Rockville, MD , Oct. 21, 2024 (GLOBE NEWSWIRE) -- According to a newly published study by Fact.MR, a market research and competitive intelligence provider, the global Gas Pressure Regulator Market is analyzed to reach a size of US$ 2.84 billion in 2024 and further increase at a CAGR of 3.7% from 2024 to 2034.
The oil and gas industry's ongoing production and exploration efforts are driving the expansion of the gas pressure regulator market growth. Reliable pressure management systems are becoming pivotal as companies in this sector spend more on advanced extraction technology and infrastructure. Gas pressure regulators are crucial to the efficiency of operations because they ensure that gas flow and pressure levels are kept within safe and useful ranges.
This is vital for maintaining stringent safety standards, which decreases the possibility of accidents and assures regulatory compliance, in addition to optimizing production. Consequently, the demand for effective gas pressure regulating systems is rising.
East Asia's growing manufacturing sector and the increasing reliance on natural gas for electricity and heating are contributing to the market expansion in the region. The market in North America is expanding due to increased consumption of natural gas in industrial, commercial, and residential settings. Effective gas distribution systems are becoming more necessary as shale gas output rises.
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Key Takeaways from Market Study:
- The global market for gas pressure regulators is approximated to reach a valuation of US$ 4.09 billion by the end of 2034.
- The East Asia region is analyzed to lead with a 26.9% worldwide market share in 2024.
- The North American market is projected to touch a value of US$ 960.7 million by 2034-end.
- Demand for single-stage gas pressure regulators in Japan is forecasted to increase at 3.9% CAGR between 2024 to 2034.
- China is estimated to hold 47.9% portion of the East Asia market in 2024.
- By gas type, the fuel gases segment is evaluated to expand at a CAGR of 3.8% through 2034.
“Leading gas pressure regulator manufacturing companies are focusing on R&D projects to offer end users high-value solutions that increase their safety and productivity,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Gas Pressure Regulator Market:
Emerson Electric Co.; Rotarex SA; Matheson Tri-Gas, Inc.; Essex Industries, Inc.; Linda plc.; Watts Water Technologies, Inc.; Honeywell International; Itron Inc.; Xylem; Tewelding Engineers; Shenzen Wofly Technology Co., Ltd.; GMR Gas S.R.O.
Single-stage Gas Pressure Regulators Becoming Ideal Choice in Several Settings:
The popularity of single-stage gas pressure regulators is increasing due to their low cost, simplicity of operation, and efficiency. Because these regulators are designed to drop high inlet pressure to lower exit pressure in a single step, they are ideal for applications requiring only slight pressure reductions. Its simple design has fewer components than multi-stage regulators, which lowers manufacturing costs and makes installation and maintenance easier.
For people and businesses searching for dependable and efficient solutions to manage gas pressure in a variety of applications, from industrial operations to residential heating, single-stage gas pressure regulators are a budget-friendly choice. The increasing need for trustworthy, low-maintenance, and effective solutions from customers is driving an expansion in the requirement for single-stage gas pressure regulators across several industries.
Gas Pressure Regulator Industry News:
- GCE Healthcare introduced a new design for their most recent high-pressure gas regulator in June 2021. MediTec is a high-pressure regulator with a distinctive and cutting-edge design that combines extensive manufacturing expertise with professional medical knowledge.
- In March 2021, Colfax Corporation unveiled a new gas regulator solution that was more capable than its previous offers. Once the company makes its debut, its global market share should rise.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the gas pressure regulator market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (single-stage, double-stage), gas capacity (toxic gases, corrosive gases, inert gases, fuel gases, others), and application (oil & gas, medical, automotive, manufacturing, residential & commercial, mining, water treatment), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Segmentation of Gas Pressure Regulator Market Research:
- By Product Type :
- Single-stage
- Double-stage
- By Gas Capacity :
- Toxic Gases
- Corrosive Gases
- Inert Gases
- Fuel Gases
- Others
- By Application :
- Oil & Gas
- Medical
- Automotive
- Manufacturing
- Residential & Commercial
- Mining
- Water Treatment
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