(PharmaNewsWire.Com, December 01, 2021 ) MarketsandMarkets™ Research Report’s View on Revenue Impact?
The Global Laboratory Gas Generators Market is projected to reach USD 686 million by 2026 from USD 353 million in 2021, at a CAGR of 14.2% during the forecast period.
Factors Responsible for Growth and In-Depth Analysis?
The growth of the lab gas generators market is primarily driven by the growing importance of analytical techniques in drug and food approval processes, rising food safety concerns, increasing adoption of laboratory gas generators owing to their various advantages over conventional gas cylinders, growing demand for hydrogen gas as an alternative to helium, and the increasing R&D spending in target industries. On the other hand, reluctance shown by lab users in terms of replacing conventional gas supply methods with modern laboratory gas generators and the availability of refurbished products are the major factors expected to hamper the growth of this market.
Key Developments:
- In 2020, PeakGas launched various laboratory gas generators such as Genius XE SCI 2, MS Bench (G) SCI 2, MS Bench SCI 2, and i-Flow O2 oxygen gas generator.
- In 2019, Laboratory Supplies Ltd. (Ireland), a supplier of scientific, industrial, and laboratory apparatus, joined the distributor network of the Asynt Ltd.
The major players in the laboratory gas generators market are Parker Hannifin Corporation (US), PeakGas (UK), Linde plc (Ireland), Nel ASA (Norway), PerkinElmer Inc. (US), VICI DBS (US), Angstrom Advanced Inc. (US), Dürr Group (Germany), ErreDue spa (Italy), F-DGSi (France), LabTech S.r.l. (Italy), CLAIND S.r.l. (Italy).
PEAKGAS (UK) is one of the prominent players in the lab gas generators market. The leading position of the company can be attributed to its strong brand recognition and extensive product portfolio in this market. Peak’s two decades of experience in manufacturing laboratory gas generators gives it a cutting edge over other players operating in this market.
The company majorly focuses on organic growth strategies to maintain its foothold in the market. For instance, the company launched a range of gas generators in 2020, such as Genius XE SCI 2, MS Bench (G) SCI 2, MS Bench SCI 2, and i-Flow O2 oxygen gas generator. In order to increase its geographic presence and meet the growing customer demand, the company expanded its presence in the European and Asian markets.
Geographical Analysis in Detailed?
The laboratory gas generators market is divided into five regions, namely, North America, Europe, Asia Pacific, and Rest of the World. North America dominated the global lab gas generators market. The large share of the North American region is mainly attributed to the high investments in R&D in the US and Canada, which has led to a higher demand for efficient and advanced laboratory equipment.
The hydrogen gas generators segment accounted for the highest growth rate in the Laboratory gas generators market.
Based on type, segmented into nitrogen gas generators, hydrogen gas generators, zero air generators, purge gas generators, TOC gas generators, and other gas generators. The hydrogen gas generators segment accounted for the highest growth rate in the Labortaory gas generators market in 2020. This can be attributed to the growing preference for hydrogen as a cost-effective alternative to helium, as it offers faster analysis and optimal results.
Gas chromatography segment accounted for the highest CAGR
Based on application, the laboratory gas generators market is segmented into gas chromatography (GC), liquid chromatography-mass spectrometry (LC-MS), gas analyzers, and other applications. In 2020, gas chromatography accounted for accounted for the highest growth rate. The major factors driving the growth of this is the adoption of hydrogen over helium due to the latter’s high cost and scarcity in gas chromatography.
Life science industry accounted for the largest share of the laboratory gas generators market in 2020
Based on end user, segmented into the life science industry, chemical and petrochemical industry, food and beverage industry, and other end users (environmental companies and research & academic institutes). The life science industry accounted for the largest share of the global lab gas generators market. The major factors driving the growth of this segment are the rising demand for laboratory analytical instruments, increase in drug research activities, and stringent regulations relating to the drug discovery process.
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