Nitrogen Generators Market Key Drivers, Growth and Opportunities to 2032 | Air Liquide, Air Products And Chemicals

Governments worldwide, particularly in developing nations, extend financial assistance and implement supportive policies to foster the growth of their domestic industrial sectors. An illustrative example is Argentina's introduction of the 'Argentine Credit Programme' in October 2022, allocating $3.2 billion to facilitate the expansion of small and medium-sized enterprises (SMEs) as well as large industrial and agro-industrial enterprises for investment and import substitution initiatives. Such initiatives not only increase the proliferation of industrial facilities within a nation but also create favorable conditions for the nitrogen generators market.

Similarly, Vietnam has embarked on the construction of approximately 400 industrial parks across the country as of November 2022. This strategic endeavor is expected to have a positive impact on the nitrogen generators market, given their indispensable role in various industrial applications. These generators offer dependable and efficient cooling solutions crucial for maintaining optimal temperatures and preventing equipment malfunctions. Consequently, the growth of the manufacturing industry serves to bolster the nitrogen generators industry.

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The nitrogen generators market size was valued at $8.1 billion in 2020, and is estimated to reach $14.6 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.

The nitrogen generators market is assessed across three primary types: Pressure Swing Adsorption (PSA) nitrogen generators, membrane nitrogen generators, and cryogenic nitrogen generators. Among these technologies, the PSA nitrogen generator segment dominated the market share in 2020. This preference is attributed to the ease of operation and high purity rates offered by PSA nitrogen generators, making them the preferred choice for numerous manufacturers seeking to produce nitrogen within their facilities.

The market is mainly driven by growth of global manufacturing industry and increase in investment in food & beverage, pharmaceutical and chemical processing industry. Contrarily, growth in electronics industry is anticipated to be a major nitrogen generators market opportunity.

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Small and large scale industries utilize nitrogen generators. Food & beverage industry uses nitrogen to fill inside their packaged foods to prevent them from foiling. On the other hand, the transportation industry requires nitrogen for filling in tires to improve the performance of tires.

The transportation industry also uses nitrogen during the transportation of hazardous goods. Nitrogen helps in modifying the environment surrounding the hazardous material. Moreover, medical and pharmaceutical industries are among the major users of nitrogen, as this gas is useful during the laboratory tests, and to prevent the organs and other biologics from getting foiled.

The electrical & electronics industry utilize nitrogen gas to prevent oxidation during semiconductor manufcaturing. Furthermore, chemicals industry uses nitrogen to modify the environment surrounding hazardous oil and gas. In 2020, the chemicals segment dominated the nitrogen generators market, in terms of revenue. Chemical industry is known for handling very hazardous process which is not properly handled can lead to a catastrophe. Nitrogen gas is one of the ways to prevent any mishap including reaction with oxygen in the process.

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Key Players:
The key players profiled in the nitrogen generators market report include Air Liquide, Air Products And Chemicals, Inc., Atlas Copco AB, Hitachi Industrial Equipment Systems Co., Ltd., Linde PLC, NOVAIR S.A.S, On Site Gas Systems, Inc., Parker-Hannifin Corporation, Peak Gas Generation, and PCI.

KEY FINDINGS OF THE STUDY

The report provides an extensive analysis of the current and emerging nitrogen generators market trends and dynamics.
On the basis of type, the PSA nitrogen generator dominated the nitrogen generators market, in terms of revenue in 2020 and the membrane nitrogen generator segment is projected to grow at a significant CAGR during the forecast period.
On the basis of end user, the chemical segment registered highest revenue in 2020.
Asia-Pacific is projected to register highest growth rate in the coming years.
The key players within the nitrogen generators market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the nitrogen generators industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.

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