Xenon Market to Touch USD 226.7 Million by 2027; Replacement of Conventional Lighting Systems with LED Units to Create Huge Demand for Xenon: Fortune Business Insights™


Pune, Oct. 16, 2020 (GLOBE NEWSWIRE) — The global xenon market size is projected to reach USD 226.7 million by 2027, exhibiting a CAGR of 1.7% during the forecast period. High adoption of xenon gas in ion propulsion systems for satellites will be the most prominent growth driver for this market, shares Fortune Business Insights™ in its report, titled Xenon Market Size, Share & COVID-19 Impact Analysis, By Application (Imaging and Lighting, Medical, Satellite, Electronics & Semiconductors, and others {including R&D}), and Regional Forecast, 2020-2027. Ion thrusters ionize propellant by adding or removing electrons. Xenon (Xe) is the most commonly utilized propellant because it has a high atomic mass and is easily ionized, thus delivering the necessary amount of thrust when ions are accelerated. Moreover, the gas is inert and has high storage density, and therefore, it is ideal for storing in a spacecraft. Its favorable properties for space missions have encouraged space agencies to develop technologies that can efficiently leverage the powers of xenon. For example, the National Aeronautics and Space Administration (NASA) has been developing the NASA Evolutionary Xenon Thruster (NEXT), which is a high-power ion propulsion system engineered to reduce mission trip time and cost.

The unthinkable health and economic emergency created by the COVID-19 pandemic has stymied industrial activities around the globe. Many businesses have been forced to shut shop, while some businesses are undergoing unprecedented financial stress. In these troubled times, with a view to empower your business to survive these challenging times, Fortune Business Insights™ offers comprehensive market research reports based on our experience and expertise. These reports contain a detailed impact analysis of the coronavirus pandemic on the market of your concern.

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As per the report, the global market value stood at USD 195.9 million in 2019. The report also features the following highlights:

  • A thorough examination of the forces driving, restraining, and creating opportunities in the market;
  • An exhaustive evaluation of the market segments;
  • Granular analysis of the regional dynamics impacting the market; and
  • A holistic study of the leading market players and their strategies.

Market Restraint

Potential Health Risks of Xenon May Inhibit Adoption in the Medical Industry

A prominent …

Full story available on Benzinga.com


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