Latest Study on “Laboratory Gas Generators Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.
The global Laboratory Gas Generators market size is expected to be worth around US$ 690 Million by 2027, according to a new report by nova one advisor.
The global Laboratory Gas Generators market size was valued at US$ 352 Million in 2020 and is anticipated to grow at a CAGR of 16.4% during forecast period 2021 to 2027.
Overview of Laboratory Gas Generators Market Study
Laboratory Gas Generators market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.
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The growth of the laboratory gas generators market is primarily driven by the growing importance of analytical techniques in drug and food approval processes, rising food safety concerns, increasing adoption of laboratory gas generators owing to their various advantages over conventional gas cylinders, growing demand for hydrogen gas as an alternative to helium, and the increasing R&D spending in target industries. On the other hand, reluctance shown by lab users in terms of replacing conventional gas supply methods with modern laboratory gas generators and the availability of refurbished products are the major factors expected to hamper the growth of this market.
Global Laboratory gas generators Market Dynamics
DRIVER: Increasing R&D spending in target industries
With a growing focus on developing and delivering effective solutions, there has been a significant increase in the overall R&D activities in industries such as life sciences, chemical and petrochemical, and food and beverages. In 2019, Pharmaceutical Research and Manufacturers of America (PhRMA) members invested USD 83 billion in R&D, establishing the biopharmaceutical industry as the most R&D-intensive sector in the US. Similarly, the European Commission’s new framework, Horizon 2020, proposed a budget allocation of USD 110.99 billion (EUR 100 billion) for research activities for the period of 2021 to 2027 (Source: European Commission).
OPPORTUNITY: Opportunities in the life sciences industry
The demand for the analytical testing of cannabis for ensuring its safety before human consumption has increased in recent years, as medical cannabis is being legalized in a number of countries/states across the globe. Medical cannabis has proven effective in various medical applications, such as reducing nausea caused due to chemotherapy, stimulating appetite in AIDS patients, controlling muscular spasms in multiple sclerosis patients, and reducing intraocular pressure in patients with glaucoma. Owing to their health benefits, governments in various countries are legalizing the use of medical cannabis. Australia (2016), Canada (2015), South Korea (2018), Portugal (2001), the UK (2006), Germany (2017), Italy (2013), the Netherlands (2003), and Brazil (2017) have all legalized the use of medical cannabis in recent years.
CHALLENGE: Availability of refurbished products
The availability of refurbished laboratory gas generators is a major challenge to the growth of this market. KRSS Ltd. (US), SpectraLab Scientific Inc. (Canada), McKinley Scientific (US), and GenTech Scientific LLC (US) are some of the companies offering refurbished laboratory gas generators such as hydrogen gas generators, nitrogen gas generators, and zero air generators. Many end users, mainly small and medium-sized laboratories, look for cost-effectiveness and opt for refurbished systems, particularly in price-sensitive markets in developing countries.
The hydrogen gas generators segment accounted for the highest growth rate in the Labortaory gas generators market, by type, during the forecast period
Based on type, the laboratory gas generators market is segmented into nitrogen gas generators, hydrogen gas generators, zero air generators, purge gas generators, TOC gas generators, and other gas generators. The hydrogen gas generators segment accounted for the highest growth rate in the Labortaory gas generators market in 2020. This can be attributed to the growing preference for hydrogen as a cost-effective alternative to helium, as it offers faster analysis and optimal results.
Gas chromatography segment accounted for the highest CAGR
Based on application, the laboratory gas generators market is segmented into gas chromatography (GC), liquid chromatography-mass spectrometry (LC-MS), gas analyzers, and other applications. In 2020, gas chromatography accounted for accounted for the highest growth rate. The major factors driving the growth of this is the adoption of hydrogen over helium due to the latter’s high cost and scarcity in gas chromatography.
Life science industry accounted for the largest share of the laboratory gas generators market in 2020
Based on end user, the laboratory gas generators market is segmented into the life science industry, chemical and petrochemical industry, food and beverage industry, and other end users (environmental companies and research & academic institutes). The life science industry accounted for the largest share of the global laboratory gas generators market. The major factors driving the growth of this segment are the rising demand for laboratory analytical instruments, increase in drug research activities, and stringent regulations relating to the drug discovery process.
North America accounted for the largest share of the laboratory gas generators market in 2020
The laboratory gas generators market is divided into five regions, namely, North America, Europe, Asia Pacific, and Rest of the World. North America dominated the global laboratory gas generators market. The large share of the North American region is mainly attributed to the high investments in R&D in the US and Canada, which has led to a higher demand for efficient and advanced laboratory equipment.
Some of the major players operating in this market are Parker Hannifin Corporation (US), PeakGas (UK), and Linde plc (Ireland). In 2019, Parker Hannifin Corporation held the leading position in the laboratory gas generators market. The company has installed over 40,000 units of laboratory gas generators globally. The company offers a wide range of products in the laboratory gas generators market. The company’s gas generators produce gas purity levels that are the highest in the industry.PeakGas held the second position in the laboratory gas generators market in 2019.
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COVID-19 Impact on Laboratory Gas Generators Sales
Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Laboratory Gas Generators market.
Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.
Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.
Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Laboratory Gas Generators market 2021 onwards. This trend will however continue through the course of the report’s assessment period
This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Laboratory Gas Generators market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the Laboratory Gas Generators market include:
Parker Hannifin Corporation (US), PeakGas (UK), Linde plc (Ireland), Nel ASA (Norway), PerkinElmer Inc. (US), VICI DBS (US), Angstrom Advanced Inc. (US), Dürr Group (Germany), ErreDue spa (Italy), F-DGSi (France), LabTech S.r.l. (Italy), CLAIND S.r.l. (Italy), On Site Gas Systems, Inc. (US), WIRAC Automation Ltd. (UK), Isolcell S.p.A.(Italy), PCI Analytics Private Limited (India), INMATEC GaseTechnologie GmbH & Co. KG (Germany), Oxymat A/S (Denmark), Nitrogenium Innovations & Filteration India Pvt. Ltd. (India), Analab Scientific Instruments Private Limited (India), LNI Swissgas Srl (Italy), Asynt Ltd. (UK), Apex Gasgen (Scotland), Leman Instruments (France), and Laboratory Gas Africa (South Africa).
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
- Nitrogen Gas Generators
- Hydrogen Gas Generators
- Zero Air Generators
- Purge Gas Generators
- TOC Gas Generators
- Other Gas Generators
- Gas Chromatography
- Liquid Chromatography-Mass Spectrometry
- Gas Analyzers
- Other Applications
By End User
- Life Science Industry
- Chemical & Petrochemical Industry
- Food & Beverage Industry
- Other End Users
Why Buy this Report?
The purpose of Nova one advisor’s Laboratory Gas Generators market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
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