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The Growth of the Industrial Gas Handling Equipment Market was Largely Influenced by new Product Launches and Acquisitions in the past five years
MarketsandMarkets projects the global industrial gas handling equipment market to grow from USD 51.93 Billion in 2016 to USD 72.22 Billion by 2021, at a CAGR of 6.82% from 2016 to 2021. As the application of industrial gas handling equipment in metal fabrication, chemical, and healthcare & medical industries is growing day by day, the market for industrial gas handling equipment is also growing. Industrial gas handling equipment is used in processes such as industrial gas generation, storage, gas detection, and transportation of industrial gases. Strict regulations by the government have also impacted the growth of the industrial gas handling equipment market.
The key players in the industrial gas handling equipment market are Linde AG (Germany), Air Liquide S.A (France), Praxair Inc. (U.S.), Air Products And Chemicals, Inc. (U.S.), and Iwatani Corporation (Japan). The other players in this market are Colfax Corporation (U.S.), Itron, Inc. (U.S.), Messer Group GmbH (Germany), Matheson Tri-Gas, Inc. (U.S.), and GCE Holding AB (Sweden). These players have adopted various strategies to expand their global presence and increase their market share. New product launches, acquisitions, partnerships, agreements, contracts, and expansions are some of the major strategies adopted by the market players to achieve growth in the industrial gas handling equipment market.
The growth of the industrial gas handling equipment market was largely influenced by new product launches and acquisitions in the past five years. In November 2015, Air Liquide S.A. announced the acquisition of Airgas Inc. (U.S.), a leading supplier of industrial gases, industrial gas handling equipment, and related products. Under the terms of this transaction, Air Liquide will pay a total enterprise value of USD 13.4 billion to Airgas Inc., in cash. After this transaction, Airgas Inc. will become a wholly-owned subsidiary of Air Liquide. The acquisition is aligned with Air Liquide’s strategy to become the market leader in North America, complementing its leading market position in Europe, Asia-Pacific, and the Middle East. In the same year, the company acquired Messer Aligaz Sanayi Gazlari (Turkey) which is a subsidiary of Messer Group (Germany). This acquisition strengthened the company’s hold on the Turkish market by enhancing its presence in the industrial market segment. In 2012, the company launched silicon-passivated SCOTT brand regulators. These are ultra-compact single- and two-stage regulators with a set of new industry standards and are used for reactive or corrosive gas mixtures.
In 2014, Praxair, Inc. (U.S.) launched Grab 'n Go Digital Advanced Oxygen System which has a built-in regulator, flow-control valve, and contents gauge which allow to easily adjust the oxygen flow. In 2013, Praxair Offshore Services Limited (U.S.), a subsidiary of Praxair, acquired Dominion Technology Gases Investment Limited (Scotland), a leading supplier of diving, industrial, welding, calibration, and laboratory gases and related equipment to the offshore oil and gas industry. This acquisition expanded Praxair’s oil and gas-related capabilities in the offshore energy segment.
Gas Equipment Market by Industrial Gas (Atmospheric, Hydrogen, Acetylene, Helium), Type (Gas delivery, Regulators, Purifiers & filters, Flow devices, Gas generation, Cryogenics, Gas detection), Process (Generation, Storage, Detection, Transportation) - Forecast to 2021
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