Wilmington, Delaware, United States, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The value of global laboratory gas generators market stood at US$ 449.3 Mn in 2021. The laboratory gas generators market revenue analysis anticipates the market to progress at a CAGR of 11% during the forecast period, from 2022 to 2031. The market value of the laboratory gas generators is estimated to surpass value of US$ 1.27 Bn by 2031. In the upcoming years, the global market for laboratory gas generators is anticipated to be driven by an increase in demand for automated lab equipment. Over the past few years, there has been an upsurge in the use of laboratory gas generators. Insights on the laboratory gas generators market attribute such high demand to the benefits of this equipment over traditional gas cylinders, increasing worries about food safety, and demand for hydrogen gas as a helium alternative. In addition, increase in R&D investment and the usefulness of analytical methods in innovative food and drug approval procedures is expected to propel the global market
In addition, the expansion of the healthcare, infrastructure, and life sciences fields throughout the course of the projected period may be attributed to the market growth for laboratory gas generators. In order to diversify their income sources, market players are focusing on acquisitions. The global industry is expected to grow over the next several years as more people switch from traditional gas cylinders to laboratory gas generators owing to concerns about safety.
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Key Findings of Market Report
- Laboratory gas generators are more economical and effective than compressed gas cylinders and bulk gas storage facilities. These dependable and user-friendly on-demand gas generators are good choices. Since they are secure, dependable, and ever-useful, they are also regarded as long-term alternatives. On account of these advantages, the global market is anticipated to grow.
- Gas generation equipment manufacturers are working toward boost the output of hydrogen generators. For manufacturers of instruments, this is opening up new profitable prospects. In light of the rising use of these analytical systems and instruments, the outlook for the global market for laboratory gas generators is favourable.
- As medicinal marijuana has been legal in more and more nations and states globally, there has been a surge in the need for cannabis analytical testing in recent years. This segment is expected to account for a significant market share for laboratory gas generators. Prior to being consumed by people, this test helps assure the safety of medicinal cannabis. Amongst of the most effective and popular methods for analysing cannabis are liquid and gas chromatography.
- The pharmaceutical & biotechnology companies category, in terms of end-user, is anticipated to lead the global market throughout the forecast period. Laboratory gas generators are essential to the biotechnology and pharmaceutical fields since they provide a high level of purity for a range of uses, including the production and packaging of pharmaceuticals.
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Global Laboratory Gas Generators Market: Growth Drivers
- Based on product, the hydrogen gas generators category is anticipated to lead the global market throughout the forecast period. Such dominance is owing to the growth of safety standards for R&D and high regulatory compliance.
- In 2021, the gas chromatography application held a sizable portion of the worldwide market. High employment of gas chromatography for purpose of analysis and separation of numerous experimental substances also at low concentration is likely to trigger growth of the segment.
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Global Laboratory Gas Generators Market: Key Players
Some of the key market players are
- Peak Scientific Instruments Ltd
- Parker Hannifin Corp
- Erre Due s.p.a.
- Angstrom Advanced, Inc.
- Airgas, Inc.
- Nitrogenium Innovations & Filteration India Pvt. Ltd.
Global Laboratory Gas Generators Market: Segmentation
Product
- Hydrogen Gas Generators
- Nitrogen Gas Generators
- Oxygen Gas Generators
- Zero Air Gas Generators
- Purge Gas Generators
- Others
Application
- Gas Chromatography
- Liquid Chromatography-Mass Spectrometry (LC-MS)
- Gas Analyzers
- Spectroscopy
- Others
End User
- Chem / Petrochemical Companies
- Pharmaceutical & Biotechnology Companies
- Environmental Companies
- Food & Beverage Companies
- Others
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