Electrochemical Hydrogen Compressor Market Is Projected To Grow At CAGR of 13.96

1. 2017 – 2027 GLOBAL ELECTROCHEMICAL HYDROGEN COMPRESSOR MARKET FORECAST AND OPPORTUNITIES www.techsciresearch.com MARKET INTELLIGENCE . CONSULTING

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10. Product Overview

11. Product Overview Scope of Report: Electrochemical Hydrogen Compressor An Electrochemical Hydrogen Compressor (EHC) is a hydrogen compressor where the electrolysis process is used to compress the hydrogen gas by supplying it to the anode, and the compressed hydrogen can be collected from the cathode. Electrochemical hydrogen compressors use the electrochemical principle to compress low-pressure hydrogen into high-pressure hydrogen in which the application of voltage can lead to the generation of localized pressure difference due to hydrogen oxidation at anodes and hydrogen reduction at cathodes. Market Segmentation Review Period 2017 – 2020 Base Year 2021 Estimated Year 2022 Forecast Period 2023 – 2027 BY TECHNOLOGY Year Range GLOBAL ELECTROCHEMICAL HYDROGEN COMPRESSOR MARKET BY TYPE • Single-stage • Multi-stage • <100 Bar • 100 to 500 Bar • 500 to 1000 Bar • >1000 Bar BY SPECIFICATION • Oil-based • Oil-free BY APPLICATION • Chemical • Oil & Gas • HVAC • Others BY REGION • Europe • North America • Asia Pacific • Rest of the World 11

12. Research Methodology

13. Research Methodology Data Analysis Market Profiling Developing List of Respondents Formulating Questionnaire Data Collection Data Validation In-depth secondary research was conducted to determine overall market size, segmental market size and top companies in global electrochemical hydrogen compressor market. The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about global electrochemical hydrogen compressor market. Data obtained as a result of primary and secondary research was validated through rigorous triangulation. TechSci conducted interviews with industry experts and leading companies for data collection and verification. In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide. List of leading companies and industry specialists was developed. Data Filter & Analysis Research & Intelligence Actionable Insights Business Solution Data Collection Desk Research Company Analysis Primary Research • Recent Developments • Market Changing Aspects/Dynamics • Government Policies • Conclusion • Market Participants • Key Strengths • Identifying Key Opinion Leaders • Questionnaire Design • In-depth Interviews Primary Research Secondary Research Paid Sources • LinkedIn • TechSci Internal Database • Company Websites • Company Annual Reports • White Paper Study • Financial Reports • Investor Presentations • Regulatory Body • Factiva • Hoovers Source: XXXXX Note: These are dummy figures; please purchase our report for actual data 13

14. Research Methodology • Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of the global electrochemical hydrogen compressor market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors such as rise in applications for electrochemical hydrogen compressors in multifaceted end user industries such as the chemical, oil & gas, and automobile, technological advancements, and the need for decreasing carbon emissions, etc. and speculated a robust growth during the forecast period. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in the global electrochemical hydrogen compressor market. Methodology Followed for Calculation of Market Size: • Market Size by Value: Market size, in terms of value, for the year 2021 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders and industry experts. • The team interviewed major companies, industry experts and other value chain stakeholders in the global electrochemical hydrogen compressor market to obtain the overall market size during 2017-2021, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data for 2017-2021. Source: XXXXX Note: These are dummy figures; please purchase our report for actual data 14

15. Research Methodology • Respondents were asked about the current and future market growth rates, as well as market shares by type, by application, by technology, by specification, by region and by company. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various segments were considered, to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders depending upon the component. Methodology Followed for Calculation of Market Shares: • Market shares by type, by application, by technology, by specification, by region and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares of the leading electrochemical hydrogen compressor companies. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Moreover, respondents were asked about the leading companies operating in the global electrochemical hydrogen compressor market. Methodology Followed for Forecasting: • TechSci Research performed periodical checks on data collected through the surveys with logical checks and analyzed the survey results. Source: XXXXX Note: These are dummy figures; please purchase our report for actual data 15

16. Research Methodology • Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast the global electrochemical hydrogen compressor market, TechSci Research used various forecast techniques such as: Moving Average Time Series Analysis Regression Analysis Econometric and Judgmental Analysis TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate and analyze market demand scenario. Note: (a): Sum of some shares may not be 100% due to round off till two decimal places. Source: XXXXX Note: These are dummy figures; please purchase our report for actual data 16

