The Xenon Market size was robust in 2021 and revenue is expected to register a CAGR of 5.2% from 2022 to 2030. Increasing demand for Electric Vehicles (EV) and lighting is a key driver of market revenue growth. Rise in EV sales is attributable to increased focus on reducing Greenhouse Gas (GHG) emissions and the supportive government policies in countries across the globe. The European Union has set a target of reducing CO2 emissions by 40% by 2030 compared to 1990 levels. China has also committed to reducing its carbon intensity by 60%–65% below 2005 levels by 2030. These targets are likely to create significant high demand for electric vehicles in the coming years. Increase in construction activities and infrastructural development projects is also expected to support revenue growth of the market going ahead.
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The global Xenon market has been segmented by application, end-use industry, and region. On the basis of application, the market has been segmented into electric vehicles, lighting, air conditioners and refrigerators, and others. The electric vehicles segment is expected to register fastest revenue CAGR during the forecast period due to increase in EV sales in countries across the globe. Moreover, increase in construction activities is also expected to drive revenue growth of the lighting segment. The air conditioners and refrigerators segment revenue is expected to increase at a moderate pace during the forecast period owing to increase in demand for air conditioners and refrigerators in households and hospitality industry and food outlets and food courts.
Competitive Landscape:
The report sheds light on details about every market player in the global Xenon market along with its global status, product portfolio financial standing, business expansion plan and license agreement. The key players in the market are adopting various key strategies such as mergers and acquisitions, partnerships, joint ventures, collaborations and product launches to strengthen their market position and enhance their product base. Top companies operating in the global Xenon market include: Air Liquide S.A. (France), Air Products and Chemicals, Inc. (US), The Linde Group (Germany), Matheson Tri-Gas, Inc. (US) and others.
Key questions addressed in the global Xenon market report:
· What is the expected market size of the global Xenon market during the forecast period?
· What are the key restraints that are expected to hamper overall market growth between 2022 and 2030?
· What key factors are expected to boost global Xenon market revenue growth throughout the forecast period?
· Which regional market is projected to account for largest revenue share over the forecast period?
· Which regional market revenue is expected to expand at rapid CAGR during the forecast period?
· Which key players are operating in the global Xenon market?
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The report also offers details about each segment and major regions covered in the global Xenon market.
Global Xenon market segmentation:
Type Outlook:
- Cylinders
- Bulk & Micro Bulk
- Drum Tanks
- On-Site
Application Outlook:
- Electric Vehicles
- Lighting
- Air Conditioners and Refrigerators
- Others
Regional Outlook:
· North America
o U.S.
o Canada
o Mexico
· Europe
o Russia
o U.K.
o Germany
o France
o BENELUX
o Rest of Europe
· Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of APAC
· Latin America
o Brazil
o Rest of LATAM
· Middle East & Africa
o Saudi Arabia
o U.A.E.
o Israel
o Rest of MEA
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