Press release
Industrial Gas Market Strategies 2020-2022 Insight with Leading Players Analysis
The Business Research Company
The global industrial gas market reached a value of nearly $97.6 billion in 2018, having grown at a compound annual growth rate of 4.9% since 2014. Growth in the historic period resulted from emerging markets growth and technology development. Going forward, economic growth and applications of industrial gas in healthcare will drive growth.
The Key drivers of the industrial gas market include:-
Technology Development: Technological development was a key driver of the global economy. Between 2013 – 2018, the value of the NASDAQ index of technology stocks in the USA increased by more than 100%. Industries that involve technology, such as the industrial gas industry, benefited from this trend during this period.
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Industrial Gas Market Segmentation:-
By Type
1. Nitrogen
2. Oxygen
3. Hydrogen
4. Carbon dioxide
5. Others
Hydrogen had the highest growth rate of nearly 5.4% during the historic period. The fastest growth in the historic period can be attributed to demand by oil and gas companies to remove sulphur during the oil refining process and to process crude oil into refined fuels.
By End Use Industry
1. Manufacturing
2. Metallurgy
3. Chemicals
4. Healthcare
5. Food & Beverages
6. Others
The manufacturing market accounted for the largest share of the industrial gas market in 2018 at 26.7%.
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By Geography - The industrial gas market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa
Some of the major key players involved in the industrial gas market are
1. Air Liquide
2. The Linde Group
3. Praxair, Inc.
4. Air Products and Chemicals Inc
5. Mitsubishi Chemical Holdings Corp
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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