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Gas Equipment Market


Packaging, Construction, Mining & Gases
Mining Minerals and Metals

MarketsandMarkets projects that the gas equipment market size will grow from USD 51.93 Billion in 2016 to reach USD 72.22 Billion by 2021, at an estimated CAGR of 6.82%. The global gas equipment market is driven by basic factors, which include strong growth in demand, especially in medical care, oil & gas, energy, and other sectors. These drivers are supported by the high rise in demand from the Asian healthcare industry. Product innovations and technological developments in the market are expected to create strong investment opportunities. Strict government standards and regulatory legislations have a positive impact on the safest and proper use of gas equipment. Rapid industrialization, growing concern toward the public health, and laws & regulations have propelled the growth of the gas equipment industry.

Gas equipment market, on the basis of equipment category, consists of gas delivery systems, gas regulators, flow devices, purifiers & filters, gas generating systems, gas detection systems, cryogenic products, and accessories. The gas delivery systems segment had the largest demand in 2015 and is expected to hold the leading position through the forecast period. However, cryogenic products segment is projected to be the fastest-growing market from 2016 to 2021.

On the basis of gas, the market has been categorized into atmospheric gases, hydrogen, acetylene, helium, and other gases which include carbon monoxide, krypton, neon, xenon, and nitrous oxide. The atmospheric gases segment recorded the largest consumption of gas equipment in 2015 due to the huge demand for this type of gases in the industrial applications. Hydrogen and acetylene gas have high potential as the demand for these gases is growing rapidly in the chemical, food processing, and metallurgical industries.

The end-use sectors for the market are chemical, metal fabrication, healthcare & medical, oil & gas, and others including food & beverage, automobile, and electronics industries. The demand from the chemical sector is projected to grow at the highest CAGR during the forecast period. The growing demand for industrial chemicals in diverse industrial applications has led to the increase in demand for gas equipment in this sector.

North America dominated the gas equipment market in 2015 and is projected to remain the market leader through 2021. The U.S. is the fastest growing country-level market, from 2016 to 2021. Asia-Pacific is the fastest growing region in the gas equipment market. Rising population of the region, along with rapid industrialization and infrastructural development, has propelled the growth of various industries such as metal fabrication, chemical, automotive, and electronics. This in turn has driven the growth of the market for gas equipment due to its diverse applications in these end-use sectors.

Gas Equipment Market

Technical issues and high cost due to the complication in the manufacturing process of gas equipment are the major restraints in the studied market. New product launch and acquisition were the major strategies adopted by most players in the gas equipment market. Companies such as Linde AG (Germany), Air Liquide S.A. (France), Praxair, Inc. (U.S.), Colfax Corporation (U.S.), Air Products and Chemicals, Inc. (U.S.), and GCE Holding AB (Sweden) were the key players who adopted this strategy to increase the reach of their offerings, improve their production capacity, and establish focus on core operations.

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