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DUBLIN--(BUSINESS WIRE)--Oct 27, 2022--
The "Global Electrochemical Hydrogen Compressor Market By Type, By Application, By Technology, By Specification, By Region Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
Global Electrochemical Hydrogen Compressor Market was valued at USD51.99 million in 2021 and is anticipated to project a robust growth in the forecast period with a CAGR of 13.96% owing to rise in use of Electrochemical Hydrogen Compressors (EHCs) by end user industries including chemical, oil and gas industry and automobiles and the need for decreased carbon dioxide emissions.
A hydrogen compressor known as an electrochemical hydrogen compressor (EHC) uses the electrolysis process to compress hydrogen gas before the compressed hydrogen can be collected from the cathode. In order to compress low-pressure hydrogen into high-pressure hydrogen, electrochemical hydrogen compressors use the electrochemical principle. Voltage application can cause a localized pressure difference due to hydrogen oxidation at anodes and hydrogen reduction at cathodes.
Rise in Use By End User Industries Including Chemical, Oil And Gas Industry and Automobiles Driving the Market Growth
The growth of electrochemical hydrogen compressors (EHCs) applications from various end user industries, including the chemical, oil and gas, and automotive sectors, is projected to drive the market for EHCs as a whole. When compared to other non-mechanical hydrogen compressors, the EHCs' low electric power consumption, reduced thermal loss, and enhanced efficiency are the main reasons for their increased use. EHCs have straightforward device designs, which frequently aid in reducing safety concerns. Additionally, EHCs can compress and purify gaseous hydrogen at the same time, making them one of the most promising possibilities for electrochemical hydrogen compression in the future.
Growing Consumer Preference Towards Cleaner Energy Fuels
The global movement to reduce greenhouse gases, including CO2, nitrogen oxides, and sulphur oxides, is being driven by climate initiatives. As a result, it is believed that one of the key trends driving the growth of the worldwide electrochemical hydrogen compressor market is consumers' shifting demand for greener energy fuels. Due to the expansion of the hydrogen pipeline infrastructure and the spike in demand for hydrogen across a variety of end user industries, the global electrochemical hydrogen compressor market is anticipated to expand at a substantial rate during the forecast period. The expansion of the global market for hydrogen compressors is being driven by the emergence of hydrogen refineries in various countries. The market for hydrogen compressors is expanding as a result of rising demand from the car and consumer electronics industries.
Diversified Usage of Electrochemical Hydrogen Compressors
Although there are many industrial uses for hydrogen gas, such as in the production of silicon wafers, float-glass fabrication, and metal annealing, more than 80% of the hydrogen gas used in these processes is frequently wasted. A new electrochemical system was developed, allowing facilities that use hydrogen gas to recover the gas by isolating and purifying it from a waste gas stream and compressing the gas for reuse. In hydrogen refueling stations, electrochemical hydrogen compressors are also utilized to pressurize hydrogen gas for storage. Without using hydrochlorofluorocarbons (HCFCs) or chlorofluorocarbons (CFCs), these electrochemical compressors are quiet, scalable, modular, and extremely efficient (HCFCs).
Report Scope:
Electrochemical Hydrogen Compressor Market, By Type:
Electrochemical Hydrogen Compressor Market, By Application:
Electrochemical Hydrogen Compressor Market, By Technology:
Electrochemical Hydrogen Compressor Market, By Specification:
Electrochemical Hydrogen Compressor Market, By Region:
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Electrochemical Hydrogen Compressor Market
5. Voice of Customer
6. Global Electrochemical Hydrogen Compressor Market Outlook, 2017-2027F
7. North America Electrochemical Hydrogen Compressor Market Outlook
8. Europe Electrochemical Hydrogen Compressor Market Outlook
9. Asia-Pacific Electrochemical Hydrogen Compressor Market Outlook
10. Market Dynamics
11. Market Trends & Developments
12. Company Profiles
13. Strategic Recommendations
14. About the Publisher & Disclaimer
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/iga7xm
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SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/27/2022 10:16 AM/DISC: 10/27/2022 10:16 AM
http://www.businesswire.com/news/home/20221027005737/en