Industrial Gas Handling Equipment Market: Introduction
- Industrial gas handling equipment is a part of the material handling and maintenance sector in the manufacturing industry. These equipment are widely used to protect industrial workers and environment by reducing the hazard of gas leakage. Some of the major gas handling equipment used in the industry includes safety cabinets, containers, drum handling equipment, smoking receptacles, and environmental spill containment products. It is embedded with effective emergency treatment, such as safety showers and gas storage equipment, to avoid injuries and devastating accidents. The factors mentioned above are expected to boost the industrial gas handling equipment market during the forecast period.
Key Drivers and Opportunities of the Global Industrial Gas Handling Equipment Market
- The industrial gas handling equipment market has been expanding for the last few years due to safety and security standards implemented across the industrial sector. The industrial gas handling equipment market is projected to expand significantly due to an increase in use of gases in healthcare & medical, chemical, metal fabrication, mining, and oil & gas sectors. Thus, stringent norms for using safety handling equipment, expansion of the industrial sector, reduced trading barrier, multipurpose use, and rising awareness about industrial gas handling equipment among industrial companies are major factors that are projected to propel the global industrial gas handling equipment market during the forecast period.
- Increase in the implementation of total productive maintenance and good practices in different industries are anticipated to drive the global industrial gas handling equipment market during the forecast period
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- However, a major challenge for the global industrial gas handling equipment market is the ignorance about industrial gas handling among industries. This is expected to hamper the industrial gas handling equipment market during the forecast period.
- New product development in industrial gas handling equipment and collaboration of market players with manufacturers are expected to create significant opportunities for the industrial gas handling equipment market during the forecast period
North America and Europe to Hold Major Share of Global Industrial Gas Handling Equipment Market
- In terms of region, the global industrial gas handling equipment market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America and Europe are expected to hold a major share of the global industrial gas handling equipment market during the forecast period due to the expansion of the industrial sector and stringent government rules and regulations in these regions
Key Players Operating in Global Industrial Gas Handling Equipment Market
- Air Products Ireland Ltd.
- Applied Energy Systems, Inc.
- Colfax Corporation
- GCE Holding AB
- Globe Gas Equipments Industry Pvt. Ltd.
- Iwatani Corporation
