Download
1 / 3
30 likes | 30 Views
The global industrial gases market reached USD 93.1 Billion in 2020. It is further projected to reach USD 147.1 Billion by 2027, at a CAGR of 6.5% during the forecast period (2021-2027).
E N D
A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global industrial gases market was worth USD 93.1 billion in 2020 and is further projected to reach USD 147.1 billion by 2027, at a CAGR of 6.5% during the forecast period (2021-2027). The market is driven by factors, such as growing applications in the healthcare sector, expanding food & beverages industry, and growing applications in electronics and semiconductors. The growing application of industrial gases in the healthcare sector is expected to propel the global industrial gases market growth during the forecast period. Industrial gases are increasingly used in the healthcare sector for various purposes. Oxygen is one of the most widely used industrial gas in the healthcare sector. It provides respiratory assistance in the event of breathing difficulties, and oxygen cylinders are used to aid breathing. Medical air is an ultra-pure, sterile, compressed source of air that is used in respiratory therapy and humidity treatments for extremely sensitive respiratory systems. produce 33,000 liters of medical-grade oxygen per day.
Oxygen accounted for the largest share in the global industrial gases market in 2020 The oxygen segment held the largest market share in the global industrial gases market in 2020. Oxygen is used in various industries for various purposes. Fuel enhancers and the medical sector are the two most important applications of oxygen. In the healthcare industry, medical-grade oxygen is in high demand. Patients with respiratory conditions are treated in hospitals with oxygen cylinders. The need for medical-grade oxygen has recently skyrocketed due to increasing COVID-19 cases. Currently, India faces a severe shortage of medical-grade oxygen as plants are unable to meet the sudden surge in demand. Apart from medical applications, oxygen is used to boost the calorific value of fuel. For example, Oxy-fuel cutting is a process used for cutting metals with a very high melting point. Highly pure oxygen (99.5% purity) is often used with other fuel gases like acetylene or propane in the oxy-fuel cutting process, and it can cut metal up to 250mm thickness. Read More:https://www.blueweaveconsulting.com/digital-health-market-trends/report-sample
