The Industrial Gas Regulators Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Industrial Gas Regulators Global Market Report 2024, The industrial gas regulators market size has grown strongly in recent years. It will grow from $16.48 billion in 2023 to $17.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to growth in industrialization and manufacturing activities, increasing use of industrial gases in various applications, need for precise pressure control and regulation in processes, expansion of chemical, petrochemical, and pharmaceutical industries, demand for reliable and high-performance gas handling equipment.
The industrial gas regulators market size is expected to see strong growth in the next few years. It will grow to $22.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to transition to specialty gases and high-purity gases in industries, integration of smart and iot-enabled regulators for monitoring and control, focus on energy efficiency and sustainable gas handling solutions, adoption of alternative fuel gases in energy and transportation sectors, expansion of gas handling in healthcare and life sciences applications. Major trends in the forecast period include integrated pressure and flow control, high-precision and ultra-high-purity regulators, electronic and digital pressure regulation, remote monitoring and control via iot, dual-stage and multi-stage pressure regulation.
Rapid industrialization is expected to propel the growth of the industrial gas regulator market going forward. Industrialization refers to an economy’s transformation from one focused mostly on agriculture to one based on the production of goods. Industrialization has transformed the economy with the production of a variety of goods in various industries, and industrial gas regulators are one of them. For instance, in March 2022, according to the United Nations Industrial Development Organization, an Austria-based specialised agency, global manufacturing production increased by 9.4 % in 2021, after the pandemic-related drop of 4.2 percent in 2020. Further, by March 2022, according to the India Brand Equity Foundation (IBEF), an India-based government export promotion agency, Indian manufacturing hubs will reach more than $500 billion by 2030. Many companies have started producing their products in India, such as the first solar company started a plant in Tamil Nadu. Zoho invested $13.4 million in R&D manufacturing. Therefore, rapid industrialization is driving the industrial gas regulator market.
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The industrial gas regulators market covered in this report is segmented –
1) By Type: Single Stage, Dual Stage
2) By Gas: Inert, Corrosive, Toxic
3) By Material: Brass, Stainless Steel
4) By Application: Oil and Gas, Chemical, Steel and Metal Processing, Medical Care, Food and Beverages, Other Applications
Technological advancement is a key trend gaining popularity in the industrial gas regulator market. Major companies in the industrial gas regulator market are developing new technologies to strengthen their position. For instance, in April 2021, The Cavagna Group, a UK-based company operating in industrial gas regulators, launched the Viproxy i-1Touch, a brand-new digital valve for medical oxygen therapy with a smart IoT add-on and a unique, smart medical VPR that has data transmission capabilities. The Viproxy i-1Touch valve includes an integrated pressure regulator as well as a digital pressure gauge.Its digital gauge will clearly display all parameters monitored during use and send audible alerts.
The industrial gas regulators market report table of contents includes:
- Executive Summary
- Industrial Gas Regulators Market Characteristics
- Industrial Gas Regulators Market Trends And Strategies
- Industrial Gas Regulators Market – Macro Economic Scenario
- Global Industrial Gas Regulators Market Size and Growth
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- Global Industrial Gas Regulators Market Competitive Benchmarking
- Global Industrial Gas Regulators Market Competitive Dashboard
- Key Mergers And Acquisitions In The Industrial Gas Regulators Market
- Industrial Gas Regulators Market Future Outlook and Potential Analysis
- Appendix
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