Global Nitrous Oxide Market to reach USD 1.5 billion by 2025
Global Nitrous Oxide Market valued approximately USD 780 million in 2016 is anticipated to grow with a healthy growth rate of more than 7.40% over the forecast period 2017-2025. Increasing demand from various industries, especially from the medical sector, is helping the market gain tremendous momentum. In addition, rising prevalence of chronic diseases and growing geriatric population in major countries is further fueling the demand over the forecast period. Nitrous oxide is largely consumed by the medical, automotive, food & beverage, and electronics industries. More than 85.0% of nitrous oxide produced is consumed in the medical sector. It is extensively used as analgesic and anesthetic agent in medical applications. Economies such as the U.S., Germany, France, Japan, China, and India are major destinations for market players owing to presence of a wide patient base suffering from chronic diseases.
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The industry is seeming to be fairly competitive. Some of the leading market players include Oxygen and Argon Works Ltd., Praxair, Inc., The Linde Group, Airgas, Inc., Matheson Tri-Gas Inc. SOL S.p.A, Merck KGaA, Air Liquide S.A., Ellenbarrie Industrial Gases Ltd., Promas Engineers Pvt. Ltd. and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
North America was the leading revenue contributor in the global nitrous oxide market in 2016. The region is poised to offer huge opportunities over the forecast period. Increasing prevalence of chronic diseases such as cancer, type 2 diabetes, stroke, heart disease, obesity, and arthritis is supplementing the growth of the regional Market Europe is also likely to be a prominent destination for global players. Chronic diseases are the major causes of mortality and morbidity in Europe. Majority of aging population suffers from chronic diseases.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
By Application:
Automotive
Medical
Electronics
Food & Beverages
By Regions:
North America
o U.S.
o Canada
Europe
o UK
o Germany
Asia Pacific
o China
o India
o Japan
Latin America
o Brazil
o Mexico
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Nitrous Oxide Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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