North America dominated the industrial gas equipment market

North America held the largest share in the industrial gas handling equipment market and is projected to dominate the market during the forecast period. The U.S. is projected to be the fastest-growing country level market for industrial gas handling equipment, during the forecast period, whereas the market for Asia-Pacific is projected to grow at the highest CAGR. Factors such as growth of the metal fabrication industry due to the increasing demand for automobiles and consumer appliances, development of new technologies and machineries in the healthcare & medical sector, rapid industrialization in the emerging Asia-Pacific region, and stringent government regulations regarding worker and environmental safety are driving the industrial gas handling equipment market.

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The gas equipment market size will grow from USD 51.93 Billion in 2016 to reach USD 72.22 Billion by 2021, at an estimated CAGR of 6.82%. Strict government standards and regulatory legislations have a positive impact on the safest and proper use of gas equipment. Rapid industrialization, growing concern toward the public health, and laws & regulations have propelled the growth of the gas equipment industry.

Gas equipment market, on the basis of equipment category, consists of gas delivery systems, gas regulators, flow devices, purifiers & filters, gas generating systems, gas detection systems, cryogenic products, and accessories. Due to the increasing use of super cooled liquefied gases in the chemical sector and other industrial activities, the demand for cryogenic products such as pressure vessels, cryogenic storages, and cold traps for the purpose of transporting and storing has also increased and it is expected to witness the same trend through 2021. 

On the basis of gas, the market has been categorized into atmospheric gases, hydrogen, acetylene, helium, and other gases which include carbon monoxide, krypton, neon, xenon, and nitrous oxide. The atmospheric gases segment recorded the largest consumption of gas equipment in 2015 due to the huge demand for this type of gases in the industrial applications. Hydrogen and acetylene gas have high potential as the demand for these gases is growing rapidly in the chemical, food processing, and metallurgical industries.

The key players in the industrial gas handling equipment market are Linde AG (Germany), Air Liquide S.A (France), Praxair Inc. (U.S.), Air Products And Chemicals, Inc. (U.S.), and Iwatani Corporation (Japan). The other players in the market are Colfax Corporation (U.S.), Itron, Inc. (U.S.), Messer Group GmbH (Germany), Matheson Tri-Gas, Inc. (U.S.), and GCE Holding AB (Sweden).

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APAC is expected to be the largest market for Specialties of Lube Oil Refinery

The specialties of lube oil refinery market has been studied for APAC, North America, Europe, South America, and the Middle East & Africa. The APAC specialties of lube oil refinery market is projected to register the highest CAGR, in terms of value, during the forecast period. The global specialties of lube oil refinery market has witnessed a sluggish growth, owing to the slow growth in North America and Europe. This created huge opportunities for the consumption of specialties of lube oil refinery in APAC. Change in lifestyle and purchasing power parity of the consumers in this region is also driving the use of specialties of lube oil refinery in the cosmetics, pharmaceutical, and packaging industries.

The specialties of lube oil refinery market is expected to grow from USD 10.4 billion in 2018 to USD 11.3 billion by 2023, at a CAGR of 1.8%. The growth of the specialties of lube oil refinery market is attributed to the growing packaging, pharmaceutical, and cosmetics industries. 

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Companies such as Exxon Mobil Corporation (US), Sinopec Corporation (China), Royal Dutch Shell Plc (Netherlands), PetroChina Company Limited (China), Repsol SA (Spain), Eni S.p.A. (Italy), LUKOIL (Russia), and Sasol Ltd. (South Africa) are the leading players in the specialties of lube oil refinery market, globally.  Diversified product portfolio, high depth in application reach, and technical assistance to customers are factors responsible for strengthening the position of these companies in the specialties of lube oil refinery market. They have also been adopting various organic and inorganic growth strategies, such as new product development, merger & acquisition, and expansion, to enhance their current position in the specialties of lube oil refinery market. 

