Laboratory Gas Generators Market

Parker Hannifin Corporation (US) and Peak Scientific Instruments Ltd. (UK) are Leading Players in the Laboratory Gas Generators Market

The laboratory gas generators market is projected to reach USD 508 million by 2024 from USD 279 million in 2019, at a CAGR of 12.7% during the forecast period. Growth in this market is primarily driven by the growing demand for laboratory automation and opportunities in the life science industry. The growing importance of analytical techniques in drug and food approval processes, rising safety concerns related to the use of conventional gas cylinders, the growing demand for hydrogen gas as an alternative to helium, and increasing R&D spending in target industries are driving market growth.

On the other hand, the reluctance to replace conventional gas supply methods with modern laboratory gas generators is a major factor challenging market growth.

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The laboratory gas generators market is a highly diversified and competitive market, with a large number of players, including mid-tier companies and startup firms, competing for market shares. Parker Hannifin Corporation (US), Peak Scientific Instruments Ltd. (UK), Praxair Technology, Inc. (UK), Nel (Norway), F-DGSi (France), VICI DBS (US), LNI Swissgas Srl (Switzerland), LabTech S.r.l. (Italy), Claind S.r.l. (Italy), and ErreDue s.p.a. (Italy) are some of the key players in this market. These players have adopted various growth strategies, such as product launches, expansions, acquisitions, and agreements to further expand their presence in the global market.

Product launches, expansions, and agreements were the key growth strategies adopted by players from 2016 to 2018. Some of the leading players that adopted these strategies are Parker Hannifin Corporation (US), Peak Scientific Instruments Ltd. (UK), Nel (Norway), Praxair Technology, Inc. (UK), and F-DGSi (France).

Parker Hannifin Corporation (US)

Parker Hannifin is one of the leading providers of laboratory gas generators across the globe. The company’s strong position in the market can be attributed to its brand recognition and extensive product offerings. With a wide distribution network across the globe, the company has established itself as one of the leading players in the laboratory gas generators market. Parker focuses on identifying and acquiring organizations that produce strategic value for its key stakeholders. Additionally, regulations pertaining to the safety of the environment are also playing a major role, which may lead to gas cylinders (which have high energy requirements for compression and purification of gas) being replaced by gas generators. Due to this, the company has been providing generators with a low carbon footprint.

Peak Scientific Instruments Ltd. (UK)

Peak Scientific is one of the prominent players in the laboratory gas generators market. The company majorly focuses on organic growth strategies to maintain its foothold in the market. For instance, the company launched a range of gas generators in 2018, such as Solaris XE, Genius XE, Halo Nitrogen Generator, and Precision Series. The company’s ongoing expansion in various geographies has helped it cater to a wide customer base by providing them with direct sales and support services. In this regard, the company expanded its presence in the European and Asian markets. Its high-efficacy gas generators, quality services, and meticulous R&D processes have enabled the company to achieve a leading position in the laboratory gas generators market.

Praxair Technology, Inc. (UK)

Praxair is one of the leading providers of industrial gases. The company competes on the basis of product quality, price, technology, service to customers, delivery, and reliability. Praxair also steered the development of non-cryogenic air separation techniques for producing industrial gases. Moreover, Praxair also takes rigorous efforts to develop new applications with low greenhouse gas (GHG) emission rate. The company is engaged in constantly developing new products and applications to enhance its productivity and maintain its position in the lab gas generators market.

Related Reports:

Laboratory Gas Generators Market by type (Nitrogen, Hydrogen, Zero Air, Purge Gas, ToC), Application (GC, LCMS, Gas Analyzer), Enduser (Pharma, Biotech, CRO, Chemical, Petrochemical, Food & Beverage, R&D, Environmental Companies) - Global Forecast to 2024

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