India liquid oxygen
market is anticipated to project robust growth in the forecast period, owing to
rapidly increasing COVID-19 cases all around the globe. Liquid oxygen is the
liquid form of the molecular oxygen extracted from the oxygen found in the air.
It serves as a portable source of breathing oxygen in various commercial &
military airplanes and medical purposes. Due to its cryogenic nature, liquid oxygen can
cause materials (it comes into contact with) to become extremely brittle. Additionally,
liquid oxygen has a strong oxidizing effect and will cause organic things to
burn quickly and vigorously. Moreover, several substances like coal briquettes,
carbon black, etc., can explode unexpectedly when exposed to liquid oxygen and
ignited by flames, sparks, or the impact of light blows. Asphalt and other
petrochemicals frequently display this characteristic leading to the rise in
demand for Indian Liquid Oxygen. India has seen a surge in demand for medical oxygen due to the COVID-19 pandemic. The use of liquid oxygen has become vital to treat critical COVID-19 patients who require oxygen support. Liquid oxygen is used for medical purposes in hospitals, as well as in various industries like welding and cutting, chemical manufacturing, and refining.
When the second wave
peaked, close cooperation with foreign vendors accelerated the nation's
purchase and delivery of 29,600 premium oxygen concentrators. According to National
Health Mission , in hospitals all over India, there are 1,242 liquid medicinal
oxygen tanks with a 15,622 tonnes capacity. This represents an increase of 131%
in storage capacity and a 104% increase in the number of tanks. Thus, these
factors are increasing the demand of overall market. The Indian liquid oxygen market is expected to grow at a rapid pace in the coming years due to the increased demand from various industries and the healthcare sector. The major players in the market are investing heavily in expanding their production capacity and distribution networks to meet the growing demand. With the government's support, the Indian liquid oxygen market is expected to witness significant growth in the coming years.
Rapid Advances in Aeronautics
The sudden shortage of Indian liquid
oxygen during the COVID-19 pandemic had adverse effect on other industries
other than medical such as aerospace and
automotive. A rocket engine developed by a startup AGNIKUL COSMOS (the world’s
first single-piece 3D-printed rocket engine) use liquid oxygen as a fuel
(propellant). Liquid Oxygen is also employed in cryogenic engines which provide
more force with each kilogram of
cryogenic propellant as compared to other solid and liquid propellant rocket engines.
Liquid oxygen is commonly used in
aeronautics due to its high oxidizing ability and high density, which makes it
an efficient and powerful oxidizer for rocket propellants. In Rocket engines, Liquid
oxygen is used as an oxidizer, which provides the oxygen required for the fuel
combustion reaction. Liquid oxygen is preferred over other oxidizers because it
has a high density, which allows for a higher fuel-to-oxidizer ratio, resulting
in a higher specific impulse (i.e., the amount of thrust produced per unit of
propellant consumed), thus augmenting the growth of Indian Liquid Oxygen
Market. In addition, Indian Liquid oxygen is used in cold gas thrusters, which are small rocket engines used for maneuvering satellites and spacecraft in orbit. The Liquid Oxygen is stored in a pressurized tank and expelled through a nozzle to produce thrust, leading to the huge demand for Indian
Liquid Oxygen. Liquid oxygen can also be
used in airbreathing engines, which are designed to provide propulsion by using
atmospheric air as the oxidizer. The Indian Space Research Organization (ISRO)
conducted a hot test for the rocket engine for the development of launch
vehicles. According to IBEF, India is the 7th
largest civil aviation market in the world and is expected to come at 3rd
position in civil aviation market within the next 10 years. According to IATA, India
will be the world 3rd largest air passenger market by 2030,
overtaking China and the Unites States.
High Medical Liquid Oxygen Demands in
Medical Sector Fueling the Market Growth
COVID-19 has
abominably affected lung functioning which hampers the oxygen supply to various
parts of human body. Hence, oxygen is required for patients that are hit by the
COVID-19 pandemic. One way in which this oxygen can be supplied and transported
elsewhere, is through Liquid Medical Oxygen which is a high purity oxygen
usually employed for medical treatments. Indian Liquid
oxygen is also used in cryotherapy, a medical treatment that involves exposing
the body to extremely low temperatures to treat certain conditions, such as
warts, skin tags, and cancerous tumours. In cryotherapy, liquid oxygen is
applied directly to the affected area, which freezes and destroys the abnormal
tissue leading to the growth of India Liquid Oxygen Market. Liquid
oxygen is also used in life support systems for critically ill patients, such
as those in intensive care units (ICUs). These systems deliver a high
concentration of oxygen to the patient's lungs, which helps improve their
breathing and can save their life leading to the huge demand of Indian Liquid
Oxygen.
