As per Future Market Insights, the gas holders market is anticipated to attain a value pool of US$ 65 million by 2023-end. Global demand for gas holders is expected to rise at a CAGR of 4.4% to US$ 100 million in 2033.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 65 million |
| Projected Market Value in 2033 | US$ 100 million |
| Growth Rate (2023 to 2033) | 4.4% CAGR |
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According to the latest research estimates, the Gas Holders market is projected to experience incremental growth in the coming decade. The gas Holders Market is projected to rise with a growth rate of 3%-4% during the period of 2021 to 2031. Demand for Gas Holders will witness continued traction in emerging markets for the assessment period.
The augmentation of natural gas production and storage facilities is a key factor behind the market growth. Raw material pricing i.e. Steel and Polymers will have a determining effect on product fabrication and end-user sales quotes.
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Gas holders is a pivotal component for the storage and transportation of the natural gas based in production and storage facilities. As per global Energy Council & Production Data Statistics, the production rate of natural gas in the globe has been increasing at a steady rate with annual average rate of 4% recorded in the historical 5 years, where in few regional hubs a robust increase upto 10% percent has been witnessed.
With demand from onshore and offshore storage facilities a durable storage system is required to store & transport the gas, which has been instrumental in the market growth.
Demand from industrial gas manufacturing units, cryogenics and air separation plants is also expected to escalate the installation rate of gas holders in proportion to new facility expansion and investment rates in the respective end use verticals.
Provision of standard storage capacities as well as customized configurations are being provided by the manufacturers. It is very essential that storage system should be hard enough to resist every kind of leakage & therefore efforts are being made by manufacturers by trying various kin of materials in manufacturing of gas holders to get the desired results.
To cater this criteria, emphasis on highly durable & cost effective solution for end users has been pursued by the OEMs.
The CNG based power generation is growing traction in developing countries of Asia and Latin America with raising investments and capital equipment. This in turn is expected to call for installation of gas holders to a sound extent.
Additionally, petrochemicals and cryogenics industries are also expected to imbibe gas holder installations to a rich extent. With the extensive product shelf life, the replacement rate is expected to be on lower rate where repair and maintenance of the body will be chiefly observed in the subsequent years. Ancillary services such as coating, corrosion protection and linings will provide opportunities in revenue earning for the participants involved in the value chain.
North America is expected to hold a considerable market share over the forecast period With the USA already leading the global natural gas production index in the globe and Canada emerging as the next growth market, the region is expected to sustain its dominance for the gas holder’s sales share in the globe.
Also, several initiatives taken by the governments and agencies of several countries for building natural gas production plants enhance the demand growth for the market in the region.
East Asia and the Pacific are expected to have a robust growing market due to the development of the power generation sector in various countries such as China, and Australia. The growth is expected primarily due to the combination of multiple factors including rising production of natural gas, power generation capacity expansions, petrochemicals, and industrial gases market growth.
Some of the leading manufacturers and suppliers of Gas Holders are
Leading manufacturers are focused on expansion sales and distribution network in emerging markets across the globe. Direct supply chain route is being employed by OEMs with the end users. Attributing to the presence of number of upper and lower tier players, the Gas Holders market is touted to be fiercely competitive.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Gas Holders Market
