Scienza e Tecnologia
Owing to the Rise in Oxygen Applications Worldwide, the Industrial Oxygen Market to set grow at a phenomenal CAGR of 7.9% over the next decade, Future Market Insights, Inc.
The growth of the water is attributed to the rising water treatment sector. In addition to that, the rising demand for liquid fuel or jet fuel in the aerospace sector also has contributed to growth. Due to the rising investments in healthcare, construction, and aerospace sectors, the demand for industrial oxygen is increasing exponentially around the world. The demand for liquefied oxygen is expected to be the higher among all, accounting for 56.7% of sales in the market in 2021.
Within the historic period ranging from 2016 to 2022, the demand for global industrial oxygen rose at around 7% CAGR. Growth is driven by the expansion of the construction and infrastructure sector has been aiding the growth of the market owing to the growing consumption of metals. As per the estimations, demand for industrial oxygen is expected to remain high in the chemicals industry, owing to the requirement of oxygen as raw material and as an oxidizing agent for the production of several chemicals.
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Key market players operating in the industrial oxygen sector are focusing on expanding production capacities by setting up new production units, especially in emerging economies. Prominent key players are also aiming at strategic mergers and acquisitions to enhance their geographic market presence. Dominant companies in the industry are concentrating on technological advancements in order to boost their production capacity at minimal operating costs.
The United States is expected to dominate the global industrial oxygen market as it accounted for around US$ 4.8 billion market share in 2021 and the global industrial oxygen market grew at a robust rate of 8.9% year on year, bucking initial skepticism about how the market would perform during a global pandemic.
Significant growth in the automotive, aerospace, iron and steel, chemical, metal fabrication, and welding industries and the healthcare sector are anticipated to boost the growth of the industrial oxygen market in Germany . Germany is expected to witness growth at the rate of 7.3% over the forecast period.
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1.1. Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
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