Global Gas Equipment Market Forecast To Reach $102.01 Billion By 2028 With 7.0% Annual Growth

The Business Research Company’s Gas Equipment Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

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The gas equipment market has seen significant growth in recent years, expanding from $72.79 billion in 2023 to a projected $77.92 billion in 2024, with a compound annual growth rate (CAGR) of 7.0%. This past growth has been driven by trade liberalization, advancements in research and development, new natural gas discoveries, infrastructure improvements, and evolving regulatory changes.

What Are the Market Size Estimates for the Global Gas Equipment Market and Its Expected Growth Rate?
The gas equipment market is projected to experience substantial growth in the coming years, reaching $102.01 billion by 2028 at a compound annual growth rate (CAGR) of 7.0%. This expected growth is driven by concerns around energy security, population growth, the transition to renewable gas, advancements in digitalization, and supportive government subsidies.

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What Are The Primary Growth Drivers Of The Gas Equipment Market?
The rising demand for industrial gases across various applications is fueling the growth of the gas equipment market. Industrial gases are produced for use in manufacturing, oil refining, cleaning, and transportation, and are often provided in large cylinders, either in pure form or blended with other gases for storage. Common industrial gases include oxygen, nitrogen, hydrogen, and carbon dioxide, each serving distinct purposes. For instance, carbon dioxide is effectively used in enhanced oil recovery, fuel production, construction materials, and other applications, or it can be stored in underground geological formations. Carbon Capture and Storage (CCS) facilities, which are essential for capturing CO₂, require extensive gas equipment, further driving demand in the gas equipment market.

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Who Are The Top Market Players Contributing To The Growth Of The Gas Equipment Market?
Key players in the gas equipment market include BASF SE, Nippon Sanso Holdings Corporation., Linde plc, Air Liquide S.A., ABB Ltd., Parker Hannifin Corporation, Atlas Copco AB, Praxair Inc., Iwatani Corporation, John Wood Group plc, The Messer Group GmbH, Colfax Corporation, Donaldson Company Inc., Itron Inc., Matheson Tri-Gas Inc., Messer SE & Co. KGaA, Chart Industries Inc., Filtration Group Inc., Camfil AB, Johnson Thermal Systems Inc., GCE Holding AB, Cryostar SAS, FIBA Technologies Inc., Xebec Adsorption Inc., Gas Control Equipment Ltd.

What Emerging Trends Are Affecting The Size Of The Gas Equipment Market?
Leading companies in the gas equipment market are focusing on developing innovative products like pressure-reducing regulators to strengthen their market position. These regulators are devices engineered to reduce and control the pressure of incoming gas from a high-pressure source to a designated lower level, suitable for downstream applications.

How Is the Global Gas Equipment Market Segmented?
1) By Equipment Type: Gas Delivery Systems, Gas Regulators, Flow Devices, Purifiers And Filters, Gas Generating Systems, Gas Detection Systems, Cryogenic Products, Accessories
2) By Gas: Nitrogen, Hydrogen, Helium, Oxygen, Carbon Dioxide, Others Gases
3) By Process: Generation, Storage, Detection, Transportation
4) By End-User: Metal Fabrication, Chemical, Healthcare and Medical, Oil and Gas, Other End Users

Geographical Analysis: North America Emerges as the Gas Equipment Market Leader
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is The Definition And Overview Of The Gas Equipment Market?
Gas equipment refers to tools and devices used with gas, such as appliances, pipelines, fuel containers, and vents. It excludes pressure vessels or portable gas containers that are not connected to the system. A gas system is defined as an assembly of tubes, pipes, ducts, fittings, and valves for distributing, circulating, and conveying gas. Gas equipment is essential for various gas-related applications, including piping, appliances, fuel containers, and venting systems.

The Gas Equipment Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Gas Equipment Market Report: Trends, Opportunities, Strategies, and More
The Gas Equipment Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into gas equipment market size, gas equipment market drivers and trends, gas equipment competitors' revenues, and gas equipment market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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Oliver Guirdham
The Business Research Company
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