CHICAGO, Jan. 11, 2022 /PRNewswire/ -- According to the new market research report "Industrial Nitrogen Generator Market by Technology Type (PSA, Membrane-based, Cryogenic based), Size and Design, End-use Industry (F&B, Medical & Pharmaceutical, Transportation, C&P, E&E, Manufacturing) and Region - Global Forecast till 2026" , published by MarketsandMarkets, the market size is projected to reach USD 5.5 billion by 2026 from USD 4.2 billion in 2021, at a CAGR of 5.4% during the forecast period.
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The growing demand for industrial nitrogen generator from the processed food sector is driving the market. In addition, increasing demand from end-use industries such as transportation, medical & pharmaceutical, chemical, and manufacturing as well as increasing demand due to growing consumer electronics sector is also driving the industrial nitrogen generator market. Growth in urbanization in the emerging economies, such as APAC, Middle East & Africa, and South America are also driving the market.
Based on technology type, PSA industrial nitrogen generators is estimated to be the largest market in the overall industrial nitrogen generator market in 2021.
PSA industrial nitrogen generators are widely used in various industries. The PSA industrial nitrogen generators segment is the largest, which is projected to continue till 2026. The key growth driver of the high consumption of these industrial nitrogen generators is their use by the food & beverage industry in processing and packaging applications to achieve better quality and longer shelf life. PSA nitrogen generators are also used in automotive electronics, consumer electronic product manufacturing, and metal processing, and so on. These are most commercially used industrial nitrogen generators owing to ease of use, efficient operations, and low cost.
Based on size, stationary industrial nitrogen generators is estimated to be the largest market in the overall industrial nitrogen generator market in 2021.
Stationary industrial nitrogen generators are widely used in food & beverage industry. The stationary industrial nitrogen generator segment is the largest, which is projected to continue till 2026. The key growth driver of the high consumption of these industrial nitrogen generators is their use in various industries. Stationary industrial nitrogen generators are self-contained and fully integrated and do not require separate air. This also eliminates the requirement of handling high-pressure cylinders. These systems are highly durable and stable under normal operating conditions.
Based on design, plug & play-based industrial nitrogen generators is estimated to be the largest market in the overall industrial nitrogen generator market in 2021.
Plug &play industrial nitrogen generators are widely used. The plug & play industrial nitrogen generators segment is the largest, which is projected to continue during the forecast period. The key growth driver of the high consumption of these industrial nitrogen generators as they are compact in design and provide the operator with easy accessibility and autonomous function. These systems can be modular or stationary depending on the requirement, provide multistage filtration, are energy-efficient, and have optimum connectivity for real-time information gathering. Plug & play systems are also cost-effective, customizable, reliable, and safe to operate.
Based on end-use industry, food & beverage is expected to be the largest industrial nitrogen generator segment in 2021.
Food & beverage is the largest end-use industry of the industrial nitrogen generators market owing to the increased demand for better quality packaged food items, growth in demand for convenient foods, reduction in food wastage, and increasing urbanization in the emerging economies. These equipments keep the processed foods fresh for a longer time, absorb moisture, and increase the shelf life of the products. In addition, the rise in income levels and the growth of the middle-class population are also driving demand for industrial nitrogen generators in the food & beverage industry.
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Based on region, APAC is projected to grow the fastest in the industrial nitrogen generator market during the forecast period.
APAC is the fastest-growing market for industrial nitrogen generators. This is mainly credited to emerging economies, such as India, China, Indonesia, Malaysia, Singapore, Vietnam, and Thailand, in the region, where consumption for packaged and convenient food products are growing annually. Additionally, increase in population and growing urbanization rate are also driving the market for quality processed food products and boosting industrial nitrogen generator consumption. In addition, progress in industrialization, increasing demand due to changing demographics, such as improving living standards, rising disposable incomes, and government initiatives to attract business investments in industries such as automotive, marine, petrochemical, electronics, oil & gas, and chemical are also driving the market for industrial nitrogen generators in the region.
The key players in the industrial nitrogen generator market include Parker Hannifin Corporation (US), Ingersoll Rand (US), Air Products and Chemicals, Inc. (US), Atlas Copco (Sweden), Air Liquide (France), Hitachi Industrial Equipment System Company (Japan), Inmatec (Germany), Linde Plc (UK), Novair SAS (France), and Oxymat A/S (Denmark). These players have established a strong foothold in the market by adopting strategies, such as new product launches, investment & expansion, agreement & collaboration, and mergers & acquisitions.
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