Oxygen Plant Market and Why Investing in it is Lucrative in 2021 and Beyond

There’s hardly any doubt about the vitality of oxygen gas being the most crucial human sustenance component. What’s intriguing is that its applications extend way beyond what we usually comprehend. From industrial use to medical employment, the need for gas is so significant that a thriving market exists for oxygen plants.

And in all honesty, the covid crisis has only fuelled the rate at which people are investing in this domain.

It’s difficult to predict trends in this business, but it’s important to note that oxygen plants can be used in several ways. The two most common uses are welding and food processing. A 2018 study revealed that the oxygen plant market would grow from USD 8.3 billion to USD 14.41 billion in a matter of seven years. Owing to the influence of the COVID pandemic, this surge would be even more than estimated.

Besides, the demand for oxygen gas is (always has been) so high, in fact, that oxygen plants have been part of the manufacturing industry for over a century. Industries with a large requirement for this product use it to supply their facilities, ensuring that workers get the life-sustaining gas and maintain their business’s health.

And while the oxygen plant industry is a relatively new one, it’s experiencing significant growth. This article discusses how the industry is thriving because of the demand among businesses and individuals to have oxygen gas on hand and possibilities for the future.

A Surge in Oxygen’s Demand During the Coronavirus Crisis

The demand for oxygen gas has dramatically increased in the past year due to the coronavirus pandemic. The factories and shops that use it for their care-related purposes are doing their part to ensure that they have enough of this life-sustaining material. They have also contracted with other companies to ensure that there is enough of it on hand as well.

Some people are not even sure where they could purchase enough oxygen gas, but businesses in the industry have been able to help with this issue by stocking up on supplies and allowing others to buy from them as well. 

The rise in the demand for oxygen gas has been attributed to several factors, such as the increase in patients needing it during medical procedures. 

For instance, the Punjab and Maharashtra governments have been emphasizing the setting up of oxygen plants for the past few weeks. The Tribune reports that DRDO, too, has been setting up five oxygen plants in the Delhi NCR region with IFFCO joining up as well — all the efforts being to tackle the ongoing COVID crisis.

In the long run, however, it is possible that the decline of the COVID pandemic may reduce the need for oxygen gas. Therefore, we’ll have to wait and see how this scenario unfolds, but in the meantime, those who have already started manufacturing this item can take advantage of the sudden business boom. Besides, even if the demand comes down, there’s nothing that would stop the selling of this product, for various industries rely on it.

Reasons Why Investing in Oxygen Plants Can Bolster your Business

Oxygen’s Importance to the Medical Sector — Looking beyond COVID

People from the medical sector often contact those who sell this product because they require large amounts of oxygen gas for their daily activities. Some of these individuals want to use it to clean their facilities and other related tasks. Others need it during surgery or when working with patients requiring it for respiratory problems. Likewise, some are using it to make certain medical products.

The medical sector has been experiencing a lot of growth as their needs for oxygen gas have increased due to the rise in surgeries and procedures that require this gas. As it stands, surgeries in excess of 230 million are performed across the world every year.

The results of these operations have been much more successful than in previous years. This means that hospitals need to purchase enough oxygen plants to meet these demands. In fact, the increase in demand has been so high that many companies are now making oxygen plants rather than importing them. These businesses offer financial incentives so customers can purchase their products.

Human experiences with oxygen in the medical setting extend far beyond surgeries to include people who are confined or bedridden and those who are injured. People who are in the hospital can experience excruciating pain and anxiety, and this gas is vital in keeping them alive and helping them cope with their situation.

Oxygen’s Immense Usage in the Industrial Setting

The importance of oxygen plants in industries cannot be overstated. People in the manufacturing industry require oxygen gas to ensure that their facilities remain safe and productive, giving them the ability to provide life-sustaining gas for workers. 

Some of the medical uses for this gas have also been applied in some industrial settings. Moreover, industrial products, including supplies for livestock, food and dairy substitutes, beverages and canned goods, pharmaceuticals, and medical devices, need oxygen. 

In addition to the aforementioned, businesses that manufacture pharmaceuticals, medical devices, and other products need oxygen as well.

Oxygen as a Tackling Measure Against Natural Disasters 

Interestingly, the growth of this industry could be attributed to the need for oxygen plants during disasters like hurricanes and wildfires. The amount of oxygen needed for these events is usually large, and many facilities in these areas are unable to stockpile enough supplies. As a result, businesses worldwide have been ordering sufficient amounts of oxygen from companies that manufacture it. 

Due to the oxygen plant’s location, oxygen gas is often delivered in large containers to areas where hurricanes and wildfires have occurred. The delivery of these products is essential because it ensures enough oxygen gas to keep the victims of these disasters alive. It also allows emergency workers enough time to escape the disaster area before they run out of oxygen.

The recent rise in the demand for oxygen gas due to natural disasters has been an added benefit for those who manufacture the product. These companies have been able to offset their energy expenses by selling oxygen plants to individuals and businesses and making money in the process.

Conclusion — Oxygen Plants are a Win-Win for Your Business Endeavours

The market is so lucrative that more and more companies are trying to get a piece of the action, but there will always be room for competition, especially as long as products continue to be sold. And as it stands, all the forecasts and estimations speak in favour of the product being sold worldwide in large quantities. 

Want to know more about the Oxygen Plant market? Reach out to EIRI for market details and how you can successfully pave your way into this industry.