Gas equipment helps to measure gas pressure, gas level, and detects the presence of harmful gases in the surroundings. Various regulatory reforms across the world controls the quality, safety, and standards of gas equipment. Gas equipment have easy maintenance, cost less, and are easy to operate. All these benefits make the gas equipment market highly popular worldwide. Usage of industrial gas such as atmospheric gas, hydrogen, acetylene, helium, and others in different industries such as chemical, oil & gas, and healthcare and medical has increased over time. In addition, increasing adoption of gas detectors due to growing operations of shale gas exploration and increasing demand for safety purposes is expected to drive the overall gas equipment market during the forecast period. Furthermore, technological advancements are resulting in increased product efficiency. As a result, demand for gas equipment has increased across the world. Increasing presence of gas equipment manufacturers and growing presence of distribution networks worldwide are expected to create huge opportunities during the forecast period. Apart from this, technological advancements and new product developments are expected increase the demand for gas equipment in North America, Asia Pacific, Europe, South America, and Middle East & Africa. However, the gas equipment device market is experiencing intense competition due to new entrants and the competitive pricing strategies adopted by players. The detector, storage and controllers are products that are offered by manufacturers on similar lines. Hence, competitors are expected to focus on pricing strategies that are likely to reduce profit margins.
The global gas equipment market can be segmented by equipment type, gas type, process, application, distribution channel, and geography. Based on equipment type, the global gas equipment market is segmented into gas generating systems, gas delivery systems, cryogenic products, flow devices, gas regulators, purifiers & filters, gas detection systems, and accessories. In terms of gas type, the global gas equipment market is classified into atmospheric gases, hydrogen, acetylene, helium, and others. The others segment covers neon, nitrous oxide krypton, xenon, carbon monoxide and others. Based on process, the global gas equipment market can be classified into generation, storage, detection, and others. On the basis of application, the market is segmented into metal fabrication, oil & gas, chemical, and others. The others segment includes automotive, electronics, food & beverage etc.
On the basis of distribution channel, the gas equipment market is segmented into online and offline stores. As compared to online distribution channel, offline distribution channel dominated the market during the forecast period, due to the rising number of local and international brand retail stores across the world. Additionally, preference for purchase of products through offline channels has resulted in the dominance of the global gas equipment market.
Based on geography, the global gas equipment market has been segmented into Asia Pacific, Europe, North America, South America, and Middle East & Africa. The fast growing economies in the region are expected to ensure that Asia Pacific remains the fastest growing region during the forecast period. Europe and North America are mature markets with a very high penetration rate of gas equipment. Hence, they are expected to have a low growth rate, driven primarily by stringent policies and government regulations associated with worker and workplace safety.
Major players operating in the global gas equipment market are Colfax Corporation, Linde AG, GCE Holding AB, Praxair, Inc., Air Products and Chemicals, Inc., Air Liquide S.A., Allied Healthcare Products Inc, Ohio Medical, Gentec Corp., Amico Corp, Matheson Tri-Gas Inc., Itron, Iwatani Corporation, Welsco, Taiyo Nippon Sanso, Messer Grou and and others gas equipment manufacturer across the world
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