U.S. INDUSTRIAL GAS REGULATOR MARKET ANALYSIS

U.S. Industrial Gas Regulator MarketSize and Trends

The U.S. Industrial Gas Regulator Market was estimated to account for US$ 2.7 billion in terms of value in 2021 and is predicted to grow at a CAGR of 4.8% during the forecast period (2022 to 2030).

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.