Jul 25, 2020 SOURCE: BusinessWire

Outlook on the Worldwide Nitrogen Gas Generator Market to 2025 - Chemical Industry to Hold a Noteworthy Industry Share - ResearchAndMarkets.com

The "Nitrogen Gas Generator Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.

Global nitrogen gas generator market is projected to grow at a CAGR of 4.77% during the forecast period.

Stringent workers' safety regulations across different industries is the major driver of the nitrogen gas generator market. The application of nitrogen gas generators as dielectric gas in high-voltage equipment and fire and corrosion control is fuelling the overall market growth. There is a burgeoning demand for nitrogen gas to cater to various applications across different end-use industries including aerospace, oil and gas, food packaging, and pharmaceuticals.

The use of nitrogen gas generators includes the manufacturing of fertilizers and pesticides, removal of some type of cancer and skin lesions via cryosurgery methods, and providing a safe, clean, dry, and unreactive environment for the manufacturing of electronics. The growing global oil and gas industry is one of the major drivers of the nitrogen gas generator market. With increasing E&P (exploration and production) activities in countries like the U.S., Mexico, and Brazil, the demand for nitrogen gas generators is increasing significantly for a wide range of areas to prevent fire and explosion hazards, both offshore and onshore.

Chemical industry to hold a noteworthy market share

The chemical industry accounted for a significant market share in 2019. Some of the major applications of nitrogen gas in the chemical industry include purging (before and during batch processing), blanketing (tanks and other storage volumes), and packaging to prevent reaction with oxygen and other volatile chemicals. As such, the growing global chemical industry is driving the market growth of nitrogen gas generators worldwide.

However, the recent COVID-19 global pandemic outbreak has severely impacted the global chemical industry. Government quarantines for maintaining social distancing to prevent the spread of this deadly virus has forced many companies across various industries to temporarily shut down factories and halt the production in different regions. As such, the demand for chemicals has temporarily declined which, in turn, is negatively impacting the global nitrogen gas generator market growth.

APAC projected to witness a substantial CAGR during the forecast period

Geographically, the global nitrogen gas generator market is segmented as North America, South America, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC). The North American region is expected to hold a significant market share during the forecast period owing to the strict workers' safety regulations implemented by OSHA along with the presence of major market players in the region. Booming oil and gas industry in the U.S. and Mexico, supported by favorable government initiatives and policies will continue to bolster the nitrogen gas generator market growth in this region.

However, Asia Pacific (APAC) region is projected to grow at a noteworthy CAGR during the forecast period owing to the growing end-user industries such as chemical, food packaging, and pharmaceutical in countries like China and India. These, along with other APAC countries, are manufacturing hubs of electronics which also contributed to the market growth of nitrogen gas generators in this region.

Market Players and Competitive Intelligence

Prominent key market players in the global nitrogen gas generator market include Peak Scientific Instruments, Oxymat A/S, Parker Hannifin Corporation, Oy Atlas Copco Kompressorit Ab, INMATEC GaseTechnologie GmbH & Co.KG, and Holtec Gas Systems among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the global nitrogen gas generator market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

3.1. Research Highlights

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.4. Industry Value Chain Analysis

5. Global Nitrogen Gas Generator Market Analysis, By Technology

5.1. Introduction