Industrial Gases Market to Reach USD 157.63 billion by 2030

The Industrial Gases Market size was valued at USD 99.98 Billion in 2023 and the total Industrial Gases revenue is expected to grow at a CAGR of 6.72% from 2024 to 2030, reaching nearly USD 157.63 Billion by 2030. Market growth is propelled by the rising needs of healthcare, manufacturing and energy sectors, as well as progress in industrial processes.

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Factors Promoting as well as Opportunities for Market Growth

Industrial gas on healthcare used in medical applications, including respiratory support, anesthesia, and medical imaging is one of the growth-driving factors in this field. Increasing requirement for oxygen, nitrogen, and carbon dioxide due to growing hospitals and healthcare infrastructure, especially in emerging economies.

Industrial gases find their applications in various sectors such as metal fabrication, welding, and chemical processing in the manufacturing sector. Market growth is driven by the burgeoning need for steel, automotive parts, and electronic devices. Moreover, the use of gases such as nitrogen and carbon dioxide in food and beverage packaging and preservation is also driving the market growth.

Segmentation Analysis

The industrial gases market has been segmented on the basis of type, application, and region.

Market Types: Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Argon, and Others. Oxygen: The key portion of the component holds a significant share owing to its extensive utilization especially in healthcare and industrial combustion procedures. Hydrogen is coming into the limelight as a clean source of energy.

Usage: Industrial gases are used in sectors like healthcare, manufacturing, chemical, electronics, energy and food & beverages. Ever expanding use of medical gases is driving the fasted sector-the healthcare sector. Hydrogen is also becoming a big part of sustainable energy solutions as the energy sector grows.

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Country-Level Analysis

United States - Demand for industrial gases continues strong in the U.S. across a variety of end-market sectors, including healthcare, manufacturing, and the oil and gas industry. Increased growth is also facilitated by government investments in hydrogen fuel technology.

Germany: Germany leads within industrial gas and has major capital investment in hydrogen production for clean energy applications. Such market expansion is also aided by the country having an advanced manufacturing sector.

China: As the largest manufacturing country globally, China is the most substantial end-market for industrial gases. Increasing industrialization in the country coupled with investment to manufacture green hydrogen is the key market driver.

Japan: The growing use of hydrogen as an energy source and rapid advancements in semiconductor manufacturing technology are boosting demand for high-purity industrial gases in Japan.

Competitor Analysis

The industrial gases market is highly competitive with strategic developments such as technology advancements and regional expansion as the key focus of the market players. Leading companies include:

Next: Linde plc LNNDE is a global leader in industrial gases and is investing heavily in hydrogen infrastructure and carbon capture technologies.

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Air Liquide: Expanding presence in healthcare gases and hydrogen energy solutions.

Air Products and Chemicals, Inc.: With a leading position in hydrogen production, Air Products is a key force for innovation in clean energy applications.

Messer Group - Messer is focused on industrial gas solutions for the metal fabrication, health care, and food processing industries.

Taiyo Nippon Sanso Corporation: Taiyo Nippon Sanso are a leader in the Asian market involved mainly in specialty gases for electronics as well as other industrial applications.

Press Release Conclusion

The global industrial gases market is expected to grow in response to increased demand for it in healthcare, manufacturing, and renewable energy sectors. The part of industrial gases will be more critical as industries progress towards cleaner and more efficient processes. The advent of innovation, sustainability, and expansion will stimulate growth in this progressive industry, and as the market will reach USD 152.3 billion by 2030, the companies investing in such areas will emerge a winner over their competitors.

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