Industrial Gases Market Forecast: From USD 99.98 Billion in 2023 to USD 157.63 Billion by 2030

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.

Industrial Gases Market Overview:

The industrial gases market encompasses the production and distribution of gases such as oxygen, nitrogen, hydrogen, argon, and carbon dioxide, which are essential across various industries including manufacturing, healthcare, food and beverage, and energy. These gases play a pivotal role in processes like metal fabrication, chemical synthesis, and medical treatments. The market has witnessed significant growth due to increasing industrialization, technological advancements, and the rising demand for sustainable and efficient gas solutions.

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Industrial Gases Market Outlook and Future Trends :

Looking ahead, the industrial gases market is projected to continue its upward trajectory, driven by several key trends. The growing emphasis on clean energy solutions, particularly hydrogen, is expected to spur demand for industrial gases in energy applications. Advancements in gas production technologies, such as air separation units and liquefaction processes, are enhancing efficiency and reducing costs. Furthermore, the integration of digital technologies and automation in gas supply systems is improving operational efficiency and safety. The Asia-Pacific region is anticipated to remain a significant contributor to market growth, owing to rapid industrialization and infrastructure development in countries like China and India.

Key Recent Developments:

Recent developments in the industrial gases market highlight the industry's dynamic nature and its response to evolving demands. Notably, Air Liquide reported a strong performance, driven by gains in its healthcare and electronics segments. The company reaffirmed its full-year commitments, including improving its operating margin and achieving recurring net profit growth, despite ongoing economic uncertainty. Additionally, Linde announced a significant investment to construct a clean hydrogen facility in Alberta, Canada, which will supply hydrogen to a major production complex. This facility, once completed, is expected to be one of Canada's largest clean hydrogen production sites and will contribute to capturing and sequestering significant carbon dioxide emissions annually.

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Industrial Gases Market Segmentation

by Type

Oxygen
Carbon Dioxide
Nitrogen
Hydrogen
Noble Gas
Helium
Argon
Others (Neon, Krypton, Xenon, and Radon)
Others

by End Use

Industry Cement Industry
Mining Industry
Power Generation
Chemical Industry
Metallurgy
Others

Some of the current players in the Industrial Gases Market are:

1. AGA AB
2. Airgas
3. Air Liquide
4. Air Products and Chemicals
5. BASF SE
6. BOC
7. Gulf Cryo
8. The Linde Group
9. Messer Group
10. MOX-Linde Gases
11. Praxair
12. Nippon Gases
13. Matheson Tri-Gas
14. Rotarex
15. Universal Industrial Gases
16. Dubai Industrial Gases
17. Bristol Gases
18. INOX-Air Products Inc.
19. Iwatani Corp.
20. SOL Group

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