Dublin, Jan. 14, 2021 (GLOBE NEWSWIRE) -- The "Nitrogen Purge Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Nitrogen Purge Systems Market to Reach US$355.3 Million by the Year 2027
Amid the COVID-19 crisis, the global market for Nitrogen Purge Systems estimated at US$285.1 Million in the year 2020, is projected to reach a revised size of US$355.3 Million by 2027, growing at a CAGR of 3.2% over the analysis period 2020-2027.
Dilution Nitrogen Purging, one of the segments analyzed in the report, is projected to grow at a 3.1% CAGR to reach US$180 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Displacement Nitrogen Purging segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 35.1% share of the global Nitrogen Purge Systems market.
The U.S. Accounts for Over 28.9% of Global Market Size in 2020, While China is Forecast to Grow at a 5.2% CAGR for the Period of 2020-2027
The Nitrogen Purge Systems market in the U. S. is estimated at US$82.4 Million in the year 2020. The country currently accounts for a 28.89% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$59.5 Million in the year 2027 trailing a CAGR of 5.2% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR while Rest of European market (as defined in the study) will reach US$59.5 Million by the year 2027.
Other Types Segment Corners a 13.9% Share in 2020
In the global Other Types segment, USA, Canada, Japan, China and Europe will drive the 2.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$30 Million in the year 2020 will reach a projected size of US$35.2 Million by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$46.4 Million by the year 2027, while Latin America will expand at a 2.6% CAGR through the analysis period.
The report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
Air Products and Chemicals, Inc.
Aquila Engineers Pvt. Ltd.
Epoxy Oilserv Limited
Expo Technologies Ltd.
GTS Maintenance Ltd.
IKM Testing (UK) Limited
Liquid Packaging Solutions, Inc.
Praxair Technology, Inc.
Vadilal Chemicals Ltd.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
Global Competitor Market Shares
Nitrogen Purge Systems Competitor Market Share Scenario Worldwide (in %): 2018E
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
Market Facts & Figures
US Nitrogen Purge Systems Market Share (in %) by Company: 2018 & 2027
Market Facts & Figures
European Nitrogen Purge Systems Market: Competitor Market Share Scenario (in %) for 2018 & 2027
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
Total Companies Profiled: 31
For more information about this report visit https://www.researchandmarkets.com/r/j2odnr
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