Oxygen Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s Oxygen Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

LONDON, GREATER LONDON, UK, December 11, 2023 /EINPresswire.com/ -- The global oxygen market, segmented by product type (Medical Oxygen, Industrial Oxygen, Other Product Types), application (Cosmetics, Pharmaceutical, Automobiles, Mining, Mineral Processing Applications), and end-user industry (Metallurgical Industry, Chemical Industry, Health Care Industry, Other End Use Industries), is poised for substantial growth. The market size is expected to increase from $34.83 billion in 2022 to $39.28 billion in 2023, with a compound annual growth rate (CAGR) of 12.8%. Furthermore, the oxygen market size is anticipated to reach $62.36 billion by 2027, exhibiting a CAGR of 12.2%.

Medical Oxygen Driving Market Growth
The global oxygen market is experiencing a boost in demand due to the increasing prevalence of diseases related to respiratory problems. Chronic Obstructive Pulmonary Disease (COPD), a type of obstructive lung disease resulting in long-term breathing problems, is more prevalent in the geriatric population. The use of oxygen concentrators is essential for addressing breathing problems in patients with COPD. The geriatric population is on the rise, with an estimated 727 million people aged 65 years or over worldwide in 2020, expected to reach 1.5 billion by 2050, according to the United Nations (UN). This surge in cases has driven the demand for portable oxygen concentrators, fueling the growth of the oxygen market.

Key Players in the Market
Major players in the oxygen market include Linde Group, Praxair Technology Inc., Air Liquide, Taiyo Nippon Sanso, Yingde Gases, Air Water Inc., Airgas Inc., Guangdong Haute Gas Co. Ltd., and Baosteel Metal Co. Ltd. These industry leaders play a crucial role in shaping market dynamics, influencing production, distribution, and global market presence.

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Innovation in Oxygen Delivery
Companies in the market are actively pursuing innovative ways to utilize oxygen in various industries, with a focus on improving oxygen delivery and monitoring. Camcon Medical, for example, introduced Binary Actuation Technology (BAT), an innovative solution that enhances oxygen delivery accuracy, reduces wastage, and provides cost-effective oxygen therapy solutions to patients. Such innovations contribute to the economic benefits of oxygen-related products and drive market growth.

Regional Dynamics: Asia-Pacific Takes the Lead
Asia-Pacific emerged as the largest region in the oxygen market in 2022, followed by North America as the second-largest region. The regions covered in the global oxygen market analysis include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

For a comprehensive analysis of the global oxygen market, please refer to the complete report:
https://www.thebusinessresearchcompany.com/report/oxygen-global-market-report

Oxygen Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Oxygen Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on oxygen market size, oxygen market drivers and trends, oxygen market major players, competitors' revenues, market positioning, and market growth across geographies. The oxygen market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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