Market Trend Insights: The Impact of Recent Advances on the Industrial Gas Market

The industrial gas sector is poised for substantial expansion over the coming years, driven by rising demand across various industries and technological advancements. With increasing applications in emerging fields and ongoing investments in infrastructure, the market is set to experience robust growth through 2030. Here is an in-depth look at the current market outlook, key players, trends, and segmentation.

Forecasted Market Size and Growth Trajectory for the Industrial Gas Market
The industrial gas market is projected to grow swiftly, reaching a value of $231.72 billion by 2030. This increase corresponds to a compound annual growth rate (CAGR) of 10.2%. The accelerating expansion during the forecast period is linked to several factors, including the rising use of industrial gases in electric vehicle manufacturing, growing demand for high-purity gases in the electronics sector, and the broadening scope of clean energy and hydrogen applications. Additionally, increasing investments in gas distribution infrastructure and a heightened focus on specialty gas solutions are playing significant roles. Key trends shaping the market include a surge in demand for both bulk and specialty gases, a strong uptake in semiconductor and electronics production, growth in medical and healthcare gas applications, increased use in metal fabrication and welding, along with intensified attention to gas purity and safety standards.

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Prominent Players Leading the Industrial Gas Market
A number of leading companies dominate the industrial gas industry globally. These include Asia Technical Gas Co. Pte. Ltd., Universal Industrial Gases Inc., Linde GmbH, Air Liquide S.A.S., Air Products and Chemicals Inc., Showa Denko K.K., Taiyo Nippon Sanso & Co. Ltd., Air Water Inc., Airgas Inc., Iwatani Corporation, Messer Group GmbH, Matheson Tri-Gas Inc., SOL S.p.A., Nippon Gases, Ellenbarrie Industrial Gases, Yingde Gases Group Co. Ltd., SIAD Group, Gulf Cryo, nexAir LLC, Sapio Group, PT Samator Indo Gas Tbk, SIG Gases Berhad, Gases Plus, and Bhuruka Gases Limited.

Recent Strategic Moves in the Industrial Gas Industry
In a notable development in September 2023, Air Water America Inc., a US-based provider of industrial gases, acquired American Gas Products LLC for an undisclosed sum. This acquisition aims to strengthen Air Water America Inc.'s footprint in the North American market by integrating regional distribution networks and enhancing investments in air separation technologies. American Gas Products LLC is also a US-based supplier specializing in industrial gases, and this move is expected to bolster operational capabilities and market reach.

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Innovations and Technological Trends Energizing the Industrial Gas Market
Industrial gas companies are focusing on innovative solutions, particularly incorporating Internet of Things (IoT) technologies to improve monitoring, safety, and operational efficiency throughout the gas production, storage, and distribution process. IoT-enabled systems provide real-time data on gas levels, pressure, and environmental factors, which allows for better resource management and quick detection of leaks or irregularities. For example, in April 2023, Germany-based multinational Linde launched the Hexagon Ragasco Linktra Smart cylinder. This smart cylinder integrates IoT technology to connect with users' mobile devices, enabling real-time monitoring of gas levels and push notifications for cylinder refills, enhancing both convenience and safety. Furthermore, this system offers liquid petroleum gas (LPG) distributors valuable insights into consumer usa*ge patterns, facilitating optimized logistics and ensuring timely availability of cylinders. Access to real-time data helps distributors efficiently manage inventory and supply.

How the Industrial Gas Market Is Structured and Categorized
The industrial gas market is divided into several segments for a comprehensive understanding of the industry:

1) By Type of Gas:
- Nitrogen
- Oxygen
- Carbon Dioxide
- Hydrogen
- Other Industrial Gases

2) By Mode of Supply:
- Bulk
- Packaging
- Pipeline

3) By Packaging Formats:
- Cylinders
- Bottles
- Canisters
- Cartridges
- Cryogenic Tanks or Vessels
- Other Packaging

4) By End-User Industry:
- Chemicals
- Metallurgy
- Manufacturing
- Food and Beverage
- Healthcare
- Other End-User Industries

Further breakdowns include:
- Nitrogen: Liquid Nitrogen and Gaseous Nitrogen
- Oxygen: Liquid Oxygen and Gaseous Oxygen
- Carbon Dioxide: Liquid and Gaseous Carbon Dioxide
- Hydrogen: Gaseous and Liquid Hydrogen
- Other Industrial Gases: Argon, Acetylene, Helium, Neon, and other specialty gases

This segmentation offers a detailed perspective on how the market caters to diverse industrial needs and supports various applications.

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This release was published on openPR.