Gas Equipment Market Poised for 7.3 % Growth, Set to Hit $6.13 Billion by 2029

How Are the key drivers contributing to the expansion of the gas equipment market?
The growth of the gas equipment market is being fuelled by the rising demand for industrial gases for various uses. These gases are produced specifically for a range of industrial applications such as manufacturing, oil refining, cleaning, and transport, many of which stipulate larger cylinders for supply. These gases can be offered either in their pure state or blended with others and stored in alternative manners. Among the industrial gases used for numerous applications are oxygen, nitrogen, hydrogen, and carbon dioxide. Carbon dioxide, in particular, can be efficiently utilized in a multitude of procedures such as enhancing oil recovery, fuel production, construction material creation, among others or it could be preserved in underground geological formations. The need to capture carbon dioxide (CO2) means that Carbon Capture and Storage (CCS) facilities require diverse gas equipment, thereby further stimulating demand in the gas equipment market. For example, a study from ScienceDirect, a global scientific, technical, and medical research database reported that the demand for carbon dioxide is forecasted to increase to 0.6 gigatonnes by 2030, escalating to 6.1 gigatonnes by 2050. This surge in demand for industrial gases for a myriad of applications is predicted to drive the growth of the gas equipment market in the forthcoming years.

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What growth opportunities are expected to drive the gas equipment market's CAGR through 2034?
In past few years, the size of the gas equipment market has seen a robust growth. This market is predicted to expand from a value of $77.32 billion in 2024 to approximately $82.54 billion in 2025, marking a compound annual growth rate (CAGR) of 6.8%. Reasons for this growth during the historic period include trade liberalization, initiatives in research and development, discoveries of natural gas, infrastructure development, and overtime regulatory changes.

Over the coming years, the gas equipment market is projected to witness robust expansion. The market value is predicted to reach $109.3 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.3%. Factors contributing to the expansion during the forecast period include concerns related to energy security, an increase in population, transition to renewable gas, digital transformation, and government subsidies. The forecast period will also see predominant trends such as practices of the circular economy, the adoption of decentralized energy solutions, incorporation of smart infrastructure, carbon capture and storage (CCS), and the integration of hybrid gas-electric systems.

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What are the emerging trends shaping the future of the gas equipment market?
The growth of the gas equipment market is strongly influenced by a significant trend pertaining to technological enhancements. Renowned companies in this field are prioritizing the development of innovative technological solutions to bolster their market presence. A prime example is the American compressed gas safety and management company SuperFlash LLC, which debuted its novel, compact, and mobile gas analyser, the GA300, in January 2022. This new device is ideal for systems that lack a built-in analyser, enabling the careful analysis of different gas mixtures crucial for food, beverage, and a plethora of industrial manufacturing processes. Characterized by easily understood menus and a digital LCD display, the lightweight, robust, and easily maintained GA300, made for easy portability, offers a user-friendly experience. Despite its light weight of just over 13 lbs, it's designed for continuous gas mix monitoring, capable of observing up to 10 binary gas mixtures. Additionally, the GA300 can record, document, and integrate data into the quality assurance process, further enhancing its capability of precise gas mixture analysis.

Which growth-oriented segments of the gas equipment market are leading the industry's development?
The gas equipment market covered in this report is segmented -

1) By Equipment Type: Gas Delivery Systems, Gas Regulators, Flow Devices, Purifiers And Filters, Gas Generating Systems, Gas Detection Systems, Cryogenic Products, Accessories
2) By Gas: Nitrogen, Hydrogen, Helium, Oxygen, Carbon Dioxide, Others Gases
3) By Process: Generation, Storage, Detection, Transportation
4) By End-User: Metal Fabrication, Chemical, Healthcare And Medical, Oil And Gas, Other End Users

Subsegments:
1) By Gas Delivery Systems: Cylinder Regulators, Piping And Distribution Systems
2) By Gas Regulators: Pressure Regulators, Flow Regulators
3) By Flow Devices: Flow Meters, Mass Flow Controllers
4) By Purifiers And Filters: Gas Purifiers, Particle Filters
5) By Gas Generating Systems: Oxygen Generators, Nitrogen Generators
6) By Gas Detection Systems: Fixed Gas Detectors, Portable Gas Detectors
7) By Cryogenic Products: Cryogenic Tanks, Cryogenic Valves And Accessories
8) By Accessories: Hoses And Fittings, Safety Equipment

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What regions are leading the charge in the gas equipment market?
North America was the largest region in the gas equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gas equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the gas equipment market?
Major companies operating in the gas equipment market include Nippon Sanso Holdings Corporation., Linde plc, Air Liquide S.A., ABB Ltd., Parker Hannifin Corporation, Atlas Copco AB, Praxair Inc., Iwatani Corporation, Colfax Corporation, Donaldson Company Inc., Matheson Tri-Gas Inc., Messer SE & Co. KGaA, Chart Industries Inc., Filtration Group Inc., Camfil AB, Johnson Thermal Systems Inc., GCE Holding AB, Cryostar SAS, FIBA Technologies Inc., Xebec Adsorption Inc., Gas Control Equipment Ltd., Hannay Reels Inc., Rexarc International Inc., Welsco Inc., Advanced Specialty Gases., Gasco Affiliates LLC, Generon IGS Inc., Global Gases Group Pte Ltd., Haskel International Inc.

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What Is Covered In The Gas Equipment Global Market Report?

•Market Size Forecast: Examine the gas equipment market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the gas equipment market for a structured understanding.
•Key Players Overview: Analyze major players in the gas equipment market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the gas equipment market.
•Segment Contributions: Evaluate how different segments drive overall growth in the gas equipment market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the gas equipment market.
•Industry Challenges: Identify potential risks and obstacles affecting the gas equipment market.
•Competitive Landscape: Review strategic developments in the gas equipment market, including expansions, agreements, and new product launches.

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