Furthermore,
according to Union Home Secretary, all stocks of liquid oxygen should be made
available to the government for use for medical purposes. No exception is
allowed to any industry regarding the use of liquid oxygen. “Oxygen
Express" is operated by the Indian Railways to certify bulk and quick
oxygen demands for COVID-19 patients, and a green corridor was built to
facilitate the quick movement of these trains. . India increased its overall
oxygen capacity, including liquid medical oxygen (LMO) and pressure swing
adsorption (PSA) plants, to over 20,000 tonnes per day in the past year after
the second wave of COVID-19 infections, led by the Delta strain. This is almost
a 20-fold increase. Hence, the demand from the medical industry is propelling
the growth of India Liquid Oxygen Market.
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Market Segmentation
India liquid oxygen market is segmented
based on Type, By End User, By Region and Company. Based on Type, the market is
further fragmented into vertical storage tank vs horizontal storage tank. Also,
segmentation of the market on grounds of the End User is done into aerospace,
submarine, gas industries, medical and others. Market is further
divided by region into North, South, East and West.
Recent Developments
- With the aid of programmes like the Oxygen Demand Aggregation Systems (ODAS) and the Oxygen Digital Tracking Systems (ODTS), states may now monitor and guarantee the delivery of oxygen at various points throughout the supply chain. Monitoring consumption and predicting demand can also be done using artificial intelligence and digital connectivity.
- Through the PM Cares fund, the central government has supported 1,222 PSA plants, which deliver 1,750 metric tonnes of captive oxygen daily. In addition, many plants have been established in states, thanks to government initiatives and business sponsorship.
- To meet the growing demand for liquid oxygen, many companies in India have expanded their production capacity. In February 2021, the Indian Oil Corporation (IOC) announced plans to set up a new oxygen plant in Bihar with a production capacity of 150 tonnes per day.
- In December 2020, the Adani Group announced plans to set up a 1,000 tonnes per day liquid medical oxygen plant in Gujarat.
- In March 2020, the government announced that it would provide incentives for the production of medical oxygen, including a waiver of excise duty and customs duty on the import of equipment used for the production of medical oxygen.
Company Profiles
INOX Air
Products, Ellenbarrie industrial Gases, India Glycols Pvt Ltd, Universal Boschi,
Delhi Cryogenic Products Private Limited, Reliance Industries Ltd, Praxair
India Pvt. Ltd
are some of the key players in the India Liquid Oxygen Market.
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Attribute
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Details
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Base Year
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2022
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Historical Years
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million, and CAGR for 2018-2022 and
2023-2028
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Report Coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments Covered
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Type
End User
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Regional Scope
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North, South, East and West
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Key Companies Profiled
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INOX Air Products, Ellenbarrie industrial Gases,
India Glycols Pvt Ltd, Universal Boschi, Delhi Cryogenic Products Private
Limited, Reliance Industries Ltd, Praxair India Pvt. Ltd
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Customization Scope
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10% free report customization with purchase. Addition or alteration to
country, regional & segment scope.
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Pricing and Purchase Options
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Avail customized purchase options to meet your exact
research needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable version
of the report in PPT/pdf format on special request)
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Report
Scope:
In this
report, India liquid oxygen market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
·
India Liquid Oxygen Market, By Type:
o Vertical Storage Tank
o Horizontal Storage Tank
·
India Liquid Oxygen Market, By End User
o Aerospace
o Submarine
o Gas industries
o Medical
o Others
·
India Liquid Oxygen Market, By Region:
o North
o South
o East
o West
Competitive Landscape
Company
Profiles: Detailed analysis
of the major companies present in Indian liquid Oxygen market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company
Information
- Detailed analysis and profiling of additional market players (up to five).
India Liquid Oxygen Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]