Lucintel Anticipates APAC to Witness Maximum Growth during Forecast Period in Oxygen Cylinder Market
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The global oxygen cylinder market is highly fragmented with more than 50 companies supplying oxygen globally for different purposes. APAC is expected to have maximum growth during the forecast period mainly due to the increased use of oxygen cylinders for medical and industrial purpose. The urbanization in China and India had resulted in increasing pollution as well as rise in several respiratory diseases.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the application of oxygen cylinder in different segments and presents its findings in “Global Oxygen Cylinder Market 2013-2018: Trend, Forecast and Opportunity Analysis.” The global oxygen cylinders industry has seen a gradual shift from steel cylinders to aluminum cylinders and in recent years the trend has shifted to an increased use of composite cylinders.
The report describes the safety related issues in SCBA cylinders which will always pose a challenge. The structural inspections must be done annually and the health monitoring system must be tested every three years. Recreational sports that require oxygen cylinders are affected by increased unemployment rates and salary reductions.
The study reveals that new technologies provide more affordability and safer dive because of two-way contact for divers and boats, will attract people towards SCUBA diving. Steel or aluminum cylinders store less gas than equivalently sized composite SCBA cylinders because conventional metallic cylinders cannot withstand high-pressure. The physical properties of composite SCBA cylinders not only extend the practical limit of the cylinders but also increase the gas containment capacity.
It is important for every player serving in industry to be aware of the driver, challenges and emerging trends in the oxygen cylinders market. The report also identifies the emerging trends in the market which have an impact on the way the industry runs. This in-depth research study is designed and intended for use by new entrants, manufacturers, material suppliers, component or structure fabricators, OEMs, investors, executives and consultants focused on the oxygen cylinder industry.
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