New York, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Hydrogen Compressor Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Stage, and End-User" - https://www.reportlinker.com/p06103266/?utm_source=GNW
The growing investment in the oil and gas sector is likely to boost the development of hydrogen compressors in the near future. Additionally, the rising adoption of hydrogen fuel cell vehicles is among the other factors expected to positively influence the demand for hydrogen compressors in the region.
Based on type, the oil-based segment led the North America hydrogen compressor market in 2020.Majority of hydrogen compressors used across industries are oil-based, owing to long stroke and slow speed types.
As per the historical data, these are the most reliable compressors accessible in the market.Other popular hydrogen compressors include vertical and horizontal compressors, moderate speed types, and short stroke compressors.
Oil-based hydrogen compressors use lubricating oil, which maintains the piston or rotary element operating smoothly without damaging the mechanism.The oil in the compressor also helps to maintain air compression efficiency and dissipate heat.
Oil-based hydrogen compressor demands more routine maintenance and change of oil frequently. It also requires better filtration of hydrogen using separators & coalescing filters to remove the oil and protect downstream equipment and processes from contamination.
North American countries suffered a huge loss in the first half of 2020, owing to the rapid rise in number of COVID-19 cases, specifically in the US.Thus, the demand for hydrogen compressor decreased slightly in 2020.
This can be mainly attributed to lockdown imposed by various state governments and low demand from chemical, oil and gas, and renewable energy industries.The similar growth pattern is likely to continue in 2021 as well.
The COVID-19 has already impacted the sales of electronics equipment and hydrogen compressors in the year 2020 in a negative manner, as companies had to be functional with a limited workforce.They are now trying to cope up with the losses they faced in 2020.
Furthermore, municipalities are functioning slowly as compared to the past and the renewable energy projects are at a halt, which are further limiting the hydrogen compressor market growth in North America.
The overall North America hydrogen compressor market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the North America hydrogen compressor market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America hydrogen compressor market. Atlas Copco AB; Burckhardt Compression AG; Fluitron, Inc.; Gardner Denver Nash, LLC; Howden Group; Hydro-Pac, Inc.; Lenhardt & Wagner GmbH; NEUMAN & ESSER GROUP; and PDC Machines Inc. are among the major players operating in the North America hydrogen compressor market.
Read the full report: https://www.reportlinker.com/p06103266/?utm_source=GNW
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