New York, NY, Oct. 24, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Industrial Gas Regulator Market by Type (Single Stage and Dual Stage), by Gas Type (Inert, Corrosive, and toxic), by Material (Brass and Stainless Steel), and by Application (Oil & Gas, Chemical, Medical Care, Steel & Metal Processing, and Food & Beverages): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024”. According to the report, global industrial gas regulator market was valued at approximately USD 14,306million in 2017 and is expected to generate revenue of around USD 19,469. Million by the end of 2024, growing at a CAGR of around 4.5% between 2018 and 2024.
Industrial gas regulator market is expected to experience significant growth due to the strong growth in the field of oil & gas, energy, and medical care. Power generation is one of the most important utilities in any modern community. The power generation industry has the two key tasks of producing power and distributing it within a predefined network. Thus, factors such as gaining new investment for improving the operational efficiency of power generation & distribution processes and coming up with progressive designs for the overall electric power system (EPS) is expected to positively impact industry gas regulator market growth over the forecast period. Furthermore, technological advancements and product innovations in industrial gas regulators are expected to further drive industry growth in the coming years. However, high cost associated with gas processing, fluctuations in the product demand, and advancements in alternative technologies are expected to restrain industry growth.
Browse through 95 Tables & 26 Figures spread over 110 Pages and in-depth TOC on “Global Industrial Gas Regulator Market: Industry Type, Size, Share, Applications, Analysis and Forecast, 2017 - 2024”.
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According to International Energy Agency (IEA), the worldwide natural gas market is projected to witness a notable transformation as a result of new supplies coming from the U.S. for fulfilling the demand for natural gas in developing countries. It has been projected that the consumption of natural gas would grow by 1.6% every year. Natural gas is the only energy source among all fossil fuels whose consumption is projected to grow in the long-run. Hence, natural gas is likely to surpass coal as the second leading source of energy by 2040. Such factors are anticipated to drive the industry growth over the forecast timeframe.
The industrial gas regulator market is segmented on the basis of type into a single stage and dual stage. The single stage regulators segment accounted for the highest revenue share for the market in 2017. The growth can be attributed to its use in various applications such as calibration gases, gas and liquid chromatography, high purity chamber pressurization, and high purity gases, among others.
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Based on the gas type, industrial gas regulator market is segmented into toxic, inert, and corrosive. The inert segment accounted for the highest market share in 2017, due to rising demand for inert gas across various industries.
Based on material, the industrial gas regulator market has been segmented into brass and stainless steel. Stainless steel is expected to contribute significantly towards industrial gas regulator market growth over the forecast period. Stainless steel gas pressure regulators are used with corrosive specialty gases and deliver excellent performance in various applications with high delivery pressure.
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Application segment includes oil & gas, chemical, medical care, steel & metal processing, and food & beverages. Oil & gas is expected to contribute for a substantial growth over the forecast period. The growth is attributed to the increasing demand for industrial gas regulators in oil & gas coupled with rising government initiatives that are expected to drive industry growth in the coming years.
North America accounted for the highest market share in 2017, owing to increasing demand for industrial gas regulators across various industries such as oil & gas, chemical, food & beverages, and others. The U.S. is considered as a global leader in the energy production and attains high position in global natural gas production. As per the International Energy Agency (IEA), the natural gas market across the world is anticipated to witness a notable transformation since new supplies coming from the U.S are fulfilling the demand for natural gas in emerging countries. Such factors are expected to positively impact North American industrial gas regulator market in the foreseeable future.
Browse the full "Industrial Gas Regulator Market by Type (Single Stage and Dual Stage), by Gas Type (Inert, Corrosive, and Toxic), by Material (Brass and Stainless Steel), and by Application (Oil & Gas, Chemical, Medical Care, Steel & Metal Processing, and Food & Beverages): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2024" report at https://www.zionmarketresearch.com/report/industrial-gas-regulators-market
Europe is anticipated to contribute substantially towards industrial gas regulator market size over the forecast period. Russia and Norway are likely to be the major consumers of industrial gas regulator due to the presence of oil and gas companies in these countries. Moreover, developments in gas-based power infrastructure in the region are expected to increase demand for industrial gas regulator over the forecast timeframe.
The Asia Pacific is projected to witness the highest growth rate in the global industrial gas regulator market over the forecast timeframe. Rapidly expanding metal production activities and thriving manufacturing sector in China coupled with growing electronics market in the region is expected to significantly drive industrial gas regulator market growth over the forecast period. Moreover, large number of ongoing power generation projects, expansion of infrastructure, and technological advancements are expected to further drive industry growth in the Asia Pacific region.
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Latin America industrial gas regulator market is anticipated to witness a significant growth in the coming years. Countries such as Brazil, Mexico, and Argentina are the major producers & importers of natural gas and are likely to generate more demand for the industrial gas regulators. Furthermore, rising investment in oil & gas sector in the region is predicted to propel industry growth in the future years.
Some of the key players operating in industrial gas regulator market include Colfax Corporation, Cavagna Group S.p.A., Emerson Electric Co., Air Products and Chemicals, Inc., GCE Group, the Linde Group, Air Liquide, Itron, Inc., Praxair Technology, Inc., Airgas, Inc., and others.
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This report segments the global Industrial Gas Regulator Market as follows:
Global Industrial Gas Regulator Market: Type Segment Analysis
- Single Stage
- Dual Stage
Global Industrial Gas Regulator Market: Gas Type Segment Analysis
- Inert
- Corrosive
- Toxic
Global Industrial Gas Regulator Market: Material Segment Analysis
- Brass
- Stainless Steel
Global Industrial Gas Regulator Market: Application Segment Analysis
- Oil & Gas
- Chemical
- Medical Care
- Steel & Metal Processing
- Food & Beverages
Global Industrial Gas Regulator Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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