The adoption of advanced gas regulators is expected to grow in upcoming years as the need for energy-efficiency is essential in the oil and gas exploration activities in rigid terrains. This, in turn, is projected to work in favor of the global industrial gas regulator market in the upcoming years.
Industrial gas regulators find application in different end-use industries such as the steel & metal processing, oil & gas, pharmaceuticals, chemicals, and food & beverages. The surging need for power generation and cost-efficient solutions intended for different purposes such as portable gas turbines is expected to generate prodigious business prospects in the global industrial gas regulator market.
A study by Transparency Market Research (TMR) notes that the global industrial gas regulator market is projected to expand at a CAGR of 3.11% during the forecast period of 2017 to 2025. Thus, the market is estimated to gain the valuation of US$18,240 Mn by 2025.
The research report by TMR provides exhaustive study of the global industrial gas regulator market. Hence, readers gain in-depth insights on many crucial parameters such as growth opportunities, challenges, growth drivers, restraints, and present & historical trends in the market.
Duel Stages Regulators Gain Popularity Due to Their Ease of Operation
At present, there are three gas type devices available in the global industrial gas regulator market, namely, corrosive, inert, and toxic gases. Moreover, single stage and duel stage are the two types of regulators in the market. Of them, end-use industries are seen increasing the adoption of duel stages regulators owing to the ease of operation of these devices.
In the oil and gas industry, natural gas is used on regular basis in order to provide power to mines and in the fossil fuels extraction processes. Different equipment used for these processes are heavy and majority of the times in remote locations. In recent years, there has been increase in the demand for products from the oil and gas industry. Thus, the expansion of the oil and gas industry is likely to work as a key factor generating substantial share of revenues in the global industrial gas regulator market.
Leading Companies Focus on Launch of Innovative Products
Some of the key players operating in the global industrial gas regulator market include GCE Group, Emerson Electric Co., Air Products and Chemicals Inc., Honeywell Process Solutions, Air Liquide S.A., Rotarex S.A., The Linde Group, Cavagna Group S.p.A., and Praxair Technology Inc.
The global industrial gas regulator market holds intense level of competition. Hence, market companies are utilizing organic and inorganic strategies in order to expand their businesses. Several players are entering into merger and acquisition agreements with organizations from the oil and gas industry.
Enterprises in the global industrial gas regulator market are increasing focus on introducing new features in their existing products. Moreover, many organizations are launching modern products that are focused on addressing several drawbacks of predecessor products and fulfill stringent safety-related regulations. These factors are creating profitable business opportunities in the global industrial gas regulator market.
Use of Natural Gas Increases in Asia Pacific for Industrial Units and Power Generation
The industrial gas regulator market shows prominent presence in many geographical regions such as Asia Pacific, North America, South America, Middle East & Africa, and Europe. Of them, Europe and North America are leading regions offering lucrative opportunities in the market. Moreover, the industrial gas regulator market is estimated to gain substantial growth prospects in the Asia Pacific region owing to an increase in the use of natural gas for varied purposes including industrial units and power generation.