North America Hydrogen Compressor Market Market to Grow at a CAGR of 5.3% to reach US$ 643.6 Million from 2021 to 2028

North America Hydrogen Compressor Market Forecast to 2028 – COVID-19 Impact and Regional Analysis by Type (Oil-Based and Oil-Free), Stage (Single-Stage and Multi-Stage), End User (Chemicals, Oil & Gas, Automotive & Transportation, Renewable Energy, and Others), Discharge Pressure Range (Less than 13000 PSIG, 13001 PSIG to 14000 PSIG, and More than 14000 PSIG), Power Range (Less than 1 MW, 1 MW to 5 MW, 5 MW to 10 MW and More than 10 MW), Application (H2 Liquid, H2 Pipeline, H2 for Industry/Ammonia, H2 Storage, H2 Trailer/Cylinder Filling, H2 Large Fuel Station, and H2 Small Fuel Station), and Compressor Type (Reciprocating and Diaphragm Compressors and Piston Ring Compressors)

  • Report Code : TIPRE00023020
  • Category : Energy and Power
  • Status : Published
  • No. of Pages : 169
Buy Now

North America Hydrogen Compressor Market Market to Grow at a CAGR of 5.3% to reach US$ 643.6 Million from 2021 to 2028

Buy Now

The hydrogen compressor market was valued at US$ 448.7 million in 2021 and is projected to reach US$ 643.6 million by 2028; it is expected to grow at a CAGR of 5.3% from 2021 to 2028.

Due to expanding regional demand for distillate fuel oil and severe sulfur content standards, the demand for hydrogen is increasing across the refining industry. The need for hydrogen compressors has increased as their use has grown in refining processes. Oil-based compressors are more efficient than oil-free compressors because oil acts as a cooling medium, removing around 80% of the heat created by the compressor during compression. Therefore, there has been a major increase in the need for oil-based compressors in recent years. As a result, this factor is likely to have a significant impact on the hydrogen compressor market growth during the forecast period. Increasing need for hydrogen from the refining industry and the growing emphasis on using clean hydrogen propel the demand for hydrogen compressors.

In January 2021, the US Department of Energy's (DOE) Office of Fossil Energy (FE) announced plans to allocate US$ 160 million in federal funds to help recalibrate the country's extensive fossil fuel and power infrastructure for decarbonized energy and commodity production. The funding for cost-shared cooperative agreements was targeted at developing technology for the generation, transportation, storage, and use of fossil-based hydrogen, to achieve net-zero carbon emissions. The funds will be used to support various research initiatives focusing on hydrogen compressor innovation.

Based on type, the North America hydrogen compressor market is bifurcated into oil-based and oil-free. Based on stage, the North America hydrogen compressor market is bifurcated into single-stage and multi-stage. Based on end user, the North America hydrogen compressor market is segmented into chemicals, oil and gas, automotive and transportation, renewable energy, and others. Based on discharge pressure range, the North America hydrogen compressor market is segmented into less than 13000 psig, 13001 psig–14000 psig, and more than 14000 psig. Based on power range, the North America hydrogen compressor market is segmented into less than 1 MW, 1 MW to 5 MW, 5 MW to 10 MW, and  more than 10 MW. Based on application, the North America hydrogen compressor market is segmented into H2 liquid, H2 pipeline, H2 for industry/ammonia, H2 storage, H2 trailer/cylinder filling, H2 large fuel station, and H2 small fuel station. Based on compressor type, the North America hydrogen compressor market is segmented into reciprocating and diaphragm compressors and piston ring compressors.

Impact of COVID-19 Pandemic on hydrogen compressor market

The COVID-19 pandemic is wreaking havoc on energy networks across North America, stifling investment and slowing the spread of crucial clean energy technology. Prior to the crisis, clean energy technology progress had been promising but uneven. According to the International Energy Agency annual Tracking Clean Energy Progress report, only 6 out of 46 technologies and sectors were "on pace" to reach long-term sustainability goals in 2019. In addition, prior to the COVID-19 pandemic, low-carbon versions of hydrogen had acquired extraordinary traction. The deployment of hydrogen-producing electrolyzers was predicted to set new milestones in the following years.

