Posted On: 2022-02-01
Mining and mineral segment acquired the largest market revenue share in the India PSA nitrogen generator market in year 2020 – 6Wresearch
Increasing investment across the country’s core sectors including steel, iron, and cement industries, along with increasing infrastructure investment and favorable government policies such as Aatmanirbhar Bharat Abhiyaan, Skill India, Make in India, and National Manufacturing Policy for various industries, will be the key market drivers for PSA Nitrogen generator market in India in the coming years. Furthermore, rising demand for packaged food due to safety concerns, along with increased demand for pharmaceuticals for Indian manufacturers, would drive up the demand for PSA nitrogen generators in the coming years. Furthermore, the COVID 19 pandemic in 2020 negatively impacted the demand for PSA nitrogen generators due to low consumer sentiment and supply chain disruptions. Though, as lockdown restrictions and macro pressure eased, sales of PSA nitrogen generators have been increasing with increasing industrial and construction output, repositioning the India PSA nitrogen generator market to its pre-COVID growth trajectory.
According to 6Wresearch, India Pressure Swing Adsorption (PSA) Nitrogen Generator Market revenue size is projected to grow at a CAGR of 7.8% during 2021-2027. The demand for PSA nitrogen generator increased in recent years owing to the growth of mining and manufacturing sector in the country during 2017 to 2019. In addition, growth of pharmaceuticals industry proliferated the demand for PSA nitrogen generator during 2020 to 2021 and a similar 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 increasing production capacity across various industries such as oil and gas, iron and steel, chemical processing, food and beverages, and automotive.
According to Rishabh Singh Bhandari, Research Associate, 6Wresearch, “In terms of end users, mining and minerals segment accounted for the highest market revenues in 2020. Mining and mineral, food and beverages and pharmaceuticals accounted for majority of the market demand in 2020 due to the rise in steel and iron production and increased demand for package food and pharmaceuticals in the country along with favorable reforms and policy measures such as 'Development of Pharmaceutical Industry’ and ‘Production Linked Incentive Scheme’ (PLI).”
Some of the major companies in India PSA nitrogen generator market include Trimech Engineers Pvt. Ltd., Gaztron Engineering Pvt. Ltd. etc., Trident Pneumatics Pvt Ltd., Atmos Power PVT LTD, Airro Engineering Company, Universal ING.LA.Boschi Plants Private Limited, Atlas Copco (India) Ltd., Inox Air Products Inc., MVS Engineering Pvt. Ltd., Nuberg Engineering Ltd, Sam Gas Projects Pvt. Ltd. and Linde Engineering India Ltd. Pvt.
“India PSA Nitrogen Generator Market (2021-2027)” report provides an in-depth analysis with 20 figures and 13 tables, covered in 101 pages. The report estimates and forecast the overall India PSA nitrogen generator market by end users. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.