Laboratory Gas Generators Market Worth $508 million – Global Industry Segments and Recent Developments

Laboratory Gas Generators Market

PUNE, India, 2021-Mar-18 — /EPR Network/ — The Global Laboratory Gas Generators Market estimating the current size and Exhaustive secondary research was conducted to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing values with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size.

According MarketsandMarkets™ Research – The report “Laboratory Gas Generators Market by type (Nitrogen, Hydrogen, Zero Air, Purge Gas, ToC), Application (GC, LCMS, Gas Analyzer), Enduser (Pharma, Biotech, CRO, Chemical, Petrochemical, Food & Beverage, R&D, Environmental Companies) – Global Forecast to 2024″, the Lab 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.

The Growth is mainly driven by rising safety concerns related to the use of conventional gas cylinders, the growing demand for hydrogen gas as an alternative to helium, increasing R&D spending in target industries, and the growing importance of analytical techniques in drug and food approval processes. On the other hand, the reluctance to replace conventional gas supply methods with modern laboratory gas generators is a major factor challenging market growth.

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“The hydrogen gas generators segment is expected to grow at the highest CAGR during the forecast period.”

Based on type, 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. The trend of high-purity dry hydrogen replacing helium is considered as a major opportunity area for players operating in this market. In addition to their enhanced safety, hydrogen gas generators offer other advantages such as simple installation and cost-efficiency.

“The LC-MS segment accounted for the largest market share in 2019.”

Based on application, 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. The large share of this segment is attributed to the significant usage of LC-MS by clinical research laboratories. Their high efficiency and expandable nitrogen generation capacity have also supported their utilization in LC-MS applications.

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Recent Developments in Lab Gas Generators Market;

# In May 2017, Peak Scientific announced the expansion of its regional office in Brazil.

# In November 2018, Praxair (US) signed an agreement with Phillips 66 (US) to supply high-purity hydrogen for Phillips’ 66 Sweeny Refinery

# In February 2017, NEL (Norway) acquired Proton Energy Systems Inc. (Proton Onsite) (US) to become the world’s largest supplier of products based on the Proton Exchange Membrane (PEM) technology.

Global Key Leaders: 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).