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(Health-NewsWire.Net, June 27, 2020 ) The Laboratory Gas Generators Market is projected to reach USD 508 million by 2024 from USD 279 million in 2019, at a CAGR of 12.7% during the forecast period.
Growth in this market is mainly driven by the growing importance of analytical techniques in drug and food approval processes, increasing R&D spending in target industries, rising safety concerns related to the use of conventional gas cylinders, and the growing demand for hydrogen gas as an alternative to helium. The rising demand for laboratory automation and opportunities in the life science industry will also have a positive impact on market growth in the coming years.
Recent Developments;
- In May 2017, Peak Scientific announced the expansion of its regional office in Brazil.
- In November 2018, Praxair (US) signed an agreement with Phillips 66 (US) to supply high-purity hydrogen for Phillips’ 66 Sweeny Refinery
- In February 2017, NEL (Norway) acquired Proton Energy Systems Inc. (Proton Onsite) (US) to become the world’s largest supplier of products based on the Proton Exchange Membrane (PEM) technology.
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Market Segmentation in Depth:
“The hydrogen gas generators segment is expected to grow at the highest CAGR during the forecast period.”
Based on type, the laboratory gas generators market is segmented into nitrogen gas generators, hydrogen gas generators, zero air generators, purge gas generators, and others (oxygen gas generators, calibration gas generators, and dry air generators).The hydrogen gas generators segment is expected to grow at the highest CAGR during the forecast period, owing to advantages such as a growing preference for hydrogen as a cost-effective alternative to helium, as it offers faster analysis and optimal results.
“The LC-MS segment accounted for the largest market share in 2019.”
Based on application, the laboratory gas generators market is segmented into gas chromatography (GC), liquid chromatography-mass spectrometry (LC-MS), gas analyzers, and other applications (light scattering detectors, evaporators, microwave plasma-atomic emission spectrometers, and sample preparation instruments). The LC-MS segment accounted for the largest share of the laboratory gas generators market in 2018.
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Geographical Regions Mapped in Report:
In 2019, North America accounted for the largest market share, followed by Europe. The large share of this market can primarily be attributed to the strong economies in the US and Canada, which has led to a higher demand for efficient and advanced laboratory equipment. Growth in the North American market is supported by the importance of lab automation, government funding for R&D, and stringent requirements for high-purity gases. Moreover, the rising funding for environmental testing and the growth of the food testing industry are responsible for the growth of this segment.
Maior Key Players Mapped in Research Report:
The prominent players in the laboratory gas generators market are Parker Hannifin Corporation (US), Peak Scientific Instruments Ltd. (UK), Praxair Technology, Inc. (UK), Nel (Norway), F-DGSi (France), VICI DBS (US), LNI Swissgas Srl (Switzerland), LabTech S.r.l. (Italy), Claind S.r.l. (Italy), and ErreDue s.p.a. (Italy).
MarketsandMarkets™
Mr. Aashish Mehra
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raviraj.tak@marketsandmarkets.com
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