Future Market Insights highlights a rising demand for gas
feed systems globally. This growth is fueled by two key trends: the
increasing focus on sustainability in manufacturing and the global
economic revival. Automation plays a central role, with gas
feed systems ensuring a smooth flow of gas in automated production
lines.
NEWARK, Del., April 23, 2024 /PRNewswire/ -- The global
industrial landscape is witnessing a significant rise in the demand
for gas feed systems. This trend is attributed to the increasing
focus on sustainability and the revival of economies across the
globe. As production units and manufacturing sectors become more
automated, the demand for gas feed systems is poised to grow even
further.
By the end of 2034, the market valuation is expected to reach a
staggering US$ 1,592.2 million, which
is a significant increase from the current valuation of
US$ 906.4 million as of 2024.
The automation of production units has brought about a paradigm
shift in the manufacturing sector. Gas feed systems play a vital
role in the automation of production units, as they help maintain a
consistent flow of gas to the production line.
With the growing emphasis on automation and digitization, the
demand for gas feed systems is expected to witness a steady rise in
the coming years. The market is poised to grow at a CAGR of 5.80%
through 2034.
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insights and trends:
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"The ongoing sustainability trend has significantly
influenced the market for gas feed systems. Developing and
underdeveloped countries are appreciably cutting their dependence
on fossil fuels. Key players must leverage this opportunity",
says Nikhil Kaitwade (Associate Vice President at
Future Market Insights, Inc.).
Key Takeaways from the Market Study
- The industrial segment dominates the gas feed system market by
application, with a share of 31.40% in 2024.
- Based on the gas type, chlorine gas feed systems lead the
market with a share of 45.70% in 2024.
- The market in the United
States is predicted to rise at a 4.80% CAGR through
2034.
- The market in South Korea is
anticipated to grow at a CAGR of 6.40% through 2034.
- The market in Spain is
estimated to rise at a 5.20% CAGR through 2034.
- The market in Japan has the
potential to increase at a 5.20% CAGR through 2034.
- The market in Australia is
predicted to rise at a 6.40% CAGR through 2034.
- The market in India is very
likely to grow at a CAGR of 5.40% through 2034.
Competitive Landscape
The gas feed system market is highly competitive, especially in
countries with limited natural resources and high energy
requirements.
- The introduction of natural gas vehicles and the need for
countries to reduce their dependence on imported oil and gas
creates opportunities for market players to expand their
business.
- Ongoing sustainability trends in various industries will also
benefit the gas feed systems market.
- To gain more traction, companies in the industry must market
their products and offerings in both developed and emerging
economies.
- Some of the most prominent companies in the industry include
Linde plc, Air Products and Chemicals, Inc., Air Liquide S.A.,
Praxair, Inc. (now part of Linde plc), Messer Group GmbH, Matheson
Tri-Gas, Inc., and Taiyo Nippon Sanso Corporation.
Purchase now and gain full access to
the Gas Feed System Industry report, featuring comprehensive Market
Forecast, Company Share Analysis, Competition Intelligence, DROT
Analysis, Market Dynamics and Challenges, and Strategic Growth
Initiatives.
Recent Developments:
- In February 2024, Mermaid Subsea
Services and MCS Group partnered with EnergyPathways for the Marram
field project in the Irish Sea, aiming to reduce costs and expedite
delivery.
- In January 2011, Tokyo Gas and
Bio Energy Corp. fed food waste-derived biogas into Tokyo's city gas grid, cutting 1,360 tons of
CO2 annually and pioneering Japan's energy conservation efforts.
- In September 2020, the Hanford
Waste Treatment and Immobilization Plant completed testing its
high-purity gas systems, marking a crucial step toward operational
readiness for treating tank waste.
- In January 2024, Essar Oil UK Ltd
chose Belco Technologies Corp. for gas cleaning at the Stanlow
refinery, UK, to cut carbon emissions by 95% by 2030.
- In November 2023, Hydron Energy
Inc. received a US$ 365,000 grant
from the Natural Gas Innovation Fund to scale up its INTRUPTor
system that converts raw gases into renewable natural gas.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market
Insights, Inc.) has over a decade of experience in market research
and business consulting. He has successfully delivered 1500+ client
assignments, predominantly in Automotive, Chemicals, Industrial
Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research
methodology, creating a unique analysis framework, statistical data
models for pricing analysis, competition mapping, and market
feasibility analysis. His expertise also extends wide and beyond
analysis, advising clients on identifying growth potential in
established and niche market segments, investment/divestment
decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in
Mechanical Engineering. Nikhil has authored several publications
and quoted in journals like EMS Now, EPR Magazine, and EE
Times.
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