The Business Research Company’s Oxygen Market. The report covers market size, key players, market share and trends to 2030.
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Oxygen Market is one of a series of new reports from The Business Research Company that provide Oxygen market overviews, analyze and forecast market size and growth for the whole market, Oxygen market segments and geographies, Oxygen market trends, Oxygen market geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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The oxygen market consists of the sales of oxygen by entities (organizations, sole traders or partnerships) that manufacture oxygen gas in compressed, liquid, and solid forms. Oxygen is used as medical oxygen for respiration, as industrial gas in different industries, and is also used in oxy-acetylene torches. Oxygen is a colorless non-metallic gas which is highly reactive in nature. Oxygen forms oxides with many compounds and other elements. It is widely used for industrial, medical, and scientific applications as an oxidizing agent or as a catalyst. Oxygen is available in cylinders, spray cans, containers and others.
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The global oxygen market reached a value of nearly $27,741.8 million in 2019, having increased at a compound annual growth rate (CAGR) of 6.1% since 2015. The market is expected to decline from $27,741.8 million in 2019 to $27,548.0 million in 2020 at a rate of -0.7%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is also restrained due to uncertain demand from the industrial sector due to uncertain demand. The market is then expected to recover slightly and grow at a CAGR of 0.11% from 2021 ad reach $27,482.3 million in 2023. The market is expected to reach $30,052.0 million in 2025, and $ 36,553.2 million in 2030.
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