Parker Hannifin Corporation (US), Ingersoll Rand (US) are Leading Players in the Industrial Nitrogen Generator Market
The global industrial nitrogen generator market 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 increasing demand for industrial nitrogen generator from the packaged and convenient food sector is driving the market. In addition, increasing demand from end-use industries such as food & beverage, 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 the demand for nitrogen gas used in various industries and growth in urbanization in the emerging economies, such as APAC, Middle East & Africa, and South America, are also driving the market. 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). The industrial nitrogen generator market report analyzes the key growth strategies, such as merger & acquisition, agreement & collaboration, investment & expansion, and new product launch adopted by the leading market players between 2017 and 2021.
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Parker Hannifin Corporation is one of the largest players in the industrial nitrogen generators market, globally. The company serves off-road machinery, transportation, oil and gas, industrial manufacturing equipment, power generation, healthcare and life sciences, electronics and semiconductor, industrial and chemical processing, as well as refrigeration markets. The company has a strong emphasis on R&D. Parker Hannifin Corporation has a diverse portfolio, ranging from innovative products to sustainable solutions. The company is active in various value chains and value creation networks. The company has deliberated a strategy to grow its global distribution network to become a key differentiator among competitors. It is also optimizing its portfolio, which would help to focus on capital allocation toward growth areas. Moreover, the company is focused on WIN Strategy (Engage people, customer experience, profitable growth and financial performance), which provides a competitive advantage to the company. The company plans to increase its geographical foothold by increasing product sales in untapped markets in the industrial nitrogen generator market.
Ingersoll Rand is a leading player in the equipment industry. The company caters to the needs of various industries, such as aerospace; chemicals; plastics & rubbers; electronics & semiconductors; environmental; food & beverage; general manufacturing; government & military; industrial gases; marine; mining & construction; oil & gas; PET bottle blowing; pharma, life science & laboratories; power generation; pulp, paper & printing; hydrogen; and water & wastewater treatment. Ingersoll Rand is a leading provider of industrial nitrogen generators. The company has five key strategies in action (deploy talent, accelerate growth, expand margins, allocate capital effectively, and operate sustainably) to maintain a leadership position. It emphasizes on R&D and innovating newer and better products to maintain its leading position in the industrial nitrogen generator market. Ingersoll Rand is focused on strengthening the balance sheet and supporting the portfolio transformation and inorganic growth strategy through accretive merger & acquisition transactions. The company plans to increase its customer base and serve the existing customer base with a wide range of products.
Related Reports:
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
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