The U.S. industrial gas regulators market was valued at US$2.3 bn in 2015 and is expected to be worth US$3.0 bn by the end of 2024. During the forecast years of 2016 and 2024, the overall market is expected to rise at a CAGR of 3%.
Albany, NY -- (SBWIRE) -- 03/02/2017 -- With a prime focus on the United States market, a new study has been released and added to the vast repository of Market Research Hub (MRH), entitled as "U.S. Industrial Gas Regulator Market and Forecast 2016-24". The main purpose of the study is to provide a holistic perspective of the market, together with the brief analysis on market driving trends, restraints and future growth opportunities. By analyzing the overall market scenario, research analysts have estimated that the U.S. industrial gas regulators market will reach a valuation of US$3.0 bn by the end of 2024. Additionally, the overall market is expected to witness a upsurge of 3% CAGR during the forecast period of 2016-2024.
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Moreover, the report describes that oil and gas industry is foreseen to lead the U.S. industrial gas regulators market. The prime reason for this dominance is due to the increasing demand for new, enhanced and advanced gas regulators for maintaining gas pressure during fluctuating temperatures.
In the initial section, the report starts by defining the scope and demand for Industrial gas regulators from several years. The industrial gas regulators are used for controlling, maintaining and monitoring the pressure of the gas and also to maintain the direction of gas in the piping system. In terms of applications, the industrial gas regulators are applicable in a large number of industries which includes oil & gas, chemical, steel & metal processing, pharmaceutical, food & beverages and others.
On the basis of gas type, the market has been categorized into:
Based on regulator type, the market is segmented into a single stage and dual stage. Among these, the demand for single stage regulators is projected to do impressively well and remain steady due to their widening applications such as chromatography, high purity chamber and pressurization calibration. Further, the report provides market attractiveness analysis for each of the segment based on their CAGR and market share.
Moreover, the study finds that the increasing usage of natural gas, a key fuel for various industrial processes, is one of the crucial factors which is anticipated to trigger a demand for industrial gas regulators in the coming years. As industries are using natural gas to run boilers & heaters, they are expected to make use of gas regulators. The overall market also stands to benefit from the booming oil and gas, chemical, steel & metal and automotive industries.
Moving further, competitive landscape section covers the details of the key players operating in the market. They are as follows:
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Air Products and Chemicals Inc., Emerson Electric Co., Air Liquide S.A., Praxair Technology, Inc., GCE Group, Cavagna Group Spa., Itron, Inc., Rotarex S.A., Honeywell Process Solutions and The Linde Group,
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