Inert gas generator (IGG) refers to machinery on board marine product tankers. Inert gas generators consist distinctively of a gas producer and a scrubbing system.
Market Analysis and Insights: Global Inert Gas Generator System (IGGS) Market
Due to the COVID-19 pandemic, the global Inert Gas Generator System (IGGS) market size is estimated to be worth US$ 895.8 million in 2022 and is forecast to a readjusted size of US$ 1758.7 million by 2028 with a CAGR of 11.9% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Flex Inert Gas Generator accounting for % of the Inert Gas Generator System (IGGS) global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Crude Oil Tankers segment is altered to an % CAGR throughout this forecast period.
Asia Pacific accounted for the largest share of the IGGS market in 2017, followed by Europe and North America and Rest of World. China is estimated to be the leading market for IGGS in Asia Pacific in 2018. The reason for China’s dominance over the Asia Pacific IGGS market can be attributed to the country’s increasing development in industrial sector along with the increasing demand for shipping cargo vessels.
Global Inert Gas Generator System (IGGS) Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Inert Gas Generator System (IGGS) Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Flex Inert Gas Generator
Dual Fuel Inert Gas Generator
Inert Gas Deck House Module
Segment by Application
Crude Oil Tankers
LPG Tankers
LNG Tankers
By Company
Honeywell
Cobham
Eaton
Parker Hannifin
Air Liquide
Onsite Gas Systems
Wartsila
Coldharbour Marine
Novair
Alfa Laval
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina