Laboratory Gas Generators Market: Innovation-driven Growth
The emergence of the life science industry and increasing healthcare facilities have accelerated the adoption of analytical instruments and methods in research activities. This has strengthened innovations related to laboratory gas generators since compressed gases are an essential part of research experiments.
Safety concerns and the need for on-demand supply are further prompting researchers to move away from traditional tanks and adopt laboratory gas generators. Moreover, the spiraling demand for highly pure gases and soaring costs of cylinder gases are encouraging laboratories to embrace this technology. These strides towards 'safety coupled with efficiency' and need for 'application-specific purity level of gases' have significantly expanded the confines of the laboratory gas generators market.
Innovation spawned in the landscape of laboratory gas generators such as enhanced compressor designs and electronic controls has opened the doors for a lucrative future. Gauging the potential of future developments and transition, Transparency Market Research (TMR) conducted an incisive analysis on the laboratory gas generators market. In its latest offering, TMR divulges insights on the evolving trends and the impact of the emergence of new technologies on stakeholders.
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A Glance at the Evolutionary Landscape
The laboratory gas generators market is growing synchronously with numerous industries such as petrochemicals, pharma and biotech, and food and beverages. Expansion and advancements in these industries drive the technological modifications in laboratory gas generators, paving the way for use in complex applications.
The pharmaceutical and biotechnology industries, in particular, act as a harbinger for the growth of the laboratory gas generators landscape with the use of gas generators in the prevention of viral contamination in the packaging of drugs. The pharmaceutical & biotechnology companies segment was valued at ~ US$ 200 Mn in 2018, and is anticipated to reach ~ US$ 330 Mn by 2027.
However, it is pertinent to note that, lack of skilled personnel in the installation, services, and maintenance of gas generators continues to be a long-standing challenge for the laboratory gas generators market. Moreover, the high costs of gas generators due to the premium products used may descend the sales of gas generators. Manufacturers are using this bottleneck well in their favor by developing products with competitive prices to overarch other players in the market.
Key Trends Shaping the Future of the Laboratory Gas Generators Market
High Adoption of New Technologies and Inclination towards 'Ease of Use'
Technological giants in the laboratory gas generators market are using 'ease of use' as the new catchphrase to lure the attention of customers. This is mainly because advances in medical science have shifted consumer preference towards technologies that are not only easy to use but also offer instant results. For instance, the portability of medical gas analyzers and their ability to simultaneously measure multiple gases, allowing easy measurement of gases, makes them one of the most preferred technologies in the medical industry. This trend has laid down the foundation for market growth, as manufacturers are vying towards the development of new technologies such as gas generators with maintenance reminders and automatic leak detection.
Hydrogen Gas Generators are Here to Stay
The high demand for hydrogen gas generators is based on the extensive use of hydrogen gas in laboratory tests. Moreover, helium shortage has created a lucrative market for hydrogen in gas chromatography. As a result, instrument companies are promoting the use of hydrogen carrier gas through presentations and articles. This has highly benefitted the manufacturers of gas generation equipment who are foraying towards increasing the production of hydrogen gas generators.
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Winning Strategies to Sustain Market Headwinds
A key overriding strategy deployed by market players is product promotion through trade shows, exhibitions, product catalogues, and trade fairs. The laboratory gas generators market, being innovation-driven, calls for the need to create a brand identity to gain recognition in the market. Partakers in the market are banking on this opportunity by introducing their products at exhibitions and trade fairs to advertise them to a large audience pool. These product promotion activities also help them understand the current requirements of the market and analyze the new opportunities emerging in the market.
Gauging the high demand for laboratory gas generators across numerous end-use industries, and countries across the globe, companies are foraying towards business expansion. They are doing so through various channels such as mergers and acquisitions, expansion of distribution networks, and product reach expansion. For instance, Parker Hannifin Corp has a distribution network spanning around 13,000 locations across the globe, thereby catering to the individual needs of these regions. On the other hand, Nel ASA focuses on business expansion through mergers and acquisitions, which gives it an opportunity to expand and strengthen its existing product portfolio.
Competition Landscape Remains Fragmented
The laboratory gas generators market features a fragmented vendor landscape due to the presence of large players along with emerging domestic players. The degree of competition in the market is moderate, and is mainly characterized by the emergence of new technologies and incessant pressure to develop products at competitive prices. Although there are several established players associated with the manufacture and supply of laboratory gas generators, there is still scope for the emergence of new players through the development of moderately low-cost technology.
Prominent companies functioning in the laboratory gas generators market include Nel ASA, Angstrom Advanced, Inc., Peak Scientific Instruments Ltd., and Parker Hannifin Corp. Among these, Parker Hannifin accounted for a prominent share of ~ 30% of the laboratory gas generators market in 2018. It was followed by Peak Scientific Instruments Ltd, with a share of ~ 15%. Other companies in the market such as Erre Due s.p.a., F-DGSi, and others held ~ 55% market share in 2018.
The formation of subsidiary companies and acquisition of gas generator companies remains a preferred strategy for key enterprises to reap revenue benefits. The reason for this is attributable to the collective notion of companies to foray into untapped regions through the enhancement of distribution channels. Companies are also thriving in the regional markets on the back of strategic alliances and new business developments. In addition to this, technological advancements and new product launches are relied upon to foster presence in the global market.
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Analysts’ Viewpoint on the Market
Authors of the report on the laboratory gas generators market opine that, the growth of the market is mainly driven by new technologies and innovations. They have a positive outlook of the market’s growth during the forecast period, with laboratories gaining eminence through a surge in research activities. Leveraging the potential in developing regions and development of products at competitive prices will help new entrants establish their base in the market. Companies focusing on product promotion and building a brand image are expected to gain the first-mover advantage. Moreover, business expansion will continue to be the preferred winning imperative for key enterprises.
The high costs of gas generators may pose a threat to the market’s growth. However, this will create several growth opportunities for market players and also increase the competition among market players, which will compel them to offer products at competitive prices. Overall, the deployment of robust marketing strategies and development of new technologies will help players create a strong presence in the market and outshine other players.
Global Laboratory Gas Generators Market Overview
The global laboratory gas generators market was valued at ~ US$ 2.9 Bn in 2018, and is projected to expand at a CAGR of ~ 5.6% from 2019 to 2027. Rise in the adoption of analytical instruments, systems, and methods for various research activities is fueling the global laboratory gas generators market.
- Ease of use and technological advancements, increase in number of healthcare facilities and life science industries across the world, advantages offered by laboratory gas generators over traditional high pressure cylinders, and increase in the number of contractual agreements and acquisitions by manufacturers are key factors that are projected to drive the global laboratory gas generators market during the forecast period.
- The global laboratory gas generators market has been researched upon based on different segments such as product type, application, end user, and region.
- A detailed qualitative analysis of the drivers and restraints of the laboratory gas generators market and opportunities has been provided in the overview section. Additionally, the section comprises a competitive matrix and company profiles along with business overview to understand the competitive landscape in the market. This section of the report also provides market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario in the global laboratory gas generators market.
Market Segmentation: Global Laboratory Gas Generators Market
- The global laboratory gas generators market has been segmented based on product type, application, end user, and region.
- In terms of product type, the global laboratory gas generators market has been classified into hydrogen gas generators, nitrogen gas generators, oxygen gas generators, zero air gas generators, purge gas generators, and others.
- The hydrogen gas generators segment dominated the global laboratory gas generators market in 2018. The segment is expected to maintain its dominance of the market during the forecast period.
- Based on application, the global laboratory gas generators market has been divided into gas chromatography, liquid chromatography-mass spectrometry (LC-MS), gas analyzers, spectroscopy, and others.
- Based on end user, the global laboratory gas generators market has been split into chem/petrochemical companies, pharmaceutical & biotechnology companies, environmental companies, food & beverage companies, and others. The pharmaceutical & biotechnology companies segment dominated the global laboratory gas generators market in 2018, as laboratory gas generators play a vital role in pharmaceutical and biotechnology companies to provide high level of purity for various applications, ranging from manufacturing drugs packaging.
