Canada Industrial Gases Market to be Led by Nitrogen Segment Through 2028
The increasing demand for industrial gases in the
healthcare industry is likely to boost the Canada industrial gases market over
the next few years.
According to TechSci Research
report, “Canada Industrial Gases Market - By Region, Competition, Forecast, and Opportunities, 2028",
the
Canada industrial gases market is anticipated to increase at an impressive rate
in the forecast period thanks to the increasing demand for industrial gases in the
healthcare industry. Industrial gases are a crucial component in modern
manufacturing and production. These gases are utilized in various applications
across industries such as energy, healthcare, food and beverage, chemicals, and
electronics. They play a significant role in enabling industrial processes,
enhancing product quality, and optimizing efficiency.
The primary industrial gases
produced and consumed in Canada include nitrogen, oxygen, argon, and carbon
dioxide. Nitrogen is the most consumed gas in the country, with applications in
the food industry, pharmaceuticals, and electronics manufacturing. Oxygen is
also widely consumed in various applications such as metal fabrication and
healthcare.
The industrial gases market
in Canada is a significant sector that plays a vital role in the country's
economy. The market is driven by the demand from various industries, including
healthcare, food, and energy. The government's initiatives to promote
sustainable development and reduce greenhouse gas emissions have also
contributed to the growth of the industry. The market is highly competitive,
with multinational corporations dominating the industry, but there is also a
growing presence of smaller, specialized players.
The steel industry is a
significant consumer of industrial gases in Canada, with a demand for oxygen
for use in the steelmaking process. The growth of the steel industry has led to
an increase in demand for industrial gases, driving the growth of the market. industrial
gases market in Canada is driven by several growth drivers, including
increasing demand from the healthcare, food and beverage, energy, electronics,
and steel industries. The government's initiatives promoting sustainable
development, technological advancements, and increasing demand for industrial
gases have also contributed to the growth of the market. The market is expected
to continue experiencing steady growth in the coming years, driven by these
growth drivers.
The industrial gases market
in Canada has witnessed several mergers and acquisitions in the last three
years. In 2020, Air Liquide completed the acquisition of Hydrogenics
Corporation, a Canadian company that specializes in hydrogen production and
fuel cell technologies. Similarly, Air Products completed the acquisition of
five hydrogen plants in Canada from Shell Canada in 2021.
The industrial gases market
in Canada faces several challenges, including increasing competition,
volatility of raw material prices, increasing regulatory compliance costs,
environmental concerns, technological advancements, infrastructure constraints,
and skilled labor shortages. Market players must address these challenges to
remain competitive and achieve sustainable growth in the long term.
Browse over XX market data Figures spread through 70
Pages and an in-depth TOC on the "Canada Industrial Gases Market"
The Canada industrial
gases market is segmented based on product, mode of distribution, and region. Based on product, the market
is divided into oxygen, nitrogen, carbon dioxide, hydrogen, argon, and helium.
The nitrogen segment is expected to hold the largest market share in the forecast
period.
Based on the mode of
distribution, the market is divided into tonnage/gaseous, bulk & cylinder, and
packaged. The increasing demand for industrial gases in the healthcare Industry
is the primary factor behind the segment's growth.
Major companies operating in Canada
Industrial Gases Market are:
- Air Liquide Canada Inc.
- Praxair Canada Inc.
- Linde Canada Limited
- Air Products Canada Ltd.
- Messer Canada Inc.
- Taiyo Nippon Sanso Corporation
- Chart Industries Canada ULC
- Matheson Canada Inc.
- NexAir Canada
- Atlas Welding Supply Co Ltd.
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“The industrial gases market
in Canada has undergone significant developments in the last three years,
including expansion of production capacity, investments in clean energy
technologies, uptake of digital technologies, mergers, and acquisitions, and
focus on sustainability. These developments are expected to continue to drive the
industrial gases market in Canada in the coming years," said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Canada Industrial Gases Market, By Product (Oxygen,
Nitrogen, Carbon Dioxide, Hydrogen, Argon, Helium), By Mode of Distribution
(Tonnage/Gaseous, Bulk & Cylinder, Packaged) By Region, Competition,
Forecast & Opportunities, 2018-2028F” has evaluated the future growth
potential of Canada Industrial Gases market 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 Canada Industrial Gases Market.
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