Nitrogen Generators Market Register at a CAGR of 4.9% to Reach $17,435.5 Million in 2026
October 13, 2021
COVID-19 Pandemic disrupted the entire world and affected many industries. Get detailed COVID-19 impact analysis on the Nitrogen Generators MarketPORTLAND, OR, UNITED STATES, October 13, 2021 /EINPresswire.com/ -- Nitrogen generators are used to generate high purity nitrogen gas of 99.995%. The demand for nitrogen generators has been witnessed to increase across the globe, as they serve as an economical method, prevent gas wastage, and offer enhanced safety. Furthermore, development of the medical industry in economies such as the U.S., China, and India drive the growth of the nitrogen generators industry.
The global nitrogen generators market size was $11,776.1 million in 2018, and is projected to reach $17,435.5 million in 2026, growing at a CAGR of 4.9%.
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Nitrogen generators find their major application in aviation, electronics, and chemical industries. Hence, the escalating adoption of nitrogen generators is expected to boost the development of the industry. However, traditional nitrogen supply methods such as nitrogen cylinders and newer substitutes such as nitrogen tire inflation equipment are anticipated to hinder the growth of the industry. On the contrary, technological advances such as combining wireless technology in the generators are anticipated to generate lucrative opportunities for the nitrogen generators market growth.
North America accounted for the highest revenue in 2018 compared to other regions, due to upsurge in adoption of nitrogen generators in major sectors such as food & beverage and medical & pharmaceuticals. In Asia-Pacific and Europe, nitrogen generator acre majorly applicable across industries such as transportation, electrical & electronics, and military.
Key Market Players
Air Products and Chemicals, Inc.
Atlas Copco AB
Hitachi Industrial Equipment Systems Co., Ltd.
L’Air Liquide S.A.
On Site Gas Systems, Inc.
Peak Gas Generation
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Key Market Segments
By Generator Type
PSA Nitrogen Generator
Membrane Nitrogen Generator
Cryogenic Nitrogen Generator
By End-user Industry
Food & Beverage
Medical & Pharmaceuticals
Electrical & Electronics
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