The report "Industrial Nitrogen Generator Market by Technology Type (PSA, Membrane-based, Cryogenic based), Size and Design, End-use Industry (F&B, Medical & Pharmaceutical, Transportation, C&P, E&E, Manufacturing) and Region - Global Forecast till 2026", size is projected to reach USD 5.5 billion by 2026 from USD 4.2 billion in 2021, at a CAGR of 5.4% during the forecast period. The growing demand for industrial nitrogen generator from the processed food sector is driving the market. In addition, increasing demand from end-use industries such as transportation, medical & pharmaceutical, chemical, and manufacturing as well as increasing demand due to growing consumer electronics sector is also driving the industrial nitrogen generator market. Growth in urbanization in the emerging economies, such as APAC, Middle East & Africa, and South America are also driving the market.
APAC is the fastest-growing market for industrial nitrogen generators. This is mainly credited to emerging economies, such as India, China, Indonesia, Malaysia, Singapore, Vietnam, and Thailand, in the region, where consumption for packaged and convenient food products are growing annually. Additionally, increase in population and growing urbanization rate are also driving the market for quality processed food products and boosting industrial nitrogen generator consumption. In addition, progress in industrialization, increasing demand due to changing demographics, such as improving living standards, rising disposable incomes, and government initiatives to attract business investments in industries such as automotive, marine, petrochemical, electronics, oil & gas, and chemical are also driving the market for industrial nitrogen generators in the region.
The key players in the industrial nitrogen generator market include Parker Hannifin Corporation (US), Ingersoll Rand (US), Air Products and Chemicals, Inc. (US), Atlas Copco (Sweden), Air Liquide (France), Hitachi Industrial Equipment System Company (Japan), Inmatec (Germany), Linde Plc (UK), Novair SAS (France), and Oxymat A/S (Denmark). These players have established a strong foothold in the market by adopting strategies, such as new product launches, investment & expansion, agreement & collaboration, and mergers & acquisitions.
