1. Indian industrial market is picking up pace with its global counterparts and is exploring the dynamics that this market is offering.
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There exists a long tail of small manufacturers for Industrial Gas in Indian market. The role of industrial gases is constantly being revised to make various manufacturing processes sustainable and economical. Moreover, Indian industrial market is also picking up pace with its global counterparts and is exploring the dynamics that this market is offering. When it comes to the impact of the global pandemic, healthcare market increased its use of Oxygen gas drastically which in turn has resulted in an increased demand for gases. Market is also witnessing a growing competition between domestic and international players in India such as Inox Air Products, Praxair-Linde and more. This has also led to a significant price reduction of industrial gases in India. Apart from the healthy competition brewing between local and global player, the vigorous competition amongst small manufacturers along with the issue of overcapacity, lack of funding for smaller players and minimal technology up-gradation are some issue that the industry deals with.
2. Overall industrial gas market is highly concentrated among the top players but it has a fragmented tail with many small scale producers
When it comes to the overall industrial gases market in India, it is expected that the market size will increase manifold in upcoming years owing to an increased utilization Rate for Oxygen, Argon and Nitrogen, as India is becoming a pivot for manufacturing. Moreover, initiatives such as “Make in India” have also driven industrialization to some extent. Talking about the oxygen market, it is expected to grow at a CAGR of 6.7% in terms of volume in TPD. Its popularity can be attributed to it being the key component for most industrial process and its diversified uses in different sectors. The Nitrogen & Argon gas market is expected to grow at a CAGR of 8% & 6% respectively. While nitrogen has the same use as oxygen in most cases, argon has been popular because of an increasing interest towards blended gases.
3. Industrial Gases market is highly concentrated as well as organized among the Top Players, however it is very fragmented among the small scale Industries
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Industrial Gas Market is highly concentrated among the top player. It is distributed in both organized and fragmented sector. Many small scale producers exist in the market which results in a large fragmented section. When it comes to the key product segment, oxygen is the key product segment & argon is the least.
For more insights on the market intelligence, refer to the link below
India Industrial Gases Market Research Report