Asia Pacific Hydrogen Compressor Market Report 2017-2035 by Scope, Segmentation, Dynamics, and Competitive Analysis

Description

List of Tables

The Asia Pacific hydrogen compressor market is projected to grow significantly, reaching an estimated US$ 1,690.71 million by 2031, up from US$ 843.27 million in 2023. This growth represents a compound annual growth rate (CAGR) of 6.2% from 2024 to 2035.

Executive Summary and Market Analysis

The hydrogen compressor market in the Asia Pacific region is divided into several key countries, including Australia, South Korea, India, China, Japan, Indonesia, Singapore, Taiwan, New Zealand, and Southeast Asia. This region is characterized by rapidly developing economies such as India, China, Thailand, and Vietnam, which benefit from low labor costs, favorable tax conditions, and a growing adoption of advanced technologies. These factors create a conducive environment for global manufacturers to establish and expand their production facilities in the region.

The competition in the Asia Pacific market is intensifying as companies strive to establish bases for green hydrogen production, recognizing its potential as a sustainable energy source. Domestic firms are increasingly collaborating with Western companies on large-scale projects. For instance, in May 2021, Orsted, a Danish offshore wind company, partnered with South Korea's POSCO to explore green hydrogen production through an offshore wind project. Additionally, Western oil companies are making substantial investments in the region; BP, for example, became the largest shareholder in the Asian Renewable Energy Hub (AREH) project in Australia in June 2022, aiming to produce up to 1.6 metric tons of green hydrogen annually.

According to a report from the Hydrogen Council, which includes over 150 multinational companies, the hydrogen demand from China, India, Japan, and South Korea is expected to reach 285 million tonnes by 2050, accounting for 43% of the global total. China, as the largest hydrogen consumer, is actively pursuing leadership in green hydrogen production. The increasing demand for green hydrogen is prompting companies to form strategic partnerships and invest heavily in the emerging green hydrogen sector, thereby driving the growth of the hydrogen compressor market in Asia Pacific.

The oil and gas sector's growth is also expected to enhance both upstream and downstream activities, increasing the demand for hydrogen compressors in these industries. Countries like India, China, and Indonesia are significant contributors to oil and gas production in the region. In 2023, Southeast Asian governments invested US$ 16 billion in new oil and gas projects, further boosting the market.

Market Segmentation

The hydrogen compressor market can be segmented by type, technology, and end-user.

By Type: The market is divided into lubricated and oil-free compressors, with lubricated compressors holding a larger market share in 2023.
By Technology: The market includes reciprocating hydrogen compressors, diaphragm compressors, non-mechanical compressors, and others, with reciprocating compressors leading the market.
By End-User: Key segments include power plants, oil and gas, food and beverages, petrochemical and chemical industries, hydrogen fueling stations, and hydrogen storage solutions, with the petrochemical and chemical sectors dominating in 2023.

Market Outlook

The demand for energy has surged due to rapid urbanization and industrial growth, necessitating the expansion of power transmission networks. The rise in new power projects is driving the deployment of hydrogen compressors. Renewable energy is increasingly vital for electricity generation, with the International Energy Agency (IEA) projecting a global electricity demand growth of 2.1% per year through 2040. Southeast Asia is experiencing some of the fastest growth in electricity demand globally, presenting significant opportunities for the renewable energy sector.

India, as the third-largest electricity producer in the region, is expanding its generating capacity through government support and numerous power generation initiatives. For example, the Khargone Transmission Project aims to connect a major thermal power project to the transmission system serving multiple states. This growth in the energy sector is expected to create substantial opportunities for the hydrogen compressor market.

The renewable energy sector is witnessing increased investments due to government initiatives and funding, which are promoting the adoption of hydrogen compressors. The IEA reported that global investments in renewable energy reached US$ 358 billion in the first half of 2023, marking a 22% increase from the previous year. China led these investments, contributing US$ 177 billion in the first quarter of 2023 alone.

Country Insights

The Asia Pacific hydrogen compressor market is dominated by China, which has emerged as a global manufacturing hub. The country is the largest producer of hydrogen, with a production volume of 33 million tons annually. The Chinese government is actively promoting green hydrogen initiatives, particularly in the steel industry, which is expected to drive demand for hydrogen compressors. By 2030, China's hydrogen demand is projected to reach 35 million tons, significantly impacting the market.

China's manufacturing sector is also expanding, with foreign direct investment in manufacturing increasing by 6.8% in early 2023. The country is investing heavily in electricity generation and infrastructure, further boosting the hydrogen compressor market.

