The increasing number of natural gas-fueled vehicles and the tendency of countries with scarce natural resources to mitigate their dependence on fossil fuels have significantly brought the need for gas feed systems into the limelight in front of the world. The market for these systems is set to surge at a sustained CAGR of 5.80% through 2034.
The gas feed system market has seen a series of ups and downs in the past few years. In the wake of the pandemic, when energy demand was low, the market experienced a considerable plunge. As these systems are mainly utilized in industrial settings, their demand received a heavy blow.
The ongoing sustainability trends and the revival of economies have again generated a huge demand for gas feed systems in the industrial landscape. With the automation of production units and the development of the manufacturing sector, the market valuation is slated to reach USD 1,592.2 million by the end of 2034. As of 2024, the market is valued at USD 906.4 million.
| Attributes | Details |
|---|---|
| Market Value for 2024 | USD 906.4 million |
| Projected Market Value for 2034 | USD 1,592.2 million |
| Value-based CAGR of the Market for 2024 to 2034 | 5.80% |
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Gas feed systems can be associated with a plethora of gases, such as carbon dioxide, chlorine, natural gas, etc. Among these, the natural gas segment holds the majority of the 45.70% share in 2024.
| Attributes | Details |
|---|---|
| Gas Type | Natural Gas |
| Market Share (2024) | 45.70% |
Gas feed systems are used in both industrial and residential settings. They are also utilized in agricultural and commercial settings. Based on applications, the industrial segment dominates the market with a share of 31.40% in 2024.
| Attributes | Details |
|---|---|
| Application | Industrial |
| Market Share (2024) | 31.40% |
| Countries | CAGR (2024 to 2034) |
|---|---|
| United States | 4.80% |
| Australia | 6.40% |
| South Korea | 6.40% |
| India | 5.40% |
| Japan | 5.20% |
| Spain | 5.20% |
The market in the United States is growing at a CAGR of 4.80% through 2034.
There are growing concerns about the quality of water in the United States. This has increased the prominence of wastewater treatment plants in the country, which has, in turn, increased the demand for gas feed systems as they play a very crucial role in water treatment processes such as disinfection, pH adjustment, and chemical oxidation.
Besides this, advancements in gas feed system technology have also led to more efficient and reliable systems, positively affecting the adoption in the United States.
Australia is one of the leading markets in the world when it comes to gas feed systems. The market is estimated to grow at a CAGR of 6.40% through 2034.
Australia is blessed with significant natural gas reserves, both conventional and unconventional, particularly in regions like Western Australia and Queensland. The country also exports a substantial amount of liquified natural gas to Asian countries like Thailand, India, Malaysia, etc.
This enormous natural gas sector has automatically generated an excellent demand for efficient and reliable gas feeds in the country to support its LNG liquefaction plants and associated infrastructure.
The market in South Korea is also a lucrative one. It is anticipated to expand at a CAGR of 6.40 through 2034.
South Korea, compared with other Asian countries, has very scarce natural gas reservoirs to support its national demand. This is why it has to depend primarily on exports from neighboring countries, making energy security a priority. Natural gas is considered the number one alternative to fossil fuels, such as coal and oil.
These factors have had a positive impact on the market in South Korea. Besides this, industrial growth in the country has also generated a mammoth demand for these feed systems as they require significant amounts of energy for production.
The market in India is also predicted to flourish in the coming future. It is very likely to progress at a CAGR of 5.40%.
India, as a country, in the last few years, has undergone significant industrial transformation, thanks to the government’s efforts in easing the entry of multinational companies into the country. This rapid development has also led to increased energy demand, particularly in the urban and semi-urban settings, with the presence of industry clusters.
This has significantly benefited the market in India. Apart from this, India also faces significant environmental challenges, and switching from fossil fuels to natural gas requires efficient feed systems.
Japan is also one of the top companies in this market. It is slated to progress at a decent but consistent CAGR of 5.20% through 2034.
The Fukushima nuclear disaster in 2011 has entirely changed Japan’s energy sector. With a limited domestic energy resource, the country relies heavily on imports to meet its domestic energy needs.
The government has been actively diversifying its energy sources in Japan, with natural gas playing a crucial role. This expansion has indeed created a conducive environment for the growth of gas feed sales in the country. Besides this, Japan aims to increase the share of renewable energy in its energy mix, which is also one of the major drivers for market growth in the country.
The market in Spain is also a promising one. It is anticipated to progress at a CAGR of 5.20% through 2034.
Spain has been a leader in renewable energy adoption, especially in wind and solar power. Despite this dominance, the country also faces the problem of scarce fossil fuel and nuclear energy for its grid stability, and it has to depend on natural gas-fired power plants as its backup sources. These technologies generate huge demand for these systems in the country.
The country has also been actively investing in cleaner transportation alternatives to reduce emissions and dependence on imported oil. The growth of the natural gas vehicle market in Spain creates demand for gas refueling infrastructure, including gas feeding systems for compressed natural gas (CNG) stations.
This market is a very competitive one, especially in countries where natural resources are limited, and energy requirements are very high. With the advent of natural gas vehicles and countries seeking ways to lower their dependence on imported oil and gas, the market players in this industry have an excellent opportunity to expand their business.
Ongoing sustainability trends in industries across sectors will also benefit the market. Players in the industry must market their products and offerings in developed and emerging economies to gain more traction.
Recent Developments
Linde plc
Linde is a global industrial gases and engineering company, generating USD 33 billion in 2023 sales. With a mission to enhance productivity sustainably, it offers solutions in clean hydrogen, medical oxygen, and specialty gases. Leveraging over 50 years of hydrogen expertise, Linde drives cleaner energy initiatives worldwide.
Air Products and Chemicals, Inc.
Established in 1940, Air Products and Chemicals, Inc. is a global leader in providing essential industrial gases, equipment, and expertise to diverse sectors like refining, manufacturing, and food and beverage. Renowned for innovation and operational excellence, it specializes in liquefied natural gas technology and sustainable gasification projects.
Air Liquide S.A.
Established in 1902, Air Liquide S.A., a French multinational, supplies industrial gases and services worldwide. Second only to Linde in revenue, it serves diverse sectors like medical, chemical, and electronics across 80+ nations, providing vital gases for manufacturing processes and innovative solutions for industry needs.
Other Prominent Companies
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The market is expected to be worth USD 906.4 million by 2024.
The market is expected to reach USD 1,592.2 million by 2034.
The market is set to develop at a CAGR of 5.8% from 2024 to 2034.
Linde plc, Air Products and Chemicals, Inc., Air Liquide S.A., Praxair, Inc. (now part of Linde plc), Messer Group GmbH, Matheson Tri-Gas, Inc., Taiyo Nippon Sanso Corporation, are some of the major players in the market.
The market valuation in 2023 was USD 856.4 million.
| Market Size (2024E) | USD 74.94 billion |
|---|---|
| Market Valuation (2034F) | USD 158.19 billion |
| Value-based CAGR (2024 to 2034) | 7.80% |
| Market Estimated Size (2023E) | USD 2,571.2 million |
|---|---|
| Projected Market Valuation (2033F) | USD 4,350.5 million |
| Value-based CAGR (2023 to 2033) | 5.4% |
| Estimated Value of Global Market by 2032 | USD 7.47 Billion |
|---|---|
| Documented Market Value of the Market in 2022 | USD 4.8 Billion |
| Estimated CAGR from 2022 to 2032 | 4.1% |
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