Performance of power range segments in the global hydrogen compressor market

The global hydrogen compressor market is expected to grow at a CAGR of 4.73% during the forecast period. Based on the power range the global hydrogen compressor market has been segmented into below 100 hp, 101 hp — 200 hp, and 201 hp and above.

The hydrogen compressors with a power range below 100 hp dominated the global hydrogen compressor market in 2018. This type of hydrogen compressor is used in hydrogen production plants and refueling stations. Most of the small hydrogen production plants that are in the flow range of 30 SCFM-400 SCFM require hydrogen compressors with a power range below 40 hp. The vendors in the market provide both oil-based and oil-fee compressors with a power range below 100 hp as standardized products.

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A key factor that drives the growth of this segment is the rising number of on-site hydrogen production plants in the oil and gas and chemical industries. In these industries, hydrogen gas is used for several applications, including refining and as a raw material in the chemical industry. Since hydrogen is a major feedstock in these industries, on-site production provides economies of scale and reduces the overall operational expenditure. Such benefits are expected to augment the growth of this segment of the global hydrogen compressor market during the forecast period.