U.S. Industrial Gas Regulator Market Analysis

1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com U.S. INDUSTRIAL GAS REGULATOR MARKET ANALYSIS

2. Market Overview • An industrial gas regulator is a control device that regulates and maintains the gas pressure, in order to ensure safe and effective operations. Gas regulators are consist of a separate pressure sensor with a controller and flow valve. If the flow load is increased, the regulator flow also increases. Whereas regulator flow decreases with decrease in the load flow, in order to maintain controlled pressure. These gas regulators are used in various industries including oil & natural gas, chemicals, gas pipelines, power generation, etc. Pressure reducing regulators are adopted for maintaining required outlet pressure while delivering the necessary gas flow, which will satisfy the downstream demand. There three main types of gas regulators used in industries namely inert, corrosive, and toxic. • The U.S. industrial gas regulator market is estimated to account for US$ 2,613.7 Mn in terms of value in 2019 and is expected to grow at a CAGR of 3.0 % over the forecasted period 2019-27.

3. Market Dynamics- Drivers • Rising demand for technologically advanced gas regulators is expected to drive growth of the U.S. industrial gas regulators market during the forecast period • Increasing demand for novel products that provide enhanced performance and consistency and reduced environmental impact are expected to boost the demand for new technologies in the near future. Constant enhancement in gas regulators is expected to set new quality standards in performance by replacing diaphragm used in conventional regulators with piston. With this, regulators can be operated at an increased frequency and enhanced pressure stability, which in turn, is expected to boost growth of the market during the forecast period. For instance, in July 2013, Linde Group introduced hybrid premium regulators named Smoothflo. • Increasing demand for natural gas fuel-based equipment is expected to propel the U.S. industrial gas regulators market growth over the forecast period • The use of industrial equipment with natural gas fuel is increasing rapidly. Industrial boilers and furnaces are some of the major such examples that use natural gas as fuel. These boilers are used in various industries including paper, chemicals, food, refining, chemicals, and manufacturing. Industrial gas regulators play a major role in maintaining, controlling, and monitoring gas flow and pressure in these appliances. According to Coherent Market Insights’ analysis, the U.S. food manufacturing industry has over 1,000 industrial boilers, of which some use natural gas as a fuel. On the contrary, the paper industry requires massive industrial boilers to burn production waste, paper, and pulp. Moreover, according to the same source, there are over 300 chemical plants in the U.S. Thus, these factors are expected to propel the U.S. industrial gas regulators market growth over the forecast period.

4. Market Dynamics- Restraints • Strict regulatory policies involved in industrial gas regulators manufacturing are expected to hamper the U.S. industrial gas regulators market growth over the forecast period • Since industrial gas regulators have diverse applications, as it has been used in a plethora of industries including automotive, oil & gas, aerospace, food processing industries. These gas regulators are provided with varying levels of pressure handling capacities associated with the nature of the substances they hold. Thus, fabrication of gas regulators needs a set of standards actress industry verticals such as Material Safety Data Sheet (MSDS) standards for industrial gas regulators. Furthermore, in the U.S., the American Gas Association (AGA) monitors gas regulators norms under the Accredited Standards Committee (ASC). Another similar body is the Gas Piping Technology Committee (GPTC), which is responsible for publishing the ANSI Z380.1, Guide for Gas Transmission, Distribution and Gathering Piping Systems that regulates gas equipment’s standards including regulators. Therefore, these factors are expected to hamper the market growth in the near future. • Vibrant political scenarios across the globe are expected to hinder the U.S. industrial gas regulators market growth over the forecast period • The industrial gas regulators are classified into auxiliary goods category that aid primary goods manufacturing. They are used in primary goods manufacturing such as food processing materials, automobiles, oil & gas composites, and others. Constantly changing political scenarios can affect consumption of these primary goods, thereby hindering the demand for auxiliary goods. Furthermore, global economy is witnessing major challenges such as regulatory insights, energy security, climate change, and other related factors. Growing economic uncertainty and energy security-related price volatility is expected to hamper the demand for industrial gas regulators.

5. Market Opportunities • Growing demand from automotive industry is expected to present major growth opportunities • Gas processing equipment is being increasingly used in automotive industry for various manufacturing processes including the use of Oxyfuel-based cutting and welding in automotive fabrication processes. Moreover, rising preference for gas-powered automobiles is expected to boost the demand for gas regulators across the automobile sector including gas regulators for the pressure indicators of the tanks of liquefied petroleum gas (LPG) and compressed natural gas (CNG) used to power automobiles. Furthermore, industrial gas regulators can also be used in cyclic automotive industry aspects of tire air inflation and refilling machinery. • High demand from chemical sector can offer excellent business opportunities • Chemicals sector is another major end-use sector that is increasingly adopting industrial gas regulators. Different types of gases are used in chemicals industry including inert, toxic, and corrosive. Monitoring and controlling these gases is crucial as leakage of any of them would lead to hazardous events. Industrial gas regulators can efficiently maintain and control desired gas pressure and provide required output whenever needed. Key players in the market can gain competitive edge by targeting the particular sector and providing suitable products.

6. In The U.S. industrial gas regulator market, by type segment defense, Inert gas sub-segment dominated The U.S. industrial gas regulator market in 2019, accounting for 60.2% share in terms of value, followed by corrosive and toxic.

7. Market Trends • Increasing oil & gas exploration activities • High growth of oil & gas sector has prompted energy-dependent industries such as chemicals and power generation, which in turn, has increased the demand for pressure control equipment in North America. According to the U.S. Energy Information Administration, the country’s crude oil and lease condensate reserves increased to 39.9 billion barrels in 2014, an increase of 3.4 billion barrels (9.3 %) from 2013. Moreover, according to the U.S. Energy Information Administration’s (EIA) Annual Energy Outlook 2015, natural gas consumption of the industrial sector will grow at an annual rate of 0.5% through 2020.  • High demand for brass regulators across the nation • Various industries across the U.S. are preferring industrial gas regulators fabricated brass. As compared to other materials such as steel, brass-based regulators have smoother internal finishes and smaller internal volumes, which allows maintaining noncorrosive gases with higher purity levels.

8. Competitive Section • Key players operating in the U.S. industrial gas regulators market are GCE Group, Emerson Electric Co., Itron, Inc., The Linde Group, Rotarex S.A., Air Liquide S.A., Honeywell Process Solutions, Praxair Technology, Inc., Cavagna Group S.p.A, and Air Products and Chemicals Inc.

9. Key Developments • Major companies in the market are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in July 2019, Emerson Electric Co., a U.S.-based company, acquired Zedi Inc.’s software and automation business, in order to help oil and gas producers increase production and lower operating costs. • Key players in the market are involved in contracts and agreements, in order to gain a competitive edge in the market. For instance, in February 2017, Itron, Inc. entered into an agreement with Avangrid Inc. to supply electric and gas technology infrastructure upgrades for New York State Electric & Gas Corp. customers in Ithaca, N.Y.

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