Published on : Apr 25, 2018
Albany, New York, April 25, 2018: The demand for industrial gas regulators in the United States has received a huge boost in recent years. This is primarily because the use of industrial equipment that uses natural gas as a fuel is expanding rapidly in the region. A fresh study, titled “Industrial Gas Regulator Market - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2024” has been broadcasted to the wide database of Market Research Hub (MRH), which provides a holistic perspective on industrial gas regulator market growth in terms of revenue estimates (in US$ Mn) and volume (in Mn Units) in U.S. Moreover, the research also embraces analysis of market dynamics including drivers, restraints, and opportunities that influence the current nature and future status of this market.
Gas regulators play an important role in maintaining, monitoring and controlling the flow of gas and pressure in natural gas fuelled appliances. Also, they ensure safe and effective operations in different applications across various industries, which includes oil & gas, chemical, steel & metal processing, pharmaceutical, food & beverages and others. Presently, the growth of the oil and gas sector has positively influenced the energy-dependent industries such as power generation and chemicals, which has led to an amplified demand for pressure control equipment in North America. As per the research projections, the U.S. industrial gas regulator market was valued at US$ 2,468.4 Mn in 2017 and is slated to reach an assessment of US$ 3,030.5 Mn in 2024, imitating a CAGR of 2.9% during the assessment period 2017-2024.
Moving further, the researchers analyzed that industrial boilers and furnaces have led to growing demand for industrial gas regulators. Boilers that are run on natural gas and furnaces are used in various types of industries, which include food, paper, chemicals, refining, and manufacturing. The impact of this driver on the industrial gas regulator market in the United States is expected to be high during the coming years due to the increasing demand for large and small boilers in industries for manufacturing processes.
Apart from the above elements, the research study includes U.S. industrial gas regulator market cross segment analysis based on the different segments including gas type, regulator type and application. Based on the gas type, the market is divided into the inert, corrosive and toxic. Based on regulator type, the market is segmented into a single stage and dual stage. On the basis of application, the report has found that the growing popularity of gas-powered automobile is anticipated to deliver a newfound growth prospect for industrial gas regulators across the automobile industry.
Based on the gas type, the inert gas segment was valued at US$ 1,477.8 Mn in 2017. This is primarily due to the large application of natural gas across various industrial sectors and increasing adoption of inert gas to avoid unwanted chemical reactions.
At last, the research highlights few well-established brand names such as The Linde Group, Honeywell, and Air LIquide S.A. that are making their presence felt in the U.S. industrial gas regulator market.
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