International Industrial Gases Market measurement is anticipated to reach $eighty two.4 billion by 2024 from $49.Eight billion in 2016; growing at a CAGR of 6.5% from 2016 to 2024. By geography, Asia-Pacific and Europe are anticipated to grow at a CAGR of 6.Eight% and 6.6%, respectively, throughout the forecast interval.
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Rising demand of medical grade gases in healthcare and medical business is one of the most important drivers of the global industrial gases market
World industrial gases developments are resource constrains, rising demand for packed food & drinks, globalization of the trade, and increasing demand of medical grade gases in healthcare and medical trade. Although, high cost of transport & storage of these gases might hamper the Hydrogen Peroxide Equipment market growth. Furthermore, capacity expansion and advancement of modern technologies like molecular sieve separation would provide several growth opportunities for the market in the future years.
Global industrial gases market has been segmented into products kind, manufacturing and delivery, utility, and geography. Merchandise sort phase hydrogen, nitrogen, industrial gases oxygen, helium, industrial gases carbon dioxide, argon, and acetylene. Manufacturing and supply segment includes into merchant gases (cylinder delivery), merchant gases (liquified, tank delivery), and high-quantity gases (on-site technology). Key industrial gases purposes are chemical manufacturing, petroleum refinery, electronics, metallic processing, meals processing, healthcare, and different purposes. Global industrial gases trade analysis by area contains North America, Europe, Asia-Pacific and Rest of the World (RoW).
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Hydrogen held for the highest market share in the product sort segment
Hydrogen dominated the product type section with the most important market share in 2016, and expected to maintain its dominance over the forecast period 2016 – 2024, pushed by regulatory calls for relating to cleaner fuels from various end person sectors.
Petroleum refinery software dominated with highest market share in 2016
Petroleum refinery utility accounted the best market share in 2016, and expected to stay the most important over the forecast interval 2016-2024. Meals processing section is anticipated to develop at a fastest CAGR from 2016 to 2024.
Asia-Pacific to develop at a quickest CAGR over the forecast interval
Asia-Pacific dominated the worldwide industrial gases market with largest market share of 39% in 2016 and with quickest CAGR, pushed by healthcare needs, high vitality demand, and climate control initiatives on this area. Moreover, UAE, Singapore, Philippines, Saudi Arabia, and Colombia are posing the numerous demand of industrial gases.
The key players operating in the worldwide industrial gases market are Air Liquide S.A., Praxair, Inc., The Linde Group, Air Products & Chemicals Inc., Messer Group GmbH, Buzwair Industrial Gases Factories Taiyo Nippon Sanso Company, BASF SE, Yingde Gases Group Company, and AIR WATER INC., among others.
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Scope of global Industrial Gases Market
Products Type Segments
- Carbon Dioxide
Manufacturing and Delivery Segments
- Merchant Gases (Liquified, Tank Supply)
- Merchant Gases (Cylinder Delivery)
- High-Quantity Gases (On-Site Era)
- Petroleum Refinery
- Chemical Manufacturing
- Meals Processing
- Metal Processing
- Other Functions
- North America
- Relaxation of Europe
- South Korea
- Relaxation of Asia-Pacific
– South America
- Middle East
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About Variant Market Research
Variant Market Research gives syndicated and customized studies to fulfil purchasers’ aims. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cowl several trade domains, namely Semiconductor & Electronics, Consumer Electronics, Info and Communication Technology, Automotive, Client Goods, Meals & Drinks, Pharmaceuticals, Medical Gadgets, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Development, Power & Power, Defense & Aerospace and Banking, Financial companies and Insurance coverage (BFSI). Our expertise is data triangulation, competitor benchmarking, mother or father market benchmarking, estimating market measurement and forecast of the market from 2016 to 2024.