Nitrogen Generators Market Registering a CAGR of 4.4% to 2030.

PORTLAND, OR, UNITES STATES, October 30, 2023 /EINPresswire.com/ -- Cost-saving and sustainability offered by nitrogen, development of the manufacturing sector, and increase in employee safety have boosted the growth of the global nitrogen generators market. On the contrary, technological advancements are expected to create lucrative opportunities in the near future.

According to the report, the global nitrogen generators industry accounted for $11.77 billion in 2018, and is projected to reach $17.43 billion by 2026, registering a CAGR of 4.9% from 2019 to 2026.

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PSA nitrogen generator dominated the market
By generation type, the PSA nitrogen generator segment held the largest share in 2018, contributing to around half of the global nitrogen generators market, owing to increase use of PSA nitrogen generators across plastic molding industry and food & beverage industry and advantages offered by this generator such as convenience, consistency & reliability, and low operating costs. However, the membrane nitrogen generator segment is projected to register the fastest CAGR of 5.1% during the forecast period, owing to rise in the adoption of these generators in healthcare and chemical industries.

Chemicals segment to manifest the fastest growth

By end users, the chemical segment is projected to portray the fastest CAGR of 6.0% during the forecast period, owing to increase in applications of nitrogen generators in the chemical industry such as purging and blanketing. However, the food & beverage segment dominated the global nitrogen generators market in 2018, contributing to nearly one-fourth of the market, due to rise in number of food & beverage plants globally and dependency of the industry on nitrogen gas to preserve freshness and prevent spoilage of products.

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North America held the largest share
The global nitrogen generators market across North America held the largest share in 2018, accounting for nearly two-fifths of the market, owing to huge demand for nitrogen generators in the food & beverage, laboratories, and aviation industries. However, the market across Asia-Pacific is expected to manifest the fastest CAGR of 5.8% during the study period, owing to the presence of emerging economies and several end-use industries such as automotive, food & beverage, electronics, and oil & gas that demand nitrogen generators.

Driving Trends:

The increase in demand for pharmaceutical products fueled by rise in global population has significantly increased the use of nitrogen in pharmaceutical industry as it reduces the presence of oxygen that may negatively affect product quality. Nitrogen is also used in food processing and packaging industry. Thus, growth of pharmaceutical and food & beverage industry positively influences the growth of nitrogen generators market. In addition, various government initiative and free trade agreements across the globe have increased manufacturing activities, thereby boosting the demand for nitrogen generators.

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Top Players:
The key players profiled in the nitrogen generators market report include Air Liquide, Air Products and Chemicals, Inc., Atlas Copco AB, Hitachi Industrial Equipment Systems Co., Ltd., Linde, NOVAIR S.A.S, On Site Gas Systems, Inc., Oxymat A/S, Parker-Hannifin Corporation, and Peak Gas Generation.

Key Findings Of The Study
• The report provides an extensive analysis of the current and emerging nitrogen generators market trends and dynamics.
• On the basis of type, the PSA nitrogen generator dominated the nitrogen generators market share, in terms of revenue in 2020 and the membrane
nitrogen generator segment is projected to grow at a significant CAGR during the forecast period.
• On the basis of end user, the food & beverage segment registered highest revenue in 2020.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• The key players within the market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook
of the nitrogen generators industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market.

David Correa
Allied Analytics LLP
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