Industrial Gases Play Vital Role In The Expanding Oil And Gas Industry: A Significant Driver Propelling The Industrial Gases Market In 2025

The Industrial Gases Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Industrial Gases Market Size and Projected Growth Rate?
The market size of industrial gases has seen a robust expansion in the past few years. The valuation is predicted to increase from $104.7 billion in 2024 to $112.38 billion in 2025, displaying a compound annual growth rate (CAGR) of 7.3%. This growth during the historic period is credited to the onset of energy storage solutions, widening of environmental regulations, advancements in glass manufacturing, adoption in the food processing sector, and innovations by leading industrial gas firms.

The industrial gases sector is projected to undergo substantial expansion in the coming years, rising to a market worth $149.19 billion in 2029, thanks to a compound annual growth rate (CAGR) of 7.3%. This anticipated growth in the forecast period stems from the revolution of digitalization and Industry 4.0, the priority on cleaner modes of transportation, evolution in environmental regulations, the surge in oil refining and petrochemicals, and the acceleration in metal fabrication. Notable trends expected during this forecast period include the application of these gases in environmental assessment, the expansion in the production of LNG, their incorporation into the aerospace and aviation sectors, emphasis on carbon capture and storage, and high demand from the electronics industry.

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What Are the Major Segments in the Industrial Gases Market?
The industrial gases market covered in this report is segmented -

1) By Product: Oxygen, Nitrogen, Hydrogen, Carbon dioxide, Acetylene, Argon
2) By Application: Packaging, Coolant, Carbonation, Cryogenic, Cutting And Welding, Laboratory, Air Separation, Other Applications
3) By Distribution: On-Site, Bulk, Cylinder
4) By End User: Metallurgy, Healthcare, Chemical, Food And Beverage, Oil And Gas, Power, Pulp And Paper, Electronics, Other End Users

Subsegments:
1) By Oxygen: Medical Oxygen, Industrial Oxygen, High-Purity Oxygen
2) By Nitrogen: Liquid Nitrogen, Gaseous Nitrogen, Nitrogen For Food Preservation
3) By Hydrogen: Hydrogen For Fuel Cells, Hydrogen For Refining, Industrial Hydrogen
4) By Carbon Dioxide: Liquid Carbon Dioxide, Dry Ice, Carbon Dioxide For Beverage Carbonation
5) By Acetylene: Acetylene For Welding, Acetylene For Chemical Synthesis
6) By Argon: Argon For Welding, Argon For Lighting And Electronics, High-Purity Argon

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What Are The Driving Industrial Gases Market Evolution?
The growth of the industrial gases market is expected to accelerate due to their growing usage in the oil and gas sector. This global industry encompasses a range of activities including exploration, extraction, refining, transportation, and distribution of crude oil, natural gas, and various hydrocarbons. Various uses of industrial gases are found within this industry, from boosting production and enhancing oil extraction via gas lift techniques, to safety measures such as gas purging and blanketing in refining processes. Additional applications involve using these gases to prevent explosions, detecting gas to secure a safe working atmosphere, and employing cryogenic methods in the storage and transportation of natural gas, and welding and cutting operations. For example, as reported by the International Energy Agency, an autonomous intergovernmental organization based in France, the global oil and gas industry saw a massive profit increase in 2022, soaring to $4 trillion from an average of $1.5 trillion in February 2023. As a result, the escalating usage of industrial gases within this sector strongly contributes to the expansion of the industrial gases market.

Which Firms Dominate The Industrial Gases Market Segments?
Major 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, Ingersoll Rand, Iwatani Corporation, National Gases Ltd., Matheson Tri-Gas Inc., Sicgil Industrial Gases, SOL S.p.A., Messer Group GmbH, Horiba Ltd., Praxair Technology Inc., Gulf Cryo LLC, Norco Inc., Greco Gas, Western International Gas & Cylinders Inc., Holston Gases Inc., Indiana Oxygen Company, Weldstar, Sutton-Garten Co., Butler Gas Products Company, Eureka Oxygen Co, American Gas Products

What Trends Are Expected to Dominate the Industrial Gases Market in the Next 5 Years?
Key players in the industrial gases sector are concentrating their efforts on creating novel solutions like static mixers in a bid to advance sustainable mixing of hydrogen and natural gas and secure a dominant position in the market. A static mixer refers to a contraption used during fluid processing to promote the blending of multiple components, without the necessity for moving parts or additional energy sources. For example, in June 2023, Tormene Group, an engineering services firm based in Italy, introduced GreenBoost, a unique Static Mixer that enables effective mixing of hydrogen and natural gas. This responds to the significant challenge of mitigating greenhouse gas emissions. The mixer is designed to yield a consistent gas mixture, decreases hydrogen overpressure, and supports the direct usage of hydrogen produced by electrolyzers.

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Which Is The Largest Region In The Industrial Gases Market?
Asia-Pacific was the largest region in the industrial gases market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial gases market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Industrial Gases Market?
2. What is the CAGR expected in the Industrial Gases Market?
3. What Are the Key Innovations Transforming the Industrial Gases Industry?
4. Which Region Is Leading the Industrial Gases Market?

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