Home / Blog
Global Nitrogen Generation (Nitrogen Generator) Market Size Is US$ 399.40 Million In 2018
Tuesday, 21 Jul, 2020
Nitrogen gas is an industrial gas produced using air separation by mechanical means by taking atmospheric air (the air that you are breathing - 78% nitrogen & 20.9% oxygen), pressurizing it in an air compressor and then separating it with either a membrane or PSA (pressure swing adsorption) generator. Nitrogen can be supplied by high pressure nitrogen cylinders; dewars of liquid nitrogen; or bulk liquid nitrogen or a nitrogen generator.

This report mainly focuses on the two types of nitrogen generator, PSA nitrogen generator and membrane nitrogen generator.

According to this study, over the next five years the Nitrogen Generation (Nitrogen Generator) market will register a 3.68% CAGR in terms of revenue, the global market size will reach US$ 496.42 million by 2024, from US$ 399.40 million in 2018.

This sales market has witnessed growth owing to increased usage in oil & gas, chemical, electronics, food & beverage and general industry applications. Increased investment in Nitrogen Generation (Nitrogen Generator) technology by leading players is expected to favorably impact market growth over the forecast period.

Asia Pacific is expected to be the fastest growing market over the forecast period owing to extensive usage in the food & beverage and general industry field. This can primarily be attributed to the considerable Chinese market, which contributes significantly to global volume as well as revenue generation. Although average selling prices are lower in Asia Pacific, high demand is expected to result in sizable market revenue over the next six years.

Globally, the Nitrogen Generation (Nitrogen Generator) industry market is low concentrated as the manufacturing technology of Nitrogen Generation (Nitrogen Generator) is relatively immatures. And some enterprises, like Air Liquide, Linde Engineering, Parker Hannifin, etc. are well-known for the wonderful performance of their Nitrogen Generation (Nitrogen Generator). At the same time, Asia-Pacific, occupied 37% sales market share in 2018, is remarkable in the global Nitrogen Generation (Nitrogen Generator) industry.

The consumption of Nitrogen Generation (Nitrogen Generator) is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of Nitrogen Generation (Nitrogen Generator) industry may not keep that fast. But it is surely forecasted that the market of Nitrogen Generation (Nitrogen Generator) is still promising. 

The business model in the industry is mainly based on direct sales and distribution. Conventional Nitrogen Generation (Nitrogen Generator) are usually sold through distributors; unconventional Nitrogen Generation (Nitrogen Generator) are usually sold in direct sales and are individually designed and produced for different inspection purposes, environments and precision requirements.

On the basis of type, the Nitrogen Generation (Nitrogen Generator) market has been segmented into PSA Nitrogen Generators and Membrane Nitrogen Generators. The Membrane Nitrogen Generators segment is estimated to register the highest CAGR, in terms of volume, of the overall Nitrogen Generation (Nitrogen Generator) market. The growth of the PSA Nitrogen Generators segment is expected to continue during the forecast period due to the increasing demand for General Industrial and Food & Beverage.

On the basis of application, the Nitrogen Generation (Nitrogen Generator) market has been segmented into Chemical & Petrochemical, Electronics, General Industrial, Food & Beverage and others. The General Industrial segment is projected to dominate the Nitrogen Generation (Nitrogen Generator) market during the forecast period. The dominance of the General Industrial segment can be attributed to the increasing usage of Nitrogen Generator.