0

Nitrogen Generators Market Expected to Reach $14.6 Billion by 2032—Allied Market Research

 
2022
Nitrogen Generators Market

Report Code : A04118

quote The nitrogen generators market is expected to grow along with the growth of the industrial sector at large. The PSA nitrogen generators accounted for a large market share in 2020 owing to their ease of usability and high purity nitrogen output. quote

Sonia Mutreja - Manager
Construction and Manufacturing at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Nitrogen Generators Market," The nitrogen generators market size was valued at $8.1 billion in 2020, and is estimated to reach $14.6 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032. 

The market is mainly driven by growth of global manufacturing industry and increase in investment in food & beverage, pharmaceutical and chemical processing industry. However, requirement of frequent maintenance of nitrogen generators has the potential to limit growth of the market. Contrarily, growth in electronics industry is anticipated to be a major nitrogen generators market opportunity.

Governments around the world, especially in the developing countries offer financial aid, or other policy support to help establish and grow domestic industrial sector. For instance, in October 2022, Argentina launched a $3.2 billion scheme called ‘Argentine Credit Programme’. This is done to help grow SMEs and large industrial and agro-industrial companies for investments and import substitution projects. Such support increases the number of industrial facilities in a country, and creates opportunities for nitrogen generators market. Moreover, as of November 2022, Vietnam is constructing approximately 400 industrial parks around the country. This development will positively affect the nitrogen generators, as they are crucial for many industrial applications. These machineries provide reliable and efficient cooling solutions that help maintain optimal temperatures and prevent equipment failure. Thus, the growth of the manufacturing industry boosts the nitrogen generators industry.

The market is analysed among the three types of nitrogen generators, including PSA nitrogen generator, membrane nitrogen generator, and cryogenic nitrogen generator. Among these technologies, the PSA nitrogen generator segment accounted for the highest nitrogen generators market share in 2020. A lot of manufacturers buy nitrogen generators to produce nitrogen at their facility. PSA nitrogen generators being more easy to operate and also having high purity rate are bought more than any other generators.

Furthermore, small and large scale industries utilize nitrogen generators. Food & beverage industry uses nitrogen to fill inside their packaged foods to prevent them from foiling. On the other hand, the transportation industry requires nitrogen for filling in tires to improve the performance of tires. The transportation industry also uses nitrogen during the transportation of hazardous goods. Nitrogen helps in modifying the environment surrounding the hazardous material. Moreover, medical and pharmaceutical industries are among the major users of nitrogen, as this gas is useful during the laboratory tests, and to prevent the organs and other biologics from getting foiled. The electrical & electronics industry utilize nitrogen gas to prevent oxidation during semiconductor manufcaturing. Furthermore, chemicals industry uses nitrogen to modify the environment surrounding hazardous oil and gas. In 2020, the chemicals segment dominated the nitrogen generators market, in terms of revenue. Chemical industry is known for handling very hazardous process which is not properly handled can lead to a catastrophe. Nitrogen gas is one of the ways to prevent any mishap including reaction with oxygen in the process.

The nitrogen generators market forecast also analyses the regions, among which the Asia-Pacific is expected to grow with the highest CAGR during the forecast period.

However, the nitrogen generators market is witnessing various obstructions in its regular operations due to the COVID-19 pandemic and inflation. Earlier, the global lockdowns resulted in reduced industrial activities, eventually leading to reduced demand for nitrogen generators from various sectors such as construction and industrial. However, COVID-19 has subsided, and the major manufacturers in 2023 are performing well. Nonetheless, the global economic downturn is a major obstructing factor for the entire industry. This economic downturn is a direct result of the war between Ukraine and Russia. The nitrogen generators market is anticipated to experience decline until major manufacturer and suppliers shift their supply chain from the affected regions to the stable ones. In addition, economic downturn is expected to get worse in the coming years, if no peace agreement is signed between Ukraine and Russia.

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 PLC, NOVAIR S.A.S, On Site Gas Systems, Inc., Parker-Hannifin Corporation, Peak Gas Generation, and PCI.

 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, 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 chemical segment registered highest revenue in 2020.
  • Asia-Pacific is projected to register highest growth rate in the coming years.
  • The key players within the nitrogen generators 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. 
  • In-depth nitrogen generators market analysis is conducted by constructing estimations for the key segments between 2022 and 2032.

 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Nitrogen Generators Market by Type (PSA Nitrogen Generator, Membrane Nitrogen Generator, Cryogenic Nitrogen Generator), by End User (Food and Beverage, Transportation, Medical and Pharmaceuticals, Electrical and Electronics, Chemicals, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Mar 2024

Hairbrush Market

Download Sample
rep-img

Published Date Mar 2024

Debt Security Market

Download Sample
rep-img

Published Date Mar 2024

Wood Adhesives Market

Download Sample

Buy Full Version
"Nitrogen Generators Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers