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Albany, New York, Sept. 04, 2018 (GLOBE NEWSWIRE) -- According to a new market research report published by Transparency Market Research titled “Industrial Gas Regulator Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2026,” the industrial gas regulator market across the globe is anticipated to reach US$ 18,968.4 Mn by 2026. The market is expected to expand at a CAGR of 3.4% for the period 2018-2026. The growing demand for natural gas fuel based equipment is seen as a key driver of the industrial gas regulator market across the globe.
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The global industrial gas regulator market has been segmented on the basis of application into Oil & gas, Chemical, Steel & Metal processing, Pharmaceuticals, and others. Based on gas type, industrial gas regulators are segmented into inert, corrosive, and toxic. The inert segment held the major volume share in 2017. The industrial gas regulator market based on regulator type includes single stage regulator and dual stage regulator. Single stage regulator is expected to expand at a faster rate compared to its counterpart. The single stage regulator is ideal for all applications where there is minimal inlet pressure variation. On the other hand, dual stage regulators are designed to handle frequent variations in the gas flow rate. Based on material, the industrial gas regulator market is segmented into stainless steel and brass.
The growth in the global industrial gas regulator market is primarily due to increasing demand for technologically advanced gas regulators. This is due to the need for enhanced performance, reliability, and to reduce work redundancy. Growth in the industrial sector such as oil & gas, chemicals & energy, manufacturing, and automobile is also expected to deliver growth for the industrial gas regulator market.
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Increasing demand from the oil & gas and chemical industry offers significant growth opportunities to the industrial gas regulator market in the coming years. Pipeline service providers and operators entering into interdependent collaborations to further develop critical technology are also driving the industrial gas regulator market. Growing demand for gas powered automobiles and power stations are also anticipated to deliver growth prospects for gas regulators. The gas regulator are used for the pressure indicators of the tanks in different industries.
In the current scenario, the global industrial gas regulator market is highly fragmented. However, there are a few well established players having strong distribution network and providing integrated and advanced solutions across different industries. The companies are strengthening their position through merger & acquisition and continuously investing in research and development (R&D) activities to come up with solutions to cater to the customers’ requirements.
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North America is the largest region in the industrial gas regulator market. The North America industrial gas regulator market for single stage gas regulators is expected to expand at a CAGR of 4.1%. Demand for industrial gas regulators in North America is likely to grow rapidly in the U.S. and Canada owing to presence of a large industrial sector in the region. According to the report, the Asia Pacific industrial gas regulator market is expected to expand at a CAGR of 4.1% in terms of revenue. South America and Middle East & Africa are expected to expand at a CAGR of 2.2% and 2.5% respectively in the industrial gas regulator market. The market in Europe is expected to grow at a gradual rate.
The industrial gas regulator market is highly competitive with a large number of players present across the globe. Some of the leading industry players profiled in the study include The Linde Group, Praxair Technology, Inc., Air Liquide S.A., Emerson Electric Co., Honeywell Process Solutions, Air Products and Chemicals Inc, Pietro Fiorentini S.p.a.,Cavagna Group S.p.A., and GCE Holding AB.
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The global industrial gas regulator market has been segmented as follows:
Industrial Gas Regulator Market, by Application
Industrial Gas Regulator Market, by Gas Type
Industrial Gas Regulator Market, by Regulator Type
Industrial Gas Regulator Market, by Material
Global Industrial Gas Regulator Market, by Geography
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