Industrial Gas Regulator Market : Granular View of The Market from Various End-Use Segments
Thus, the rise in industrial and manufacturing activities is expected to boost the demand for industrial gas regulators in the coming years. According to the research report, the U.S. industrial gas regulators market was worth $2.3 bn in 2015 and is expected to reach a valuation of US$3.0 bn by the end of 2024. The overall market is expected to witness a rise of 3% CAGR between 2016 and 2024.
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Usage of Natural Gas as Fuel Sparks Demand for Industrial Gas Regulators in U.S.
The increasing usage of natural gas a key fuel for various industrial processes is expected to trigger a demand for industrial gas regulators in the coming years. The overall market also stands to benefit from the flourishing oil and gas, chemical, steel and metal, and automotive industries. As industries are using natural gas to run boilers and furnaces, they are expected to make use of gas regulators. This will be an emerging trend across industries such as food and beverages, refining, manufacturing, and many others.
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Oil and Gas Industry Shows Continued Demand for New and Improved Products
Between the years of 2016 and 2024, the oil and gas industry is anticipated to lead the U.S. industrial gas regulators market. This dominance will be due to the increasing demand for new, improved, and advanced gas regulators for maintaining gas pressure during varying temperatures. This demand will also be driven by the need for improved safety in high pressure conditions in various industrial processes.
Meanwhile, the chemical and pharmaceutical segments are also estimated to offer adequate growth opportunities to the U.S. industrial gas regulators market as vendors are specifically designing these devices for handling specialty gas and to maintain gas desired pressure. Thus, consumption of industrial gas regulators is poised to witness a spike in the coming years.
Single Stage Regulators Lead Market due to Widening Applications
On the basis regulator, the U.S. industrial gas regulators market is segmented into single stage and dual stage. Of these, the single stage regulators segment is estimated to do phenomenally well as compared to the dual stage segment.
Some of the key players operating in the U.S. industrial gas regulators market are Emerson Electric Co., Air Liquide S.A., The Linde Group, Praxair Technology, Inc., Air Products and Chemicals Inc., Cavagna Group Spa., GCE Group, Rotarex S.A., Honeywell Process Solutions and Itron, Inc. The competitive landscape of the overall market is quite fragmented due to the presence of several players.
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