Industrial Gases Market Share, Industry Size, Leading Companies Outlook, Upcoming Challenges and Opportunities till 2028, Fortune Business Insights

According to the report, The global industrial gases market size is anticipated to showcase notable growth in the forecast years on account of the increasing demand from the oil and gas industry worldwide. Industrial gases are used across various applications such as food & beverage, oil and gas, petrochemicals, healthcare, chemicals, and others. As per a recent report by Fortune Business Insights, titled, "Industrial Gases Market Size, Share and Industry Analysis, By Gas Type (Oxygen, Nitrogen, Carbon Dioxide, Hydrogen, Argon, and Others), By Application (Packaging, Coolant, Carbonation, Cryogenic, Cutting & Welding, Laboratory, Air Separation, and Others), By End User (Metallurgy, Healthcare, Chemical, Food & Beverage, Oil & Gas, Power, Pulp and Paper, Electronics, Water Treatment, Mining, and Others), and Regional Forecast, 2021-2028"

The global industrial gases market is projected to grow from $91.29 billion in 2021 to $148.16 billion in 2028 at a CAGR of 7.2% in forecast period, 2021-2028

Get Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/industrial-gases-market-101728

Fortune Business Insights™ lists out the names of all the prominent players present in the Industrial Gases Market. These include:

Mohsin Haider Darwish LLC
Bhuruka gases ltd
Bristol Gases
Dubai Industrial Gases
Air Products
Southern Company Gas
Concorde-Corodex Group
Ellenbarrie Industrial Gases Ltd.
Air Liquide
Universal Industrial Gases
Messer Group
BASF
Linde
Gulf Cryo
Matheson Tri-Gas
Other players
What are the objectives of the report?

The report is based on a 360-degree analytical view of the market, key parameters, namely, market restraints, drivers, challenges, opportunities, and future outlook. It also highlights the market segmentation in details and lists out the names of the leading segment with the base and forecasted figures. Furthermore, it discusses the significant industry developments, interesting insights, and current trends prevalent in the industrial gases market. For more information on the report, log on to the company website.

Drivers & Restraints-

Increasing Demand from Healthcare Sector to Add Impetus to Market

An increase in the prices of crude oil and a rise in the need for refining have propelled the demand, especially from the oil and gas industry. Additionally, they are also used for various purposes, such as coiled tubing, pipe cooling and inerting, drilling, leak testing, maintenance, spool base in pipe building, and others. Such factors are promoting the industrial gases market growth. Furthermore, the expansion of the healthcare and food & beverage industries is aiding to the growth of the market.

On the contrary, the current outbreak of the COVID-19 pandemic and its impact on various industries are likely to hamper the market in the coming years. This, coupled with the stringent regulations imposed on the storage, manufacturing, and distribution of industrial gases may pose a hindrance to the growth of the market in the coming years.

Nevertheless, a rise in the industrialization and urbanization, as well as the growing consumer demand from the processing and manufacturing industries are likely to create lucrative growth opportunities for the market in the long run.

Segment:

Oxygen Segment to Continue Dominance on Account of Its Rising Demand from Pharmaceutical Industries

Based on segmentation by gas type, the oxygen segment earned 28.9% industrial gases market share in 2019. This is attributable to the extensive usage of oxygen and its high demand from various sectors such as pulp and paper, chemical, pharmaceutical, and petroleum. However, the carbon dioxide segment will also showcase notable growth on account of its significant applications as a raw material in products such as meat, fruits and vegetables, poultry, and others.

Speak to Analyst:

https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/industrial-gases-market-101728

Regional Analysis-

Asia Pacific to Dominate Backed by Rapid Industrialization & Urbanization

On the basis of regional segmentation, the market is dominated by Asia Pacific, which collected a revenue of USD 31.05 billion in 2019. Factors attributed to the growth of this region include rapid urbanization and industrialization, coupled with a rise in the investment on sustainable energy development by various nations such as India, China, Indonesia, Japan, and others. On the other side, North America ranks second. It is likely to earn significant revenue in the coming years owing to the rising application in chemical, healthcare, and oil & gas industries.

Competitive Landscape-

Linde Earning Maximum Share Attributable to a Rise in Industrial Investment

The global market is dominated by Linde on account of its high investments in the pharmaceutical and healthcare industries. Besides this, the company is also investing massively on improving the economic scenario. It is also delivering its products to the rising number of manufacturing and metal processing industries, along with food & beverage, chemical, and oil & gas industries. The other players are engaging in merger and acquisition, joint ventures, contracts and agreements, different collaborative strategies, and others to gain a competitive edge in the market.

Major Developments of the Market Include:

June 2019 - Exxon Mobil Asia Pacific Pvt. Ltd. and Linde engaged in multi-billion agreements to expand their geographical reach in Singapore. This project includes the construction, development, and operation of four additional gasifiers, an air separation plant with a capacity of 1200 metric ton per day (TPD), and sulfur recovery plants along with the processing units for downstream gas belonging to Linde.

Market Segmentation:

1. By Gas Type

Oxygen
Nitrogen
Carbon Dioxide
Hydrogen
Argon
Others

2. By Application

Packaging
Coolant
Carbonation
Cryogenic
Cutting & Welding
Laboratory
Air Separation
Others

3. By End User

Metallurgy
Healthcare
Chemical
Food & Beverage
Oil & Gas
Power
Pulp and Paper
Electronics
Water Treatment
Mining
Others

4. By Geography

North America (the U.S. and Canada)
Europe (U.K., Germany, France, Italy, Spain, Russia, and the Rest of Europe)
Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)
Latin America (Brazil, Mexico, and the Rest of Latin America)
The Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)

Quick Buy - Industrial Gases Market Research Report:

https://www.fortunebusinessinsights.com/checkout-page/101728

Detailed Table of Content

Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends - For Major Countries
Latest Technological Advancement
Regulatory Landscape
Industry SWOT Analysis
Porters Five Forces Analysis
Qualitative Analysis - Impact of COVID-19
Impact of COVID-19 on the Industrial Gases Market
Steps Taken by the Government to Overcome the Impact
Key Developments in the Industry in Response to COVID-19
Potential Opportunities and Challenges due to COVID-19 Outbreak
Global Industrial Gases Market Analysis (USD Billion), Insights and Forecast, 2021-2028
Key Findings / Summary
Market Analysis, Insights and Forecast - By Gas Type
Oxygen
Nitrogen
Carbon Dioxide
Hydrogen
Argon
Others
Market Analysis, Insights and Forecast - By Application
Packaging
Coolant
Carbonation
Cryogenic
Air Separation
Cutting & Welding
Laboratory
Others
Market Analysis, Insights and Forecast - By End-User
Metallurgy
Healthcare
Chemical
Food & Beverage
Oil & Gas
Power
Pulp and Paper
Electronics
Water Treatment
Mining
Others
Market Analysis, Insights and Forecast - By Region
North America
Latin America
Europe
Asia Pacific
Middle East and Africa
TOC Continued...!!!

Get your Customized Research Report:

https://www.fortunebusinessinsights.com/enquiry/customization/industrial-gases-market-101728

Contact Us:
Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

This release was published on openPR.