Company Profiles

Key players in the Asia Pacific hydrogen compressor market include Atlas Copco AB, Burckhardt Compression AG, Fluitron, Inc., Gardner Denver Nash, LLC, and others. These companies are focusing on strategies such as expansion, product innovation, and mergers and acquisitions to enhance their market presence and offer innovative solutions to customers.

Product Code: TIPRE00023021

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macroeconomic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country-level data:

4. Asia Pacific Hydrogen Compressors Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Hydrogen Compressor Market: Ecosystem Analysis
- 4.3.1 Hydrogen Compressor Market: List of Hydrogen Compressor Suppliers
4.4 Marketing Channel, Distributors, and Customers
- 4.4.1 Marketing Channel
- 4.4.2 Hydrogen Compressor Market : List of Hydrogen Compressor Distributors
- 4.4.3 Hydrogen Compressor Market : List of Hydrogen Compressor Customers
- 4.4.4 Hydrogen Compressor Market: Price Analysis

5. Asia Pacific Hydrogen Compressors Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Growing Adoption of Hydrogen Fuel Cell Vehicles
- 5.1.2 Increasing Investments across Oil & Gas Sector
- 5.1.3 Increasing Industrial Production Activities
5.2 Market Restraints
- 5.2.1 High Recurring Cost in Maintenance
5.3 Market Opportunities
- 5.3.1 Rising Investments in Renewable Energy and Hydrogen Generation Projects Worldwide
5.4 Future Trends
- 5.4.1 Development of Electrochemical Hydrogen Compressor (EHC)
- 5.4.2 Increasing Shift Toward Green Hydrogen
5.5 Impact of Drivers and Restraints:

6. Hydrogen Compressors Market - Asia Pacific Market Analysis

6.1 Asia Pacific Hydrogen Compressors Market Revenue (US$ Million), 2017-2035
6.2 Asia Pacific Hydrogen Compressors Market Forecast Analysis

7. Asia Pacific Hydrogen Compressors Market Analysis - by Type

7.1 Lubricated
- 7.1.1 Overview
- 7.1.2 Lubricated: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
7.2 Oil-free
- 7.2.1 Overview
- 7.2.2 Oil-free: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)

8. Asia Pacific Hydrogen Compressors Market Analysis - by Technology

8.1 Reciprocating Hydrogen Compressors
- 8.1.1 Overview
- 8.1.2 Reciprocating Hydrogen Compressors: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
8.2 Diaphragm Hydrogen Compressors
- 8.2.1 Overview
- 8.2.2 Diaphragm Hydrogen Compressors: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
8.3 Non-Mechanical Hydrogen Compressor
- 8.3.1 Overview
- 8.3.2 Non-Mechanical Hydrogen Compressor: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
8.4 Others
- 8.4.1 Overview
- 8.4.2 Others: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)

9. Asia Pacific Hydrogen Compressors Market Analysis - by End-user

9.1 Power Plants
- 9.1.1 Overview
- 9.1.2 Power Plants: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
9.2 Oil and Gas
- 9.2.1 Overview
- 9.2.2 Oil and Gas: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
9.3 Food and Beverages
- 9.3.1 Overview
- 9.3.2 Food and Beverages: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
9.4 Petrochemical and Chemical
- 9.4.1 Overview
- 9.4.2 Petrochemical and Chemical: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
9.5 Hydrogen Fueling Station
- 9.5.1 Overview
- 9.5.2 Hydrogen Fueling Station: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
9.6 Hydrogen Storage (Tube Trailers)
- 9.6.1 Overview
- 9.6.2 Hydrogen Storage (Tube Trailers): Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
9.7 Others
- 9.7.1 Overview
- 9.7.2 Others: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)

