Industrial Gas Market by Top Leading Manufacturers- Air Liquide, The Linde Group, Praxair, Inc., Air Products and Chemicals Inc

The Global Industrial Gas Market Report provides a study with an in-depth overview, describing the product/industry Scope and elaborating market outlook and status (2021-2030). The report is curated after in-depth research and analysis by experts. The report provides comprehensive valuable insights on the global Industrial Gas market development activities demonstrated by industry players, growth opportunities, and market sizing with analysis by key segments, leading and emerging players, and geographies.

The global industrial gas market is expected to grow from $96.81 billion in 2020 to $101.06 billion in 2021 at a compound annual growth rate (CAGR) of 4.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $122.43 billion in 2025 at a CAGR of 5%.

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Top Companies in the Global Industrial Gas Market: Air Liquide; The Linde Group; Praxair, Inc.; Air Products and Chemicals Inc.; Mitsubishi Chemical Holdings Corp

Market Overview:

Asia Pacific was the largest region in the global industrial gas market, accounting for 42% of the market in 2020. North America was the second largest region accounting for 24% of the global industrial gas market. Africa was the smallest region in the global industrial gas market.

Industrial gas companies are increasingly supplying carbon dioxide emitted from industrial facilities to greenhouses. CO2 emitted from power plants and refineries is stored in local capacities and empty natural gas fields, and transported to greenhouses via pipelines. This process acts as an intelligent CO2 recycling solution and reduces the carbon footprint of greenhouses. For example, Linde collects carbon flow from the Shell oil refinery near Rotterdam, Netherlands, and supplies about 400,000 tonnes of CO2 to over 580 greenhouses across Rotterdam and Amsterdam. This saves the combustion of 115 million cubic meters of natural gas and avoids emissions of 205,000 tonnes per year of CO2.

Interest rates globally are forecasted to rise in most of the developing and developed economies, during the forecast period; this is expected to limit new investments in the market. Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country. This is likely to affect new investments in terms of expansion, research and development of new products. For instance, the US interest rates are expected to rise up to 3.5% by 2021. These factors are expected to have a negative impact on the market as borrowing money becomes expensive, thereby affecting the market growth.

Regional Analysis:

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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