Indian Liquid Oxygen Market to be supported by High Demand in Medical Sector through 2028
India Liquid
Oxygen market to be driven by rising demand in hospitals along with its further
need in aerospace industries for aircraft launching.
According to TechSci Research report, “Indian Liquid Oxygen Market – By Region, Forecast and Opportunities, 2018-2028”, the Indian Liquid Oxygen Market is anticipated to grow at a significant rate in the forecast period 2024-2028. The increasing adoption of Indian Liquid Oxygen in Steel Plants is augmenting the growth of India Liquid Oxygen market. Steel factories have been able to increase the supply of Liquid Oxygen through a variety of actions, including reductions in the production of Nitrogen and Argon and exclusively manufacturing Liquid Oxygen in most facilities.
Also, the growing occurrences of patients hit by
COVID-19 pandemic and its usage for the treatment
of asthma, cystic fibrosis,
dysphasia, chronic obstructive pulmonary disease, heart failure, lung disease, among
others, are expected to fuel the growth of the market. Growing adoption of collaborations
and partnerships, acquisitions and mergers, and others are anticipated to
influence the market growth further. The Indian government has taken several
measures to increase the production and supply of liquid oxygen in the country.
In addition, another important application of liquid oxygen in India is in the
field of steel production. Liquid oxygen is used as a fuel for blast furnaces
in the steel industry, where it is used to increase the temperature of the
furnace and reduce the amount of fuel required. This has made the steel
production process more energy-efficient and cost-effective. The use of liquid
oxygen in steel production has also reduced the carbon footprint of the
industry thus augmenting the growth of Indian Liquid Oxygen Market.
However, it is a
cryogenic liquid and due to its low temperature and its vapors, it has a major
burn risk to human flesh. When exposed to oxygen, materials that typically burn
in ambient air will burn more aggressively. The difficulty in transportation, high cost,
lack of knowledge, and lack of infrastructure to facilitate the use of Liquid
Oxygen are few factors that may hamper the growth of the market in the forecast
period.
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India Liquid
Oxygen market is segmented into type, end user, region, and company.
Based on type, the market is divided into vertical storage tank vs horizontal
storage tank. The vertical storage tank segment is expected to witness
a rise over the forecast period. This is attributed to the lowered production
cost as it needs less material as compared to horizontal storage.
Based on end
user, the
market is divided into aerospace, submarine, gas industries, medical and others. The medical
segment is anticipated to grow during the forecast period. This is attributed
to the massive usage of liquid medical oxygen for the treatment of asthma, cystic fibrosis,
dysphasia, chronic obstructive pulmonary disease, heart failure and lung
disease.
Major
companies operating in Indian Liquid oxygen market are:
- INOX
Air Products
- Ellenbarrie
Industrial Gases
- India
Glycols Pvt Ltd
- Universal
Boschi
- Delhi
Cryogenic Products Private Limited
- Reliance
Industries Ltd
- Praxair
India Pvt. Ltd
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“Western region is expected to witness a significant
growth in the upcoming years, due to the availability of well-established
health policies, and presence of all kinds of elderly care services, including
institutional services, daycare, vocational rehabilitation services, among
others. The number of older people in the region is increasing at
an unprecedented rate which leads to the huge demand of liquid oxygen in
medical and healthcare sector. In addition, the growing public and government
funding helps in improving care facilities which helps in taking care of Indian
Liquid Oxygen demands, thus, in turn, strengthening the growth of the market,
which is expected to grow through 2028”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“India Liquid Oxygen Market By Type (Vertical Storage
Tank v/s Horizontal Storage Tank), By End User (Aerospace, Submarine, Gas Industries,
Medical, Others), By Region, Competition Forecast &
Opportunities, 2018-2028F” has
evaluated the future growth potential of Indian Liquid Oxygen and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in of Indian Liquid Oxygen market.
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