen value chains. The World Bank is supporting governments in identifying investment opportunities to scale up green hydrogen for a low-carbon economy. These initiatives hold potential for centrifugal compressors as an essential technology for hydrogen production.
The report on the Global Hydrogen Centrifugal Compressors Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Hydrogen Centrifugal Compressors Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Global Hydrogen Centrifugal Compressors Market by Compressor Split Type (Horizontally Split (H-type), Vertically Split (V-type)), by Compress Level (Single Stage, Multi-stage, (Single-shaft Multi-stage (In-Line), Multi-shaft Multi-stage (Integrally Geared))), Flow Rate (Upto 1000 Am3 / h, 1000 - 10000 Am3 / h, More Than 10000 Am3 / h), Discharge Pressure (Less Than 10 barA, 10 - 100 barA, More Than 100 barA), Motor Power (Upto 1000 kW, 1000 - 5000 kW, 5000 - 10000 kW, More Than 10000 kW), End-use Application (Power Generation, Chemicals & Petrochemical (Oil Refineries, Ammonia & Byproduct Synthesis, Methanol Synthesis, Synthetic Fuels), Steel Making, Hydrogen Refueling Station(HRS)), and Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
SIEMENS ENERGY, Hitachi Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD., Atlas Copco AB, Johnson Controls, BAKER HUGHES COMPANY, Elliott Group, BORSIG GmbH, Sundyne, and Shanghai Xinran Compressor Company |
The global Hydrogen Centrifugal Compressors market is segmented based on Compressor Split Type, Compress Level, Flow Rate, Discharge Pressure, Motor Power, End-use Application, and Region.
Based on the Compressor Split Type, the market is bifurcated into Horizontally Split (H-type) and Vertically Split (V-type). The horizontally split (H-type) segment held 56.6% market share in 2022. This type of compressor is an efficient and reliable compressor that is widely used in the hydrogen industry. Its design allows for easy maintenance and repair, while its safety features ensure that it operates safely and reliably at all times, contributing to segment growth.
Based on the Compress Level, the market is categorized as Single Stage and Multi-stage. The multi-stage segment is further divided into single-shaft multi-stage (in-line) and multi-shaft multi-stage (integrally geared).
The multi-stage segment is expected to hold XX.X% market share in 2031. The following trends highlight the unique advantages of multi-stage hydrogen centrifugal compressors, including improved efficiency, precision control, predictive maintenance capabilities, and increased reliability and durability. Additionally, the wide range of applications and industries that require these compressors makes them a key component in the growing demand for hydrogen as a clean energy source and industrial feedstock.
In terms of Flow Rate, the global Hydrogen Centrifugal Compressors market is segmented into Upto 1000 Am3 / h, 1000 - 10000 Am3 / h, and More Than 10000 Am3 / h.
The more than 10000 Am3/h segment held XX.X% market share in 2022. The high flow rates of these compressors make them suitable for applications that require significant volumes of compressed hydrogen gas, catering to the increasing demand for hydrogen in various industries and energy systems.
In terms of Discharge Pressure, the market is segmented into Less Than 10 barA, 10 - 100 barA, and more than 100 barA.
In 2022, hydrogen centrifugal compressors that provide discharge pressures higher than 100 barA held a market share of XX.X%. These compressors are known for their compact and lightweight design, which makes them easily portable. They are suitable for laboratory experiments, research facilities, and small-scale hydrogen systems that require low to medium flow rates. The number of hydrogen refueling stations (HRS) has increased significantly since the end of 2021, with a total of 975 stations by June 2022 compared to 700 stations at the end of 2021.
In terms of Motor Power, the market is categorized as Upto 1000 kW, 1000 - 5000 kW, 5000 - 10000 kW, and More Than 10000 kW.
In 2022, the segment requiring compressors with motor power exceeding 10000 kW held XX.X% market share. Two main factors were responsible for this: large-scale industrial applications and hydrogen pipeline transportation. The compressors used in these applications provide high-volume and high-pressure compression, ensuring efficient hydrogen transportation over long distances.
