Cars powered by hydrogen gas are
being produced by some automobile manufacturers driving demand for this
industrial gas. These cars produce lower emissions than traditional vehicles,
as the only emission from the car is water either in the form of water vapor or
droplets there are no emissions of carbon dioxide, nitrogen or particulates.
Consumers’ preference for alternative fuel vehicles is driving the demand for hydrogen
powered vehicles and hydrogen gas. For example, Toyota launched
hydrogen-electric fuelled Mirai car in October 2015 thereby indicating the
possibilities for increases in hydrogen gas demand through the automobile
industry.
THE BUSINESS RESEARCH COMPANY EXPECTS
THE INDUSTRIAL GAS MARKET TO GROW TO $62
BILLION BY 2021
Asia Pacific was the largest
region in the industrial gas market in 2017, accounting for two-fifth of the
market share
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The Linde Group was the
largest player in the global industrial gas market in 2017 with revenues of $16.5
billion for the financial year 2016. The company’s growth strategy aims at increasing its
production by expanding its production facilities. In 2016, Linde invested more
than $100 million to construct new air separation plant and expand its
production capacities in Claymont, Delaware. In 2017, the company started the
construction of new air separation unit in Tanjung Kidurong, East Malaysia. The
company also invested to expand its current air separation plant in the
Philippines and construct a new nitrogen liquefaction plant in Apalit Pampanga.
Industrial gases are also referred to as bulk gases or commodity gases;
they are produced in relatively large quantities by companies for use in a
variety of industrial manufacturing processes. The industrial gas industry
comprises establishments primarily engaged in manufacturing industrial organic
and inorganic gases in compressed, liquid, and solid forms.
Industrial Gas Global
Market Report 2018 is a detailed report giving a unique insight into this
market. The report is priced at $4000 for an individual user. To use across
your office, the price is $6000 and $8000 if you wish to use across a
multinational company.
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