The Laboratory Gas Generators Market is projected to reach USD 508 million, at a CAGR of 12.7% during the forecast period.
According to the new market research 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” published by MarketsandMarkets™.
Recent Developments in 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.
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Market Segmentation in Depth:
The gas chromatography segment is expected to grow at the highest CAGR during the forecast period.
On the basis of 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 GC segment is expected to grow at the highest CAGR during the forecast period, mainly due to its advantages such as convenience, safety, extended downtime, optimal analysis, and elimination of hazardous gas cylinders.
The pharmaceutical & biotechnology companies segment accounted for the largest share of the laboratory gas generators market in 2019.
On the basis of end user, the market is segmented into pharmaceutical & biotechnology companies, chemical & petrochemical companies, food & beverage companies, other end users (environmental companies and research & academic institutions). The pharmaceutical & biotechnology companies segment commanded the largest share of the market in 2018. Factors such as the rising demand for laboratory analytical instruments, rising drug research activities, stringent drug discovery regulations, and lab automation are contributing to the large share of this end-user segment.
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Geographical Regions Mapped in Report:
On the basis of region, the market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2018, North America accounted for the largest share of the market, followed by Europe. However, Asia is expected to grow at the highest CAGR during the forecast period. Market growth in this region is primarily driven due to the significant outsourcing of clinical trials to Asian countries, among other factors.
Who are the key players operating in the global lab gas generators market?
The laboratory gas generators market is a highly diversified and competitive market, with several large as well as emerging players. Players in the market include 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).