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[English Market Research Report] Global Market for Industrial Nitrogen Generators

[English Market Research Report] Global Market for Industrial Nitrogen Generators

Global Industrial Nitrogen Generator Market - 2022-2029

The increase in the use of nitrogen gas in the food and beverage industry is expanding the share of industrial nitrogen generation systems. Food-grade nitrogen with a purity of 99% is considered particularly useful in the food and beverage sector because it is a colorless, odorless inert gas that does not affect the food or beverages it comes into contact with. This report investigates the global market for industrial nitrogen generation systems, summarizing the market definition and overview, analysis of various factors influencing market growth, regulatory environment, trends and forecasts of market size, breakdown by various segments and key countries, competitive landscape, and profiles of major companies.

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【English Market Research Report】Industrial Nitrogen Generation Equipment Market

【English Market Research Report】Industrial Nitrogen Generation Equipment Market

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According to Stratistics MRC, the global market for industrial nitrogen generators is expected to reach 4.8 billion USD in 2023, growing at a CAGR of 7.3% during the forecast period, and is projected to reach 7.9 billion USD by 2030. Devices that extract nitrogen molecules from compressed air are known as nitrogen generation systems or nitrogen generators. Nitrogen gas generators can provide purity levels of up to 99.999%. One of the most effective ways to supply nitrogen is through nitrogen generation systems that can continuously provide high-purity gas. Nitrogen is a substance that exists in nature and is essential for the growth of plants and animals. In the universe, it is the eighth most abundant element. Due to its inertness, it can be used for filling tires of cars and airplanes, as an alternative to air in situations where oxidation is undesirable, and in the manufacturing of electronic components such as transistors, diodes, and integrated circuits. According to the Congressional Budget Office in the United States, in 2019, the pharmaceutical industry invested 83 billion USD in research and development of new products, and between 2010 and 2019, the total number of newly approved drugs increased by 60% compared to ten years ago, with a peak of 59 new drugs approved in 2018.

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