India Pressure Swing Adsorption (PSA) Nitrogen Generator Market Outlook Report 2022: Focus on Automobiles, Chemical Processing, Food and Beverages, Mining and Mineral, Pharmaceuticals, & Oil and Gas
DUBLIN, Aug. 5, 2022 /PRNewswire/ -- The "India Pressure Swing Adsorption (PSA) Nitrogen Generator Market Outlook (2021-2027): Market Forecast By Industrial and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
India Pressure Swing Adsorption (PSA) Nitrogen Generator Market revenue size is projected to grow at a CAGR of 6.4% during 2021-2027.
Nitrogen generator market witnessed significant growth in 2020 on the back of growth of mining sector such as steel, iron, and cement and growing investment in infrastructure along with favorable national policies by government of India such as Aatmanirbhar Bharat, Skill India, Make in India, National Manufacturing Policy for various industries would be the key market driver for Pressure Swing Adsorption (PSA) Nitrogen generator market of India. In addition to that, rising demand for package food along with rise in demand for pharmaceuticals would encourage the requirement of Pressure Swing Adsorption (PSA) nitrogen generators in coming years.
Furthermore, on account of COVID 19 pandemic in 2020, resulted in turmoil Pressure Swing Adsorption (PSA) nitrogen generator growth due to the disrupted supply chain owing to lockdown measures adopted to curb the spread of the virus, which in turn led to a downfall in revenues during a pandemic.
Although, with the gradual upliftment of lockdown restrictions, sales of Pressure Swing Adsorption (PSA) nitrogen generators began to get back on track as operations in industries and construction resumed, which led India Pressure Swing Adsorption (PSA) nitrogen generator market back to its growth trajectory.
The demand for Pressure Swing Adsorption (PSA) nitrogen generator increased owing to the growth of mining and manufacturing sectors in the country during 2017 to 2019. In ddition, growth of pharmaceutical industry on account of COVID 19 pandemic proliferated demand for Pressure Swing Adsorption (PSA) nitrogen generators in during 2020 to 2021 and same trend is expected to follow in the coming years.
Additionally, demand from the industrial end users is expected to increase during forecast period due to rise in production capacity of various industries such as oil and gas, iron and steel, chemical processing, food and beverages, and automotive, among others in the country
Market by End User Analysis
In terms of end users, mining and minerals segment has captured 20.9% of the market revenues in 2020. Mining and mineral, food and beverages, and pharmaceuticals accounted for major share in 2020 due to the rise in steel and iron production, infrastructure development, and increased demand for package food and pharmaceuticals in the country.
Key Highlights of the Report
Key Attractiveness of the Report
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
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SOURCE Research and Markets