Based on end-use applications, the hydrogen centrifugal compressors market is categorized as power generation, chemicals and petrochemicals, steel making, and hydrogen refueling stations (HRS).
The chemicals & petrochemicals segment is expected to hold XX.X% market share in 2031. This is attributed to centrifugal compressors being the preferred choice for hydrogen compression, thanks to their high efficiency and reliability. These compressors are capable of handling large volumes of gas and achieving high compression ratios, making them ideal for the demanding needs of the chemicals and petrochemicals industry. The use of hydrogen centrifugal compressors in this industry is driven by the need to safely and efficiently handle and utilize hydrogen gas in various chemical processes. The technical design and features of these compressors are aimed at ensuring efficient, safe, and reliable compression of hydrogen gas in the chemical and petrochemical industry. They play a crucial role in the production and utilization of hydrogen in various chemical processes, contributing to the overall efficiency and productivity of the industry.
On the basis of region, the Hydrogen Centrifugal Compressors market is divided into Noth America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The European steel-making industry is projected to expand at a Compound Annual Growth Rate (CAGR) of XX.X% during the forecast period. Hydrogen centrifugal compressors are increasingly being adopted in this industry, as hydrogen is a crucial component in the reduction process for steel manufacturing. It replaces carbon-based reducing agents that are responsible for high carbon emissions, making it a more sustainable option. These compressors play a critical role in ensuring the safe and efficient transportation of hydrogen within steel manufacturing plants, for various applications. As a result, hydrogen-based technologies are emerging as a sustainable energy source that meets the growing demands of the steel-making industry in Europe.
Similarly, the market in the Asia Pacific region is also projected to expand at a CAGR of XX.X% during the forecast period. Hydrogen centrifugal compressors are gaining popularity for ammonia production in the region. Ammonia plays a vital role in decarbonization and is a versatile carrier of clean hydrogen. Green and blue ammonia contribute to emissions reduction. By efficiently compressing hydrogen and handling ammonia synthesis, centrifugal compressors lead to cost savings in ammonia plants.
In-depth Analysis of the Global Hydrogen Centrifugal Compressors Market
Historical, Current, and Projected Market Size in terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Hydrogen Centrifugal Compressors Market Performance
Key players operating in the market are SIEMENS ENERGY, Hitachi Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD., Atlas Copco AB, Johnson Controls, BAKER HUGHES COMPANY, Elliott Group, BORSIG GmbH, Sundyne, and Shanghai Xinran Compressor Company.
Players are adopting key strategies such as acquisitions, collaborations, and geographical expansion for potential opportunities in the Hydrogen Centrifugal Compressors market.
The base year considered for the global Hydrogen Centrifugal Compressors market report is 2022. The complete analysis period is 2016 to 2031, wherein, 2016 to 2021 are the historic years, and the forecast is provided from 2023 to 2031.
SIEMENS ENERGY, Hitachi Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD., Atlas Copco AB, Johnson Controls, BAKER HUGHES COMPANY, Elliott Group, BORSIG GmbH, Sundyne, and Shanghai Xinran Compressor Company.
Factors such as Circular Economy, Inflation, Hydrogen Import-Export Partnerships, and Industrial Production are analyzed in the final report.
According to this Growth Market Reports report, the global Hydrogen Centrifugal Compressors market is expected to register a CAGR of 10.3% during the forecast period, 2023-2031, with an anticipated valuation of USD 1,509.44 million by the end of 2031.
The global Hydrogen Centrifugal Compressors market is projected to expand at a rapid pace globally, owing to Rising Demand for Hydrogen from Various End-use Industries, Enforcement of Stringent Greenhouse Gas Emissions Regulations, and Advancements in Compression Technology for Hydrogen Production, and others.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
Additional company profiles are provided on request. For a discussion related to the above findings, click Speak to Analyst