2020 - 2023 Global Hydrogen / Oxygen / Nitrogen Market Outlook on Size, Share, Trends, Segmentation Analysis
LONDON, Jan. 23, 2020 /PRNewswire/ -- TheBusinessResearchCompany.com offers 3 latest reports from its research database. These three individual reports are spread across 150+ pages Global Hydrogen Market Report 2020, Global Oxygen Market Report 2020 and Global Nitrogen Market Report 2020.
New Technologies Being Adopted By Companies In The Hydrogen, Oxygen And Nitrogen Market
Hydrogen manufacturing companies have started adopting a technology of manufacturing hydrogen from sewage. Hydrogen gas can be manufactured from sewage sludge for use in the chemicals, fertilizers, transportation and manufacturing industries. In this process, the weight of the sewage sludge is reduced by means of dehydration followed by incineration, melting, composting, and drying. This process can be used to produce hydrogen on a large scale for supply to the manufacturing and transportation industries. Companies such as Fuel Cell Energy and Graforce Hydro are investing in this technology. Los Angeles Fuel Cell Energy Inc. is a hydrogen manufacturer which operates the world's largest "tri-generation plant," that converts sewage into electrical power and renewable hydrogen for transportation fuel.
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Binary Actuation Technology (BAT) In The Oxygen Market
Companies involved in the global oxygen market are developing innovative ways to utilize oxygen in various industries such as medical, chemical etc. The rising need among patients across healthcare services acts as a driving force for the companies to find new innovating ways to improve oxygen delivery. In order to improve the oxygen delivery and to monitor the oxygen dosage to patients in respiratory care facilities, Camcon Medical in 2018 introduced Binary Actuation Technology (BAT). BAT is an innovative solution that aids in providing accurate dosage, and reduces wastage by providing cost-effective solutions to the patients who require oxygen therapy. It is through such innovative methods that entities involved in the oxygen market are able to improve the economic benefit of the products.
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Pressure Swing Adsorption (PSA) Technology In The Nitrogen Market
Industrial gas companies are increasingly using pressure swing adsorption (PSA) technology as a cost-effective and highly efficient method to produce nitrogen. PSA systems operate on the principle of adsorption. They consist of adsorption vessels packed with carbon molecular sieves (CMS) which are capable of adsorbing carbon dioxide and residual moisture. At high pressures, CMS selectively adsorbs oxygen, thus allowing nitrogen to pass through at the desired purity level. Onsite generation of nitrogen using PSA systems is more cost-effective than traditional cryogenic distillation or stored liquid nitrogen. PSAs can economically produce nitrogen at flow rates from less than 5,000 scfh (Standard Cubic Feet Per Hour) to greater than 60,000 scfh, and at purities from 95% to 99.9995%. Mahler AGS, a German manufacturer of on-site gas generation plants, is using PSA systems for low-cost production of nitrogen. Major industrial gas companies such as Linde, Air Products, Air Liquide, and Praxair are using PSA systems to enhance nitrogen production.
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Merger Of The Linde Group And Praxair, Inc.
Two major companies in the hydrogen, oxygen and nitrogen market are The Linde Group and Praxair, Inc. In October 2018, The Linde Group and Praxair, Inc. merged to create a combined entity with a market capitalization of $90 billion. As part of the agreement, Praxair shareholders will receive one share of Linde plc for each Praxair share. Linde AG shareholders will receive 1.54 shares of Linde plc for each Linde AG share tendered. This merger is expected to further consolidate the nitrogen market by creating a global leader in terms of both sales and geographic footprint. Praxair has a strong presence in Eastern Europe and the Middle East, whereas Linde has a strong presence in Europe and Asia. The merged company is expected to be a leader in each of these four regions, thus leaving only three companies to compete in the industrial gas market on a global basis. Linde AG is a Brazil-based producer and supplier of industrial, process and specialty gases. Praxair is a US-based atmospheric, process, and specialty gases, and surface coatings producer.
Hydrogen, Oxygen And Nitrogen Market Forecasts
The global hydrogen market, driven by new developments in healthcare, is expected to grow at a compound annual growth rate (CAGR) of 10% and reach $0.38 billion by 2023. The global oxygen market, driven by increasing prevalence of various diseases related to breathing problems, will grow at 11% CAGR and reach $59.17 billion by 2023. Lastly, the global nitrogen market, driven by the growing food and beverages industry, will reach $38.372 billion by 2023, at an annual growth rate of 10%.
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