As per the research report released by Transparency Market Research, the United States industrial gas regulator market size was valued at US$ 2537.5 Mn in 2018 and is slated to reach a valuation of US$ 3253.5 Mn in 2027, reflecting a CAGR of 2.8% during the assessment period 2019-2027.
The market is highly fragmented with the presence of many small and large players. Furthermore, there are a few well-established brand names such as The Linde Group, Honeywell, and Air LIquide S.A. that are making their presence felt in the U.S. industrial gas regulator market. These players enjoy a significant market share owing to their forward and backward integration in the ecosystem by providing integrated and turnkey solutions across various industries. Companies are working on product innovation and development to boost their market share. Some of the other prominent players operating in U.S. market are Chemicals Inc., Itron, Inc., and Praxair Technology, Inc.
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Demand of Inert gas regulators is very high in U.S. It is made up of materials that prevent unwanted chemical reactions from taking place. Such kind of regulators are used in various types of industries like chemicals, food and oil & gas. The regulators used to maintain the flow and pressure of toxic gas are considered under the toxic gas regulators segment. The application of toxic gas is found across industries including chemicals, petrochemicals, refineries, coal and oil & gas. The regulators that are used in places where there is a need to maintain the flow and pressure for corrosive gases are covered under the corrosive gas regulators segment. Typically, such kind of regulators are made up of stainless steel.
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Rise in Demand for Industrial Gas Regulators in Oil & Gas, Chemicals & Energy, Manufacturing, and Automobile
Strong growth in sectors such as oil & gas, chemicals & energy, and automobile is driving the U.S. industrial gas regulators market. Significant expansion in these key sectors has been creating demand for industrial gas regulators in U.S. In recent years, the oil & gas industry revolution has surprisingly helped to increase the demand for this sector and is expected to continue to boost the market.
Abundant new supplies of oil and gas are strengthening midstream and downstream chemicals and energy manufacturing. Industrial gas regulators play an important role in controlling, monitoring, and maintaining the flow of gas and pressure in these sectors. Furthermore, advancement in automobile technology is leading to the development of automobiles that run on liquefied natural gas. This is also boosting the industrial gas regulator market.
Increase in Demand for Technologically Advanced Gas Regulators
Advancements in existing products and product innovation due to efforts undertaken by key players are other factors driving the market. These initiatives are resulting in the creation of products with high degree of operational ability, safety, and efficiency.
Innovation in gas regulator technologies is expected to set a new standard in performance by changing the structure used in normal regulators with pistons in order to enable these to work at an increased frequency as well as improved and reliable pressure stability. Furthermore, increase in awareness about the advantages of industrial gas regulators is one of the prominent factors augmenting the U.S. industrial gas regulators market.
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