Gas Equipment Market worth 72.22 Billion USD by 2021

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Gas Equipment Market worth 72.22 Billion USD by
2021

The report "Gas Equipment Market by Industrial
Gas (Atmospheric, Hydrogen, Acetylene, Helium),
Type (Gas delivery, Regulators, Purifiers
filters, Flow devices, Gas generation,
Cryogenics, Gas detection), Process (Generation,
Storage, Detection, Transportation) - Forecast to
2021", The industrial gas handling equipment
market size is projected to grow from USD 51.93
Billion in 2016 to USD 72.22 Billion by 2021, at
a CAGR of 6.82 from 2016 to 2021.
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Introduction
The industrial gas handling equipment market is
projected to witness significant growth in the
future with the increasing use of industrial
gases in metal fabrication, chemical, oil gas,
and healthcare medical sectors. Developing
markets such as China, Brazil, and India are
emerging as growth frontiers for industrial gas
handling equipment. Growing economies,
globalization, and reduced trade barriers act as
the main drivers for increased opportunities in
these nations.
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Key Participants
The key players in the industrial gas handling
equipment market are Linde AG (Germany), Air
Liquide S.A (France), Praxair Inc. (U.S.), Air
Products And Chemicals, Inc. (U.S.), and Iwatani
Corporation (Japan). The other players in the
market are Colfax Corporation (U.S.), Itron, Inc.
(U.S.), Messer Group GmbH (Germany), Matheson
Tri-Gas, Inc. (U.S.), and GCE Holding AB (Sweden).
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On The Basis Of Region
North America held the largest share in the
industrial gas handling equipment market and is
projected to dominate the market during the
forecast period. The U.S. is projected to be the
fastest-growing country level market for
industrial gas handling equipment, during the
forecast period, whereas the market for
Asia-Pacific is projected to grow at the highest
CAGR. Factors such as growth of the metal
fabrication industry due to the increasing demand
for automobiles and consumer appliances,
development of new technologies and machineries
in the healthcare medical sector, rapid
industrialization in the emerging Asia-Pacific
region, and stringent government regulations
regarding worker and environmental safety are
driving the industrial gas handling equipment
market.
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