Press release
Racket Sports Equipment Market Insights On Crucial Growth Challenges 2018 - 2026
The industrial gas handling equipment market has seen increased growth in recent years due to safety and security standards implemented across the industrial sector. The industrial gas handling equipment market is expected to witness significant growth due to increasing use of gases in healthcare & medical sectors, chemical, metal fabrication, mining, and oil & gas. In addition, increase in the implementation of total productive maintenance and good practices in different industries are anticipated to drive the global industrial gas handling equipment market during the forecast period.
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The global industrial gas handling equipment market can be classified based on type of gas, products, gas delivery system, end user, and region. Based on gas type, the market can be segmented into acetylene, argon, carbon dioxide, dry ice, helium, hydrogen, krypton, neon, oxygen, xenon, mixture gases, and others. In terms of product, the market can be classified into handling trucks, storage stands and process station, carts and mobile stands, support brackets, cylinder locker, barricades racks, forklift, flow devices, regulators, purifiers & filters, gas generators, and gas detection system among others.
It also includes other products such as diaphragm pump, check valves, cylinder connection, gas heaters, and electronic cylinder scales. Based on gas delivery system, the market is classified into gas & liquid delivery system, switchover, manifolds, gas cabinet, sensors, and control panel, among others. The global industrial gas handling equipment market based on end user can be classified into aerospace & aircraft, automotive & transport, chemicals, diving, electronics, energy, food & beverages, glass, healthcare, metal production, pharmaceuticals, refining, welding & metal fabrication among others.
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In terms of region, the global industrial gas handling equipment market is classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In North America, growth in the industrial sector has fueled demand for industrial gas handling equipment. In Europe and Asia, stringent regulatory practices for gas handling have boosted demand for industrial gas handling equipment. In Middle East & Africa, growth in the industrial sector especially in oil & gas is anticipated to boost demand for industrial gas handling equipment during the forecast period. South America is also estimated to be an attractive region of the industrial gas handling equipment market, owing to penetration of multiple industrial manufacturers in the region.
Major drivers of the global industrial gas handling equipment market are stringent norms for using safety handling equipment, growth in the industrial sector, reduced trading barrier, multipurpose use, and rising awareness about industrial gas handling equipment among industrial companies. However, a major restraint of the global industrial gas handling equipment market is ignorance about industrial gas handling. Nevertheless, new product development in industrial gas handling equipment and collaboration of market players with manufacturers are expected to create significant opportunities for the industrial gas handling equipment market.
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