India Liquid Oxygen market is driven by rising demand in hospitals along with its further need in aerospace industries for aircraft launching. According to the TechSci Research report, “Indian Liquid Oxygen Market – By Region, Forecast, and Opportunities, 2018-2028”, the Indian Liquid Oxygen Market is anticipated to grow at a significant rate in the forecast period 2024-2028.
The Important Elements of India Liquid Oxygen Market
The increasing adoption of Indian Liquid Oxygen in Steel Plants is augmenting the growth of India’s Liquid Oxygen market. Steel factories have been able to increase the supply of Liquid Oxygen through a variety of actions, including reductions in the production of Nitrogen and Argon and exclusively manufacturing Liquid Oxygen in most facilities.
Also, the growing occurrences of patients hit by the COVID-19 pandemic and its usage for the treatment of asthma, cystic fibrosis, dysphasia, chronic obstructive pulmonary disease, heart failure, and lung disease, among others, are expected to fuel the growth of the market. Growing adoption of collaborations and partnerships, acquisitions and mergers, and others are anticipated to influence the market growth further. The Indian government has taken several measures to increase the production and supply of liquid oxygen in the country. In addition, another important application of liquid oxygen in India is in the field of steel production. Liquid oxygen is used as a fuel for blast furnaces in the steel industry, where it is used to increase the temperature of the furnace and reduce the amount of fuel required. This has made the steel production process more energy-efficient and cost-effective. The use of liquid oxygen in steel production has also reduced the carbon footprint of the industry thus augmenting the growth of the Indian Liquid Oxygen Market.
However, it is a cryogenic liquid and due to its low temperature and its vapors, it has a major burn risk to human flesh. When exposed to oxygen, materials that typically burn in the ambient air will burn more aggressively. The difficulty in transportation, high cost, lack of knowledge, and lack of infrastructure to facilitate the use of Liquid Oxygen is a few factors that may hamper the growth of the market in the forecast period.
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India Liquid Oxygen market is segmented into type, end user, region, and company.
Based on type, the market is divided into vertical storage tanks vs horizontal storage tanks. The vertical storage tank segment is expected to witness a rise over the forecast period. This is attributed to the lowered production cost as it needs less material as compared to horizontal storage.
Based on end users, the market is divided into aerospace, submarine, gas industries, medical, and others. The medical segment is anticipated to grow during the forecast period. This is attributed to the massive usage of liquid medical oxygen for the treatment of asthma, cystic fibrosis, dysphasia, chronic obstructive pulmonary disease, heart failure, and lung disease.
Major companies operating in the Indian Liquid oxygen market are:
- INOX Air Products
- Ellenbarrie Industrial Gases
- India Glycols Pvt Ltd
- Universal Boschi
- Delhi Cryogenic Products Private Limited
- Reliance Industries Ltd
- Praxair India Pvt. Ltd
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“Western region is expected to witness significant growth in the upcoming years, due to the availability of well-established health policies, and the presence of all kinds of elderly care services, including institutional services, daycare, and vocational rehabilitation services, among others. The number of older people in the region is increasing at an unprecedented rate which leads to a huge demand for liquid oxygen in the medical and healthcare sectors. In addition, the growing public and government funding helps in improving care facilities which help in taking care of Indian Liquid Oxygen demands, thus, in turn, strengthening the growth of the market, which is expected to grow through 2028”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Liquid Oxygen Market By Type (Vertical Storage Tank v/s Horizontal Storage Tank), By End User (Aerospace, Submarine, Gas Industries, Medical, Others), By Region, Competition Forecast & Opportunities, 2018-2028F” has evaluated the future growth potential of Indian Liquid Oxygen and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in of Indian Liquid Oxygen market.
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