Nitrous Oxide Market Segmentation:
Application Segment Analysis
Medical segment is projected to account for nitrous oxide market share of more than 40% by the end of 2035. The segment growth can be attributed to the growing use of nitrous oxide as an anesthetic agent in various medical procedures. Also, an increasing number of medical professionals prefer nitrous oxide for its soothing and analgesic qualities due to the need for minimally invasive surgeries and dental treatments as well as the focus on patient comfort. The safety and effectiveness of administering nitrous oxide are increased by modern medical technology, such as enhanced delivery methods and accurate monitoring apparatus.
Moreover, the aging of the global population and the rising incidence of dental issues will fuel the segment's expansion. According to the WHO Global Oral Health Status Report (2022), oral illnesses afflict around 3.5 billion people globally, with middle-income nations accounting for three out of every four cases. About 514 million children worldwide suffer from primary tooth caries, whereas an estimated 2 billion adults worldwide suffer from caries of permanent teeth.
The automotive segment is estimated to garner a notable share in the forecast period. The segment is expanding due to the growing use of nitrous oxide to increase engine power by raising the fuel mixture's oxygen content, which allows the engine to burn more gasoline. Most nitrous oxide systems are found in automobiles, trucks, motorbikes, snowmobiles, and all-terrain vehicles. Furthermore, nitrous oxide injection systems are a popular option for car enthusiasts since they produce more horsepower and torque and are frequently used in racing and high-performance automobiles. Additionally, the mass of N2O emissions from mobile sources is decreasing primarily due to the light-duty fleet's turnover. As a result, motor vehicle-related N2O emissions do not significantly contribute to global greenhouse gas emissions.
Our in-depth analysis of the nitrous oxide market includes the following segments:
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