COVID-19 Impact analysis

• COVID-19 pandemic has shut-down large number power plants, technology advancement companies and others. This has hampered the growth of charging nitrogen gas systems market from the last few months and is likely to continue during 2021.
• COVID-19 has already affected the sales of charging nitrogen gas systems. In the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
• The major demand for charging nitrogen gas systems was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand of services for charging nitrogen gas systems.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Key players of charging nitrogen gas systems market are expected to afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their service activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
• Charging nitrogen gas systems market are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors
Nitrogen is the cheapest and most available gas in the market as compared to oxygen and other gases. This gives an opportunity for the use of nitrogen gas boosters. Hence, gas boosters for filling accumulators offer a substantial growth opportunity for the global charging nitrogen gas systems market in the forecast time.
The charging nitrogen gas system will give the biggest opportunity in charging nitrogen gas system industry space and offers accurate inherent demand forecasting that entitles quantitative decision making among charging nitrogen gas system market competitors and new entrants.
 The most important restraint for the market growth is COVID-19, as because of pandemic          the processing units are getting closed, workforce are not allowed to gather, thus the charging nitrogen gas system demand has been reduced. In recent days the situation is getting better and the market has growing again.

 Market Trends

• MAXIMATOR (Maximum Pressure) introduced nitrogen charging systems, where the nitrogen charging stations that Maximator offers are a remarkable solution. The Maximator Gas Boosters will take gas pressure from the nitrogen bottles and compress it up to 750 bar and in this way more than 90% of the bottle contents are used.
• Hydrotechnik UK have launched its new universal worldwide nitrogen gas charging kit for accumulators, dampers, fire suppression and other pneumatic or gaseous systems. It has been designed specifically for service engineers who work on a range of hydraulic systems.
• The key players such as Hale Hamilton, Maximator GmbH, Hydrotechnik UK Ltd, HyDAC, Hydraulics International, Inc, Accudyne Industries, and Semmco Limited are arranging workshops for the workforce for educating them about charging nitrogen gas systems.

Key Segments Covered
Device Type:

•  Accumulators
• Dampers
• Fire Suppression
• Others (pneumatic system)

    
End Users Type    

• Aerospace & Defense
• Aviation
• Power Generation
• Healthcare
• Others

Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Rest of Europe
• Asia-Pacific 
  • China
  • Japan
  • India
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa

Key Benefits of the Report

• This study presents the analytical depiction of the charging nitrogen gas systems market making industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the charging nitrogen gas systems market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the charging nitrogen gas systems market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed charging nitrogen gas systems market analysis based on competitive intensity and how the competition will take shape in coming years.