Sinopec Corporation (China) is the other major player in the specialties of lube oil refinery market. The company adopted the inorganic growth strategies to establish its foothold, globally. For example, Gaoqiao Petrochemical Co Ltd. (China), a wholly owned subsidiary of Sinopec Corporation, purchased the 50% stake of BP Group (UK) in the Shanghai SECCO Petrochemical Company Limited (SECCO) and formed a 50-50 joint venture with Shanghai Secco Petrochemical. In January 2016, Sinopec Corporation entered into a joint venture with Saudi Aramco (Saudi Arabia) for strategic co-operation to set up a refinery Yanbu Aramco Sinopec Refining Company at Riyadh, Saudi Arabia. With this joint venture, the company plans to build strong business relationships with customers in the Middle East and improve its position in the specialties of lube oil refinery market.

Scope of the Report:

Report MetricDetails
Market size available for years2016-2023
Base year considered2017
Forecast period2018–2023
Forecast unitsValue (USD), Volume (Kiloton)
Segments coveredType and Region
Regions coveredNorth America, APAC, Europe, South America, and Middle East & Africa
Companies coveredExxon Mobil Corporation (US), Sinopec Corporation (China), Royal Dutch Shell Plc (Netherlands), Eni S.p.A. (Italy), Sasol Ltd. (South Africa)
Total 25 major players covered

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Gas Equipment Market worth 72.22 Billion USD by 2021

The report Gas Equipment Market by Industrial Gas (Atmospheric, Hydrogen, Acetylene, Helium), Type (Gas delivery, Regulators, Purifiers & filters, Flow devices, Gas generation, Cryogenics, Gas detection), Process (Generation, Storage, Detection, Transportation) – Forecast to 2021″, The industrial gas handling equipment market size is projected to grow from USD 51.93 Billion in 2016 to USD 72.22 Billion by 2021, at a CAGR of 6.82% from 2016 to 2021.

Browse 722 market data Tables and 44 Figures spread through 533 Pages and in-depth TOC on “Gas Equipment Market”

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The industrial gas handling equipment market is projected to witness significant growth in the future with the increasing use of industrial gases in metal fabrication, chemical, oil & gas, and healthcare & medical sectors. Developing markets such as China, Brazil, and India are emerging as growth frontiers for industrial gas handling equipment. Growing economies, globalization, and reduced trade barriers act as the main drivers for increased opportunities in these nations.

“Use of cryogenic products is projected to increase at the fastest pace during the forecast period.”

The cryogenic products segment is projected to be the fastest-growing equipment category in the next five years. Due to the increasing use of super cooled liquefied gases in the chemical sector and other industrial activities, the demand for cryogenic products such as pressure vessels, cryogenic storages, and cold traps for the purpose of transporting and storing has also increased and it is expected to witness the same trend through 2021. This segment is projected to grow at the highest CAGR during the forecast period and acquire the largest market share.

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“North America dominated the industrial gas handling equipment market, in 2015”

North America held the largest share in the industrial gas handling equipment market and is projected to dominate the market during the forecast period. The U.S. is projected to be the fastest-growing country level market for industrial gas handling equipment, during the forecast period, whereas the market for Asia-Pacific is projected to grow at the highest CAGR. Factors such as growth of the metal fabrication industry due to the increasing demand for automobiles and consumer appliances, development of new technologies and machineries in the healthcare & medical sector, rapid industrialization in the emerging Asia-Pacific region, and stringent government regulations regarding worker and environmental safety are driving the industrial gas handling equipment market.

The key players in the industrial gas handling equipment market are Linde AG (Germany), Air Liquide S.A (France), Praxair Inc. (U.S.), Air Products And Chemicals, Inc. (U.S.), and Iwatani Corporation (Japan). The other players in the market are Colfax Corporation (U.S.), Itron, Inc. (U.S.), Messer Group GmbH (Germany), Matheson Tri-Gas, Inc. (U.S.), and GCE Holding AB (Sweden).

The scope of the report covers detailed information regarding the major factors influencing the growth of the industrial gas handling equipment market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been conducted to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, joint ventures, and recent developments associated with the industrial gas handling equipment market.

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