Who are the key players in Industrial Gas Market?

Air Liquide, Messer Group GmbH, Air Products Inc., Linde PLC and Nippon Sanso Holdings Corporation are the major companies operating in the Industrial Gas Market. Read More

Which is the fastest growing region in Industrial Gas Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Industrial Gas Market?

In 2024, the Asia Pacific accounts for the largest market share in Industrial Gas Market. Read More

What years does this Industrial Gas Market cover, and what was the market size in 2023?

In 2023, the Industrial Gas Market size was estimated at 1.60 billion tons. The report covers the Industrial Gas Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Gas Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the major drivers of the Industrial Gas Market?

The major drivers of the Industrial Gas Market are a) Growing Need for Alternate Energy Sources b) Increasing Demand for Frozen and Stored Food c) Increasing Demand from the Healthcare Sector Read More

What are the segments covered in the Industrial Gas Industry Report?

The segments covered in the Industrial Gas Industry Report are a) Product Type: Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Helium, Argon, Ammonia, Methane, Propane, Butane b) End-User Industry: Chemical Processing and Refining, Electronics, Food, and Beverage, Oil and Gas, Metal Manufacturing and Fabrication, Medical and Pharmaceutical, Automotive and Transportation, Energy and Power Read More

What are the major drivers of the Industrial Gas Market?

The major drivers of the Industrial Gas Market are a) Growing Need for Alternate Energy Sources b) Increasing Demand for Frozen and Stored Food c) Increasing Demand from the Healthcare Sector Read More

Industrial Gas Market Size

Market Size of Industrial Gas Industry

Study Period	2019 - 2029
Market Volume (2024)	1.67 Billion tons
Market Volume (2029)	2.07 Billion tons
CAGR (2024 - 2029)	4.35 %
Fastest Growing Market	Asia Pacific
Largest Market	Asia Pacific
Market Concentration	High
Major Players *Disclaimer: Major Players sorted in no particular order

Industrial Gases Market Analysis

The Industrial Gas Market size is estimated at 1.67 Billion tons in 2024, and is expected to reach 2.07 Billion tons by 2029, growing at a CAGR of 4.35% during the forecast period (2024-2029).

COVID-19 negatively impacted the market in 2020. Carbon dioxide is used to produce carbonated soft drinks and soda water, which was affected owing to the pandemic scenario. However, the medical industry's demand for oxygen for resuscitation and inhalation therapy increased during the pandemic, stimulating the market's growth.

Over the short term, the growing need for alternate energy sources and increasing demand from the healthcare sector are expected to drive the growth of the industrial gas market.
Environmental regulations and safety issues are projected for the market's growth.
Industrial growth in Asia-Pacific and Africa will likely create market opportunities in the coming years.
The Asia-Pacific region is expected to dominate the market and will likely witness the highest growth during the forecast period.

Industrial Gases Industry Segmentation

Industrial gases mainly comprise carbon dioxide, carbon monoxide, hydrogen, argon, nitrogen, oxygen, helium, and krypton-xenon. The atmospheric gases like oxygen, nitrogen, and argon are captured by reducing the air temperature until the components are liquified and separated. The industrial gas market is segmented by product type, end-user industry, and geography. The market is segmented by product type into nitrogen, oxygen, carbon dioxide, hydrogen, helium, argon, ammonia, methane, propane, butane, and other types. The end-user industry segments the market into chemical processing and refining, electronics, food and beverage, oil and gas, metal manufacturing and fabrication, medical and pharmaceutical, automotive and transportation, energy and power, and other end-user industries. The report also covers the market size and forecasts for the industrial gas market in 17 countries across major regions. Each segment's market sizing and forecasts are based on volume (tons).

Product Type
		Nitrogen
		Oxygen
		Carbon dioxide
		Hydrogen
		Helium
		Argon
		Ammonia
		Methane
		Propane
		Butane
		Other Product Types

End-user Industry
		Chemical Processing and Refining
		Electronics
		Food and Beverage
		Oil and Gas
		Metal Manufacturing and Fabrication
		Medical and Pharmaceutical
		Automotive and Transportation
		Energy and Power
		Other End-user Industries

Geography

Asia-Pacific
	China
	India
	Japan
	South Korea
	ASEAN Countries
	Rest of Asia-Pacific

North America
	United States
	Canada
	Mexico

Europe
	Germany
	United Kingdom
	France
	Italy
	NORDIC Countries
	Rest of Europe

South America
	Brazil
	Argentina
	Rest of South America

Middle-East and Africa
	Saudi Arabia
	South Africa
	Rest of Middle-East and Africa

Need A Different Region Or Segment?

