Wilmington, Delaware, United States, April 11, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global industrial gas regulator market was valued at US$ 16.7 Bn in 2022, and is likely to reach US$ 24.1 Bn by 2031, expanding at a CAGR of 4.3% during the forecast period between 2023 and 2031.
Increase in demand for natural gas in sectors such as automotive, chemical, oil & gas, and manufacturing is anticipated to create business opportunities in the global industrial gas regulator market. Governments in a number of countries are urging people to use natural gas rather than fossil fuels to generate electricity and reduce carbon emissions and air pollution. This is expected to accelerate market development.
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Active manufacturers are implementing cutting-edge gas regulator technology to create innovative products. Partnerships between service providers and operators of pipelines result in a constant flow of novel products, which is expected to boost the market for industrial gas regulators. Adoption of stringent requirements for gas equipment safety as well as high equipment prices, however, are projected to hamper market growth in the near future.
Gas regulators for commercial and industrial usage are utilized to efficiently control and regulate the flow of high-pressure gases. These regulators are designed to lower compressed gas pressure in a responsible way to a useful level. As these regulate fluctuating input pressure to sustain continuous output pressure, industrial gas regulators have the benefit of preventing pressure fluctuations.
Gases and liquids are the primary uses of pressure regulators. Each one has a separate pressure sensor, flow valve, and controller. There are many different kinds of regulators on the market, including acetylene gas regulators, nitrogen gas regulators, oxygen gas regulators, argon gas regulators, CO2 gas regulators, and LPG gas regulators. Stainless steel gas pressure regulators are appropriate for various applications, as these offer superior control in corrosive conditions.
Key Findings of Market Report
- In terms of product, the pressure reducing regulator segment is expected to account for the largest market share between 2023 and 2031. High upstream pressure can be controlled or reduced with these open valve regulators. Increase in usage of pressure reducing regulators across various sectors is expected to drive industry growth.
- Based on regulator type, usage of single stage industrial regulators is anticipated to rise due to expansion of the processing and manufacturing sectors. This type of regulator uses less energy and costs less. These benefits are likely to drive the segment.
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Global Industrial Gas Regulator Market: Growth Drivers
- Rapid expansion in industries such as oil & gas, chemicals, and the automotive industry is driving the global industrial gas regulator market. Inflow of fresh oil & gas supplies is bolstering the downstream and midstream chemical and energy industries. Gas flow and pressure are controlled by industrial gas regulators in these industries. The International Energy Agency (IEA) predicts that between 2022 and 2025, global natural gas consumption would increase at an annual average of 0.8%, totaling 4,240 bcm. This factor is anticipated to have a favorable impact on global market demand in the near future.
- Makers of industrial gas regulators put a lot of effort into developing devices that are cutting edge, highly efficient, secure, and functional. Development of traditional regulators with pistons that can function with greater frequency and pressure stability is expected to drive industry growth. Major firms in the oil pipeline and automobile industries are using IoT-integrated strategies to capture a larger portion of the global industry. The oil pipeline sector is growing due to higher efficiency and increase in process productivity. Therefore, the need for industrial gas regulators to improve the infrastructure is rising.
Global Industrial Gas Regulator Market: Regional Landscape
- North America accounted for significant share of the global market in 2022. The trend is anticipated to continue during the forecast period. Usage of pressure control equipment is increasing in North America, which is ascribed to the growth of the oil and gas industry in the region.
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Global Industrial Gas Regulator Market: Key Players
- Air Products and Chemicals Inc.
- GCE Holding AB
- The Linde Group
- Honeywell Process Solutions
- Pietro Fiorentini S.p.a.
- Cavagna Group S.p.A.
Global Industrial Gas Regulator Market: Segmentation
Product
- Pressure Reducing Regulator
- Back Pressure Regulator
- Others (Point-of-use Regulator, Flow Regulator, etc.)
Regulator Type
- Single Stage
- Dual Stage
- Three Stage
Gas Type
- Inert
- Toxic
- Corrosive
Material Type
- Brass
- Stainless Steel
- Others (Aluminum, Plastic, etc.)
Application
- Oil & Gas
- Chemical
- Steel & Metal Processing
- Pharmaceuticals
- Others (Food & Beverage, etc.)
Distribution Channel
- Direct Sales
- Indirect Sales
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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