Industrial Gases Market Sales Statistics, Growth Dynamics, Industry Size, Top Players Regional Analysis, Current Trends, and Global Forecast 2030
Research Reports
Mar 17, 2023
Industrial Gases Market Insights:
The Industrial Gases Market is projected to grow from USD 100.32 Million in 2022 to USD 161.8 Million by 2030, exhibiting a compound annual growth rate (CAGR) of 6.16% during the forecast period (2022 – 2030).
The industrial gases market is a large and diverse industry that involves the production, distribution, and sale of gases such as nitrogen, oxygen, hydrogen, argon, and carbon dioxide to various industries for a range of applications. Some of the major industries that rely on industrial gases include healthcare, chemicals, food and beverage, electronics, metals and metallurgy, and energy.
The global industrial gases market is expected to grow steadily in the coming years, driven by factors such as the increasing demand for energy and the growing need for cleaner and more efficient industrial processes. The market is also expected to benefit from the expanding use of industrial gases in emerging economies, particularly in Asia-Pacific.
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Report Metrics |
Details |
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Market Size 2021 |
USD 80.02 Billion |
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Market Size 2022 |
USD 100.32 Billion |
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Market Size 2030 |
USD 161.8 Billion |
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Compound Annual Growth Rate (CAGR) |
6.16% (2022-2030) |
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The Report Answers Following Questions:
- What are the key drivers of this market growth?
- What are the emerging trends that could impact the demand for this industry in the future?
- How will market evolve over the next 5-10 years?
- What strategies do you think companies should adopt to meet the demand and capitalize on market growth opportunities?
- What will be the future growth rate of the market?
- What is the current demand for this market?
Growing demand for industrial gases from substantial end-use industries like oil & gas, chemicals, petrochemicals, food & beverage, and power industry may ameliorate the demand for industrial gases in the forecast period. Due to the augmenting urbanization and industrialization, the uprising use of industrial gases in several sectors like construction, metals, mining, and food services is speeding the growth of the market. Also, enhancing the demand for electronic devices throughout the world is increasing market growth. Additionally, amplifying crude oil consumption worldwide and the necessity for refining may enhance the demand for industrial gases in the forecast period.
Regional Analysis
The global Industrial Gases Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
Asia Pacific is esteemed for the largest revenue share of 36.1% in 2020 and is projected to amplify at the highest CAGR during the forecast period. The boosting demand for industrial gases in the Asia Pacific can be attributed to the growth and proliferation of end-use industries in China, India, South Korea and Japan.
The U.S. counted for the largest revenue share in the North American market and is estimated to register the highest CAGR over the forecast period. The rearing healthcare and electronic industries across the region are likely to advance the growth of the North American market.
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Market Segmentation
The global Industrial Gases Market is segmented into the following types;
By Gas Type
- Oxygen
- Nitrogen
- Carbon Dioxide
- Hydrogen
- Argon
- Others
By Application
- Packaging
- Coolant
- Carbonation
- Cryogenic
- Air Separation
- Cutting & Welding
- Laboratory
- Others
By End-User
- Metallurgy
- Healthcare
- Chemical
- Food & Beverage
- Oil & Gas
- Power
- Pulp and Paper
- Electronics
- Water Treatment
- Mining
- Others
By Distribution
- On-site
- Bulk (Liquid Gas Transport)
- Cylinder (Merchant)
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Key Players
The global Industrial Gases Market’s prominent key players are Air Liquide S.A., Asia Technical Gas Co. (PTE) LTD (ATG), Taiyo Nippon Sanso Corporation, Linde AG, Dubai Industrial Gases, MATHESON Tri-Gas Inc., National Industrial Gas Plants – Mohammed Hamad Al Mana Group, Tripti Gases Pvt. Limited, Ellenbarrie Industrial Gases Ltd., Gulf Cryo, Messer Group GmbH, Bhuruka Gases Ltd., Goyal MG Gases Pvt. Ltd, Airgas Inc., Bristol Gases – Concorde Corodex Group, BASF, Air Products and Chemicals Inc., Cryotech Anlagebau GmbH, The Southern Gas Ltd., India Glycols Ltd., Praxair Inc., Yateem Oxygen, SICGIL India Limited, Buzwair Industrial Gases Factory, Air Products, Abdullah Hashim Industrial Gases & Equipment Co. Ltd., Mohsin Haider Darwish LLC and Ellenbarrie Industrial Gases Ltd.
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