Westford USA, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The major factor driving the global nitrous oxide market expansion is expected to be increasing demand from various sectors including automotive, electronics, medical, food and beverage industries. The environmental impact of nitrous oxide uses in medical applications around it is not to be ignored. Only 1% of nitrogen oxide produced in the atmosphere is used for medical purposes, but it is responsible for 5% of all greenhouse gas emissions. Medical nitrous oxide accounts for 0.05% of the emissions that affect the environment worldwide.
Browse in-depth TOC of "Nitrous Oxide Market”
● Pages - 251
● Tables – 38
● Figures – 74
However, stringent laws and regulations regarding ownership, transportation and operation pose a challenge to the growth of the global nitrous oxide market. The Food and Drug Administration regulates the use of medical gases and related equipment. This guideline describes practices and procedures for administering concentrated medications, including home respiratory care. Manufacturers are required to comply with laws and regulations governing the manufacture and sale of medical gases.
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Prominent Players of Global Nitrous Oxide Market
- Matheson Tri-Gas, Inc.
- Messer Group GmbH
- SOL Spa
- Taiyo Nippon Sanso Corporation
- Iceblick Ltd
- Ellenbarrie Industrial Gases Ltd.
- AK Scientific, Inc.
- Promas Engineers Pvt. Ltd.
- Gujarat Fluorochemicals Limited
- Universal Industrial Gases, Inc.
- Sinopec Group
- Emirates Industrial Gases Co. LLC
- Nippon Steel Engineering Co., Ltd.
- Shaanxi Aerospace Power Hi-tech Co., Ltd.
- Airgas, Inc.
- NORCO, Inc.
Medical Segment to Dominate Market Owing to Rise in Aging Population
The medical sector recorded the largest revenue share of 87.6% by 2022 in the global nitrous oxide market. Nitrous oxide is widely used in medicine as an anesthetic and analgesic in surgery and dentistry in dentistry it is commonly used as a semi-sedative in pediatric dentistry. Growing aging population and increasing dental problems across the globe are expected to contribute to the growth of the segment.
North America is expected to hold the largest share of the global nitrous oxide market. The region is positioned to generate significant potential over the forecast period. A factor contributing to the expansion of the regional market is the increasing prevalence of chronic diseases such as cancer, type 2 diabetes, stroke, cardiovascular disease, obesity, arthritis and it acts as a gas causing severe anesthesia. With manufacturing facilities in Pensacola and Maitland in Florida, Ontario, Canada and Mississippi, Airgas is an important manufacturer and distributor with a significant presence in North America.
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Automotive Segment to Witness Significant Growth Owing to Rise in Oxygen Content of Fuel Blend
The automotive segment is expected to grow at a CAGR of 7.3% during the forecast period in the global nitrous oxide market. Modern vehicles use nitrous oxide to significantly increase engine power by increasing the oxygen content of the fuel blend, thus allowing the engine to burn more fuel. Most nitrous oxide systems are equipped with trucks, motorcycles, snowmobiles, all-terrain vehicles, and automobiles. However, regulations for the use of nitrous oxide in road vehicles vary from country to country and even Europe.
Followed by North America, Europe was the second fastest growing region in the global nitrous oxide market. Chronic diseases are the leading causes of death and morbidity in Europe. Most older people suffer from chronic diseases. Recently, due to increasing income and sedentary lifestyle, young and middle-aged people are being diagnosed with chronic diseases which are expected to contribute to the demand for nitrous oxide in this region.
A comprehensive analysis of the major players in the global nitrous oxide market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments of Global Nitrous Oxide Market
- In July 2022, BPR Medical, a leading ventilation specialist, met with Medclare, a Swedish specialist in the safe use of nitrous oxide. This collaboration led to a strategic agreement to achieve mutual goals. With this arrangement, BPR has secured exclusive distribution rights for Medclare's new mobile nitrous oxide conversion technology in the UK and Ireland region This partnership leverages BPR's respected position in the respiratory pain management industry, which Medclare can not only benefit from the BPR designation but can also play a role supporting the NHS in achieving its environmental objectives.
- In November 2022, Chart Industries, Inc. will have 100,000 shares. made an important announcement regarding its planned acquisition of Howden Group for a capital deal of $4.4 billion. The Howden Group, a renowned company headquartered in the UK, specializes in the provision of insulation and air insulation products and services. Their product range includes compressors, steam turbines and a range of gas handling solutions. The purchase agreement is expected to bring several benefits to Chart Industries. These benefits include cost efficiencies, increased trade and industry synergies in service and maintenance.
Key Questions Answered in Global Nitrous Oxide Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market's future growth?
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