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Research and Markets has announced the addition of the "Gas Equipment Market by Industrial Gas, Type and Process Forecast to 2021" report to their offering.
The global industrial gas handling equipment market size will grow from USD 51.93 billion in 2016 to reach USD 72.22 billion by 2021, at a projected CAGR of 6.82%. Increasing demand for industrial gases for diverse applications in metal fabrication, chemical, healthcare medical, and oil gas sectors is encouraging the growth of the industrial gas handling equipment market.
Industrial gas handling equipment market, on the basis of equipment category, consists of gas delivery systems, gas regulators, flow devices, purifiers filters, gas generating systems, gas detection systems, cryogenic products, and accessories. The gas delivery systems segment had the largest demand in 2015 and is expected to hold the leading position through the forecast period. However, cryogenic products segment is projected to be the fastest-growing market from 2016 to 2021.
On the basis of gas, the market has been categorized into atmospheric gases, hydrogen, acetylene, helium, and other gases which include carbon monoxide, krypton, neon, xenon, and nitrous oxide. The atmospheric gases segment recorded the largest consumption of industrial gas handling equipment in 2015 due to the huge demand for this type of gases in the industrial applications. Hydrogen and acetylene gas have high potential as the demand for these gases is growing rapidly in the chemical, food processing, and metallurgical industries.
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