Rising adoption of fuel cell systems in commercial vehicles will lead to the market growth.
The Hydrogen recirculation pumps are widely used in fuel cells to recirculate hydrogen. Most of the hydrogen recirculation pumps are made up of materials and coatings that resist the corrosive effects of 100% humidified H2. These pumps have wide internal sealing areas between the housing and lobes. An exceptional coating on the lobes can handle the tight clearances between the housing and rotors, making them efficient. Moreover, to confirm a high performance of the fuel cell stack, more hydrogen is supplied to the stack than is required for the reaction, which make them suitable for various end-users.
The key driver which is helping the market to grow further is the increasing number of the passenger vehicle, especially in the North America countries owing to high per capita income. Moreover, increasing demand for special utility vehicles (SUVs) in recent times owing to the growing leisure and tour activities globally is accredited to the market growth. The number of passenger vehicles is also increasing rapidly in the United States, and in the month of January 2022, around 200,286 passenger vehicles. Also, there are more than 30 automotive brands in the country responsible for the growth of automotive industry in the United States. Thus, robust presence of the automotive sector in the North America region is likely to help the market to grow at a rapid pace.
Rising adoption of fuel cell systems in commercial vehicles is creating a great platform for the hydrogen recirculation pump market to grow further at a significant pace. As the environmental concerns are growing, various environmental agencies and governments are enacting stringent emission laws and norms, which are anticipated to increase the manufacturing cost of fuel-efficient diesel engines in the coming years. Therefore, the new commercial vehicle diesel engines are likely to create demand for the hydrogen recirculation pumps.
The higher cost of fuel cell based vehicle is leading the major restraining factor in the market. The fuel cell is made using a bipolar plate, membrane, gas diffusion layers, stacks, and a catalyst. Hydrogen atoms are oxidized into electrons and protons in a fuel cell. A catalyst is used for the chemical process. Generally, platinum is used as a catalyst in PEM fuel cells that are mostly used for automotive applications. Platinum is one of the expensive metals, making fuel cell expensive and creating a major barrier for the hydrogen recirculation pump market to grow further.
Hydrogen recirculation pump market is growing at a rapid pace, still the key reason which hampers the growth of market is explosive nature of hydrogen as fuel. The lower and upper flammability limits for hydrogen in air are between 4% and 75%. It is odourless and tasteless, so a tiny leak can easily reach dangerous levels, which hampers the market growth of hydrogen recirculation pump market.
The report provides an in-depth analysis of the Hydrogen recirculation pump market, including market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The increasing demand for Hydrogen recirculation pump with increasing demand for fuel cell vehicles in automotive and transportation is driving the market and is expected to witness growth at a specific CAGR from 2022-2028.
The Hydrogen recirculation pump market consists of different market segments like type, application and country.
By Type, Hydrogen recirculation pump is consisting of
On the basis of types, scroll type is expected to hold majority of the share during the projection period. The market for scroll has a huge potential to recirculate hydrogen in a fuel-cell vehicle owing to its high efficiency, reliable operation, low noise and vibration, and a wide range of adjustable flow benefits. Also, various manufacturers are focusing upon manufacturing scroll which are smoother, rotary motion, 100% oil-free low sound levels, and have a long life. Apart from that, root is also growing at rapid pace, as root pump belongs to the positive displacement machine and its benefits include low cost, permission with reversible rotation and high reliability.
The hydrogen recirculation pumps market on the basis of application include:
Based upon application, the market has been dominated by the passenger vehicles, as the number of passenger vehicles is increasing in the developing countries with increased per capita income. Also, demand for hydrogen fuel cell light duty passenger vehicles is growing attributed to the growth of the hydrogen recirculation pump market. Furthermore, passenger cars are being manufactured with increased concern about environmental, rise in government investments and initiatives for development of hydrogen fuel cell infrastructure, and driving the market.
