Double-stage Gas Pressure Regulators to Hold Highest Share in Global Market: Persistence Market Research
NEW YORK CITY, NEW YORK, UNITED STATES, April 28, 2022 /EINPresswire.com/ — APAC gas pressure regulator sales were valued at around US$ 2.4 Bn in 2021, with steady long-term projections, according to latest insights by Persistence Market Research. The report estimates the market to expand at 5.4% CAGR from 2021 to 2031. Constant use of gas pressure regulators in the oil & gas, medical, automotive, manufacturing, residential & commercial and mining sectors is driving market expansion.
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Population growth in developing countries has a huge impact on the growth of the residential construction sector. In addition, industrial development also positively reflects the construction situation in APAC countries. Industrialization development is projected to drive demand for fuel and natural gas. Use of gas pressure controllers is mandatory in production facilities to control high gas pressure within the system. In addition, gas pressure regulators are widely used in industrial furnaces, large ovens, gas boilers, production plants, etc., in the oil & gas sector.
Overall, the growing oil & gas industry is predicted to drive the need for gas pressure regulators.
Key Takeaways from Market Study
By product form, double-stage gas pressure regulators are expected to hold the highest market share owing to the growing construction sector in APAC.
By gas type, the toxic gas segment is projected to increase at 5.5% CAGR by volume during the period of 2021 to 2031.
By country, China is anticipated to witness substantial growth in gas pressure regulator sales.
By application, the oil & gas sector expanded Y-o-Y of 5.6% in 2021.
“Demand for gas pressure regulators is highly driven for safety purposes with rising number of accidental instances due to overpressure in several industries. Additionally, increasing investments and the expanding industrial gases business across Asian countries is set to drive market growth,” says a Persistence Market Research analyst.
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Leading manufacturers of gas pressure regulators include Linde plc, Honeywell International Inc., Air Liquide SA, Xylem, Emerson Electric Co. & Subsidiaries, Emerson Electric Co. & Subsidiaries, Rotarex S.A., Colfax Corporation, Air Products and Chemicals Inc., Lincoln Electric Holdings Inc., Messer Cutting Systems, Itron Inc., Watts Water Technologies Inc., Cavagna Group, Starex Welding, and Cutting Technologies.
To gain a competitive edge in the market, key players are likely to invest in new technology developments and expansion of their. Apart from this, market players are investing in strategic collaborations, mergers, and acquisitions to expand their global footprint.
In June 2021, Air Liquide SA acquired 16 air separation units from Sasol Limited, an energy and chemical company in South Africa.
In April 2019, Messer Industries GmbH, along with CVC Capital Partners Fund VII, acquired a majority of Linde AG’s gas business in North America and Praxair business activities in South America.
More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a new market research report on the APAC Gas Pressure Regulators market that contains industry analysis of 2016–2020 and opportunity assessment for 2021–2031.
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The report provides in-depth analysis of the market through different segments, namely, product form, gas type, application, and country. The report also provides supply and demand trends along with an overview of the parent market.
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