The industrial gas industry is estimated to rise at a CAGR of 7-8 percent globally until 2022. The tremendous growth in the market for industrial gas is mainly due to the revival of large economies such as the U.S. and China. Additionally, the profit margins have risen due to cheaper energy prices and lower operating costs. Electricity cost accounts for nearly 60 percent of the cost of generation; hence the cost of production varies with the electricity prices. The determinants could vary depending on the price difference of unique parameters in each country. Regions such as North America, North Pacific Rim (China, Japan, etc.), and Western Europe are the biggest consumer regions, contributing to more than 75 percent of the global market.
There are six industrial gas companies that dominate 80 percent of the global market share. The key price drivers for industrial gas industry are gas purity, customization of the product, the volume of purchase, and delivery location. The development performed by the gas supplier will essentially assist companies by tracking the cylinders and access the data from for better stock management and safety. It will ultimately enhance the efficiency of the industrial gas and supply chain. The report also encapsulates innovation in the use of industrial gas by the application of smart cylinders.
Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.
Category Intelligence on Industrial Gas covers the following
The overall growth outlook for the end-user industries in the mid-term future is moderate. Healthcare, electronics, etc., are major growth drivers whereas oil and gas, steel sector tend to be flat