Industrial Oxygen Market to Obtain Overwhelming Growth of USD 125,031.34 Million by 2029, Size, Share, Trends, Growth Opportunities and Competitive Outlook
Data Bridge Market Research analyses that the industrial oxygen market is expected to undergo a CAGR of 8.50% during the forecast period. This indicates that the market value, which was USD 65,100.00 million in 2021, would rocket up to USD 125,031.34 million by 2029
CALGARY, June 05, 2023 (GLOBE NEWSWIRE) -- Data Bridge Market Research has recently published a Report, titled, "Industrial Oxygen Market" The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. The superior Industrial Oxygen Market report provides a complete background analysis of the industry, which includes an assessment of the parental Market. The market research report is very helpful for business development as it assists with better leadership, improving income age, and organizing Market objectives and results in a successful business. All the statistical and numerical data of this report, which is calculated with the most established tools such as SWOT analysis, is represented with the help of graphs and charts for the best user experience and clear understanding. While creating the Industrial Oxygen Market research report, Markets on the local, regional as well as global level are explored.
The universal Industrial Oxygen Market analysis document puts light on various segments that are relied upon to witness the quickest business development amid the estimated forecast frame. Best-in-class data have been exhibited in this report, which causes the Industrial Oxygen industry to be proficient about the kinds of buyers, consumer requests and inclinations, their points of view about the item, their purchasing goals, their reaction to a specific item, and their different tastes about the particular item present in the Market. The top-notch Industrial Oxygen Market research report studies key opportunities in the Market and influencing factors, which is valuable for businesses.
Data Bridge Market Research analyses that the industrial oxygen market is expected to undergo a CAGR of 8.50% during the forecast period. This indicates that the market value, which was USD 65,100.00 million in 2021, would rocket up to USD 125,031.34 million by 2029.
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Industrial oxygen is a type of oxygen that is used in industrial purposes such as manufacturing plants, for tasks that may include oxidation, combustion and even to help accelerate certain chemical reactions.
Industrial oxygen has been widely used in many applications such as in the medical, food, metal making, and pharmaceutical sectors, and it is also been used in the manufacturing of pulp. A range of technologies are used to generate high-purity oxygen, including pressure swing adsorption, cryogenic separation, and membrane technology. The use of industrial oxygen in the glass sector has also a large part of demand in the whole market. The key application areas of industrial oxygen are in oxidation, combustion, and fermentation.
Opportunities:
- Industrial Oxygen Manufacturers Adopting IoT Technology
Many industrial oxygen manufacturers are adopting IoT (Internet of Things) technologies to connect smart devices and equipment to locate gaps and garner real-time insights in the manufacturing process. The data obtained is analyzed, processed and interpreted by the senior level management and plant managers to achieve optimum production levels and improve quality. For instance, smart systems give information on the performance of chemical reactors working condition with embedded analytics tools and software to notify plant managers and operators on possible machine breakdowns. Some of the key companies adopting IoT include Air Liquide and Linde Gases.
Recent Development:
- In April 2021, Air Liquide S.A. which is the French industrial gas giant has announced that they will supply most of its liquid oxygen to the healthcare and medical sector and plans to import supplies from the Asia-Pacific region
Some of the major players operating in the Industrial Oxygen market are:
- Air Liquide S.A. (France),
- HangZhou Oxygen plant group (China)
- Praxair Technology Inc., (U.S.)
- AIR WATER INC (Japan)
- Linde Plc (Ireland),
- Messer Group (Germany
- SCG (Thailand)
- Taiyo Nippon Sanso Corporation (Japan)
- Air Products Inc. (U.S.)
- Airgas Inc, (U.S.)
- Gulf Cryo (U.A.E.)
- Yingde Gases Group (China),
- Air Products and Chemicals Inc. (U.S.)
- Universal Industrial Gases Inc, (U.S.)
- Axcel Gases (U.S.)
- International Industrial Gases Ltd (India)
- SOL Group (Italy)
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The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the Industrial Oxygen market
Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Industrial Oxygen Market
Market Drivers: Industrial Oxygen Market
- Growth of end-user industry
The development of end-user sectors such as metalworking and welding, healthcare, chemistry and construction and metallurgy and the steel and iron industry are expected to drive the growth of the industrial oxygen market during forecast period.
- Rise the demand in chemical sector
Industrial oxygen is high in demand because it is widely used in chemical sector as raw material during the chemical reaction. It is used as an oxidizing agent for the production of several chemicals. It is also used by mining companies to blast off the rocks. Also, gaseous oxygen is used to support rocket fuel combustion in spaceships and liquid industrial oxygen is used as a fuel bipropellant vehicle. The rising demand in the chemical sector is expected to drive the market's growth rate.
- Rising demand in the healthcare sector
The constantly increasing demand of industrial oxygen after purification process in healthcare and medical sector has been increasing the sales of industrial oxygen which are expected to drive the revenue growth of the industrial oxygen market
The report includes seven parts, dealing with:
- Basic information
- The Asia Pacific Industrial Oxygen Market
- The North America Industrial Oxygen Market
- The Europe Industrial Oxygen Market
- MEA Industrial Oxygen Market
- Market entry and investment feasibility
- The report conclusion
All the research report is made by using two techniques that are Primary and secondary research. There are various dynamic features of the business, like client need and feedback from the customers. Before (company name) curate any report, it has studied in-depth from all dynamic aspects such as industrial structure, application, classification, and definition.
Restraints/Challenges
- Increasing environmental concern
However, during industrial oxygen production, a large amount of electricity is used and needs sophisticated and large equipment to purify, separate and store these gases, which creates a problem to the steady growth of the industrial oxygen market.
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Key Industry Segmentation: Industrial Oxygen Market
Product
- Compressed Oxygen Gas
- Liquefied Oxygen
Usage
- Welding
- Cutting
- Flame Cleaning,
- Steel Production
End User
- Automotive and Aerospace
- Chemical Processing
- Energy
Regional Analysis/Insights: Industrial Oxygen Market
The industrial oxygen market is analysed and market size insights and trends are provided by country, product, usage and end user as referenced above.
The countries covered in the industrial oxygen market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the industrial oxygen market due to the growing number of cancer patients and increasing demand for non-medical applications such as in the field of food security.
Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the rising elderly population and growing healthcare expenditure in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Industrial Oxygen Market: Regulations
- Market Overview
- Global Industrial Oxygen Market, By Product
- Global Industrial Oxygen Market, By Usage
- Global Industrial Oxygen Market, By End User
- Global Industrial Oxygen Market, By Region
- Global Industrial Oxygen Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
To Check the Complete Table of contents, click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-industrial-oxygen-market
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