Nitrogen Generators Market is going to Boom | Gaining Revolution with Major Technology Giants

According to the report, the global nitrogen generators industry accounted for $11.77 billion in 2018, and is projected to reach $17.43 billion by 2026, registering a CAGR of 4.9% from 2019 to 2026.

PSA nitrogen generator dominated the market

By generation type, the PSA nitrogen generator segment held the largest share in 2018, contributing to around half of the global nitrogen generators market, owing to increase use of PSA nitrogen generators across plastic molding industry and food & beverage industry and advantages offered by this generator such as convenience, consistency & reliability, and low operating costs.

Prime determinants for a growing market

Cost-saving and sustainability offered by nitrogen, development of the manufacturing sector, and increase in employee safety have boosted the growth of the global nitrogen generators market. However, threat of substitutes hampers the market growth. On the contrary, technological advancements are expected to create lucrative opportunities in the near future.

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Chemicals segment to manifest the fastest growth

By end users, the chemical segment is projected to portray the fastest CAGR of 6.0% during the forecast period, owing to increase in applications of nitrogen generators in the chemical industry such as purging and blanketing.

North America held the largest share

The global nitrogen generators market across North America held the largest share in 2018, accounting for nearly two-fifths of the market, owing to huge demand for nitrogen generators in the food & beverage, laboratories, and aviation industries.

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Key Findings of the Nitrogen Generators Market:

o Based on generator type, the PSA nitrogen generator segment was the largest revenue contributor in 2018.
o By end-user industry, in 2018, the food & beverage segment generated the highest revenue, accounting for almost one-fifth of the market, and is projected to grow at a substantial CAGR from 2019 to 2026.
o Region wise, Asia-Pacific is expected to exhibit fastest growth during the study period.

The key players profiled in this report include Air Products and Chemicals, Inc., Atlas Copco AB, Hitachi Industrial Equipment Systems Co., Ltd., L'Air Liquide S.A., Linde, NOVAIR S.A.S, On Site Gas Systems, Inc., Oxymat A/S, Parker-Hannifin Corporation, and Peak Gas Generation.

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