Industrial Gas Regulator Market: Oil and Gas Sector to Witness High Growth During the Assessment Period 2017-2024, Observes TMR
Industrial Gas Regulator Market was valued at US$ 2,468.4 Mn in 2017 which is slated to reach a valuation of US$ 3,030.5 Mn in 2024, reflecting a CAGR of 2.9% during the assessment period 2017-2024.
(EMAILWIRE.COM, October 04, 2018 ) Industrial gas regulators are control devices that maintain the gas pressure to ensure safe and effective operations in different applications across various industries. Pressure reducing regulators are used for maintaining desired outlet pressure while delivering the necessary gas flow which will satisfy the downstream demand. The growth of the oil and gas sector has positively influenced the energy-dependent industries such as power generation and chemicals, which has led to increased demand for Industrial Gas Regulator Market in North America.
According to the U.S. Energy Information Administration’s (EIA) Annual Energy Outlook 2015, natural gas consumption of the industrial sector will grow at an annual rate of 0.5% through 2020. There is increasing demand for natural gas from residential, commercial, and electric power sectors. Methanol and fertilizer industries, the most gas intensive industrial end-users, are expected to be the primary drivers for growth.
Growing applications of natural-gas-fuel-based equipment boosting the demand for industrial gas regulators in the United States
The use of industrial equipment that uses natural gas as a fuel is expanding rapidly in the United States. Especially, industrial boilers and furnaces have led to growing demand for industrial gas regulators. Boilers that are run on natural gas and furnaces are used in various types of industries, which include food, paper, chemicals, refining, and manufacturing. Gas regulators play an important role in maintaining, monitoring and controlling the flow of gas and pressure in these natural gas fuelled appliances. The food manufacturing sector in the United States possesses over 10,000 industrial boilers.
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Small boilers are used to burn natural gas. On the other hand, the paper industry requires large industrial boilers to burn production waste, pulp and paper. Furthermore, there are 300 chemical plants in the United States that have large boilers. Due to the use of such kind of boilers that use natural gas as a fuel, the demand for industrial gas regulators in the United States has received a huge boost. The impact of this driver on the industrial gas regulator market in the United States is expected to be high during the coming years due to the increasing demand for large and small boilers in industries for manufacturing processes.
Inert industrial gas regulators to dominate the market in the United States
Inert gas regulators are made up of materials that prevent unwanted chemical reactions from taking place. Such kind of regulators are used in various types of industries like chemicals, food and oil & gas. The regulators used to maintain the flow and pressure of toxic gas are considered under the toxic gas regulators segment.
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The application of toxic gas is found across industries including chemicals, petrochemicals, refineries, coal and oil & gas. The regulators that are used in places where there is a need to maintain the flow and pressure for corrosive gases are covered under the corrosive gas regulators segment. Typically, such kind of regulators are made up of stainless steel.
In the United States industrial gas regulator market by gas type, the inert gas segment was valued at US$ 1,477.8 Mn in 2017. This is primarily due to the large application of natural gas across various industrial sectors and increasing adoption of inert gas to avoid unwanted chemical reactions taking place during the manufacturing process. On the other hand, the toxic gas segment was valued at US$ 434.7 Mn in 2017 and the corrosive gas segment was valued at US$ 555.8 Mn in 2017.
According to the U.S. Energy Information Administration’s (EIA) Annual Energy Outlook 2015, natural gas consumption of the industrial sector will grow at an annual rate of 0.5% through 2020. There is increasing demand for natural gas from residential, commercial, and electric power sectors. Methanol and fertilizer industries, the most gas intensive industrial end-users, are expected to be the primary drivers for growth.
Growing applications of natural-gas-fuel-based equipment boosting the demand for industrial gas regulators in the United States
The use of industrial equipment that uses natural gas as a fuel is expanding rapidly in the United States. Especially, industrial boilers and furnaces have led to growing demand for industrial gas regulators. Boilers that are run on natural gas and furnaces are used in various types of industries, which include food, paper, chemicals, refining, and manufacturing. Gas regulators play an important role in maintaining, monitoring and controlling the flow of gas and pressure in these natural gas fuelled appliances. The food manufacturing sector in the United States possesses over 10,000 industrial boilers.
Get PDF Sample of Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18590
Small boilers are used to burn natural gas. On the other hand, the paper industry requires large industrial boilers to burn production waste, pulp and paper. Furthermore, there are 300 chemical plants in the United States that have large boilers. Due to the use of such kind of boilers that use natural gas as a fuel, the demand for industrial gas regulators in the United States has received a huge boost. The impact of this driver on the industrial gas regulator market in the United States is expected to be high during the coming years due to the increasing demand for large and small boilers in industries for manufacturing processes.
Inert industrial gas regulators to dominate the market in the United States
Inert gas regulators are made up of materials that prevent unwanted chemical reactions from taking place. Such kind of regulators are used in various types of industries like chemicals, food and oil & gas. The regulators used to maintain the flow and pressure of toxic gas are considered under the toxic gas regulators segment.
Get TOC@ https://www.transparencymarketresearch.com/report-toc/18590
The application of toxic gas is found across industries including chemicals, petrochemicals, refineries, coal and oil & gas. The regulators that are used in places where there is a need to maintain the flow and pressure for corrosive gases are covered under the corrosive gas regulators segment. Typically, such kind of regulators are made up of stainless steel.
In the United States industrial gas regulator market by gas type, the inert gas segment was valued at US$ 1,477.8 Mn in 2017. This is primarily due to the large application of natural gas across various industrial sectors and increasing adoption of inert gas to avoid unwanted chemical reactions taking place during the manufacturing process. On the other hand, the toxic gas segment was valued at US$ 434.7 Mn in 2017 and the corrosive gas segment was valued at US$ 555.8 Mn in 2017.
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Transparency Market Research
Ganesh Rajput
Tel: 9923093622
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results