Major Growth Boosting Factors:

The Growth in Laboratory Gas Generators Market is mainly driven by the growing importance of analytical techniques in drug and food approval processes, increasing R&D spending in target industries, rising safety concerns related to the use of conventional gas cylinders, and the growing demand for hydrogen gas as an alternative to helium. The rising demand for laboratory automation and opportunities in the life science industry will also have a positive impact on market growth in the coming years. On the other hand, the reluctance to replace conventional gas supply methods with modern laboratory gas generators is a major factor challenging market growth.

Revenue Growth Opportunities: The Laboratory Gas Generators Market is projected to reach USD 508 million by 2024 from USD 279 million in 2019, at a CAGR of 12.7% during the forecast period.

Recent Developments:

In May 2017, Peak Scientific announced the expansion of its regional office in Brazil.
In November 2018, Praxair (US) signed an agreement with Phillips 66 (US) to supply high-purity hydrogen for Phillips’ 66 Sweeny Refinery.
In February 2017, NEL (Norway) acquired Proton Energy Systems Inc. (Proton Onsite) (US) to become the world’s largest supplier of products based on the Proton Exchange Membrane (PEM) technology.
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On the basis of type;

The Lab Gas Generators Market Segmented into nitrogen gas generators, hydrogen gas generators, zero air generators, purge gas generators, and others (oxygen gas generators, calibration gas generators, and dry air generators). The nitrogen gas generators segment accounted for the largest Laboratory Gas Generators Market share in 2019. The large share of this segment can be attributed to their advantages, including better efficiency, improved safety, and expandable and scalable nitrogen generation capacity. These generators are also cost-effective, and their compact design helps free up working space. Owing to these advantages, the demand for nitrogen gas generators is increasing among end users. Nitrogen gas generators are widely used in LC-MS applications.

On the basis of application;

Segmented into gas chromatography (GC), liquid chromatography-mass spectrometry (LC-MS), gas analyzers, and other applications [light scattering detectors, evaporators, microwave plasma-atomic emission spectrometers, and sample preparation instruments]. The GC segment is expected to grow at the highest CAGR during the forecast period, mainly due to its advantages such as convenience, safety, extended downtime, optimal analysis, and elimination of hazardous gas cylinders.

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Geographical Scenario:

North America accounted for the largest market share, followed by Europe. The large share of this market can primarily be attributed to the strong economies in the US and Canada, which has led to a higher demand for efficient and advanced laboratory equipment. Growth in the North American market is supported by the importance of lab automation, government funding for R&D, and stringent requirements for high-purity gases. Moreover, the rising funding for environmental testing and the growth of the food testing industry are responsible for the growth of this segment.

Global Leaders:

The lab gas generators market is a highly diversified and competitive market, with a large number of players, including mid-tier companies and startup firms, competing for market shares. The prominent players in the global market include Parker Hannifin Corporation (US), Peak Scientific Instruments Ltd. (UK), Praxair Technology, Inc. (UK), Nel (Norway), F-DGSi (France), VICI DBS (US), LNI Swissgas Srl (Switzerland), LabTech S.r.l. (Italy), Claind S.r.l. (Italy), and ErreDue s.p.a. (Italy).

Peak Scientific Instruments Ltd. (UK): Peak Scientific is one of the prominent players in the market. The leading position of the company can be attributed to its strong brand recognition and extensive product portfolio in this market. Peak Scientific has two decades of experience in manufacturing laboratory gas generators, which gives it an edge over other players in this market.

The company majorly focuses on organic growth strategies to maintain its foothold in the market. For instance, the company launched a range of gas generators in 2018, such as Solaris XE, Genius XE, Halo Nitrogen Generator, and Precision Series. To widen its geographic presence and meet the growing customer demand, the company expanded its presence in the European and Asian Laboratory Gas Generators Market.