Laboratory Gas Generators Market worth $686 million by 2026 – Parker Hannifin Corporation (US) and Peakgas (UK) are Leading Key Players

The report Laboratory Gas Generators Market by type (Nitrogen, Hydrogen, Zero Air, Purge Gas, ToC), Application (Gas Chromatography, LC-MS), End user (Life Science Industry, Chemical & Petrochemical Industry, Food & Beverage Industry) – Global Forecast to 2026″, the global lab 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.

The growth of the laboratory 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.

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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.

Geographical View in-detailed:

The lab gas generators market is divided into five regions, namely, North America, Europe, Asia Pacific, and Rest of the World. North America dominated the global laboratory 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.

Global Key Leaders:

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).

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PARKER HANNIFIN CORPORATION (US);

Parker Hannifin is one of the leading providers of laboratory gas generators. With a wide distribution network across the globe, the company has established itself as one of the leading players in the laboratory gas generators market. The company has installed over 40,000 units of laboratory gas generators globally. The company offers a wide range of products in the laboratory gas generators market. The company’s gas generators produce gas purity levels that are the highest in the industry.

PEAKGAS (UK);

PeakGas is one of the prominent players in the laboratory 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.

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