by The global nitrogen generators market is poised for stable growth, driven by the increasing adoption of various nitrogen generators across industrial applications. Notably, the food and beverage industry is playing a pivotal role in propelling market expansion. Nitrogen, widely used in food packaging and processing, as well as in alcoholic beverages, is proving instrumental in delivering top-quality products. Oxygen and moisture, if present, can adversely affect food quality and structure, but nitrogen creates an inert atmosphere that aids in preserving perishable food items and extending their shelf life. This has led to a surge in nitrogen utilization in the production of beverages such as beer, juices, and wine. Consequently, the growing adoption of nitrogen in the food and beverage sector is expected to be a significant driver of global nitrogen generators market growth.
Surge in Demand for Plug and Play Nitrogen Generators
The demand for plug and play nitrogen generators is set to experience remarkable growth in the coming years. These systems offer several structural and functional benefits, including compact design, autonomous operation, and easy accessibility for operators, which have led to their widespread adoption across various industries. Plug and play nitrogen generators can be either stationary or modular, depending on the job requirements, and they boast high energy efficiency, multistage filtration, and cost-effectiveness. Furthermore, these systems provide optimal connectivity for real-time data gathering and are safe to operate. The increasing demand for plug and play nitrogen generators is expected to bode well for the nitrogen generators market.
PSA Nitrogen Generators: A Major Contributor to Value Growth
Sales of Pressure Swing Adsorption (PSA) based nitrogen generators are anticipated to witness substantial growth. These generators find increasing demand across industries such as transportation and logistics, food and beverages, electronics, pharmaceuticals, and manufacturing. PSA-based nitrogen generators produce a continuous flow of nitrogen gas using pressure swing adsorption from purified and compressed air. Their popularity is attributed to their ease of use, cost-effectiveness, efficient operations, ability to provide high-purity nitrogen, flexible nitrogen supply, and reliable service life. The adoption of PSA generators is expected to contribute significantly to the value growth of the nitrogen generators market.
Asia Pacific Emerges as a Lucrative Region
The Asia Pacific region is poised for significant growth in nitrogen generator demand. While developed nations in North America are expected to retain a substantial share in the nitrogen generators market, emerging economies in Asia Pacific are becoming the next destination of choice due to their higher market attractiveness. Factors such as the economic advancement of countries like China, India, Singapore, Thailand, and Malaysia, along with increasing urbanization and population growth, are driving the demand for various consumables, especially packaged and convenience food products.
Additionally, urbanization, improving living standards, and government initiatives like Made in China 2025 and Make in India are attracting numerous companies across industries such as packaging, automotive, food and beverages, and oil and gas. This has further accelerated the use of nitrogen for critical applications like the removal of Volatile Organic Compounds (VOCs), preserving the freshness of food products in modified atmosphere packaging, and preventing oxidation during the development of new metals. Consequently, emerging economies in Asia Pacific are expected to offer high growth opportunities for the market in the coming years.
Competitive Landscape
Major players in the nitrogen generators market are actively pursuing growth strategies such as collaborations, mergers, acquisitions, and alliances to strengthen their market positions. For instance, in 2021, Atlas Copco completed the acquisition of Purification Solutions LLC, a leading manufacturer of nitrogen generators, aiming to enhance its market share and expand its business across North America and Europe. Similarly, in March 2020, Ingersoll Rand and Gardner Denver Holdings concluded their merger to provide a broader and stronger portfolio of energy, specialty vehicle, and medical products and services.
Key players in the market include Parker Hannifin Corporation, Atlas Copco, Linde Plc, Ingersoll Rand, Air Liquide, Novair SAS, Hitachi Industrial Equipment System, On Site Gas Systems Inc., and Air Products and Chemicals Inc.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/nitrogen-generators-market
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This press release first seen on Brilad
COMTEX_442085759/2840/2023-10-18T16:49:25
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.