The reciprocating hydrogen compressor market, a key player in petroleum refining and chemical processing industries, was valued at $914.29 million in 2022. It is projected to grow to $1.6 billion by 2032, with a compound annual growth rate (CAGR) of 5.3% from 2023 to 2032.
Hydrogen is increasingly recognized as a clean and efficient energy source across various sectors, including transportation, power generation, and industrial applications. As countries focus on developing hydrogen infrastructure, such as fuel cell refueling stations and hydrogen manufacturing plants, the demand for hydrogen compressors is expected to rise significantly.
In addition, the growing oil and gas industry and the critical need to compress hydrogen further contribute to the expanding market for reciprocating hydrogen compressors.
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