At 4.0% CAGR, South & Central America Hydrogen Compressor Market is Projected to be Worth US$ 147.30 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America hydrogen compressor market was valued at US$ 107.89 million in 2022 and is expected to reach US$ 147.30 million by 2030, registering a CAGR of 4.0% from 2022 to 2030. Development of electrochemical hydrogen compressor (EHC) and increasing industrial production activities are among the critical factors attributed to drive the South & Central America hearing market growth.

The electromechanical hydrogen compressors are presently in the research and development stage and electrochemical reactions, ionic liquids, and metal hydrides. The electrochemical compressors have the application of proton exchange membranes lined by electrodes and a peripheral power source to lead the recombination at higher pressures at the cathode and dissociation of hydrogen at the anode. The development of an electrochemical hydrogen compressor (EHC) is necessary to tackle the critical requirements of higher efficiency, lower cost, and improved durability. For instance, HyET Group offers electrochemical hydrogen compression technology, which is exclusively designed to operate the compression and purification step utilizing one piece of equipment. This results in a compact, energy-efficient, and cost-effective electromechanical hydrogen compressor. This technology minimizes downtime, as electrochemical compression stacks are static equipment, and hence, they do not have the wear and tear issue. Furthermore, the modular design of EHC systems facilitates concurrent operation in case one of the compressor stacks requires maintenance or inspection after some period. Also, in September 2023, Atlas Copco launched an H2P hydrogen compressor that is capable of electrochemical electrolysis production. The company introduced speed-controlled technologies to compensate for fluctuations in hydrogen production and ensure optimal efficiency by reducing energy losses. These unique technologies launched by the key players are contributing to future growth in the South & Central America hydrogen compressor market.

On the contrary, the high recurring cost in maintenance hampers the growth of South & Central America hydrogen compressor market.

Based on type, the South & Central America hydrogen compressor market is bifurcated into oil-based and oil-free. The oil-based segment held 65.1% market share in 2022, amassing US$ 70.88 million. It is projected to garner US$ 93.89 million by 2030 to register 3.6% CAGR during 2022-2030.

In terms of stage, the South & Central America hydrogen compressor market is bifurcated into single-stage and multi-stage. The multi-stage segment held 62.1% share of South & Central America hydrogen compressor market in 2022, amassing US$ 65.40 million. It is anticipated to garner US$ 91.17 million by 2030 to expand at 4.2% CAGR during 2022-2030.

By end user, the South & Central America hydrogen compressor market is segmented into chemicals, oil and gas, automotive and transportation, renewable energy, refueling station, and others. The oil and gas segment held 38.1% share of South & Central America hydrogen compressor market in 2022, amassing US$ 41.15 million. It is projected to garner US$ 51.75 million by 2030 to expand at 2.9% CAGR from 2022 to 2030.

By country, the South & Central America hydrogen compressor market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 52.1% share of South & Central America hydrogen compressor market in 2022. It was assessed at US$ 56.24 million in 2022 and is likely to hit US$ 76.74 million by 2030, registering a CAGR of 4.0% during 2022-2030.

Key players operating in the South & Central America hydrogen compressor market are Atlas Copco AB; Burckhardt Compression AG; Gardner Denver Nash, LLC; HAUG Sauer Kompressoren AG; Howden Group; and NEUMAN & ESSER GROUP, among others.


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