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Nitrogen Generators Market is Expected to Reach $17.43 Billion by 2026 | Air Products and Chemicals, Inc., Atlas Copco AB, Hitachi Industrial Equipment Systems Co., Ltd., L’Air Liquide S.A.

06-22-2020 04:50 PM CET | Energy & Environment

Press release from: allied market research

Nitrogen Generators Market is Expected to Reach $17.43 Billion

The development of the industrial sector and an increase in demand for nitrogen generators in the semiconductor & electronics industry are anticipated to fuel the growth of the global nitrogen generators market in the coming years.

The global nitrogen generators market size was $11,776.1 million in 2018 and is projected to reach $17,435.5 million in 2026, growing at a CAGR of 4.9%. The PSA nitrogen generator segment accounted for over two-fifths of the market share in 2018 and is expected to witness significant growth during the nitrogen generators market forecast period.

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North America accounted for the highest revenue in 2018 compared to other regions, due to upsurge in the adoption of nitrogen generators in major sectors such as food & beverage and medical & pharmaceuticals. In Asia-Pacific and Europe, nitrogen generator acre majorly applicable across industries such as transportation, electrical & electronics, and military.

The food & beverage segment is expected to garner the largest share in the global market during the forecast period, owing to an increase in the adoption of nitrogen generators to inhibit bacterial growth, maintain the freshness of food for a prolonged period, and offer a controlled atmosphere for storage of vegetables & fruits.

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Industry Money Makers
• Air Products and Chemicals, Inc.
• Hitachi Industrial Equipment Systems Co., Ltd.
• Atlas Copco AB
• Linde
• L'Air Liquide S.A.
• Oxymat A/S
• NOVAIR S.A.S
• On Site Gas Systems, Inc.
• Peak Gas Generation
• Parker-Hannifin Corporation

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 an increase in applications of nitrogen generators in the chemical industry such as purging and blanketing.

However, the food & beverage segment dominated the global nitrogen generators market in 2018, contributing to nearly one-fourth of the market, due to the rise in the number of food & beverage plants globally and dependency of the industry on nitrogen gas to preserve freshness and prevent spoilage of products.

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Key players in the nitrogen generators market adopted product launch and expansion as their key strategies to meet the growing consumer demands. For instance, in June 2018, Peak Scientific launched GENIUS XE, an advanced N2 generator suitable for high-performance analytical applications, which include triple-quadrupole LC-MS.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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