Global Nitrous Oxide Market is valued USD 780 million in 2016 is anticipated to grow USD 1.5 billion with the compounded annual growth of 7.40% over the forecast period 2018-2025.
New York 24 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Nitrous Oxide Market industry is poised to raise USD 1.5 billion by 2025. Nitrous oxide is widely used in automotive engines to increase the efficiency. It is one of the simplest ways to provide a significant horsepower boost to any gasoline engine. When nitrous oxide is injected into an engine, its molecules break down and release oxygen during combustion to allow the engine to produce more power. The global market is projected to expand significantly in the coming years. In 2016, North America was the largest market for nitrous oxide due to high prevalence of chronic diseases. Moreover, surging demand from Asia Pacific is anticipated to support the growth of the overall market.
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The industry is seeming to be fairly competitive. Some of the leading market Oxygen and Argon Works Ltd., Praxair, Inc., The Linde Group, Airgas, Inc., Matheson Tri-Gas Inc. SOL S.p.A, Merck KGaA, Air Liquide S.A., Ellenbarrie Industrial Gases Ltd., Promas Engineers Pvt. Ltd. and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- North America was the largest market for nitrous oxide due to high prevalence of chronic diseases.
- Europe is also likely to be a prominent destination for global players.
Bizwit Research & Consulting LLP has considered following segments for the study:
Food & Beverages
- North America
- Asia Pacific
- Latin America
- Rest of the World