The Hydrogen Recirculation Pumps market is studied for the following countries:
For North America region, United States is considered to be most important market for Hydrogen Recirculation Pumps, since United States is considered to be one of the most technically advanced countries across the globe, and home to many of the automotive companies which creates a great opportunity for the hydrogen recirculation pump market to grow further. Moreover, increased demand for the commercial vehicles with growing logistic, commercialization, online retail sector, etc. is also expected to help the market to grow further. Moreover, growing automotive industry of US is focused towards saving the fuel which creates a great platform for the hydrogen recirculation pumps market to grow. Apart from that, Canada is emerging as one of the major markets for the hydrogen recirculation pumps owing to the increased industrialization and growing demand for the commercial vehicles in this country and growing oil and gas industry.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors with regard to the Hydrogen Recirculation Pumps market. The report studied an exclusive COVID-19 impact analysis. In addition, the report also studied a complete analysis of changes in the Hydrogen Recirculation Pumps market, expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of pandemics on economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. COVID-19 had a negative impact on the Hydrogen Recirculation Pumps market. The market got adversely impacted owing to negative impact of COVID pandemic on the automotive sector, for instance, vehicle sales in August 2020 declined approximately to 20% (YoY), reaching 1.33 million units. Total January-August 2020 sales reached approximately 8.8 million units, down 23%, due to which the demand for hydrogen recirculation pumps also declined. Moreover, shortage of labour and disruption in supply chain affected the market share for hydrogen recirculation in Canada and Mexico as well.
The competitive landscape analysis of the Hydrogen Recirculation Pumps is majorly focused on expanding the growth of Hydrogen Recirculation Pumps market with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in Hydrogen Recirculation Pumps market has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the requirements of consumers, which is further contributing to healthy growth in the market.
The key players studied in the market are
August 2021: Graham Corporation, a global company that designs, manufactures and sells critical equipment for the oil refining, petrochemical and defense industries announced that it has completed the acquisition of management-owned Barber Nichols Inc. Graham and BNI's global brand is built on world-renowned engineering expertise in vacuum and heat transfer, cryogenic and turbomachinery technology, responsive and flexible service, and unmatched quality.
March 2021: Busch Vacuum Solutions has released the world's first TÜV-certified hydrogen recirculation blower for fuel cells. With a performance of up to 45 kilowatts, the MINK MH 0018. A hydrogen recirculation blower ensures optimal recirculation of hydrogen within fuel cells. This blower can also be used at a lower recirculation rate for fuel cells with a power output of up to 60 kilowatts. For larger fuel cells, two blowers can be run in parallel. Because of its small size, the MINK hydrogen recirculation blower can be installed directly in the fuel cell module.
June 2019: Ogura expanded its line of hydrogen recirculation pumps for use in fuel cells. As the number of fuel cell requirements grows, so does the demand for efficient hydrogen pumps to recirculate hydrogen throughout the fuel cell stack. Because of the extremely high efficiency of the Ogura hydrogen pump, more and more manufacturers of larger (>30KW) hydrogen fuel cells are utilizing Ogura TX series pumps.
The study of Hydrogen recirculation pump market consists of different market segments like type, application and geography. On the basis of type, the market is consisting Claw, Root and Scroll. Based on application, the market is consisting among passenger and commercial vehicles. Based on country, the market is studied across United States, Mexico and Canada. Among these countries, United States holds the major share during the forecast period.
|Market Sizing for Year:||2019-2028|
|Market Segment studied:|
|Market Players and its Competitors:|
Busch Vacuum Solutions (United States)
Ogura Industrial Corp (United States)
Robert Bosch GmbH (Germany)
Techno Takatsuki Co (Japan)
Toyota Industries (Japan)
KNF Group (Germany)
Air Squared (United States)
Barber-Nichols (United States)
Fujian Snowman (China)
Yantai Dongde (China)Shanghai Hanbell Precise (China)
What are the drivers for the Hydrogen Recirculation Pumps market?
Rising adoption of fuel cell systems in commercial vehicles will lead to the market growth.
Which is the leading application for the Hydrogen Recirculation Pumps?
Passenger vehicles has accounted for the major market share and is expected to witness growth at the highest pace during the forecast period.
Which country is gaining the majority of market share during the forecast period (2022-2028)?
United States is expected to gain major market share during the forecast period (2022-2028).