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Global Industrial Gases Market is Expected to Represent US$ 114.5 Bn by 2025
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Global Industrial Gases Market: Forecast
According to Persistence Market Research analysis, the global industrial gases market is estimated to be valued at US$ 63.2 Bn in 2017 and this is projected to increase to US$ 114.5 Bn by the end of 2025, witnessing a CAGR of 7.7%. In terms of volume, the global industrial gases market is estimated to be pegged at 467,865 KT in 2017 and this is expected to increase to 829,441.6 KT by the end of 2025, registering a CAGR of 7.4%.
Global Industrial Gases Market: Forecast by Gas Type
The global industrial gases market is segmented on the basis of gas type into Oxygen, Nitrogen, Helium, Acetylene, Argon, Hydrogen, and Carbon Dioxide. Oxygen is the largest segment in this category, estimated to hold more than 55% market share by the end of the forecast period in 2025. In terms of value, the Oxygen segment is anticipated to cross US$ 64 Bn by 2025 end, registering a CAGR of 8.3% during the forecast period. However, the Carbon Dioxide segment is expected to register the highest value CAGR of 8.4% over the period of forecast. Oxygen is the most consumed gas in the industry and is present in the main streamline of various industries, primarily steel manufacturing and the healthcare / medical sector. Steel manufacturers use oxygen to improve the furnace performance by enrichment of furnace air; while in the medical sector, oxygen is used in different stages of treatment and in medical devices.
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Global Industrial Gases Market: Forecast by Application
The global industrial gases market is segmented on the basis of application into Metal Manufacturing and Fabrication, Healthcare, Automotive & Aerospace, Electronics, Energy, Oil & Gas, Food & Beverages, Pulp & Paper, Chemicals, Pharmaceutical & Biotechnology, and Other Industrial. Metal Manufacturing and Fabrication is the leading segment in the global industrial gases market by application, with an estimated revenue of more than US$ 28 Bn in 2017. This segment is anticipated to witness 2.3X growth between 2017 and 2025. The Chemicals segment stands at second position with an estimated US$ 10 Bn in revenues by the end of 2017. In terms of Y-o-Y growth, the Food & Beverage and Metal Manufacturing and Fabrication segments are expected to register high growth rates throughout the forecast period.
Global Industrial Gases Market: Regional Analysis
Persistence Market Research tracks the performance of the global industrial gases market across the key geographies of North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America is the undisputed leader in the global industrial gases market, with an estimated market share of about 35% by the end of the forecast period. APAC stands a close second, with an anticipated 33% value share by the end of 2025. North America will witness an increase of 50 basis points in market share while APAC will witness a rise of 70 BPS in 2025 over 2017. Huge investments in infrastructural projects in Asia Pacific coupled with the rapid industrial growth across various sectors in Asia Pacific & North America are expected to fuel the demand for industrial gases in these particular regions on a large scale, which is expected to drive growth of the global industrial gases market.
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Global Industrial Gases Market: Vendor Landscape
The report profiles some of the leading companies operating in the global industrial gases market such as Air Liquide S.A., Air Gass and Chemicals Inc., The Linde Group, Praxair Inc., Ellenbarrie Industrial Gases Ltd., India Glycols Ltd., The Southern Gas Ltd., Bhuruka Gases Ltd., Tripti Gases Pvt. Limited, SICGIL India Limited, Matheson Tri-Gas, Inc., Messer Group GmbH, Southern Industrial Gas Sdn Bhd, Abdullah Hashim Industrial Gases & Equipment Co. Ltd, Bristol Gases – Concorde Corodex Group, Buzwair Industrial Gases Factory, Dubai Industrial Gases, Gulf Cryo, Mohsin Haider Darwish LLC, National Industrial Gas Plants - Mohammed Hamad Al Mana Group, and Yateem Oxygen.
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