Overview and Scope
Gas equipment is the equipment that is utilized in connection with gas including appliances, pipelines, fuel containers, and vents. A pressure vessel or transportable gas container not connected to the system is not considered a part of the term gas system an assembly of tubes, pipes, or similar ducts, fittings, and valves for the reticulation, circulation, and conveyance of gas. The gas equipment is used in connection with gas, including piping, appliances, fuel containers, and vents.
Sizing and Forecast
The gas equipment market size has grown strongly in recent years. It will grow from $72.79 billion in 2023 to $77.92 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to trade liberalization, research and development initiatives, natural gas discoveries, infrastructure development, regulatory changes over time.
The gas equipment market size is expected to see strong growth in the next few years. It will grow to $102.01 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to energy security concerns, population growth, shift towards renewable gas, digitalization, government subsidies. Major trends in the forecast period include circular economy practices, decentralized energy solutions, smart infrastructure integration, carbon capture and storage (CCS), and hybrid gas-electric systems.
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The gas equipment market covered in this report is segmented –
1) By Equipment Type: Gas Delivery Systems, Gas Regulators, Flow Devices, Purifiers And Filters, Gas Generating Systems, Gas Detection Systems, Cryogenic Products, Accessories
2) By Gas: Nitrogen, Hydrogen, Helium, Oxygen, Carbon Dioxide, Others Gases
3) By Process: Generation, Storage, Detection, Transportation
4) By End-User: Metal Fabrication, Chemical, Healthcare and Medical, Oil and Gas, Other End Users
North America was the largest region in the gas equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the gas equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in demand for industrial gases for diverse applications is driving the growth of the gas equipment market. Industrial gases are manufactured for different industrial applications, such as manufacturing, oil refining, cleaning, and transportation. To meet the demands of industrial applications, several of them are provided in significantly bigger cylinders, which are sold and utilized in pure form or combined with other gases and stored in other ways. Oxygen, nitrogen, hydrogen, and carbon dioxide are some of the industrial gases that are used for various applications. Carbon dioxide can be used productively in processes such as increased oil recovery, the production of fuels, construction materials, and other things, or it can be stored in subterranean geologic formations. To capture carbon dioxide (CO2), Carbon Capture and Storage (CCS) facilities require various gas equipment which increases the demand for the gas equipment market. For instance, in 2021, according to the report released by the Global Carbon Capture and Storage Institute, an Australia-based non-profit organization, 149.3 million metric tons of carbon Dioxide (CO2) could be captured annually by the CCS facilities, in which 102 CCS facilities were under construction or in advanced stages. Therefore, increasing demand for industrial gases for diverse applications is expected to propel the growth of the gas equipment market over the coming years.
Key Industry Players
Major companies operating in the gas equipment market report are BASF SE, Nippon Sanso Holdings Corporation., Linde plc, Air Liquide S.A., ABB Ltd., Parker Hannifin Corporation, Atlas Copco AB, Praxair Inc., Iwatani Corporation, John Wood Group plc, The Messer Group GmbH, Colfax Corporation, Donaldson Company Inc., Itron Inc., Matheson Tri-Gas Inc., Messer SE & Co. KGaA, Chart Industries Inc., Filtration Group Inc., Camfil AB, Johnson Thermal Systems Inc., GCE Holding AB, Cryostar SAS, FIBA Technologies Inc., Xebec Adsorption Inc., Gas Control Equipment Ltd., Hannay Reels Inc., Rexarc International Inc., Welsco Inc., Global Display Solutions S.p.a., Advanced Specialty Gases., Gasco Affiliates LLC, Generon IGS Inc., Global Gases Group Pte Ltd., Haskel International Inc.
The gas equipment market report table of contents includes:
1. Executive Summary
2. Gas Equipment Market Characteristics
3. Gas Equipment Market Trends And Strategies
4. Gas Equipment Market – Macro Economic Scenario
5. Global Gas Equipment Market Size and Growth
…..
32. Global Gas Equipment Market Competitive Benchmarking
33. Global Gas Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Gas Equipment Market
35. Gas Equipment Market Future Outlook and Potential Analysis
36. Appendix
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