Why will Asia-Pacific Industrial Gases Market Expand in Coming Years?
From $92,392.4 million in 2019, the global industrial gases market revenue is predicted to rise to $154,079.5 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 5.5% from 2020 to 2030. The market is being propelled by the rapid advancements and innovations being made in the healthcare sector, owing to the growing healthcare expenditure, implementation of several government initiatives supporting the use of non-conventional energy sources, and surging adoption of several gases in various applications.
Industrial Gases Market Research Report@ https://www.psmarketresearch.com/market-analysis/industrial-gases-market
Industrial gases are extensively used in the food and beverage, healthcare, electronics, petroleum, heavy metal, and chemical industries. For instance, carbon dioxide (CO2) is heavily used in the food and beverage industry to make decaffeinated coffee and carbonate beer and soft drinks. Likewise, acetylene is extensively used in the heavy metal industry in the oxy-acetylene flame for welding and cutting. Besides these factors, the increasing implementation of supportive government policies for alternate energy sources is also fueling the expansion of the industrial gases market.
The growing concerns being raised over the escalating pollution levels and deterioration of the environment have propelled the adoption of green energy. As per the data released by the World Bank in 2015, the U.K., Japan, India, China, South Africa, and Chile invested 0.8%, 0.8%, 0.5%, 0.9%, 1.4%, and 1.4% of their gross domestic product (GDP), respectively, in renewable energy sources. Solar photovoltaic (PV) cells, which are one of the major sources of green energy, play a major role in the manufacturing of solar PV panels, in which, they are used for producing wafers and mitigating silicon loss during the ingot sawing process.
This way industrial gases assist in mitigating the overall production cost, which consequently makes solar energy more affordable. The hydrogen category, under the type segment, contributed the highest revenue to the industrial gases market in 2019, and it is predicted to retain its market dominance in the coming years as well. This will be because of its extensive use in the chemical industry for producing various products, such as ammonia. It is also heavily used in the oil-refining industry for removing sulfur from fuels.
From $92,392.4 million in 2019, the global industrial gases market revenue is predicted to rise to $154,079.5 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 5.5% from 2020 to 2030. The market is being propelled by the rapid advancements and innovations being made in the healthcare sector, owing to the growing healthcare expenditure, implementation of several government initiatives supporting the use of non-conventional energy sources, and surging adoption of several gases in various applications.
Industrial Gases Market Research Report@ https://www.psmarketresearch.com/market-analysis/industrial-gases-market
Industrial gases are extensively used in the food and beverage, healthcare, electronics, petroleum, heavy metal, and chemical industries. For instance, carbon dioxide (CO2) is heavily used in the food and beverage industry to make decaffeinated coffee and carbonate beer and soft drinks. Likewise, acetylene is extensively used in the heavy metal industry in the oxy-acetylene flame for welding and cutting. Besides these factors, the increasing implementation of supportive government policies for alternate energy sources is also fueling the expansion of the industrial gases market.
The growing concerns being raised over the escalating pollution levels and deterioration of the environment have propelled the adoption of green energy. As per the data released by the World Bank in 2015, the U.K., Japan, India, China, South Africa, and Chile invested 0.8%, 0.8%, 0.5%, 0.9%, 1.4%, and 1.4% of their gross domestic product (GDP), respectively, in renewable energy sources. Solar photovoltaic (PV) cells, which are one of the major sources of green energy, play a major role in the manufacturing of solar PV panels, in which, they are used for producing wafers and mitigating silicon loss during the ingot sawing process.
This way industrial gases assist in mitigating the overall production cost, which consequently makes solar energy more affordable. The hydrogen category, under the type segment, contributed the highest revenue to the industrial gases market in 2019, and it is predicted to retain its market dominance in the coming years as well. This will be because of its extensive use in the chemical industry for producing various products, such as ammonia. It is also heavily used in the oil-refining industry for removing sulfur from fuels.
Why will Asia-Pacific Industrial Gases Market Expand in Coming Years?
From $92,392.4 million in 2019, the global industrial gases market revenue is predicted to rise to $154,079.5 million by 2030. According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 5.5% from 2020 to 2030. The market is being propelled by the rapid advancements and innovations being made in the healthcare sector, owing to the growing healthcare expenditure, implementation of several government initiatives supporting the use of non-conventional energy sources, and surging adoption of several gases in various applications.
Industrial Gases Market Research Report@ https://www.psmarketresearch.com/market-analysis/industrial-gases-market
Industrial gases are extensively used in the food and beverage, healthcare, electronics, petroleum, heavy metal, and chemical industries. For instance, carbon dioxide (CO2) is heavily used in the food and beverage industry to make decaffeinated coffee and carbonate beer and soft drinks. Likewise, acetylene is extensively used in the heavy metal industry in the oxy-acetylene flame for welding and cutting. Besides these factors, the increasing implementation of supportive government policies for alternate energy sources is also fueling the expansion of the industrial gases market.
The growing concerns being raised over the escalating pollution levels and deterioration of the environment have propelled the adoption of green energy. As per the data released by the World Bank in 2015, the U.K., Japan, India, China, South Africa, and Chile invested 0.8%, 0.8%, 0.5%, 0.9%, 1.4%, and 1.4% of their gross domestic product (GDP), respectively, in renewable energy sources. Solar photovoltaic (PV) cells, which are one of the major sources of green energy, play a major role in the manufacturing of solar PV panels, in which, they are used for producing wafers and mitigating silicon loss during the ingot sawing process.
This way industrial gases assist in mitigating the overall production cost, which consequently makes solar energy more affordable. The hydrogen category, under the type segment, contributed the highest revenue to the industrial gases market in 2019, and it is predicted to retain its market dominance in the coming years as well. This will be because of its extensive use in the chemical industry for producing various products, such as ammonia. It is also heavily used in the oil-refining industry for removing sulfur from fuels.
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