PUNE, India, January 27, 2016 /PRNewswire/ --
The report "Industrial Gases - Metals & Metal Fabrication Market by Type (Oxygen, Nitrogen, Hydrogen, Others), Function (Metal Manufacturing, Fabrication), Storage (Cylinder, Merchant Liquid, Tonnage), End-use (Metal, Automotive, Aerospace, Others) - Forecast to 2020", published by MarketsandMarkets. The global market is projected to grow at a CAGR of 6.07% from 2015 to reach USD 47.06 Billion by 2020.
Browse more than 239 market data Tables 62 Figures spread through 270 Pages and in-depth TOC on "Industrial Gases- Metals & Metal Fabrication Market"
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The Asia-Pacific region accounted for around 43.4% of the total market share in terms of value, followed by Europe and North America in 2014. Rapid industrialization in emerging economies such as China and India as well as growth in the metal & manufacturing industry and increase in production in industries such as automotive and heavy machinery will support the growth of the market over the forecast period 2015-2020. However, environmental impact caused due to metals & metal fabrication industries forces governing authorities to apply stringent regulation which may limit the growth of the market.
Cylinder & packaged distribution to dominate the market during the forecast period
The cylinder & packaged distribution segment accounted for the largest share of 44.80% of the total industrial gases in metals & metal fabrication market in 2014. It is projected to grow at a healthy CAGR of 6.04% from 2015 to 2020 as a result of factors such as inexpensiveness, easy transportation, stringent safety protocols, and compatibility with all types of industrial gases.
Metal industry projected to lead the market in terms of end-use application.
On the basis of end-use applications, the industrial gases in metals & metal fabrication market is segmented into metal industry, automotive, aerospace & defense, rail & shipping, heavy machinery, and others. Metal industry accounted for the largest share of 34.27% of the overall industrial gases in metals & metal fabrication market in 2014. It is projected to grow at a highest CAGR of 7.49% to reach the markets size of USD 17.49 billion, during the forecast period. Rapid industrialization and growing demand in automotive, aerospace & defense industry, and heavy machineries have propelled the growth in the segment.
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Asia-Pacific to play a key role in the industrial gases in metals & metal fabrication market
On the basis of key regions, the industrial gases in metals & metal fabrication market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The Asia-Pacific region held the largest share among all the regions in 2014. This is mainly due to emerging economies in China and India, coupled with growing application of metal.
The scope of the report covers detailed information regarding the major factors influencing the growth of the industrial gases in metals & metal fabrication market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, joint ventures, and recent developments associated with the market for industrial gases in metals & metal fabrication industry.
The industrial gases in metals & metal fabrication market has been dominated by large players of the gases industry such as Praxair, Inc. (U.S.), Air Liquide S.A. (France), Airgas, Inc. (U.S.), The Linde Group (Germany), and Messer Group GmbH (Germany).
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