To Reach $14.6 Bn Nitrogen Generators Market Enhancing Growth and Sustainibilty by 2032

Benefits of nitrogen generators, and growth in popularity of sustainable development drive the growth of the global market.

WILMINGTON, DELAWARE, UNITED STATES, March 27, 2024 /EINPresswire.com/ — Key drivers of growth
The global nitrogen generators market is propelled by several prime factors including increased industrialization, the advantages offered by nitrogen generators, and the growing emphasis on sustainable development. Nevertheless, the market growth is hindered by the substantial initial investment required for acquiring nitrogen generators. However, a surge in investments in the semiconductor industry across both developed and developing economies presents promising opportunities in the foreseeable future.

The nitrogen generators market size was valued at $8.1 billion in 2020, and is estimated to reach $14.6 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.

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PSA nitrogen generator segment to maintain dominance
In terms of segmentation, the Pressure Swing Adsorption (PSA) nitrogen generator segment emerged as the frontrunner in 2020, holding the majority market share and is anticipated to uphold its leading position throughout the forecast period. PSA nitrogen generators are renowned for their ability to produce nitrogen with exceptionally high purity levels exceeding 99.9%, ensuring consistent quality in industrial operations. Moreover, their adaptability to various flow rate requirements and energy-efficient operation through pressure swing adsorption process further enhance their appeal. Nonetheless, the membrane nitrogen generator segment is poised to witness the highest Compound Annual Growth Rate (CAGR) of 5.4% from 2023 to 2032. Membrane nitrogen generators offer advantages such as reduced maintenance needs and enhanced operational reliability due to their fewer moving parts, along with user-friendly operation, making them easily integrable into diverse industrial processes.

Chemicals segment to maintain market leadership
In terms of end-users, the chemicals segment led the market in 2020, accounting for over one-fourth of the global nitrogen generators market share and is projected to maintain its dominance throughout the forecast period. Nitrogen’s indispensable role in various chemical and petrochemical applications, prioritizing safety, process optimization, and environmental concerns, underpins its significance in this sector. However, the electrical and electronics segment is forecasted to exhibit the highest CAGR of 5.9% from 2023 to 2032. Nitrogen finds widespread use in electronics manufacturing for soldering and as blankets, while also playing a pivotal role in semiconductor manufacturing processes.

North America to retain market supremacy
Regionally, North America emerged as the dominant market in 2020, capturing over one-third of the global nitrogen generators market revenue, a trend expected to persist through the forecast period. The burgeoning manufacturing industry in North America, fueled by rising demand for locally manufactured goods, is a key contributor to this regional dominance. Conversely, the Asia-Pacific region is poised to witness the swiftest CAGR of 5.7% from 2023 to 2032, propelled by rapid industrialization and economic expansion, particularly in the manufacturing sector.

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Key Market Players:
• Air Liquide S.A.
• Air Products and Chemicals, Inc.
• Atlas Copco AB
• Hitachi Industrial Equipment Systems Co., Ltd.
• Linde plc
• NOVAIR SAS
• On Site Gas Systems, Inc.
• Parker Hannifin Corporation
• Peak Gas Generation
• PCI

KEY FINDINGS OF THE STUDY

The report provides an extensive analysis of the current and emerging nitrogen generators market trends and dynamics.
On the basis of type, the PSA nitrogen generator dominated the nitrogen generators market, in terms of revenue in 2020 and the membrane nitrogen generator segment is projected to grow at a significant CAGR during the forecast period.
On the basis of end user, the chemical segment registered highest revenue in 2020.
Asia-Pacific is projected to register highest growth rate in the coming years.
The key players within the nitrogen generators market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the nitrogen generators industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth nitrogen generators market analysis is conducted by constructing estimations for the key segments between 2022 and 2032.

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Nitrogen Generators Market – https://www.prnewswire.com/news-releases/nitrogen-generators-market-to-reach-14-6-billion-globally-by-2032-at-4-8-cagr-allied-market-research-302047779.html

David Correa
Allied Market Research
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