CHICAGO, July 18, 2023 /PRNewswire/ -- According to Arizton's latest research report, the global laboratory gas generators market will grow at a CAGR of 7.27% during 2022-2028.
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Manufacturers in the laboratory gas generators market focus on innovative product development based on specific utilization requirements. In addition, there has been a surge in demand for drug products due to increased disease incidences. After production, drugs require analysis, which is expected to increase the demand for laboratory gas generators in the coming years. Gas chromatography, an effective technique used for sample differentiation, is utilized to identify components in a specific sample. As there is a significant increase in drug R&D demand, the laboratory gas generator market is anticipated to thrive during the forecast period.
Moreover, the need for laboratory automation to ensure the safer use of analytical techniques is also expected to drive industry growth. Drug research activities rapidly increase, further driving demand for laboratory gas generators. Conventional gas cylinders pose safety hazards; therefore, the pharmaceutical industry requires gas generator advancements to meet the demand. This development is expected to fuel industry growth during the predicted period.
Laboratory Gas Generators Market Report Scope
Report Attributes | Details |
Market Size (2028) | USD 632.22 Million |
Market Size (2022) | USD 415 Million |
CAGR (2022-2028) | 7.27 % |
Base Year | 2022 |
Forecast Year | 2023-2028 |
Market Segmentation | Product Type, Application, Sales Channel, and Geography |
Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
Market Dynamics | · Increasing Awareness of Installing Fire-Fighting Systems · Emerging Demand for Packaged Food · Expanding Pulp & Paper Industry |
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Anticipated Surge in Direct Sales within Next 6 Years, while Indirect Sales Projected to Experience Rapid Growth Rate
The global laboratory gas generators market by direct sales to reach a three digit number by 2028.
North America is estimated to dominate direct laboratory gas generator sales due to the high popularity of direct selling in the region. Furthermore, the free movement of goods, services, persons, and capital, and the freedom of establishment across the EU, are paramount for European economic integration that drives the direct selling of laboratory gas generators. Moreover, the increased demand for interconnectedness between people and businesses for better trust also boosts the direct selling of laboratory gas generators across the globe.
According to the perspective of vendors, handling sales through distributors or dealers enables the company to increase its geographical reach and helps them better understand the local needs of consumers. The most challenging aspect of indirect sales networks is that the retailers' goods and the consumers' contact must be entrusted to another entity. Furthermore, indirect sales networks create layers of prices, suppliers, and bureaucrats. This raises the cost to customers, slows down supply, and takes control of producers. The major benefit of indirect sales includes a high global market penetration. Since local distributors have highly established networks in the domestic market, they provide better penetration by understanding local demand.
However, the major factor hindering growth is the high incurred cost due to outsourcing and the involvement of mediators. Indirect sales increase the final cost of laboratory gas generators due to the involvement of extra entities. Since vendors in the laboratory gas generators market compete predominantly on price, increased cost due to indirect sales becomes unfavorable for several vendors in the global laboratory gas generators market.
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North America, encompassing the United States and Canada, is renowned for its significant economic expertise and serves as a prime market for laboratory gas generators. The rapid growth of industries and the adoption of innovative tools have paved the way for the development of machines in these countries. North America has several large industries, including automobile, construction, aerospace, electronics, and packaging. The North American automotive sector manufactures the highest number of electric cars worldwide due to the rising demand for eco-friendly products. Some of the largest automobile manufacturers, such as Ford, General Motors, and FCA, are US-based.
Latin America and the Middle East are highly potential markets that help manufacturers to expand their product segments, thereby increasing sales. Increasing government initiatives to expand medical facilities, automotive, and oil & gas industries in developing countries are boosting the usage of various gases across these sectors, thereby providing significant growth opportunities for manufacturers in the market.
The markets across the regions have grown despite various challenges and hindrances faced by the global pharmaceutical, manufacturing, food & beverage, and semiconductor industries. In North America, the growth of laboratory gas generators can be majorly attributed to huge investments in the pharmaceutical sector, especially in the drug development segment. Furthermore, in North America, the US alone has a share of 48% of the global pharmaceutical market. Academic research institutes drive the market's growth as universities continuously collaborate with industries in R&D activities. Hence, such activities are propelling the growth of the laboratory gas generator market.
Key Company Profiles
- Parker Hannifin Corporation
- PEAK Scientific Instruments Ltd
- Claind
- Linde plc
- Valco Instruments Company, Inc
- ErreDue s.p.a
- F-DGSi
- LabTech
- Atlas Copco
- Gardner Denver
- Sullair, LLC
- LNI Swissgas
- On Site Gas Systems
- Isolcell S.P.A.
- Mvs Engineering PVT. Ltd
- Omega Air
- Compressed Air Systems
- Ingersoll-Rand
- GENERON
- Air & Gas Technologies
- Nel Hydrogen
- MATHESON
- A One Engineering Works
Market Segmentation
Product Type
- Nitrogen
- Pharmaceutical & Biotechnology
- Chemical & Petrochemical
- Food & Beverages
- Electronics Manufacturing
- Others
- Hydrogen
- Oil & Gas
- Chemical & Petrochemical
- Pharmaceutical
- Others
- Oxygen
- Hospitals & Clinics
- Chemical & Petrochemical
- Pharmaceutical & Biotechnology
- Food & Beverages
- Others
- Zero Air
- Others
Application
- Gas Chromatography
- Liquid Chromatography
- Gas Analysis
- Others
Sales Channel
- Direct Sales
- Indirect Sales
Geography
- North America
- The US
- Canada
- Europe
- Germany
- France
- The UK
- Italy
- Spain
- APAC
- China
- Japan
- India
- Australia
- Singapore
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
- The UAE
Key Questions Answered in the Report:
- How big is the laboratory gas generators market?
- What is the growth rate of the global laboratory gas generators market?
- What are the growing trends in the laboratory gas generators market?
- Which region holds the most significant global laboratory gas generators market share?
- Who are the key players in the global laboratory gas generator market?
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