Industrial Gas Cylinders Market is Anticipated to Grow at an Impressive CAGR During 2021-2026
The Industrial Gas Cylinders Market is segmented by Gas Type (Oxygen, Nitrogen, Carbon Dioxide, Helium, Argon, Acetylene, and Others), and Region (North America, Europe, Asia-Pacific, and the Rest of the World).
COVID-19 Impact
The COVID-19 pandemic brought severe repercussions for various end-use industries all across the globe, such as supply chain disruption, shortage of labor, interruption in production schedules, and shot up in raw material prices. The slowdown of industrial activities has led to a massive decline in the industrial gas cylinders market in 2020. However, the stabilization of the COVID-19 situation and increase in industrial activities will help the market of industrial gas cylinders to gain momentum. Also, the rapid industrialization of developing economies is expected to further accelerate the market. Based on the expected recovery in the demand coupled with the primary interviews with the industry experts.
Critical Questions Answered in the Report
- What are the key trends in the market?
- How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
- What is the impact of COVID-19 on the market?
- What are the key strategies adopted by the major vendors to lead in the market?
- What is the market share of the top vendors?
Key Players
The supply chain of this market comprises raw material suppliers, cylinder manufacturers, and industrial gas companies. Following are the key players in the industrial gas cylinders market.
- Beijing Tianhai Industry Co., Ltd.
- Catalina Cylinders
- Cylinders Holding Group
- Everest Kanto Cylinder Ltd.
- FABER INDUSTRIE SPA
- Grupo Mat
- INFLEX-Argentoil S.A.
- Luxfer Holdings PLC
- TriMas Corporation (Norris Cylinder
- Worthington Industries, Inc.
Segment Analysis
Gas Type
The gas type as oxygen, nitrogen, carbon dioxide, helium, argon, acetylene, and other industrial gases. Oxygen gas cylinders dominated the market due to their extensive usage in a broad array of applications, such as oxidation reactions in chemical manufacturing, steel manufacturing, transporting live seafood products, aquaculture, and water treatment applications. However, nitrogen gas is projected to witness the highest growth during the forecast period, driven by the magnificent growth of the pharmaceutical and semiconductor industries.
Regional Analysis
Asia-Pacific dominated the industrial gas cylinders market in 2020. Also, the region is likely to witness excellent growth during the forecast period, driven by the exceptional growth in the region’s electronics, chemical, and petrochemical industries. China and India are likely to act as the major growth engines of the region’s market in the coming years.
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