Market Insight-Global Hydrogen Circulation Pump Market Overview 2022
The global hydrogen circulation pump market size was estimated at USD 39.12 million in 2021 and is projected to reach USD 513.03 million by 2027, exhibiting a CAGR of 53.56% during the forecast period.– Bossonresearch.com
The hydrogen pump is an innovative H2 transport technology with the additional functions of compression and purification in the recirculation system. Hydrogen pumps are very efficient compared to mechanical compressors due to the almost isothermal conditions they operate under. Thus, the hydrogen pump has a high potential for use in the recirculation of hydrogen in FC systems in the automotive industry and is a great alternative to today's recirculation blower. The HP could play a vital role in the evolution of fuel cell vehicles and help to decrease the hydrogen consumption, resulting in more energy-efficient and greener mobility in the future.
According to Bosson Research, the global hydrogen circulation pump market size was estimated at USD 39.12 million in 2021 and is projected to reach USD 513.03 million by 2027, exhibiting a CAGR of 53.56% during the forecast period.
Figure 1. Mechanism of Fuel Cell and Role of Hydrogen Circulation Pump
Source: Secondary Sources and Bosson Research, 2022
Figure Global Hydrogen Circulation Pump Market Size
Source: Bossonresearch.com, 2022
Key players in the Hydrogen Circulation Pump Market include:
Busch Vacuum Solutions
Ogura Industrial Corp
Robert Bosch GmbH
Techno Takatsuki Co
Toyota Industries
KNF Group
Air Squared
Wise Drive
Rheinmetall
Barber-Nichols
JiNan Super Technology Co.,Ltd
Fujian Snowman
Beijing Aier Aviation Technology Co , Ltd
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Industry Policy Analysis
The development of an industry is closely related to the relevant policies, technology development, and application. the hydrogen industry and FCV industry are, respectively, evaluated from three perspectives to give a comprehensive picture of the whole hydrogen FCV industry.
The FCV market in China is mainly policy driven. Since the late1990s, research and demonstration programs have been initiatedin China.The FCV industry has recently become a hotspot, andcentral and local governments have successively issued policiesto promote the development of FCVs.
Supportive PoliciesIn recent years, the State Council and central government minis-tries have issued a large number of policies to guide the develop-ment of hydrogen and FCVs, including macro comprehensivepolicies, industry management, promotion and application, taxincentives, scientific/technology innovation, and infrastructuredevelopment, as shown in following Table. From the 10th Five YearPlan to the 13th Five Year Plan, the Ministry of Science and Technology of China took the lead in launching a series of
Table 1. List of Policies Promoting the Development of Hydrogen and FCVs in China
Source: Elsevier Ltd; Secondary Sources and Bosson Research
Figure 2. Analysis framework of FCV policies. Reproduced with permission
Source: Elsevier Ltd; Secondary Sources and Bosson Research
The policies in Table are classified according to the analysisframework and Figure 55 shows the results. The majority ofChina’s FCV policies mainly focus on commercialization,whereas the policies about marketing is the least. At present,the supply-side policies significantly out-number the demandside. There are 27 supply-side policies whereas only five policiesare demand side. On the supply side, China has introduced manypolicies in planning, industry management, and demonstration.Demand-side policy involves fewer policies and mainly focuseson commercialization.
The USA was the first country to develop a hydrogen economy. As the world’s second-largest primary energy consumer, theUSA has consumed more energy than it produced for a verylong time, leading to serious energy safety concerns.Therefore, reducing dependence on foreign oil has been oneof the most important government policies. The energy crisiswas a fuse that detonated the development of the hydrogen econ-omy. In the 1970s, the US National Foundation was authorizedto issue hydrogen energy projects.In 2005, the US govern-ment published its energy policy,which considered hydrogenas an important type of energy to ensure future jobs andinstructed programs and funds to develop the hydrogen econ-omy. Since then, the USA has formed a comprehensive schemeof incentives, laws, regulations, and programs to develop ahydrogen-based energy system. According to the Hydrogen Posture Plan, the development of hydrogen technology andmarket transformation are divided into four stages: technologydevelopment (from 2000 to 2030), initial market penetration(from 2010 to 2025), expansion of markets and infrastructure(from 2015 to 2035), and fully developed markets and infrastruc-ture (from 2025 to 2040).
Table 2. Policies to Develop Hydrogen and FCVs in the USA, Japan, and EU.
Source: Elsevier Ltd; Secondary Sources and Bosson Research
Formulating a proper energy strategy is crucial for Japan’s long-term development because of its small land area, dense popula-tion, and scarce resources. Hydrogen has been considered as thestrategic energy in the Japan Revitalization Strategy and theStrategic Energy Plan released by the Japanese Cabinet, withthe hope of solving domestic energy problems through thedeployment of advanced hydrogen technologies and the develop-ment of a hydrogen society. The Japanese government hasformulated specific standards and regulations for hydrogenand FCVs, providing strong support for their commercialization.In summary, Japan has formed a well-planned industry–academia–government cooperation, making it a global techno-logical leader. However, due to the limited size of the domesticmarket, the deployment of hydrogen and FCVs will inevitablyreach a bottleneck if focusing on the Japan market only.
European Union Policy Analysis
The European Commission is one of the most positive propellers to solve the problems of energy depletion and environmental deterioration, with a focus on renewable energy applications. The proportion of renewable energy sources (RESs) in the electricity generation is increasing every year and electricity generation from RESs contributed 32.3% to total gross electricity generation in 2018.Hydrogen and fuel cells are regarded as key technologies to address the challenges of energy and
climate change and the energy-storage problem in the European Union (EU), whose framework programs have continuously supported hydrogen and fuel cell R&D since the second Framework Program (FP2) in 1986.The EU has a relatively complete hydrogen-related legal system, which benefits the enforcement of regulations. Research and demonstration projects have been successively conducted based on its frame projects, which provide explicit development progress and targets for the commercialization of hydrogen and FCVs in EU.
The European Commission is one of the most positive propellersto solve the problems of energy depletion and environmentaldeterioration, with a focus on renewable energy applications.The proportion of renewable energy sources (RESs) in the elec-tricity generation is increasing every year and electricity genera-tion from RESs contributed 32.3% to total gross electricitygeneration in 2018.Hydrogen and fuel cells are regardedas key technologies to address the challenges of energy andclimate change and the energy-storage problem in theEuropean Union (EU), whose framework programs have contin-uously supported hydrogen and fuel cell R&D since the secondFramework Program (FP2) in 1986.The EU has a relativelycomplete hydrogen-related legal system, which benefits theenforcement of regulations. Research and demonstrationprojects have been successively conducted based on its frameprojects, which provide explicit development progress and tar-gets for the commercialization of hydrogen and FCVs in EU.
The Integrity Analysis of Hydrogen Industry Chain
The world has seen the transition of energy systems from oneform to another since the 19th century, i.e., from wood to coalto oil to natural gas, revealing the increase in the ratio of hydro-gen to carbon in the successive dominant fuel. Therefore,it is widely accepted that hydrogen has the potential to becomea major fuel in the future. Some of the state-owned traditionalenergy giants, such as China Energy and Sinopec, have formeda strategic plan for the hydrogen industry in China. With enter-prises working on each key sector, the hydrogen industry chainbegan to take shape, as shown in Figure 56.
Figure 3. Main Enterprises in Each Sector of the Hydrogen Industry Chain
Source: Elsevier Ltd; Secondary Sources and Bosson Research
Figure 4. Projections for Hydrogen Production in the Future
Source: Elsevier Ltd; Secondary Sources and Bosson Research
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