LONDON--(BUSINESS WIRE)--The industrial gases market in Europe is expected to post a CAGR of over 6% during the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing use of industrial gases in the automotive industry. Several established automotive brands are based out of European countries. Europe is an established market for the manufacturing of automotive vehicles. Industrial gases are used in metal processing, metal fabrication, and electronic assembly during the manufacturing process.
This market research report on the industrial gases market in Europe 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the industrial gases as an alternative source of energy as one of the key emerging trends in the market:
Industrial gases market in Europe: Industrial gases as an alternative source of energy
Hydrogen is the most abundantly found element, especially in water. Additionally, it can be used for reducing the emission of greenhouse gases. It is an alternative to petroleum-based fuels as it is renewable, abundant, and produces zero emission. Also, by storing hydrogen, electricity can also be generated for various applications.
“With the advent of new generation hydrogen-powered cars, which use hydrogen fuel cells, hydrogen can also be used as a fuel to reduce harmful gas emissions, which are emitted by conventional engines. A fuel cell generates electrical power through a chemical reaction by converting a fuel into electricity. Thus, these hydrogen fuel cells can replace traditional fuel, thereby reducing the greenhouse gases emissions,” says a senior analyst at Technavio for research on industrial gases.
Industrial gases market in Europe: Segmentation analysis
This market research report segments the industrial gases market in Europe by end-user (manufacturing, chemical processing, metallurgy, medical and healthcare, food and beverage, refining, and electronics) and geographical regions (Spain, UK, Italy, Germany, Poland, Scandinavian countries, France, and Austria, and other European countries).
The manufacturing segment held the largest market share in 2017, accounting for nearly 25% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
Germany led the market in 2017 with a market share of nearly 17% of the market share. The market share occupied by this region is anticipated to decrease during 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market sizing
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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