Press release
Gas Pressure Regulator Market is expected to reach US$ 2.4 Bn in the year 2023
Gas Pressure Regulator Market
The gas pressure regulator market is expected to reach US$ 2.4 Bn in the year 2023, thereby placing itself as the "high value" market. 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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The Gas Pressure Regulator Market is growing rapidly as natural gas usage increases worldwide. Gas pressure regulators are used to control the flow of pressurized gas from the supply line to a desired pressure and rate. Gas pressure regulators are found in residential, commercial, and industrial applications including pipelines, boilers, furnaces, water heaters, compressors, burners, stoves, and more.
Homeowners and businesses are increasingly using natural gas for heating and cooking needs due to its affordability and environmental benefits compared to other sources of energy like electricity or fuel oil. This has created a strong demand for Gas Pressure Regulators that can accurately regulate gas flows in both residential and commercial settings.
Key Companies-
• Honeywell International
• Air Liquide SA
• Itron Inc.
• Emerson Electric Co.
• Xylem
• Air Products and Chemicals, Inc.
• Rotarex SA
• ESAB
• Watts Water Technologies, Inc.
• Linde plc.
• Matheson Tri-Gas, Inc.
• Medenus Gas-Druckregeltechnik GmbH
• Pietro Fiorentini S.p.a
• Essex Industries, Inc.
• Greggersen Gasetechnik GmbH
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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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