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(Health-NewsWire.Net, July 25, 2020 ) According to the new market research report "Laboratory Gas Generators Market by type (Nitrogen, Hydrogen, Zero Air, Purge Gas, ToC), Application (GC, LCMS, Gas Analyzer), Enduser (Pharma, Biotech, CRO, Chemical, Petrochemical, Food & Beverage, R&D, Environmental Companies) - Global Forecast" published by MarketsandMarkets™
How the Market Growth looks like?
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.
Which is the major application segment of the global lab gas generator market?
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. LC-MS accounted for the largest share of the laboratory gas generators market in 2018. However, the GC segment is expected to grow at a higher CAGR during the forecast period, mainly due to the associated advantages such as convenience, safety, extended downtime, optimal analysis, and elimination of hazardous gas cylinders.
Which is the major end user in the global lab gas generator market?
The laboratory gas generators market is segmented into pharmaceutical & biotechnology companies, chemical & petrochemical companies, food & beverage companies, and other end users (environmental companies and research & academic institutions). Pharmaceutical & biotechnology companies accounted for the largest share of the market in 2018. Factors such as the rising demand for laboratory analytical instruments, rising drug research activities, stringent drug discovery regulations, and lab automation are contributing to the large share of this end-user segment.
Browse 83 market data Tables and 24 Figures spread through 123 Pages and in-depth TOC - Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=133302129
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.
Major Market Growth Drivers:
- Increasing R&D Spending in Target Industries
- Growing Importance of Analytical Techniques in Drug and Food Approval Processes
- Rising Safety Concerns Related to the Use of Conventional Gas Cylinders
- Growing Demand for Hydrogen Gas as an Alternative to Helium
- Growing Demand for Laboratory Automation
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Geographical Regions Mapped in Report:
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.
Key players in the laboratory gas generators market;
The market is a highly diversified and competitive market, with a large number of players, including mid-tier companies and startup firms, competing for market shares. The prominent players in the global market include 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
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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