Allied Market Research has recently published a report, titled, “Oxygen Cylinders and Concentrators Market by Type (Portable and Fixed), End-Use (Healthcare, Pharmaceutical & Biotechnology, Manufacturing, Aerospace & Automotive), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031″. According to the report, the global oxygen cylinders and concentrators market generated $4,151.6 million in 2021, and is anticipated to generate $6,658.5 million by 2031, witnessing a CAGR of 4.6% from 2022 to 2031.
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Prime Determinants of Growth
The increasing number of patients with chronic respiratory diseases, such as chronic obstructive pulmonary disease (COPD) and asthma, and the rising demand for oxygen cylinders & concentrators from numerous industries, including healthcare, manufacturing, and pharmaceutical & biotechnology, are the factors expected to drive the growth of the global oxygen cylinders and concentrators market in the forecast period from 2022 to 2031. However, the high cost of setting up manufacturing units and the lack of availability of oxygen concentrators in some parts of the world may hamper the oxygen cylinders and concentrators market growth in the coming future. On the contrary, the growing investments in R&D to develop technologically advanced products is expected to offer remunerative opportunities for expansion of the oxygen cylinders and concentrators market during the forecast period.
Covid-19 Scenario
- The outbreak of the COVID-19 pandemic has had a significant impact on the growth of the global oxygen cylinders and concentrators market.
- An increasing number of people suffered from respiratory illness due to COVID-19, which surged the demand for oxygen cylinders and concentrators during the pandemic period. In addition, the governments of various nations across the globe established new oxygen plants to meet the demand for oxygen supply.
Fixed Sub-segment to Generate the Highest Revenue by 2031
Based on type, the fixed sub-segment held the highest market size in 2021, as fixed oxygen concentrators & cylinders are immobile & heavy and produce more oxygen as compared to small portable concentrators. In addition, oxygen cylinders and concentrators are advised by doctors to patients who need a constant flow of oxygen during both inhalation and exhalation, which is predicted to boost the sub-segment’s growth by 2031. On the other hand, the portable sub-segment of the oxygen cylinders and concentrators market is projected to manifest the highest CAGR of 5.0% from 2022 to 2031, mainly due to the increasing preference of patients for portable type oxygen cylinders as they are lightweight and easy to move from one place to another.
Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are main factors responsible for new product launch?
- How big is the global & regional market in terms of revenue, sales and production?
- How far will the market grow in forecast period in terms of revenue, sales and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
- Which region has more opportunities?
By Region Outlook
- North America
(U.S., Canada, Mexico)
- Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
- Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
- LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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