Press release
Global Oxygen Market Current Trends, Sales, Shares And New Opportunities Report 2021 - 2030
Oxygen Market
The global oxygen market reached a value of nearly $27,741.8 million in 2019, having increased at a compound annual growth rate (CAGR) of 6.1% since 2015. The market is expected to decline from $27,741.8 million in 2019 to $27,548.0 million in 2020 at a rate of -0.7%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is also restrained due to uncertain demand from the industrial sector due to uncertain demand. The market is then expected to recover slightly and grow at a CAGR of 0.11% from 2021 ad reach $27,482.3 million in 2023. The market is expected to reach $30,052.0 million in 2025, and $ 36,553.2 million in 2030.
The key drivers of the oxygen market include:
The increased demand for portable oxygen driven by home healthcare is expected to drive the market. A portable oxygen concentrator is a medical device that helps individuals with a low level of blood oxygen. The device is used to provide oxygen therapy to people that require greater oxygen concentrations than the levels of ambient air. The factors fueling the demand for portable oxygen concentrators is an increasing prevalence of chronic obstructive pulmonary diseases, growing consumer awareness for oxygen therapy devices, a changing consumer lifestyle, and a rise in investment by manufacturing companies towards the production of homecare products. People are also increasingly using oxygen pods or oxygen therapy for anti-ageing applications.
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Oxygen Market Segmentation: -
By Type-
a) Medical Oxygen
b) Industrial Oxygen
c) Others
By Application -
a) Mineral Processing
b) Automobiles
c) Healthcare
d) Cosmetics
e) Mining
f) Pharmaceuticals
g) Others
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By Geography - The oxygen market is segmented Into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa
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Some of the major key players involved in the oxygen market are
1. Air Liquide
2. The Linde Group
3. Mitsubishi Chemical Holdings Corporation
4. Air Products and Chemicals Inc.
5. Yingde Gases
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