Customize Now

Industrial Gas Market Size Summary

The industrial gases market is poised for significant growth, driven by increasing demand across various sectors, including healthcare and energy. The market, which experienced a downturn due to the COVID-19 pandemic, is recovering as the need for oxygen in medical applications surged. Industrial gases such as oxygen, nitrogen, and hydrogen play crucial roles in chemical production, petrochemicals, and refining processes. The Asia-Pacific region, particularly China and India, is expected to dominate the market, with India anticipated to experience the fastest growth. This growth is supported by the region's expanding chemical industry and rising demand for industrial gases in sectors like steel production and construction.

The market landscape is characterized by consolidation, with major players like Air Liquide, Messer Group GmbH, and Linde PLC leading the industry. Strategic investments and expansions, such as Air Liquide's revamp of air separation units in China and Iwatani Corporation's acquisition of Aspen Air US, highlight the focus on enhancing production capacity and market presence. Environmental regulations and safety concerns continue to shape market dynamics, while opportunities for growth are emerging in regions like Asia-Pacific and Africa. The ongoing industrial growth and government initiatives in these regions are expected to further drive the demand for industrial gases, positioning the market for robust expansion in the coming years.

Explore More

Industrial Gas Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Drivers
  1. 1.1.1 Growing Need for Alternate Energy Sources
  2. 1.1.2 Increasing Demand For Frozen and Stored Food
  3. 1.1.3 Increasing Demand from the Healthcare Sector
2. 1.2 Restraints
  1. 1.2.1 Environmental Regulations and Safety Issues
  2. 1.2.2 Other Restraints
3. 1.3 Value Chain Analysis
4. 1.4 Porter's Five Forces Analysis
  1. 1.4.1 Bargaining Power of Suppliers
  2. 1.4.2 Bargaining Power of Buyers
  3. 1.4.3 Threat of New Entrants
  4. 1.4.4 Threat of Substitute Products
  5. 1.4.5 Degree of Competition
2. MARKET SEGMENTATION (Market Size by Volume)
1. 2.1 Product Type
  1. 2.1.1 Nitrogen
  2. 2.1.2 Oxygen
  3. 2.1.3 Carbon dioxide
  4. 2.1.4 Hydrogen
  5. 2.1.5 Helium
  6. 2.1.6 Argon
  7. 2.1.7 Ammonia
  8. 2.1.8 Methane
  9. 2.1.9 Propane
  10. 2.1.10 Butane
  11. 2.1.11 Other Product Types
2. 2.2 End-user Industry
  1. 2.2.1 Chemical Processing and Refining
  2. 2.2.2 Electronics
  3. 2.2.3 Food and Beverage
  4. 2.2.4 Oil and Gas
  5. 2.2.5 Metal Manufacturing and Fabrication
  6. 2.2.6 Medical and Pharmaceutical
  7. 2.2.7 Automotive and Transportation
  8. 2.2.8 Energy and Power
  9. 2.2.9 Other End-user Industries
3. 2.3 Geography
  1. 2.3.1 Asia-Pacific
    1. 2.3.1.1 China
    2. 2.3.1.2 India
    3. 2.3.1.3 Japan
    4. 2.3.1.4 South Korea
    5. 2.3.1.5 ASEAN Countries
    6. 2.3.1.6 Rest of Asia-Pacific
  2. 2.3.2 North America
    1. 2.3.2.1 United States
    2. 2.3.2.2 Canada
    3. 2.3.2.3 Mexico
  3. 2.3.3 Europe
    1. 2.3.3.1 Germany
    2. 2.3.3.2 United Kingdom
    3. 2.3.3.3 France
    4. 2.3.3.4 Italy
    5. 2.3.3.5 NORDIC Countries
    6. 2.3.3.6 Rest of Europe
  4. 2.3.4 South America
    1. 2.3.4.1 Brazil
    2. 2.3.4.2 Argentina
    3. 2.3.4.3 Rest of South America
  5. 2.3.5 Middle-East and Africa
    1. 2.3.5.1 Saudi Arabia
    2. 2.3.5.2 South Africa
    3. 2.3.5.3 Rest of Middle-East and Africa