Los Angeles, January 22, 2020 - QY Research recently published a report titled, “Global Liquid Nitrogen Generators Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application”. In 2018, the global liquid nitrogen generators market size was US$22.39 mn and is expected to reach US$28.92 mn in 2025, rising at CAGR of 3.72% between 2019 and 2025.
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Reduction in Cost and Energy Consumption to Boost Market Exponentially
Liquid nitrogen generators are registering tremendous demand due to their widening applications in various industries. Liquid nitrogen is used in several such as food & beverages, rubber & plastic, chemical, healthcare, oil & gas, mining, metal, automotive, electronics, pharmaceuticals, and construction industries. The nitrogen generators are increasingly being used as they offer reduced downtime, lesser servicing costs, sustainability, less energy consumption, reduction of CO2 footprint and long service life, making it one of the most economical nitrogen supply methods. These factors offers manufacturers profitability, reliability, and sustainability compared to traditional nitrogen generation.
Furthermore, the new rising applications of nitrogen generators as dielectric gas in high-voltage equipment and fire & corrosion control is further encouraging the market to improve its growth rate in the global market.
Medical Segment to Occupy Largest Share in Market
The medical segment is expected to occupy the largest share in the market owing to the increasing demand for liquid nitrogen from pharmaceutical companies for cooling and stabilizing materials. It is also used to reduce the presence of oxygen in situations where combustion is a major concern.
North America to Rise Drastically in Global Market
North America will drastically improve its share in the global liquid nitrogen generators market owing to the presence of the pharmaceuticals and construction industries. The strong food and beverages industry will also back the demand for liquid nitrogen, which plays a vital role in food packaging.
Manufacturers to Focus on Supplying Generators to Laborites across Different Regions
In 2018, Peak Scientific, announced partnership with Ontario-based Molecular Science Corp. (MSC) to supply nitrogen gas generation systems. The company will supply the systems to their first mobile laboratory, which is aims to expand cannabis research and testing. This will enable the laboratory to offer mobile analytical testing services to licensed cannabis producers across Canada. With this partnership, the company is expected to expand its footprints and combat competition.
Other manufacturers covered in the market includes Peak Scientific, Imtek Cryogenics, Ulvac Cryogenics, MMR Technologies, Noblegen, F-DGSi, and others.
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