17. Industry Brief High-end investments and technological advancements and rise for EHCs among end user industries including chemical, oil and gas industry and automobiles are driving the growth of global electrochemical hydrogen compressor market in the forecast period, 2023-2027. According to TechSci Research report, “Electrochemical Hydrogen Compressor Market- Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027”, Global electrochemical hydrogen compressor market stood at USD51.99 million in 2021 and is expected to register a CAGR of 13.96% to reach USD110.34 million by 2027. The global electrochemical hydrogen compressor market is expected to increase at a stable rate. Rapid urbanization and industrial growth are expected to increase energy consumption. Consequently, the rising demand for energy and power owing to rapid urbanization and the increasing household incomes, along with improving manufacturing and heavy industries, are boosting the deployment of electrochemical hydrogen compressors. Several factors, including an increase in hydrogen consumption from end-user industries and the construction of hydrogen pipeline systems, are projected to increase the Global Electrochemical Hydrogen Compressor Market. Additionally, the increasing government investments in oil and gas projects propel the demand for electrochemical hydrogen compressors integrated with energy storage systems in the Electrochemical Hydrogen Compressor Market. Thus, these factors are expected to contribute to the market growth during the forecast period. As fossil fuel sources deplete and worldwide demand for a more sustainable economy develops, hydrogen-based energy is becoming important. Hydrogen generation, purification, and compression are major technological challenges in the widespread adoption and commercialization of hydrogen-powered vehicles. Several investments and technologies are being made to address these concerns. For example, HyET has developed an Electrochemical Hydrogen Compressor (EHC) as a high-efficiency method for increasing hydrogen infrastructure deployment. This revolutionary method is ideal for hydrogen refueling stations in automobiles as well as for renewable 'green' hydrogen in natural gas pipeline infrastructure. Climate change is a major transformation driver in the EHC market. Various innovations and developing technologies are used in the production of solar panels, wind turbines, electric vehicles, and sustainably produced hydrogen. There is high business potential in the transition to a low-carbon society and minimizing CO2 emissions, and that drives demand for more energy-efficient machines such as EHCs. Global electrochemical hydrogen compressor market is segmented into type, application, technology, specification, region. Based on type, the market is further fragmented into <100 Bar, 100 to 500 Bar, 500 to 1000 Bar, >1000 Bar. The >1000 Bar segment is the fastest growing type in the market, with an increasing CAGR of 18.88% in the forecast period 2022E-2027F. This is due to the rising demand for high-pressure compression of hydrogen gas in the upcoming years. The demand for compressed hydrogen gas with more than 1000 bar pressure is rising in numerous industrial applications, including hydro desulphurizing, hydrotreating, and hydrocracking processes. Based on application, the market is segmented into chemical, oil & gas, HVAC, others. The Oil & Gas application dominated the Global Electrochemical Hydrogen Compressor Market in 2021, with a market share of 55.03%. This is due to the growing demand for compressed hydrogen gas for cleaner fuels, government regulations for the desulfurization of petroleum products, and the general decline in crude oil quality. The refinery investments are rising rapidly with the increase in oil & gas demand across the globe. Consequently, the significant investments expected in developing countries are likely to require a high demand for green hydrogen gas usage. Major market players operating in the global electrochemical hydrogen compressor market are High yield Energy Technologies (HyET) Hydrogen B. V., Xergy Inc., Nuvera Fuel Cells, LLC, Fuelcell Energy, Inc., Skyre Inc., Giner Inc., Proton Technologies Canada Inc., Henan Yuanju Machinery Equipment Co. Ltd., Keepwin Technology Hebei Co. Ltd., Taizhou Toplong Electrical & Mechanical Co., Ltd. “North America held the largest market share of 42.88% in the Global Electrochemical Hydrogen Compressor Market in 2021, as the region comprises developed nations that house heavy, medium-scale, and small-scale industries, striving to improve the energy efficiency of the region. In North America Electrochemical Hydrogen Compressor Market, the United States is the most significant contributor to the compressed hydrogen gas demand with a market share of 76.93% in 2021, majorly owing to the high demand for compressed hydrogen gas from the Oil & Gas industry,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 17

18. Sample Data- Snapshot Global Electrochemical Hydrogen Compressor Market Size, By Value (USD Million), 2017-2027F CAGR 2017-2021 By Value: XXX CAGR 2022E-2027F By Value: XXX North America Electrochemical Hydrogen Compressor Market Share, By Type, By Value, 2017-2027F France Electrochemical Hydrogen Compressor Market Share, By Application, By Value, 2017-2027F 18

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