According to the IMARC Group, In 2020, the Indian industrial gases industry will be worth $2.8 billion. The market is expected to increase at a CAGR of 11.3 percent between 2021 and 2026. Preācovid the growth rate in the gas industry was at a very natural pace. With the onset of covid, there was a disproportionate increase in demand for medical oxygen. An all time high registered during lockdowns with increasing incidences of covid positive cases. The fear the covid virus instilled in peoples minds also triggered panic buying of medical oxygen, further putting pressure on the medical gases industry. Quick ramp ups were needed to meet this demand.
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