Apr 7, 2021 SOURCE: BusinessWire

The Worldwide Laboratory Gas Generators Industry is Projected to Reach $686 Million by 2026 at a CAGR of 14.2% from 2021 - ResearchAndMarkets.com

The "Global Laboratory Gas Generators Market by Type (Nitrogen, Hydrogen, Zero Air, Purge Gas, ToC), Application (Gas Chromatography, LC-MS), End-user (Life Science Industry, Chemical & Petrochemical Industry, Food & Beverage Industry), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global laboratory gas generators market is projected to reach USD 686 million by 2026 from USD 353 million in 2021, at a CAGR of 14.2% during the forecast period.

The growth of the laboratory gas generators market is primarily driven by the growing importance of analytical techniques in drug and food approval processes, rising food safety concerns, increasing adoption of laboratory gas generators owing to their various advantages over conventional gas cylinders, growing demand for hydrogen gas as an alternative to helium, and the increasing R&D spending in target industries.

On the other hand, reluctance shown by lab users in terms of replacing conventional gas supply methods with modern laboratory gas generators and the availability of refurbished products are the major factors expected to hamper the growth of this market.

The hydrogen gas generators segment accounted for the highest growth rate in the Laboratory gas generators market, by type, during the forecast period

Based on type, the laboratory gas generators market is segmented into nitrogen gas generators, hydrogen gas generators, zero air generators, purge gas generators, TOC gas generators, and other gas generators. The hydrogen gas generators segment accounted for the highest growth rate in the Laboratory gas generators market in 2020. This can be attributed to the growing preference for hydrogen as a cost-effective alternative to helium, as it offers faster analysis and optimal results.

Gas chromatography segment accounted for the highest CAGR

Based on application, the laboratory gas generators market is segmented into gas chromatography (GC), liquid chromatography-mass spectrometry (LC-MS), gas analyzers, and other applications. In 2020, gas chromatography accounted for accounted for the highest growth rate. The major factors driving the growth of this is the adoption of hydrogen over helium due to the latter's high cost and scarcity in gas chromatography.

Chemical and Petrochemical industry segment accounted for the highest CAGR

Based on end-user, the laboratory gas generators market is segmented into the life science industry, chemical and petrochemical industry, food and beverage industry, and other end-users (environmental companies and research & academic institutes). In 2020, the chemical and petrochemical industry segment accounted for the highest growth rate. This can be attributed to the rising number of new oil & gas fields.

Asia-Pacific: The fastest-growing region in the Laboratory gas generators market

The Laboratory gas generators market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is projected to register the highest CAGR during the forecast period. Factors such as rising foreign direct investments by North American and European pharmaceutical and biotechnology firms in the Asia-Pacific is expected to drive market in this region.

Market Dynamics

Drivers

Increasing R&D Spending in Target Industries
Growing Importance of Analytical Techniques in Drug Approval Processes
Rising Food Safety Concerns
Increasing Adoption of Laboratory Gas Generators Owing to Their Various Advantages Over Conventional Gas Cylinders
Growing Demand for Hydrogen Gas as an Alternative to Helium

Opportunities