Press release
Soaring Industrial Gases Market: Market Size Growth, Growth Drivers and Key Trends Through 2029
Industrial Gases Market
What Is The Projected Market Size Of The Global Industrial Gases Market And Its Growth Rate?
The industrial gases market has recently witnessed significant growth and is predicted to expand in the coming years.
•Market Size in 2024: $104.7 billion
•Market Size in 2025: $112.38 billion, 7.3% CAGR
•2029 Market Size Projection: $149.19 billion, 7.3% CAGR
Growth in future years will be driven by factors such as digitalization and industry 4.0, increased focus on clean transportation, advancements in environmental regulations and much more.
What Is Driving The Growth In The Industrial Gases Market?
An increase in application of industrial gases in the oil and gas industry is expected to drive the growth of the industrial gases market. The oil and gas industry plays a vital role in economic sectors by offering exploration, extraction, refining, transportation, and distribution of petroleum products. Industrial gases are extensively utilized in oil and gas related functions such as enhancing production and ensuring safety in refining. The oil and gas industry's profits considerably increased in 2022, therefore driving the growth of the industrial gases market.
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Who Are the Key Players Driving Industrial Gases Market Growth?
Significant companies operating in the industrial gases market include
•BASF SE
•Linde plc
•Air Liquide S.A.
•Atlas Copco
•The Southern Gas Ltd.
•Air Products and Chemicals Inc.
•Taiyo Nippon Sanso Corporation
•Among others
What Are The Key Trends In The Industrial Gases Market?
Key market trends include :
•Adoption in environmental testing
•Expansion in LNG production
•Integration in aerospace and aviation
•Focus on carbon capture and storage
•Demand from electronics industry
What Are The Segments Of The Global Industrial Gases Market?
The major market segments include
•By Product: Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Argon
•By Application: Packaging, Coolant, Carbonation, Cryogenic, Cutting And Welding, Laboratory, Air Separation, Other Applications
•By Distribution: On-Site, Bulk, Cylinder
•By End User: Metallurgy, Healthcare, Chemical, Food And Beverage, Oil And Gas, Power, Pulp And Paper, Electronics, Other End Users
Which Region Leads The Industrial Gases Market?
Asia-Pacific was the most significant region contributing to the industrial gases market's growth in 2024 and is projected to be the fastest-growing region in the forecast period. Other regions covered in this market report include Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Industrial Gases Market Global Market Report?
- Market Size Analysis: Analyze the Industrial Gases Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Industrial Gases Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Industrial Gases Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Industrial Gases Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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