Press release
Oxygen Global Market Shortenings Global Market Navigating Trends, Market Size, and Future Outlook 2024-2033 | Air Liquide, The Linde Group, Yingde Gases, The BOC Group PLC, Air Water Inc.
Oxygen Global Market Shortenings Global Market
The Business Research Company presents an extensive market research report on the Oxygen Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The oxygen market size has grown rapidly in recent years. It will grow from $39.28 billion in 2023 to $44.3 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to strong economic growth in emerging markets, a rise in industrialization, an increased demand for medical oxygen due to covid-19, an increasing focus on home healthcare and an increasing demand from the aerospace industry.
The oxygen market size is expected to see rapid growth in the next few years. It will grow to $70.65 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to increasing government support, an increasing aging population, rising air pollution levels and an increasing demand for oxygen from the healthcare industry. Major trends in the forecast period include launch of iot (internet of things)-enabled medical oxygen plants, increasing investments, advancements in oxygen generators, the emergence of high-flow nasal therapy, launch of air separation plants and strategic shift to portable oxygen concentrators.
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Key Market Players:
Major companies operating in the oxygen market report are Air Liquide, The Linde Group, Mitsubishi Chemical Holdings Corporation, Air Products and Chemicals Inc, Yingde Gases, The BOC Group plc, Air Water Inc., Messer Group GmbH, Iwatani International Corporation, Guangdong Huate Gas Co., Ltd, ResMed, Nidek Medical industries, Praxair Inc, Core Industrial Gases, Taiyo Nippon Sanso, AMCS Corporation, Flogas Britain Ltd, NGK Spark Plug Co, Ltd, WIKA Alexander Wiegand SE & Co. KG, SOL SpA, Supagas, GRASYS, Invacare corporation, Inogen Inc, Drive deviibiss industries, Oxair, SAID Group, Matheson Tri-Gas, Messer Gases del Peru S.A., BOC Healthcare, Gulf Cryo, Buzwair, Gas Africa, Afrox
Market Drivers:
The increasing prevalence of various diseases related to breathing problems has contributed to the global oxygen market's growth by increasing the use of oxygen for medical purposes. Diseases such as Chronic obstructive pulmonary disease (COPD) are more prevalent in the geriatric population. COPD is a type of obstructive lung disease that results in long-term breathing problems. COPD requires the use of an oxygen concentrator, which is a device that improves the level of oxygen in the blood of patients and addresses their breathing problems. According to the World Health Organization (WHO), in 2022, the number of persons aged 80 years or older is expected to triple by 2050 to reach 426 million. Thus, the increased number of such cases has spurred the demand for portable oxygen concentrators, which is therefore driving the oxygen market's growth.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/oxygen-global-market-report
The oxygen market covered in this report is segmented -
1) By Product: Medical Oxygen, Industrial Oxygen, Other Product Types
2) By Form: Companion Animals, Livestock
3) By Application: Cosmetics, Pharmaceutical, Automobiles, Mining And Mineral Processing, Healthcare, Other Applications
4) By End-User Industry: Metallurgical Industry, Chemical Industry, Health Care Industry, Other End-User Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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