Regional Segmentation: Global Laboratory Gas Generators Market
- In terms of region, the global laboratory gas generators market has been segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
- The region of North America dominated the global laboratory gas generators market in the year 2018, due to the rise in research and development activities among numerous pharmaceutical and other industries in the region.
- The laboratory gas generators market in Asia Pacific is projected to expand at a high CAGR during the forecast period, due to the presence of developing countries, government funding for research, improving healthcare infrastructure, and increase in presence of major global players in the region.
Major Players: Global Laboratory Gas Generators Market
Some of the key players that are operating in the global laboratory gas generators market include
- Parker Hannifin Corp
- Angstrom Advanced, Inc.
- PerkinElemer, Inc.
- Peak Scientific Instruments Ltd.
- Nel ASA
- Erre Due s.p.a.
- Airgas, Inc.
These players are adopting strategies such as new product development, partnerships, and acquisitions to remain competitive and maintain their position in the global laboratory gas generators market.
Transparency Market Research recently published a report on the laboratory gas generators market, which provides readers with a market overview through extensive analysis. The report outlines the key trends and their impact on the business strategies adopted by prominent players in the laboratory gas generators market. Further, it offers actionable insights on the drivers, restraints, new opportunities, and challenges in the laboratory gas generators market for the forecast period of 2019 to 2027.
The information provided in the study on the laboratory gas generators market will help readers identify the key opportunities in regional markets. Moreover, it offers a detailed assessment of the dynamics in the laboratory gas generators market. Insights provided in the laboratory gas generators market report will not only help stakeholders devise robust business strategies but also help them tap into the potential of key revenue pockets.
The report on the laboratory gas generators market also profiles the key players operating in the market, and offers information about the degree of competition between these players. It details how the changes in user perception regarding laboratory gas generators shape the market’s future. Additionally, it sheds light on the growth strategies adopted by prominent enterprises in the laboratory gas generators market in order to sustain their position.
Key Questions Answered in the Laboratory Gas Generators Market Report
The report on the laboratory gas generators market encompasses an elaborate executive summary along with a market snapshot. The study answers salient questions pertaining to the market dynamics and changing trends in the laboratory gas generators market. Some of these questions include:
- Which segment is expected to lead the laboratory gas generators market during the forecast period?
- What strategies are adopted by new entrants in the laboratory gas generators market to enhance their revenue share?
- Which regions will prove to be the most lucrative for the laboratory gas generators market in the foreseeable future?
- How have the new trends shaped up the laboratory gas generators market’s growth?
- What are the major restraints faced by stakeholders in the laboratory gas generators market?
- How much revenue will the laboratory gas generators market generate in the next five years?
Laboratory Gas Generators Market: Research Methodology
Exhaustive primary and secondary research has been conducted to come up with key market figures for the laboratory gas generators market. Data collected through research has been analyzed to identify the market dynamics and trends. The research study analyzes the global laboratory gas generators market in terms of revenue (US$ Mn).
For primary research, analysts conducted interviews with relevant stakeholders to acquire information pertaining to project objectives, project methodology, risks, and challenges. For secondary research on the laboratory gas generators market, analysts relied on reliable sources such as NCBI, PubMed, Centers for Disease Control and Prevention, American Society for Clinical Laboratory Science, WHO, and others. This research helped in validating the information collected through primary research, and aided in understanding the overall structure of the laboratory gas generators market.
Laboratory Gas Generators Market: Taxonomy
The study on the laboratory gas generators market divides it into four broad categories – product type, application, end user, and region. Each segment has been analyzed in detail and key players operating in different regions have been highlighted.
The report on the laboratory gas generators market studies the historical and current trends impacting the growth opportunities in each segment. In addition, it divulges information such as supply chain analysis, y-o-y growth analysis, and value chain analysis.
Hydrogen Gas Generators
Nitrogen Gas Generators
Oxygen Gas Generators
Zero Air Gas Generators
Purge Gas Generators
Liquid Chromatography-Mass Spectrometry (LC-MS)
Pharmaceutical & Biotechnology Companies
Food and Beverage Companies
Middle East & Africa