World Industrial Gas Handling Equipment Market to Post 6.82% CAGR through 2021, Projects M&M in Its Report Published at MarketPublishers.com05 May 2016 • by Natalie Aster
LONDON – The worldwide market for industrial gas handling equipment is poised for growth at 6.82% CAGR in value terms. Standing at USD 51.93 billion as of 2016, the sector is projected to amount to USD 72.22 billion by 2021. The important drivers of the growth comprise, amid others, a surge in the demand for industrial gases to be utilised in the medical and healthcare, metal fabrication, oil and gas, and chemical sectors.
Gas delivery systems represented the dominant segment within the total industrial gas handling equipment marketplace as of 2015; the segment is likely to maintain its market dominance in the foreseeable future. Due to the capability of providing effective control over purification, delivery pressures, and distribution of gases, the equipment are broadly utilised for the integrated handling of industrial gases from their sources to serving various end-user sectors.
With respect to geography, the North America region was the largest consumer of this equipment as of 2015; the region will likely continue to dominate the market in the offing. Meanwhile, the APAC market is forecast to see the fastest CAGR to 2020 on account of the booming metal fabrication industry owing to the soaring demand from automotive and household appliances industries, fast-paced industrialisation in the region, development of novel technologies and machineries within the healthcare and medical sector, and stringent governmental regulations with respect to environmental safety and safety of people at work.
Air Products And Chemicals, Inc., Messer Group GmbH, Praxair Inc., Iwatani Corporation, Linde AG, Colfax Corporation, Air Liquide S.A., Itron, Inc., Matheson Tri-Gas, Inc. and GCE Holding AB are the leading firms operating in the industry.
Topical report “Gas Equipment Market” prepared by M&M comprehensively analyses the marketplace, categorising it based on type, industrial gas, process, and by region; offering detailed revenue data for the entire market and its sub segments. The study covers detailed key factors affecting the industrial gas handling equipment market like drivers, limiters, challenges, and bright opportunities. It presents a granular analysis of the top 10 industry players, giving deep insights into their business lines, product/services, main strategies, launches of new products, M&As, partnerships, agreements, JVs, and latest developments with respect to the industry. The study also incorporates detailed market forecasts through to 2021.
More reports by M&M can be found at the publisher’s page.