Oxygen Procurement Research – Market Trends and Spend Analysis by SpendEdge

LONDON–(BUSINESS WIRE)–#oxygen–Global procurement intelligence advisory firm, SpendEdge,
has announced the release of their ‘Oxygen
Market Procurement Research Report.’ The insights and data in
this report provide a strategic analysis of the supply markets, factors
influencing purchasing decisions, procurement best practices, pricing
models, supplier landscape, and an analysis of the supplier capability
matrix for the chemicals
industry. This report breaks down the data and analysis behind
the procurement of oxygen and acts as an all-inclusive guide for making
smart purchasing decisions.

“Leading suppliers of oxygen are increasingly focusing on
differentiating their product and service offerings through the
development of patented technologies with features such as remote
monitoring and digital control,” says SpendEdge procurement analyst Anil
Seth. “Also, the suppliers are increasingly adopting technologies such
as predictive analytics and remote management systems to reduce service
lead times and proactively identify and execute preventive maintenance
activities,” added Anil.

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Procurement analysts at SpendEdge highlight the following top three
market trends that are contributing to the growth of the Global Oxygen
Market:

• Growth in adoption of analytics and remote management systems
• Increasing consolidation in global oxygen market
• Increased adoption of joint venture as a preferred method for
  procurement of oxygen

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Growth in adoption of analytics and remote management systems:

Leading oxygen suppliers are increasingly adopting technological
innovations such as analytics and remote management systems in their
operations for enhancing their service efficiency and for optimizing the
cost of their operations. The adoption of analytics helps in predicting
component failures. It also helps the buyers in avoiding breakdown of
equipment by employing proactive preventive maintenance activities.

Increasing consolidation in global oxygen market:

Top suppliers in the global oxygen market are increasingly resorting to
inorganic growth by undergoing M&A activities. This helps suppliers to
proliferate by increasing their geographical presence and the scope of
service portfolio. The increase in consolidation also helps in reducing
the cost of operation for top suppliers through economies of scale and
volume advantages. However, tempering of competition in the market
through M&A activities reduces the bargaining power of buyers, resulting
in less favorable prices and contract structure.

Increased adoption of the joint venture as a preferred method for
procurement of oxygen:

There is an increase in adoption of joint ventures by the buyers of
oxygen across the globe. Joint ventures have a higher preference in this
market space as it reduces the overall cost of procurement. The
formation of joint ventures helps the buyers in enhancing their
relationship with suppliers. It also enables the buyers to share their
operational data and use the expertise of suppliers to improve yield and
quality of their manufacturing process.

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Contacts

SpendEdge
Shilpa Balakrishnan
US: +1 (844) 746-0600
[email protected]