Industrial Gases Market Size To Worth USD 158.3 Billion in 2033 | Grow CAGR by 4.13%

Market Overview:

The industrial gases market is experiencing rapid growth, driven by expanding semiconductor and electronics manufacturing, global green hydrogen and decarbonization initiatives, and rising demand in healthcare and medical applications. According to IMARC Group's latest research publication, "Industrial Gases Market Size, Share, Trends and Forecast by Type, Application, Supply Mode, and Region, 2025-2033", the global industrial gases market size reached USD 109.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 158.3 Billion by 2033, exhibiting a growth rate (CAGR) of 4.13% from 2025-2033.

This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.

Download a sample PDF of this report: https://www.imarcgroup.com/industrial-gases-market/requestsample

Our report includes:

● Market Dynamics
● Market Trends and Market Outlook
● Competitive Analysis
● Industry Segmentation
● Strategic Recommendations

Growth Factors in the Industrial Gases Market

● Expanding Semiconductor and Electronics Manufacturing

The rapid, global increase in the production of semiconductors and high-performance electronics is a critical growth engine for the industrial gases market. Gases such as ultra-high purity nitrogen, argon, and various specialty gases are indispensable for cleaning, etching, and deposition processes in wafer fabrication. As the world transitions toward advanced technologies like Artificial Intelligence (AI), 5G, and the Internet of Things (IoT), the demand for these ultra-pure gases scales directly with the construction and operation of new, massive fabrication plants, or "fabs." The launch of Production Linked Incentive (PLI) schemes and similar government programs in Asia-Pacific and North America, designed to boost local chip manufacturing capacity, directly necessitates large, on-site industrial gas supply contracts for major producers like Linde and Air Liquide, underpinning a powerful structural demand for the sector's offerings.

● Global Green Hydrogen and Decarbonization Initiatives

The worldwide push toward decarbonization is making hydrogen a pivotal growth vector for the industrial gases sector. Hydrogen, both conventional and the increasingly in-demand green hydrogen (produced via electrolysis using renewable electricity), is a core product for industrial gas companies. Governments are increasingly supporting its development; for example, a major government in Asia-Pacific launched a National Green Hydrogen Mission with a multi-billion dollar budget to establish the country as a global hub for its production and export. This governmental backing drives massive projects for industrial gas suppliers to build, own, and operate new electrolysis-fed facilities. Hydrogen is also crucial for low-carbon steel production and for hydrotreating processes in refining, solidifying its role in the global energy transition and ensuring sustained growth in production capacity.

● Rising Demand in Healthcare and Medical Applications

The sustained expansion of the global healthcare sector, particularly for medical-grade gases, is a non-cyclical driver of industrial gas market growth. Oxygen, for instance, is vital for respiratory therapy, emergency care, and surgical procedures, with demand showing sustained high levels post-pandemic. Furthermore, gases like liquid nitrogen are essential for cryogenic preservation of biological samples, stem cells, and pharmaceuticals, including advanced therapies. As an example of company activity, a leading industrial gas company recently announced a contract with a consortium of 20 hospitals across Europe to reduce the carbon footprint of its oxygen and nitrogen supply. The increasing prevalence of chronic respiratory diseases, coupled with growing healthcare access and infrastructure development in emerging economies, guarantees a consistently rising requirement for these life-saving and process-critical medical gases.

Key Trends in the Industrial Gases Market

● Digitalization and Smart Gas Management

The industrial gases market is rapidly adopting digitalization and smart technologies to optimize supply chain efficiency and enhance service delivery. This trend involves the use of IoT-enabled sensors installed on storage tanks and cylinders, which provide real-time data on gas levels, pressure, and usage rates. Major providers are leveraging AI-driven analytics to predict customer demand, automate inventory management, and schedule refilling in the most cost-effective and energy-efficient manner. For example, some companies are implementing cloud-based telemetric systems that monitor thousands of customer tanks daily, automatically triggering bulk delivery orders. This innovation minimizes emergency deliveries, reduces transportation fuel consumption, and offers customers a seamless, never-run-out gas supply service.

● Shift to On-Site and Modular Gas Generation

There is an accelerating trend toward industrial customers adopting on-site gas generation systems, moving away from a reliance on bulk liquid delivery. Technologies like Pressure Swing Adsorption (PSA) and membrane-based separation units are becoming more cost-effective and modular. For industrial facilities with high and continuous demand, such as steel mills, chemical plants, and food processors, installing a dedicated Air Separation Unit (ASU) or nitrogen generator offers significant benefits. In one major development, a prominent industrial gas company recently secured over 50 new long-term agreements to build, own, and operate small on-site plants for customers across multiple continents. This approach ensures an uninterrupted gas supply, eliminates the logistics and safety risks of over-the-road cryogenic transport, and allows for greater customization of gas purity and flow rate.

● Expansion of Carbon Capture, Utilization, and Storage (CCUS)

The deployment of Carbon Capture, Utilization, and Storage (CCUS) technologies is emerging as a critical commercial trend, transforming carbon dioxide from a waste product into a valuable industrial gas. Industrial gas companies are playing a central role by providing the technology, transport, and storage for captured CO2. A prime example is the growing application of CO2 for Enhanced Oil Recovery (EOR), where the captured gas is injected into oil reservoirs. Furthermore, the utilization aspect is expanding, such as using recycled CO2 in greenhouses for crop enrichment to boost yields in controlled-environment agriculture. This trend is creating entirely new revenue streams, as companies invest heavily in infrastructure like specialized compression and pipeline systems to manage multi-million metric ton volumes of captured CO2, directly supporting global climate action goals.

Ask analyst of customized report: https://www.imarcgroup.com/request?type=report&id=827&flag=E

Leading Companies Operating in the Industrial Gases Industry:

● Air Liquide S.A.
● Linde Group
● Air Products and Chemicals, Inc.
● Airgas, Inc.

Industrial Gases Market Report Segmentation:

By Type:

● Nitrogen
● Oxygen
● Carbon Dioxide
● Argon
● Hydrogen
● Others

Nitrogen dominates the market due to its versatile applications in preservation and purging, safety advantages, and ongoing production technology advancements enhancing purity levels.

By Application:

● Manufacturing
● Metallurgy
● Energy
● Chemicals
● Healthcare
● Others

Manufacturing leads the segment as industrial gases are essential for welding, cutting, and process optimization across multiple production industries.

By Supply Mode:

● Packaged
● Bulk
● On-site

Packaged gases hold significant share owing to their portability, convenience, and wide usage across diverse industrial and healthcare applications.

Regional Insights:

● North America (United States, Canada)
● Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
● Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
● Latin America (Brazil, Mexico, Others)
● Middle East and Africa

Asia Pacific accounts for the largest share, driven by rapid industrialization, manufacturing growth, and expanding healthcare infrastructure across emerging economies.

Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.

About Us:

IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-201971-6302

This release was published on openPR.