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Industrial Gases- Metals And Metal Fabrication Market Analysis, Segmentation, Size, Share, Trend, Future Demand 2024-2033
Industrial Gases- Metals And Metal Fabrication Market
The Business Research Company offers in-depth market insights through Industrial Gases Metals And Metal Fabrication Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The industrial gases- metals and metal fabrication market size has grown strongly in recent years. It will grow from $51.73 billion in 2023 to $55.11 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to growing demand for industrial gases in metal welding and cutting processes, adoption of industrial gases for heat treatment and surface modification, advances in metal recycling, increasing use of industrial gases in non-ferrous metal production, growing demand for metal fabrication in the automotive industry.
The industrial gases- metals and metal fabrication market size is expected to see strong growth in the next few years. It will grow to $70.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rise in demand for specialty gases in additive manufacturing processes, growth in the automotive industry with applications in metal fabrication, increasing adoption of industrial gases in emerging economies, expansion of the electronics industry, adoption of industrial gases in metal 3d printing technologies. Major trends in the forecast period include integration of advanced monitoring and control systems, development of customized gas blends, emphasis on sustainable and eco-friendly gas production methods, collaboration between gas suppliers and metal fabrication companies, innovative packaging and delivery methods.
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Market Segmentation:
The industrial gases- metals and metal fabrication market covered in this report is segmented -
1) By Type: Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Other Types
2) By Function: Primary Metal Production, Metal Fabrication
3) By Transportation Mode: Cylinder And Packaged Gas Distribution, Merchant Liquid Distribution, Tonnage Distribution
4) By End-User: Metal Industry, Automotive, Rail And Shipping, Aerospace And Defense, Heavy Machinery, Other End-Users
Major Driver - Rising Automotive Production Fuels Growth In Industrial Gases-Metals And Metal Fabrication Markets
The increase in automotive production is expected to propel the growth of the industrial gases-metals and metal fabrication markets going forward. The automotive industry refers to firms or organizations that are involved in designing, production, wholesaling, retailing, and maintenance of motor vehicles. Industrial gases play a vital role in automotive production by providing various applications in the manufacturing and processing of metals such as metal heating, welding, shielding, cutting, coating, and others. For instance, in February 2022, according to IBEF (Indian Brand Equity Foundation), an India-based government export promotion agency, the total production of passenger vehicles reached 1,860,809 units, including 3-wheelers and two-wheelers, in the year 2022, and automobile exports reached 4.13 million vehicles in the year 2021. Therefore, the increase in automotive production is driving the growth of the industrial gases-metals and metal fabrication markets.
Competitive Landscape:
Major companies operating in the industrial gases- metals and metal fabrication market report are Praxair Inc., Cryotec Anlagenbau GmbH, Air Products and Chemicals Inc., Iwatani Corporation, The Messer Group GmbH, Linde plc, Southern Industrial Gas Sdn Bhd, Nippon Sanso Holdings Corporation, Singhal Gas Products, Yingde Gases Group Company Limited, Vadilal Industries Ltd., Matheson Tri-Gas Inc., Gulf Cryo, Welsco Inc., Ellenbarrie Industrial Gases Ltd., Sicgil India Limited, Axcel Gases, AGP Gas, EuroWeld Group, National Welding Supply Co., Nexair LLC, Messer Canada Inc., Oxygen Service Company, HyCO, Universal Industrial Gases Inc., AGL Industrial Supply Inc., Praxair Canada Inc., WESCO Distribution Inc., Calgaz, Cryoplant LLC, CryoSource, Cryo-Flo Industries Ltd.
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Top Trend - Partnerships And Collaborations Drive Growth In Industrial Gases-Metals And Metal Fabrication Markets
Partnerships and collaborations have emerged as the key trends gaining popularity in the industrial gases-metals and metal fabrication markets. Major companies operating in the market are making new partnerships and agreements to sustain their position in the market. For instance, in 2021, Air Liquide, a France-based company that manufactures industrial gases and provides gaseous technologies and services for industry and health, partnered with Eni for an undisclosed amount. With this partnership, Air Liquide enables the sustainable deployment of an extended network of hydrogen refueling stations in Italy. Also, this helps in the feasibility and sustainability studies and development of the low-carbon and renewable hydrogen supply chain. Eni is an Italy-based oil and gas company. Also, in February 2022, Air Water Inc., a Japan-based company that deals with industrial gas and water plants, signed a memorandum of understanding (MOU) agreement with Mitsui & Co. This partnership is aimed at expanding the industrial gas business in the global market. Mitsui & Co. is a Japan-based trading and investment company.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Gases Metals And Metal Fabrication Market Characteristics
3. Industrial Gases Metals And Metal Fabrication Market Trends And Strategies
4. Industrial Gases Metals And Metal Fabrication Market - Macro Economic Scenario
5. Industrial Gases Metals And Metal Fabrication Market Size And Growth
…..
27. Industrial Gases Metals And Metal Fabrication Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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