Newark, March 13, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 9.5 Billion Nitrogen Generators market will reach USD 16.54 Billion by 2033. Increasing demand for investments in the semiconductor industry and increasing market from the chemical industry are the major factors that may create lucrative opportunities for Nitrogen Generators devices in the market. Chemicals are heavily used in various industries, ranging from Automobile, Pharmaceutical and medical, food & and beverages, and packaging among others. Further, chemicals are also used in various technological advancements, green chemistry, bioplastics, and others. Thus rising chemical industry market may boost the growth of the Nitrogen Generators Market soon.
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Key Insight of the Nitrogen Generators Market
North America accounts for the largest market size during the forecast period accounting for 47.12% of the total market. Whereas Asia Pacific is expected to be the fastest-growing region in the period forecasted.
North America emerged as the largest market for the global Nitrogen Generators market, accounting for 47.12% of the total market. Owing to the rapidly growing demand for Nitrogen Generators in the region. Whereas, Asia Pacific exhibits the highest growth rate in the market owing to the food & beverages industry, aviation, and pharmaceutical industries in the region. Further, the presence of larger market players in the APAC countries, such as India, China, and Japan.
PSA Nitrogen Generator has dominated the market accounting for 46.32% of the total market.
PSA Nitrogen Generator has dominated the market accounting for 46.32% of the total market. Owing to rapidly growing innovations across various industries. For instance: In March 2021, Peak Gas Generation launched the i-Flow PSA Nitrogen Generator at Foodtech Packtech in the market. Whereas, Membrane Nitrogen Generators witness the highest growth rate catering to the increasing need for products from the Food & Beverages and Medical and Pharmaceutical Industries in the market.
Food & Beverages accounted for the largest share of the market share of 45.32% in 2023.
The Food & Beverages industry has dominated the Nitrogen Generators market. Thereby acquiring 45.32% in the year 2023. Owing to rising necessity for better quality of packaged goods and other food products. Whereas, the Chemical industry happens to be the fastest-growing segment within the market. Owing to its exceptional strength in cooling and freezing applications in the market
Report Scope and Segmentation -
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Forecast CAGR | 5.7% |
| 2033 Value Projection | USD 16.54 billion |
| Market Size in 2023 | USD 9.5 billion |
| Historical Data | 2020-2022 |
| No. of Pages | 238 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered | by Type, End User, Regions |
| Regions Covered | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Nitrogen Generators Market Growth Drivers | Rapid demand from food and beverage industries |
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Latest Development:
• In June 2023, Peak Scientific made a recent technological advancement by revolutionizing Horizen 24 Nitrogen Gas Generator. This breakthrough includes a brushless compressor and active moisture safeguard. Thereby reducing the risk of moisture entering the system.
• In 2022, Avilo launched Nitrogen Generator in its product portfolio in the market. The major objective behind this launch was to fill its storage tanks and circulate the same across various End-User Industries in the market.
• In January 2021, Atlas Copco acquired Purification Solution LLC. With this acquisition the company will expand its market share and enhance its business development operations across the regions: North America, Europe, and other regions
Market Dynamics
Drivers: Rapid demand from food and beverage industries
Nitrogen Generators are heavily used in the Food and beverages industry for packaging and processing food & and beverage products. Nitrogen gas is mainly used in the packaging of these products because Nitrogen provides an inert atmosphere which in turn prevents the goods from spoilage from the outside forces. Thus rising food & and beverages industry will directly contribute to the growth of the Nitrogen Generators Market.
Restraint: Huge capital investment
One major factor that may hamper the growth of the Nitrogen Generator Market is the huge capital required for installing and operating Nitrogen Generators in the Market. Nitrogen Generators are priced at a very huge price, owing to a lack of skilled workforce manufacturing it and a lack of raw materials availability in the market.
Opportunity: Increasing market from the chemical industry
Chemicals are heavily used in various industries, ranging from Automobile, Pharmaceutical and medical, food & and beverages, and packaging among others. Further, chemicals are also used in various technological advancements, green chemistry, bioplastics, and others. Thus rising chemical industry market may boost the growth of the Nitrogen Generators Market soon.
Challenge: Strict regulatory restrictions and measures
One major challenge that may be faced by Nitrogen Generators is the strict regulatory restrictions and measures. Since, these gases are flammable, corrosive, and explosive thus, its use is restricted by the government. Owing to this fact the users are required to install warning signals, a continuous monitoring system, and ventilated space to prevent the mishap in the future.
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Some of the major players operating in the Nitrogen Generators market are:
• Air Liquide
• Air Products and Chemicals, Inc.
• Atlas Copco AB
• Hitachi Ltd. (Hitachi Industrial Equipment System Co., Ltd.)
• Linde plc
• NOVAIR SAS
• On-Site Gas System, Inc.
• Parker-Hannifin Corporation
• Peak Scientific Instruments
• PCI
Key Segments cover in the 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
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About the report:
The global Nitrogen Generators market is analysed based on value (USD trillion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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