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 theLaboratory gas generatorsmarket, 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 regionin 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 asrising foreign direct investments by North American and European pharmaceutical and biotechnology firms in the Asia Pacific is expected to drive market in this region.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 40%, Tier 2 - 30%,and Tier 3 -30%
- By Designation: C-level - 27%, D-level - 18%, and Others - 55%
- By Region: North America- 46%, Europe- 25%, Asia Pacific – 18%, RoW – 11%
This report provides a detailed picture of the Labortaory gas generators market. It aims at estimating the size and future growth potential of the market across different segments, such as type, application, end user, and region. The report also includes an in-depth competitive analysis ofthe key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall Laboratory gas generatorsmarket and its subsegments.It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, opportunities, and challenges.