Electromobility to be the buzzword for Gas Pressure Regulator Market at a CAGR of 4%

As a result, utilization of gas pressure regulators in diverse industries is expected to surge. According to a research report released by Persistence Market Insights, the gas pressure regulators market is expected to witness 4% CAGR during the forecast period (2019-2029).

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Notable Insights from Gas Pressure Regulators Market Study

Global manufacturers of gas pressure regulators are focusing on increasing their B2B distribution channels, owing to increasing demand from various sectors such as oil & gas, chemicals & materials, and other gas utilities.

On the other hand, customer-centric approach by maximizing services and product offerings is the primary focus of regional/local manufacturers. Moreover, market players are offering application-specific products to gain maximum customers.

Increasing implementation of gas pipeline services in residential and commercial sectors is expected to bolster the demand for various types of gas pressure regulators during the forecast period.

By gas type, the fuel gases segment is projected to account for more than one-third of the total market share, owing to high use of gas pressure regulators in the production of fuel gases. Also, overall production of fuel gases is relatively high as compared to other gases.

According to our research, stainless steel and brass are majorly used metals in the manufacturing of gas pressure regulators. Stainless steel is used in higher-purity applications, or when gas compatibility with brass is an issue, whereas, brass gas pressure regulators are used for inert gases or for non-corrosive gases.

"It is very unsafe to let high pressure gases flow from one system to another without reducing pressure; therefore, the use of a gas pressure regulator becomes mandatory when using/supplying gases in industrial, residential, or commercial applications," says a PMR analyst.

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Gas Pressure Regulators Market: Competitive Landscape

The gas pressure regulators market is fairly fragmented, as a large number of players are offering products for diverse applications. Key manufacturers such as Honeywell International, Air Liquide SA, Linde, Emerson Electric Co., and Itron Inc. account for around one-fourth of the overall market share. In the current scenario, North America and Europe are anticipated to account for a significant share of the global gas pressure regulators market, owing to expanding gas utilities as a result of increasing demand for residential and commercial applications.

Superior Characteristics of Gas Pressure Regulators

Wide range of applications of gas pressure regulators are shaping market growth positively. Manufacturers are offering diverse sizes gas pressure regulators for applications in medical, manufacturing, water treatment, automotive, mining, and others. Players are focusing more on product development strategies to sustain their positions in the highly competitive market.

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This release was published on openPR.