10. Asia Pacific Hydrogen Compressors Market - Country Analysis

10.1 Asia Pacific
- 10.1.1 Asia Pacific Hydrogen Compressors Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.1 Asia Pacific Hydrogen Compressors Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.2 Australia: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
    - 10.1.1.2.1 Australia: Asia Pacific Hydrogen Compressors Market Share - by Type
    - 10.1.1.2.2 Australia: Asia Pacific Hydrogen Compressors Market Share - by Technology
    - 10.1.1.2.3 Australia: Asia Pacific Hydrogen Compressors Market Share - by End-user
  - 10.1.1.3 China: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
    - 10.1.1.3.1 China: Asia Pacific Hydrogen Compressors Market Share - by Type
    - 10.1.1.3.2 China: Asia Pacific Hydrogen Compressors Market Share - by Technology
    - 10.1.1.3.3 China: Asia Pacific Hydrogen Compressors Market Share - by End-user
  - 10.1.1.4 India: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
    - 10.1.1.4.1 India: Asia Pacific Hydrogen Compressors Market Share - by Type
    - 10.1.1.4.2 India: Asia Pacific Hydrogen Compressors Market Share - by Technology
    - 10.1.1.4.3 India: Asia Pacific Hydrogen Compressors Market Share - by End-user
  - 10.1.1.5 Japan: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
    - 10.1.1.5.1 Japan: Asia Pacific Hydrogen Compressors Market Share - by Type
    - 10.1.1.5.2 Japan: Asia Pacific Hydrogen Compressors Market Share - by Technology
    - 10.1.1.5.3 Japan: Asia Pacific Hydrogen Compressors Market Share - by End-user
  - 10.1.1.6 South Korea: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
    - 10.1.1.6.1 South Korea: Asia Pacific Hydrogen Compressors Market Share - by Type
    - 10.1.1.6.2 South Korea: Asia Pacific Hydrogen Compressors Market Share - by Technology
    - 10.1.1.6.3 South Korea: Asia Pacific Hydrogen Compressors Market Share - by End-user
  - 10.1.1.7 Indonesia: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
    - 10.1.1.7.1 Indonesia: Asia Pacific Hydrogen Compressors Market Share - by Type
    - 10.1.1.7.2 Indonesia: Asia Pacific Hydrogen Compressors Market Share - by Technology
    - 10.1.1.7.3 Indonesia: Asia Pacific Hydrogen Compressors Market Share - by End-user
  - 10.1.1.8 Singapore: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
    - 10.1.1.8.1 Singapore: Asia Pacific Hydrogen Compressors Market Share - by Type
    - 10.1.1.8.2 Singapore: Asia Pacific Hydrogen Compressors Market Share - by Technology
    - 10.1.1.8.3 Singapore: Asia Pacific Hydrogen Compressors Market Share - by End-user
  - 10.1.1.9 Taiwan: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
    - 10.1.1.9.1 Taiwan: Asia Pacific Hydrogen Compressors Market Share - by Type
    - 10.1.1.9.2 Taiwan: Asia Pacific Hydrogen Compressors Market Share - by Technology
    - 10.1.1.9.3 Taiwan: Asia Pacific Hydrogen Compressors Market Share - by End-user
  - 10.1.1.10 New Zealand: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
    - 10.1.1.10.1 New Zealand: Asia Pacific Hydrogen Compressors Market Share - by Type
    - 10.1.1.10.2 New Zealand: Asia Pacific Hydrogen Compressors Market Share - by Technology
    - 10.1.1.10.3 New Zealand: Asia Pacific Hydrogen Compressors Market Share - by End-user
  - 10.1.1.11 Rest of Southeast Asia: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
    - 10.1.1.11.1 Rest of Southeast Asia: Asia Pacific Hydrogen Compressors Market Share - by Type
    - 10.1.1.11.2 Rest of Southeast Asia: Asia Pacific Hydrogen Compressors Market Share - by Technology
    - 10.1.1.11.3 Rest of Southeast Asia: Asia Pacific Hydrogen Compressors Market Share - by End-user
  - 10.1.1.12 Rest of APAC: Asia Pacific Hydrogen Compressors Market - Revenue and Forecast, 2017-2035 (US$ Million)
    - 10.1.1.12.1 Rest of APAC: Asia Pacific Hydrogen Compressors Market Share - by Type
    - 10.1.1.12.2 Rest of APAC: Asia Pacific Hydrogen Compressors Market Share - by Technology
    - 10.1.1.12.3 Rest of APAC: Asia Pacific Hydrogen Compressors Market Share - by End-user

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions

13. Company Profiles

13.1 Atlas Copco AB
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Burckhardt Compression AG
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Fluitron, Inc.
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Gardner Denver Nash, LLC
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Howden Group
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 HAUG Sauer Kompressoren AG
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 NEUMAN & ESSER GROUP
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Hydro-Pac, Inc.
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Lenhardt & Wagner GmbH
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 PDC Machines Inc.
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
13.11 Sundyne
- 13.11.1 Key Facts
- 13.11.2 Business Description
- 13.11.3 Products and Services
- 13.11.4 Financial Overview
- 13.11.5 SWOT Analysis
- 13.11.6 Key Developments
13.12 Ariel Corporation
- 13.12.1 Key Facts
- 13.12.2 Business Description
- 13.12.3 Products and Services
- 13.12.4 Financial Overview
- 13.12.5 SWOT Analysis
- 13.12.6 Key Developments

14. Appendix

14.1 About The Insight Partners