Gas Equipment Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Gas equipment are commonly used in various industries to measure the pressure and level of gas and detect the presence of harmful gases. Various safety and environmental regulations are imposed around the world that control the quality and safety standards of gas equipment manufactured. Various types of industrial gas such as acetylene, hydrogen, helium, and others are used extensively across different industries such as oil & gas, chemical and healthcare industries, among others. The importance of gas detectors for safety systems and precautionary measures in case of hazardous gas leaks is expected to drive the global gas equipment market in the future. Another major driver is the increasing application of gas equipment in the global healthcare sector. Hospitals and other healthcare establishments require the implementation of various types of gas equipment for different applications including anesthetic practice. Oxygen, nitrogen, nitrous oxide are among the various types of medical gases used in medical treatment and gas manifold systems are commonly used for such applications.

COVID-19 scenario analysis:

• COVID-19 pandemic has shut-down the production of various products in the global gas equipment industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of the global gas equipment market significantly from last few months, as is likely to continue during 2020.
• COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
• The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
• Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, Opportunities, Restraints and Impact Analysis

Gas equipment is used in various industries such as the global oil and gas industry, healthcare and medical industry, and chemical industry, among others. The demand for gas equipment has increased along with the increased application of various gas equipment across all these different industries. Gas detector equipment, cylinders, regulators and controllers as well as medical gas equipment are products that are used extensively around the world. The major restraining factor of the global gas equipment market is the high cost of products that are used in critical applications especially as failure of such equipment can lead to dangerous accidents and compromise the safety of operations. The growth opportunities for the market come from the increasing application of these products in the global healthcare industry.

The global gas equipment market trends are as follows:

Rising adoption of gas detection equipment around the world

Gas detector equipment is important for operational safety as they are used in safety systems for the detection of gas leaks in hazardous environments. Such safety systems use gas detector equipment to detect the existence of hazardous leaks and are often connected to alarm systems that are used to alert workers in case of dangerous gas leaks. The workers can then evacuate the area and all work processes are automatically shut down. The shale gas exploration industry is a major end user of these gas detection equipment. Due to the rapid industrialization, urbanisation and rising construction activity all around the world, gas detection equipment is expected to see rise in demand. Organizations around the world are required to install these systems for plant and personnel safety. Safety and environmental regulations imposed by various governmental and international bodies all over the world are expected to drive the growing adoption of these systems. The increasing demand for gas detection equipment is expected to help the global gas equipment market grow. 

Growth of global medical gas equipment

The global population is increasingly at risk of developing respiratory disorders. Increasing pollution levels, environmental problems, poor lifestyle habits of people including habits such as smoking, and lack of exercise and the growing global geriatric population are expected to cause increase in number of cases of respiratory disorders. These factors are expected to cause increase in demand of global medical gas equipment. The medical gas equipment segment include manifolds, hose assemblies, valves, alarm systems and gas vacuum system among other equipment which are required for healthcare industry infrastructure. While cylinders, regulators, flow meters, medical air compressors, masks, and other such equipment are used for critical treatment applications. Medical gas vacuum systems are increasingly being adopted by healthcare facilities around the world for anesthetic applications. Medical gas masks are also increasingly being adopted. Very high usage rate of these products in order to prevent contamination in sensitive and critical environment is an important factor attributing to the growth of medical gas masks. Regulators and medical gas outlets are also expected to witness increased adoption worldwide. 

Key benefits of the report:

• This study presents the analytical depiction of the global gas equipment market 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 global gas equipment market share.
• The current market is quantitatively analyzed to highlight the global gas equipment market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global gas equipment market analysis based on competitive intensity and how the competition will take shape in coming years. 

 Gas Equipment Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights