Dublin, Jan. 03, 2024 (GLOBE NEWSWIRE) -- The "Nitrous Oxide Market Size, Share & Trends Analysis Report By Application (Automotive, Medical, Electronics, Food & Beverages, Others), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global nitrous oxide market size is expected to reach USD 2.30 billion by 2030, registering a CAGR of 7.9% from 2023 to 2030
Increasing demand from various industries, especially from the medical sector, is helping the market gain tremendous momentum. In addition, the rising prevalence of chronic diseases and the growing geriatric population in major countries is further fueling the demand over the forecast period.
Nitrous oxide is largely consumed by the medical, automotive, food & beverage, and electronics industries. More than 85.0% of nitrous oxide produced is consumed in the medical sector. It is extensively used as analgesic and anesthetic agent in medical applications. Economies such as the U.S., Germany, France, Japan, China, and India are major destinations for market players owing to the presence of a wide patient base suffering from chronic diseases.
Nitrous oxide is widely used in automotive engines to increase efficiency. It is one of the simplest ways to provide a significant horsepower boost to any gasoline engine. When nitrous oxide is injected into an engine, its molecules break down and release oxygen during combustion to allow the engine to produce more power. The global market is projected to expand significantly in the coming years. In 2016, North America was the largest market for nitrous oxide due to the high prevalence of chronic diseases. Moreover, surging demand from Asia Pacific is anticipated to support the growth of the overall market.
Nitrous Oxide Market Report Highlights
- The medical segment held the largest revenue share of 87.6% in 2022. Nitrous oxide is extensively used in the medical sector as an anesthetic and analgesic agent in surgical and dentistry procedures. It is commonly used as a single agent for partial sedation in dentistry, mostly in pediatric dental applications.
- The automotive segment is expected to grow at a CAGR of 7.3% over the forecast period. In modern automobiles, nitrous oxide is used to significantly boost engine power by increasing the oxygen content of the fuel mixture, thus enabling the engine to burn more fuel.
- Asia Pacific dominated the global market and accounted for the largest revenue share of 35.0% in 2022. The Asia Pacific region includes a wide variety of countries with differing levels of economic development and healthcare infrastructure.
Company Profiles
- Praxair Technology, Inc.
- Chart Industries, Inc.
- Linde plc
- MATHESON TRI-GAS, INC.
- SOL GROUP
- Merck KGaA
- Air Liquide
- Airgas, Inc.
- Ellenbarrie Industrial Gases
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Nitrous Oxide Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market driver analysis
3.5.2. Market restraint analysis
3.5.3. Industry opportunities & challenges
3.6. Nitrous Oxide Market Analysis Tools
3.6.1. Industry analysis - Porter's
3.6.2. PESTEL analysis
Chapter 4. Supplier Portfolio Analysis
4.1. List of Suppliers
4.2. Kraljic Matrix
4.3. Sourcing Best Practices
4.4. Negotiation Strategies
Chapter 5. Nitrous Oxide : Application Estimates & Trend Analysis
5.1. Nitrous Oxide Market: Key Takeaways
5.2. Nitrous Oxide Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Automotive
5.3.1. Automotive market estimates and forecasts, 2018 to 2030 (Kilotons, USD Million)
5.4. Medical
5.5. Electronics
5.6. Food & Beverages
Chapter 6. Nitrous Oxide Market: Regional Estimates & Trend Analysis
6.1. Regional Outlook
6.2. Nitrous Oxide Market by Region: Key Takeaway
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Market Participant Categorization
7.2.1. Company overview
7.2.2. Financial performance
7.2.3. Product benchmarking
7.2.4. Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/r3o2ns
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