Laboratory Gas Generators Market Worth $508 million | Growing Demand for Hydrogen Gas as an Alternative to Helium

PUNE, India, 2020-Jun-12 — /EPR Network/ —

[123 Pages Report] The Laboratory Gas Generators Market is projected to reach USD 508 million by 2024 from USD 279 million in 2019, at a CAGR of 12.7% during the forecast period.

Market Size Estimation;

Both top-down and bottom-up approaches were used to estimate and validate the total size of the laboratory gas generators market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

• The key players in the industry and markets have been identified through extensive secondary research
• The revenue generated from the sales of laboratory gas generators by leading players has been determined through primary and secondary research
• All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

Data Triangulation;

After arriving at the overall market size from the market size estimation process, the total market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Browse 83 market data Tables and 24 Figures spread through 123 Pages and in-depth TOC –  Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=133302129

Market Segmentation in Depth:

Based on type, the laboratory gas generators market is segmented into nitrogen gas generators, hydrogen gas generators, zero air generators, purge gas generators, and others (oxygen gas generators, calibration gas generators, and dry air generators).The hydrogen gas generators segment is expected to grow at the highest CAGR during the forecast period, owing to advantages such as a growing preference for hydrogen as a cost-effective alternative to helium, as it offers faster analysis and optimal results.

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 (light scattering detectors, evaporators, microwave plasma-atomic emission spectrometers, and sample preparation instruments). The LC-MS segment accounted for the largest share of the laboratory gas generators market in 2018.

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Geographical Analysis:

In 2019, North America accounted for the largest market share, followed by Europe. The large share of this market can primarily be attributed to the strong economies in the US and Canada, which has led to a higher demand for efficient and advanced laboratory equipment. Growth in the North American market is supported by the importance of lab automation, government funding for R&D, and stringent requirements for high-purity gases.

The prominent players in the laboratory gas generators market are Parker Hannifin Corporation (US), Peak Scientific Instruments Ltd. (UK), Praxair Technology, Inc. (UK), Nel (Norway), F-DGSi (France), VICI DBS (US), LNI Swissgas Srl (Switzerland), LabTech S.r.l. (Italy), Claind S.r.l. (Italy), and ErreDue s.p.a. (Italy).