Moreover, numerous projects using Carbon capture, utilisation and storage to manufacture hydrogen from fossil fuels are in the works or have declared plans to begin operations in the early 2020s. The global economic slump, supply chain interruptions, and lower capital spending by firms, which may also prioritize other business sectors, may jeopardize these projects and potential advancements. These obstacles could hinder the demonstration of critical end-use technologies required for hydrogen's inclusion into the economy.

Lucrative Regions for hydrogen compressor market

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Market Insights– hydrogen compressor market

Growing Oil & Gas Industry in North America

Major countries in North America, such as the US, Canada, and Mexico, have a huge oil & gas industry. The growing investments in the oil & gas industry boost the development of hydrogen compressors. As of January 2019, the US had 130 operational petroleum refineries, while Canada had 14 refineries and two asphalt refineries. In addition, enterprises in the region are striving to increase the production of green energy fuels. For instance, Pemex, Mexico's national oil business operating six petroleum refineries, revealed its plans to build a massive oil refinery in May 2019. Furthermore, the company aided natural gas production in the US by increasing its export business of LNG capacity and expanding its power to influence new markets. As a result, the growing oil & gas industry necessitates efficient energy storage anytime it is needed.

Furthermore, North America, notably the US, has historically been the most significant market for oil & gas. Also, drilling activity is expected to increase in the coming years across the region. The increasing government investments in oil & gas projects in the region propel the demand for hydrogen compressors integrated with energy storage systems. Several active oil & gas projects in North America also boost the growth of the hydrogen compressors market in the region.

Type-Based hydrogen compressor market Insights

Based on type, the North America hydrogen compressor market is bifurcated into oil-based and oil-free. Oil-based hydrogen compressors are likely to dominate the market over the forecast period, owing to their cheaper cost, longer life, and higher efficiency, making them ideal for use in various sectors.

Stage-Based hydrogen compressor market Insights

Based on stage, the North America hydrogen compressor market is bifurcated into single-stage and multi-stage. The number of times air is compressed between the inlet valve and the tool nozzle is the fundamental difference between single-stage and multi-stage compressors. A single-stage compressor compresses the air once; a multi-stage compressor compresses the air many times for double the pressure.

End User-Based hydrogen compressor market Insights

Based on end user, the North America hydrogen compressor market is segmented into chemicals, oil and gas, automotive and transportation, renewable energy, and others. The oil and gas industry uses technologically advanced devices and solutions to optimize product quality and quantity. Hydrogen is also used in the chemical sector to produce methanol and ammonia. Methanol and ammonia account for more than half of all hydrogen consumed worldwide. Chemicals are produced in large quantities throughout North America. Furthermore, large investments in developing new hydrogen plants are projected in North America, which is expected to drive the market throughout the projection period.

Discharge Pressure Range-Based hydrogen compressor market Insights

Based on discharge pressure range, the North America hydrogen compressor market is less than 13000 psig, 13001 psig–14000 psig, and more than 14000 psig. The lightest gas in the universe is hydrogen. Under normal atmospheric pressure, one liter of this gas weighs only 90 mg, making it 11 times lighter than air.

Power Range-Based hydrogen compressor market Insights

Based on power range, the North America hydrogen compressor market is segmented into less than 1 MW, 1 MW to 5 MW, 5 MW to 10 MW, and more than 10 MW. The less than 1 MW segment is dominating the market due to wide-range adoption in end-user industries and small-scale projects.

Application-Based hydrogen compressor market Insights

Based on application, the North America hydrogen compressor market is segmented into H2 liquid, H2 pipeline, H2 for industry/ammonia, H2 storage, H2 trailer/cylinder filling, H2 large fuel station, and H2 small fuel station. Industrial trucks (for instance, forklifts) and passenger cars powered by hydrogen fuel cells are finding new markets. Indoor and outdoor hydrogen filling stations are being created to support these vehicles. A fuel cell is a device that produces electricity by combining hydrogen and oxygen from the air in an electrochemical reaction. It may power an electric motor and propel a vehicle.

Compressor Type-Based hydrogen compressor market Insights

Based on compressor type, the North America hydrogen compressor market is segmented into diaphragm compressors and piston compressors. Hydrogen is climbing to the top of the energy industry's quest for clean, long-term solutions.

