A recent report published by Infinium Global Research on the nitrogen generators market provides an in-depth analysis of segments and sub-segments in the global as well as regional nitrogen generators market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional nitrogen generators market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global nitrogen generators market. According to the report, the global nitrogen generators market is projected to grow at a CAGR of 4.65% over the forecast period of 2021-2027.
The global nitrogen generators market was sized from USD 11.2 billion in 2021 to about USD 14.7 billion in 2027. The global nitrogen generators market is projected to grow with a CAGR of 4.65% during 2021-2027. The gases which are manufactured primarily for industrial usage like oxygen, nitrogen, argon, carbon dioxide, helium, acetylene, and hydrogen are used in variety of industries such as oil & gas, mining, and steel making. From these gases, nitrogen is one of the most used gas in several industries and it is usually produced by separating nitrogen from air. Furthermore, in such industries, the nitrogen is produced with the help of a nitrogen generator, which processes air to produce nitrogen. Moreover, nitrogen is an essential gas for various industries because it plays a vital role in the manufacturing process for various different industries. Additionally, the nitrogen gas founds use in chemical blanketing, food packaging, electronics, laboratory, and more. The industries use nitrogen generators to obtain an adequate amount of quality nitrogen for the required production.
There is increasing development of end-user industries such as food & beverages, chemicals, and pharmaceuticals, due to which there is rising demand for nitrogen generators. This is the prime factor which driving market’s growth over forecast period. Furthermore, increase in application of nitrogen in fire & corrosion control and as dielectric gas in high voltage equipment is also propelling the growth of nitrogen generator market. In addition, the development of the market is also subjected to high purity of nitrogen of level 99.995% generated using nitrogen generators. This also increases the demand for nitrogen generators and drives the market. On the other hand, stringent regulatory restrictions and measures is a prime factor which hampering market’s growth over forecast period. Nevertheless, the growing demand from the chemical industry for nitrogen generators is expected to provide lucrative opportunities to the nitrogen generator market.
There is a high demand for nitrogen generators in the North American region due to the higher number of presences of developed industries. Hence, North America is the dominating region of nitrogen generator market and also expected to maintain its dominance during forecast period. Furthermore, the market in the Asia Pacific region is also expected to expand at significant growth due to growth of end-user industries in the region such as food & beverages, aviation, and pharmaceutical. The market in the APAC region is contributed by developing economies such as China and India, due to high growth potential of end-user industries in these countries. Furthermore, increase in population and growing urbanization rate are also driving the market in Asia Pacific region.
The report on global nitrogen generators market covers segments such as type, and end-user. On the basis of type, the sub-markets include PSA nitrogen generator, cryogenic nitrogen generator, and membrane nitrogen generator. On the basis of end-user, the sub-markets include electrical & electronics, transportation, chemicals, medical & pharmaceuticals, and others.
The report provides profiles of the companies in the market such as Hitachi Ltd, Air Products and Chemicals, Inc., Atlas Copco AB, Linde, NOVAIR S.A.S, On Site Gas Systems, Inc., Oxymat A/S, Parker-Hannifin Corporation, and Peak Gas Generation.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of nitrogen generators market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.