24-Sep-2020 | Zion Market Research
According to the report published by Zion Market Research, global demand for Gas Equipment market was valued at approximately USD 92.7 Billion in 2019, and is expected to generate revenue of around USD 61.4 Billion by end of 2026, growing at a CAGR of around 7.1% between 2020 and 2026. The global gas equipment market is expected to see noteworthy development in the coming years with the rising employment of industrial gases in chemical, metal fabrication, healthcare & medical, and oil & gas industries. Developing markets such as Brazil, China, and India are surfacing as growth frontiers for gas equipment. Increasing globalization, economies, and lower trade hurdles act as the major boosters for elevated growth avenues in these countries.
The major players in the gas equipment market are Air Products And Chemicals, Inc., Linde AG, Praxair Inc., Air Liquide S.A, and Iwatani Corporation. The other vendors in the market are Matheson Tri-Gas, Inc., Colfax Corporation, Messer Group GmbH, Itron, Inc., and GCE Holding AB.
Employment Of Cryogenic Goods Expected To Elevate At The Quickest Speed In The Years To Come
The cryogenic products category is expected to be the quickest-developing equipment segment in the years to come. Owing to the rising employment of extremely cooled liquefied gases in the chemical industry and other industrial processes, the requirement for cryogenic goods such as cryogenic storages, pressure vessels, and cold traps for storing and transporting has also elevated and it is predicted to undergo the same trend by the end of 2025. This category is expected to develop at the max CAGR in the years to come and grab the biggest share of the market.
North America Ruled The Global Gas Equipment Market And Expected Maintain The Position
North America had the biggest gas equipment market share and is expected to power the market in the years to come. The US is expected to be the quickest-developing nation for gas equipment in the years to come whereas the Asia Pacific market is expected to develop at the max CAGR. Factors such as development of the metal fabrication sector owing to the rising requirement for consumer appliances and automobiles, growth of new techs and machineries in the medical & healthcare industry, swift industrialization in the up-and-coming Asia Pacific area, and strict regulations by government related to environmental and worker safety are powering the gas equipment market.
Browse the full “Gas Equipment Market By Industrial Gas ( Helium, Acetylene, Hydrogen, Atmospheric, And Others (Xenon, Neon, Nitrous Oxide, Krypton, And Carbon Monoxide), Equipment Type (Gas Detection Systems, Cryogenics, Gas Generation, Flow Devices, Purifiers And Filters, Regulators, And Gas Delivery), Process (Transportation, Detection, Storage, And Generation), End User ( Oil And Gas, Emergency Services, Water Treatment, Mining, Power Generation, Healthcare And Medical, Metal Fabrication, Chemical, And Others(Electronics, Automotive, And Food And Beverage)): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/gas-equipment-market
The global gas equipment market is segmented as follows:
By Equipment Category:
By End-Use Sector:
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