Players operating in the market are mainly focused on developing advanced and efficient products.

  • In January 2021, Burckhardt Compression AG entered into a partnership with Shell New Energies. The partnership is formed for the development of heavy-duty hydrogen refueling compressor systems. In accordance with this, Burckhardt Compression AG planned to develop a new facility at Winterthur, Switzerland, dedicated to heavy-duty hydrogen refueling compressor systems.
  • In April 2021, PDC Machines and its partner Ivys Energy Solutions announced a collaboration with ENGV. The collaboration was established to deliver fuel fast at the CSIRO's Victorian hydrogen hub in Melbourne. ENGV will provide integration, installation, and operational services for the station in Melbourne.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Stage, End User, Discharge Pressure Range, Power Range, Application, and Compressor Type

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Canada, Mexico, United States

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 North America Hydrogen Compressor Market – By Type

1.3.2 North America Hydrogen Compressor Market – By Stage

1.3.3 North America Hydrogen Compressor Market – By End-User

1.3.4 North America Hydrogen Compressor Market – By Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. North America Hydrogen Compressor Market Landscape

4.1 Market Overview

4.2 North America PEST Analysis

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. North America Hydrogen Compressor Market – Key Industry Dynamics

5.1 Key Market Drivers

5.1.1 Rising Adoption of Hydrogen Fuel Cell Vehicles

5.1.2 Flourishing Oil and gas Sector

5.2 Key Market Restraints

5.2.1 Elevated Recurring Cost in Maintenance

5.3 Key Market Opportunities

5.3.1 Growing Investments in New Energy & Power Projects Worldwide

5.4 Future Trends

5.4.1 Advancements of Electrochemical Hydrogen Compressor (EHC)

5.5 Impact Analysis of Drivers and Restraints

6. Hydrogen Compressor Market – North America Market Analysis

6.1 North America Hydrogen Compressor Market Overview

6.2 North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

7. Hydrogen Compressor Market Analysis – By Type

7.1 Overview

7.2 North America Hydrogen Compressor Market Breakdown, By Type (2020 and 2028)

7.3 Oil-Based

7.3.1 Overview

7.3.2 Oil-Based: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

7.4 Oil-Free

7.4.1 Overview

7.4.2 Oil-Free: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

8. North America Hydrogen Compressor Market Analysis– By Stage

8.1 Overview

8.2 North America Hydrogen Compressor Market Breakdown, By Stage (2020 and 2028)

8.3 Single-Stage

8.3.1 Overview

8.3.2 Single-Stage: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

8.4 Multi-Stage

8.4.1 Overview

8.4.2 Multi-Stage: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

9. North America Hydrogen Compressor Market Analysis – By End-user

9.1 Overview

9.2 North America Hydrogen Compressor Market, By End-user (2020 and 2028)

9.3 Chemicals

9.3.1 Overview

9.3.2 Chemicals: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

9.4 Oil and Gas

9.4.1 Overview

9.4.2 Oil and Gas: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

9.5 Automotive and Transportation

9.5.1 Overview

9.5.2 Automotive and Transportation: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

9.6 Renewable Energy

9.6.1 Overview

9.6.2 Renewable Energy: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

9.7 Other End-users

9.7.1 Overview

9.7.2 Other End-users: North America Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

10. North America Hydrogen Compressor Market – Country Analysis

10.1 Overview

10.1.1 North America: Hydrogen Compressor Market, by Key Country

10.1.1.1 US: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1 US: Hydrogen Compressor Market, by Type

10.1.1.1.2 US: Hydrogen Compressor Market, by Stage

10.1.1.1.3 US: Hydrogen Compressor Market, by End-Users

10.1.1.2 Canada: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1 Canada: Hydrogen Compressor Market, by Type

10.1.1.2.2 Canada: Hydrogen Compressor Market, by Stage

10.1.1.2.3 Canada: Hydrogen Compressor Market, by End-Users

10.1.1.3 Mexico: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.3.1 Mexico: Hydrogen Compressor Market, by Type

10.1.1.3.2 Mexico: Hydrogen Compressor Market, by Stage

10.1.1.3.3 Mexico: Hydrogen Compressor Market, by End-Users

11. North America Hydrogen Compressor Market- COVID-19 Impact Analysis

11.1 Overview

12. Industry Landscape

12.1 Overview

12.2 Market Initiative

12.3 New Product Development

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 NEUMAN & ESSER GROUP

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 Hydro-Pac, Inc.

