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Nitrous Oxide Market to Exhibit A CAGR Of 7.1% By 2025 | Key Players – Praxair Technology, Inc, Oxygen & Argon Works Ltd, The Linde Group, Matheson Tri-Gas Inc, SOL Spa.

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Nitrous Oxide Market to Exhibit A CAGR Of 7.1% By 2025 | Key Players – Praxair Technology, Inc, Oxygen & Argon Works Ltd, The Linde Group, Matheson Tri-Gas Inc, SOL Spa.

January 27
10:16 2020
Nitrous Oxide Market to Exhibit A CAGR Of 7.1% By 2025 | Key Players - Praxair Technology, Inc, Oxygen & Argon Works Ltd, The Linde Group, Matheson Tri-Gas Inc, SOL Spa.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global nitrous oxide market size is expected to reach USD 1.47 billion by 2025, according to a new report by Grand View Research, Inc., posting a CAGR of 7.1% during the forecast period

According to a report, “ Nitrous Oxide Market Size, Share & Trends Analysis Report By Application (Automotive, Medical, Electronics, Food & Beverages), By Region (North America, APAC), Competitive Landscape, And Segment Forecasts, 2018 – 2025 ”, published by Grand View Research, Inc.,The global nitrous oxide market size is expected to reach USD 1.47 billion by 2025, according to a new report by Grand View Research, Inc., posting a CAGR of 7.1% during the forecast period. 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.

Key players including Praxair Technology, Inc., Oxygen & Argon Works Ltd., The Linde Group, Matheson Tri-Gas, Inc., SOL Spa, Merck KGaA, Air Liquide, Airgas, Inc., and Ellenbarrie Industrial Gases Ltd. are engaged in the production of nitrous oxide in the global market.

Nitrous oxide is widely used in automotive engines to increase the efficiency. It is one of the simplest ways to provide a significant horsepower boost to any gasoline engine. When nitrous oxide is injected into an engine, its molecules break down and release oxygen during combustion to allow the engine to produce more power.

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The global market is projected to expand significantly in the coming years. In 2016, North America was the largest market for nitrous oxide due to high prevalence of chronic diseases. Moreover, surging demand from Asia Pacific is anticipated to support the growth of the overall market.

U.S. nitrous oxide market

Further key findings from the report suggest:

  • Global nitrous oxide demand was valued at USD 805.1 million in 2016 and is estimated to register a CAGR of 7.1% during the forecast period

  • Medical was the largest application segment in 2016 and is likely to register a CAGR of 7.2% between 2017 and 2025

  • Electronics segment accounted for 1.32% of the overall revenue in 2016 and is anticipated to witness moderate growth over the coming years

  • Asia Pacific market is projected to experience significant growth over the forecast period owing to rising prevalence of chronic diseases in countries such as China, India, and Japan

Regional Insights

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. It is used as a carrier gas for producing powerful general anesthesia. Airgas, a key manufacturer and supplier, has a strong reach in North America with production facilities in Pensacola and Maitland in Florida, Ontario, Canada, and Mississippi.

Global nitrous oxide 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. In recent times, with increase in income and sedentary lifestyles, young and middle-aged are also being diagnosed chronic diseases. These factors are projected to bolster the demand for nitrous oxide in the region.

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Grand View Research has segmented the global nitrous oxide market on the basis of application and region:

Nitrous Oxide Application Outlook (Revenue, USD Million, 2014 – 2025)

  • Automotive

  • Medical

  • Electronics

  • Food & Beverages

  • Others

Nitrous Oxide Regional Outlook (Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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