Gas equipment is the equipment that is utilized in connection with gas including appliances, pipelines, fuel containers, and vents. A pressure vessel or transportable gas container not connected to the system is not considered a part of the term gas system an assembly of tubes, pipes, or similar ducts, fittings, and valves for the reticulation, circulation, and conveyance of gas. The gas equipment is used in connection with gas, including piping, appliances, fuel containers, and vents.
The main equipment types of gas equipment are gas delivery systems, gas regulators, flow devices, purifiers, and filters, gas generating systems, gas detection systems, cryogenic products, and accessories. Gas delivery systems are used when gases are in significant volumes. Delivery systems refer to safely reducing gas pressure from higher pressure cylinders to supply process tools and various instruments in semiconductors, pharmaceuticals, or research and development centres such as aerospace or universities. The different gases include nitrogen, hydrogen, helium, oxygen, carbon dioxide, and others that involve several processes such as generation, storage, detection, and transportation. The different end-users include metal fabrication, chemical, healthcare and medical, oil and gas, and others.
The global gas equipment market is segmented -
1) By Equipment Type: Gas Delivery Systems, Gas Regulators, Flow Devices, Purifiers And Filters, Gas Generating Systems, Gas Detection Systems, Cryogenic Products, Accessories
2) By Gas: Nitrogen, Hydrogen, Helium, Oxygen, Carbon Dioxide, Others Gases
3) By Process: Generation, Storage, Detection, Transportation
4) By End-User: Metal Fabrication, Chemical, Healthcare and Medical, Oil and Gas, Other End Users
The global gas equipment market size is expected to grow from $68.46 billion in 2022 to $73.98 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global gas equipment is expected to grow to $95.97 billion in 2027 at a CAGR of 6.7%.
The increase in demand for industrial gases for diverse applications is driving the growth of the gas equipment market. Industrial gases are manufactured for different industrial applications, such as manufacturing, oil refining, cleaning, and transportation. To meet the demands of industrial applications, several of them are provided in significantly bigger cylinders, which are sold and utilized in pure form or combined with other gases and stored in other ways. Oxygen, nitrogen, hydrogen, and carbon dioxide are some of the industrial gases that are used for various applications. Carbon dioxide can be used productively in processes such as increased oil recovery, the production of fuels, construction materials, and other things, or it can be stored in subterranean geologic formations. To capture carbon dioxide (CO2), Carbon Capture and Storage (CCS) facilities require various gas equipment which increases the demand for the gas equipment market. For instance, in 2021, according to the report released by the Global Carbon Capture and Storage Institute, an Australia-based non-profit organization, 149.3 million metric tons of carbon Dioxide (CO2) could be captured annually by the CCS facilities, in which 102 CCS facilities were under construction or in advanced stages. Therefore, increasing demand for industrial gases for diverse applications is expected to propel the growth of the gas equipment market over the coming years.
Major players in the gas equipment market are Rexarc International Inc., Hannay Reels Inc., Filtration Group, Donaldson Company Inc., Messer SE & Co. KGaA., Colfax Corporation, Parker Hannifin Corporation, John Wood Group PLC, Air Liquide S.A., Gas Control Equipment Ltd., Camfil Clean Air Solutions, Linde plc, Johnson Thermal Systems, Global Display Solutions S.p.A., Taiyo Nippon Sanso, Welsco Inc., The Messer Group GmbH, and Advanced Specialty Gases.
Technological advancements are a key trend gaining popularity in the gas equipment market going forward. Major companies operating in the gas equipment market are focused on developing new technological solutions to strengthen their position in the market. For instance, in January 2022, SuperFlash LLC, a US-based compressed gas safety and management company, launched the GA300, a new mobile, and compact gas analyzer. For systems without an inbuilt analyzer, the GA300 enables the analysis of gas mixtures. Processes involving food, beverages, and a wide range of industrial production applications all depend on gas analysis. With its simple menus and digital LCD display, the GA300, a light, durable, and low-maintenance device designed for mobility, is simple to operate. The GA300, which weighs little more than 13 lbs, is a device designed to continually monitor gas mixes. It can monitor up to 10 binary gas mixtures. The GA300 has the added advantages of being able to record, document, and integrate into the quality assurance process, in addition to enabling precise analysis of gas mixtures.
In April 2022, Air Products, a US-based company engaged in essential industrial gases, related equipment, and applications expertise for customers in industries, acquired Air Liquide for an undisclosed amount. With this acquisition, Air Products builds on many years of good experience working in and serving customers in the Middle East, and it complements its regional expansion strategy. Air Liquide is a France-based company engaged in industrial gases and services to various industries, including medical, chemical, and electronic manufacturers.
North America was the largest region in the gas equipment market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global gas equipment market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the gas equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the USA.
The gas equipment market consists of sales of air fuel torches, laser equipment, mixers, flowmeter, regulator. Values in this gas equipment market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The gas equipment market research report is one of a series of new reports from The Business Research Company that provides gas equipment market statistics, including gas equipment industry global market size, regional shares, competitors with a gas equipment market share, detailed gas equipment market segments, market trends and opportunities, and any further data you may need to thrive in the gas equipment industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.