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 Lenhardt & Wagner GmbH

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 PDC Machines Inc.

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

14. Appendix

14.1 About The Insight Partners

14.2 Word Index

LIST OF TABLES

Table 1. North America Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)

Table 2. North America Hydrogen Compressor Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 3. US: Hydrogen Compressor Market, by Type –Revenue and Forecast to 2028 (US$ Million)

Table 4. US: Hydrogen Compressor Market, by Stage –Revenue and Forecast to 2028 (US$ Million)

Table 5. US: Hydrogen Compressor Market, by End-Users –Revenue and Forecast to 2028 (US$ Million)

Table 6. Canada: Hydrogen Compressor Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 7. Canada: Hydrogen Compressor Market, by Stage – Revenue and Forecast to 2028 (US$ Million)

Table 8. Canada: Hydrogen Compressor Market, by End-Users –Revenue and Forecast to 2028 (Canada$ Million)

Table 9. Mexico: Hydrogen Compressor Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 10. Mexico: Hydrogen Compressor Market, by Stage – Revenue and Forecast to 2028 (US$ Million)

Table 11. Mexico: Hydrogen Compressor Market, by End-Users –Revenue and Forecast to 2028 (Mexico$ Million)

Table 12. List of Abbreviation

LIST OF FIGURES

Figure 1. North America Hydrogen Compressor Market Segmentation

Figure 2. North America Hydrogen Compressor Market Segmentation – By Country

Figure 3. North America Hydrogen Compressor Market Overview

Figure 4. Oil-Based Segment held the Largest Share of North America Hydrogen Compressor Market

Figure 5. Multi-Stage Segment held the Largest Share of North America Hydrogen Compressor Market

Figure 6. Oil and Gas segment held the Largest Share of North America Hydrogen Compressor Market

Figure 7. US to Show Great Traction During Forecast Period in North America Hydrogen Compressor Market

Figure 8. North America – PEST Analysis

Figure 9. Hydrogen Compressor Market Ecosystem

Figure 10. Expert Opinions

Figure 11. North America Hydrogen Compressor Market Impact Analysis of Drivers and Restraints

Figure 12. North America Hydrogen Compressor Market - Revenue and Forecast to 2028 (US$ Million)

Figure 13. North America Hydrogen Compressor Market Breakdown, By Type (2020 and 2028)

Figure 14. North America Oil-Based: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

Figure 15. North America -Free: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

Figure 16. North America Hydrogen Compressor Market Breakdown, By Stage (2020 and 2028)

Figure 17. North America Single-Stage: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

Figure 18. North America Multi-Stage: Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

Figure 19. North America Hydrogen Compressor Market Breakdown, By End-user (2020 and 2028)

Figure 20. North America Chemicals : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

Figure 21. North America Oil and Gas : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

Figure 22. North America Automotive and Transportation : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

Figure 23. North America Renewable Energy : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

Figure 24. North America Other end-users : Hydrogen Compressor Market- Revenue and Forecast to 2028 (US$ Million)

Figure 25. North America: Hydrogen Compressor Market, by Key Country- Revenue 2020 (US$ Million)

Figure 26. North America: Hydrogen Compressor Market Revenue Share, by Key Country (2020 & 2028)

Figure 27. US: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28. Canada: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29. Mexico: Hydrogen Compressor Market – Revenue and Forecast to 2028 (US$ Million)

Figure 30. Impact of COVID-19 Pandemic in North American Country Markets

The List of Companies - North America Hydrogen Compressor Market

  1. Atlas Copco
  2. Burckhardt Compression AG
  3. Fluitron, Inc.
  4. Gardner Denver
  5. HAUG Sauer Kompressoren AG
  6. Howden Group
  7. HYDRO-PAC, INC.
  8. Lenhardt & Wagner
  9. NEUMAN & ESSER GROUP
  10. PDC MACHINES INC.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to North America Hydrogen Compressor Market