ALBANY, New York, January 23, 2017 /PRNewswire/ --
The competitive landscape of the U.S. industrial gas regulators market is highly fragmented due to the presence of several players. However, the top three players held a dominant share of 58.6% in the overall market in 2015. The Linde Group, Honeywell Process Solutions, and Emerson Electric Co. are expected to remain in the leading position as these companies offer turnkey solutions with their backward and forward integration activities.
According to the research report, the U.S. industrial gas regulators market was valued at US$2.3 bn in 2015 and is expected to be worth US$3.0 bn by the end of 2024. During the forecast years of 2016 and 2024, the overall market is expected to rise at a CAGR of 3%.
Oil and Gas Segment Expected to Emerge as Leading Application Segment
The various gasses studied in this report are inert, toxic, and corrosive. Out of these, the demand for inert gasses is expected to remain high throughout the forecast years. This segment is expected to be worth US$1.8 bn by the end of 2024. This growth will be attributable to the booming uptake of natural gas across several industrial sectors and the growing usage of inert gas to prevent the unwanted chemical reactions that could occur during manufacturing processes.
Download PDF brochure for this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18590
These gasses are used in industries such as oil and gas, steel and metal processing, food and beverages, and chemicals. Analysts anticipate that the oil and gas application will emerge as the leading application segment in the coming years due to growing adoption of gas regulators for attaining accurate pressure control. In terms of revenue, the oil and gas application segment in the U.S. industrial gas regulators market is estimated to rise at a CAGR of 3.1% between 2016 and 2024.
Product Innovation Steers U.S. Industrial Gas Regulators Market in Positive Direction
The U.S. industrial gas regulators market is expected to thrive against the backdrop of remarkable improvements in gas regulator technologies. The increasing demand for innovative products that promise improved reliability and performance is expected to play a crucial role in defining the trajectory of the overall market. Furthermore, demand is also expected to rise as newer products are expected to reduce the redundancy of work and improve safety of users.
The report states that the usage of natural gas a key fuel will also have a positive impact on the soaring demand of industrial gas regulators. For instance, the growing number of industrial boilers and furnaces have also fueled the sales of industrial gas regulators across the U.S. in recent years. Several industries such as chemicals, paper, food, manufacturing, and refining use these furnaces and boilers. As the related activities gain momentum, the demand for industrial gas regulators will also shoot up as they help to monitor, maintain, and control gas flow and pressure.
Browse Regional Press Release: http://www.europlat.org/u-s-industrial-gas-regulators-market.htm
Varying Standards Make Fabrication Process Difficult
Stringent regulatory norms pertaining to the manufacturing of gas regulators is likely to hamper the growth of the overall market. As these gas regulators are used in a wide range of industrial verticals such as oil and gas, aerospace, food processing, and automotive, they have to be made with absolute accuracy. Also, fabrication of gas regulators is based on set of standards that vary with each industry verticals.
This review is based on Transparency Market Research's report, titled "Industrial Gas Regulator Market - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
The U.S. Industrial Gas Regulator Market has been segmented as follows:
Industrial Gas Regulator Market, by Gas Type
Industrial Gas Regulator Market, by Regulator Type
- Single Stage
- Dual Stage
Industrial Gas Regulator Market, by Application
- Oil & Gas
- Steel & Metal Processing
- Food & Beverages
Related Research Reports by TMR:
- Industrial Automation Market:
- Industrial Gear Market:
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
SOURCE Transparency Market Research