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.
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.
Rapid Advances in Aeronautics
High Medical Liquid Oxygen Demands in Medical Sector Fueling the Market Growth
Furthermore, according to Union Home Secretary, all stocks of liquid oxygen should be made found at 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
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
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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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