Future Market Insights highlights a rising demand for gas feed systems globally. This growth is fueled by two key trends: the increasing focus on sustainability in manufacturing and the global economic revival. Automation plays a central role, with gas feed systems ensuring a smooth flow of gas in automated production lines.
NEWARK, Del., April 23, 2024 /PRNewswire/ — The global industrial landscape is witnessing a significant rise in the demand for gas feed systems. This trend is attributed to the increasing focus on sustainability and the revival of economies across the globe. As production units and manufacturing sectors become more automated, the demand for gas feed systems is poised to grow even further.
By the end of 2034, the market valuation is expected to reach a staggering US$ 1,592.2 million, which is a significant increase from the current valuation of US$ 906.4 million as of 2024.
The automation of production units has brought about a paradigm shift in the manufacturing sector. Gas feed systems play a vital role in the automation of production units, as they help maintain a consistent flow of gas to the production line.
With the growing emphasis on automation and digitization, the demand for gas feed systems is expected to witness a steady rise in the coming years. The market is poised to grow at a CAGR of 5.80% through 2034.
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“The ongoing sustainability trend has significantly influenced the market for gas feed systems. Developing and underdeveloped countries are appreciably cutting their dependence on fossil fuels. Key players must leverage this opportunity”, says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Key Takeaways from the Market Study
- The industrial segment dominates the gas feed system market by application, with a share of 31.40% in 2024.
- Based on the gas type, chlorine gas feed systems lead the market with a share of 45.70% in 2024.
- The market in the United States is predicted to rise at a 4.80% CAGR through 2034.
- The market in South Korea is anticipated to grow at a CAGR of 6.40% through 2034.
- The market in Spain is estimated to rise at a 5.20% CAGR through 2034.
- The market in Japan has the potential to increase at a 5.20% CAGR through 2034.
- The market in Australia is predicted to rise at a 6.40% CAGR through 2034.
- The market in India is very likely to grow at a CAGR of 5.40% through 2034.
Competitive Landscape
The gas feed system market is highly competitive, especially in countries with limited natural resources and high energy requirements.
- The introduction of natural gas vehicles and the need for countries to reduce their dependence on imported oil and gas creates opportunities for market players to expand their business.
- Ongoing sustainability trends in various industries will also benefit the gas feed systems market.
- To gain more traction, companies in the industry must market their products and offerings in both developed and emerging economies.
- Some of the most prominent companies in the industry include Linde plc, Air Products and Chemicals, Inc., Air Liquide S.A., Praxair, Inc. (now part of Linde plc), Messer Group GmbH, Matheson Tri-Gas, Inc., and Taiyo Nippon Sanso Corporation.
Purchase now and gain full access to the Gas Feed System Industry report, featuring comprehensive Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives.
Recent Developments:
- In February 2024, Mermaid Subsea Services and MCS Group partnered with EnergyPathways for the Marram field project in the Irish Sea, aiming to reduce costs and expedite delivery.
- In January 2011, Tokyo Gas and Bio Energy Corp. fed food waste-derived biogas into Tokyo’s city gas grid, cutting 1,360 tons of CO2 annually and pioneering Japan’s energy conservation efforts.
- In September 2020, the Hanford Waste Treatment and Immobilization Plant completed testing its high-purity gas systems, marking a crucial step toward operational readiness for treating tank waste.
- In January 2024, Essar Oil UK Ltd chose Belco Technologies Corp. for gas cleaning at the Stanlow refinery, UK, to cut carbon emissions by 95% by 2030.
- In November 2023, Hydron Energy Inc. received a US$ 365,000 grant from the Natural Gas Innovation Fund to scale up its INTRUPTor system that converts raw gases into renewable natural gas.
About the Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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