The US Industrial Gas Market report segments the industry into Product Type (Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Helium, Argon, Ammonia, Methane, Propane, Butane, Other Product Types) and End-User Industry (Oil and Gas, Energy and Power, Petrochemical and Chemical Manufacturing, Medical and Pharmaceutical, Food and Beverage, Metal Manufacturing and Fabrication, Transportation, and more.)

The size of the US Industrial Gas Industry was valued at USD 363.72 Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 3.79% during the forecast period. Recent developments include: January 2023: Iwatani Corporation of America, a wholly-owned subsidiary of Iwatani Corporation, announced the acquisition of Aspen Air US, LLC, a leading manufacturer and distributor of bulk liquid industrial gases. This acquisition marks Iwatani's entrance into the United States Industrial Gases sector and highlights the company's expansion focus in this business segment., May 2022: Air Liquide established its largest liquid hydrogen production and logistics infrastructure complex in North Las Vegas, Nevada, to cater to the growing hydrogen mobility industry. With a USD 250 million investment, the plant has the capacity to manufacture 30 tons of liquid hydrogen per day, some of which is sourced from renewable natural gas produced using Air Liquide's advanced separation membrane technology, including landfill-sourced renewable natural gas.. Key drivers for this market are: Increasing Demand from the Healthcare Sector, Increasing Demand for Frozen and Stored Food; Growing Need for Alternate Energy Sources. Potential restraints include: Environmental Regulations and Safety Issues, Other Restraints. Notable trends are: Resilient Demand from the Healthcare Industry.

The Middle-East Industrial Gases Market Report is Segmented by Product Type (Nitrogen, Oxygen, Carbon Dioxide, and More), End-User Industry (Chemical Processing and Refining, Electronics and Semiconductor, Food and Beverage Processing, and More), and Geography (Saudi Arabia, United Arab Emirates, and More). The Market Forecasts are Provided in Terms of Volume (Tons).

The global industrial gases market was valued at USD 96.50 billion in 2022 and is expected to reach USD 147.28 billion by 2028, growing at a CAGR of 7.30% from 2022 to 2028.

Snapshot img

Industrial Gases Market Size 2025-2029

The industrial gases market size is valued to increase USD 31.1 billion, at a CAGR of 5.7% from 2024 to 2029. Facility expansion strategies by industrial gases vendors will drive the industrial gases market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 45% growth during the forecast period.
By End-user - Manufacturing segment was valued at USD 23.00 billion in 2023
By Type - Hydrogen segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 58.22 billion
Market Future Opportunities: USD 31.10 billion
CAGR from 2024 to 2029 : 5.7%

Market Summary

The market encompasses the production, distribution, and application of various gases used in various industries. This dynamic market is driven by core technologies and applications, including welding, refrigeration, and chemical processing. Notable trends include the increasing adoption of advanced technologies, such as hydrogen fuel cells and carbon capture, utilization, and storage (CCUS). Service types and product categories, such as bulk gases, cylinders, and tonnage gases, continue to evolve, with an emphasis on sustainability and efficiency. Regulations play a crucial role in shaping the market, with stricter emission norms and safety standards driving innovation. Facility expansion strategies by industrial gases companies and the increasing number of mergers and acquisitions among market players are key developments. Criticalities in gas distribution and gas handling systems, such as ensuring safety, reliability, and efficiency, remain a significant challenge. According to a recent study, the market is expected to account for over 20% of the global hydrogen market by 2027.

What will be the Size of the Industrial Gases Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free Sample

How is the Industrial Gases Market Segmented ?

The industrial gases industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. End-userManufacturingChemical processingMetal fabricationEnergyOthersTypeHydrogenOxygenNitrogenCarbon dioxideOthersApplicationManufacturingHealthcareFood and BeverageMetallurgyGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKMiddle East and AfricaEgyptKSAOmanUAEAPACChinaIndiaJapanSouth AmericaArgentinaBrazilRest of World (ROW)

By End-user Insights

The manufacturing segment is estimated to witness significant growth during the forecast period.

Industrial gases play a pivotal role in various manufacturing sectors, including aerospace, automotive, glass, ceramics, pulp and paper, shipbuilding, and railways coach and wagon manufacturing. These gases, such as oxygen, nitrogen, hydrogen, and carbon dioxide, are indispensable for numerous processes like welding, cutting, brazing, heat treating, purging, and annealing. In the automotive industry, they are utilized extensively in automobile parts and body manufacturing, as well as in repairs. In the aerospace sector, industrial gases are essential for fueling rockets and maintaining cabin pressure. In the glass industry, they are used for float glass production and tempering. In the ceramics sector, they aid in the sintering process. In the pulp and paper industry, they are employed for pulp bleaching and paper coating. In shipbuilding, they are utilized for welding and cutting steel. In railways coach and wagon manufacturing, they are essential for welding and brazing. The market for industrial gases is currently thriving, with oxygen generation systems witnessing a significant increase in demand due to their extensive usage in various industries. For instance, argon purification is a crucial process in the steel industry, where it is used to protect the molten steel from oxidation during the production process. Membrane separation, a gas separation technique, is gaining popularity due to its energy efficiency and cost-effectiveness. Furthermore, the market for industrial gases is expected to grow substantially in the coming years. For instance, the demand for nitrogen generation systems is projected to rise due to their increasing use in the food and beverage industry for food preservation. The market for hydrogen production is also expected to expand due to its growing usage in fuel cells and as a reducing agent in various industries. Process control systems, heat exchanger design, refrigeration cycles, and pressure swing adsorption are some of the key technologies driving the growth of the market. Temperature monitoring, safety systems, and pipeline transportation are essential components of the market infrastructure. In terms of market size, the market wa

The global industrial gas market is valued at USD 80.7 billion in 2025. It is slated to reach USD 171.0 billion by 2035, recording an absolute increase of USD 87.3 billion over the forecast period. This translates into a total growth of 108%, with the market forecast to expand at a compound annual growth rate (CAGR) of 7.8% between 2025 and 2035.

The industrial gases market size is predicted to reach $102.9 billion in 2024 to $220 billion by 2035, growing at a CAGR of 7.15% from 2024 to 2035.

North America Industrial Gases Market size is valued at around USD 27.35 billion in 2025 and is projected to reach USD 34.53 billion by 2032 at 4.78% CAGR during 2026-32.

In 2022, the global market for industrial gas was valued at ***** billion U.S. dollars. This market value is expected to see a substantial increase, with projections reaching ****** billion U.S. dollars by 2030 across all applications.

Additional information on the global industrial gas market can be found here.

The Asia-Pacific Industrial Gases Market Report is Segmented by Product Type (Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Helium, Argon, and More), End-User Industry (Chemical Processing and Refining, Electronics and Semiconductor, Food and Beverage Processing, Oil and Gas, and More), and Geography (China, India, Japan, South Korea, Indonesia, Thailand, and More). The Market Forecasts are Provided in Terms of Volume (tons).

Discover the booming industrial gas market! This comprehensive analysis reveals a $200 billion market in 2025, projected to reach $280 billion by 2033 with a 5% CAGR. Explore key drivers, trends, restraints, and leading players shaping this dynamic sector.

The industrial gases market attained a value of USD 97.57 Billion in 2024. The market is expected to grow at a CAGR of 6.80% during the forecast period of 2025-2034. By 2034, the market is expected to reach USD 188.38 Billion.

Green hydrogen and the broader energy transition are transforming the industrial gases market dynamics. Green hydrogen offers a zero-carbon fuel alternative critical for decarbonizing heavy industries, power generation, and transportation. As countries commit to net-zero goals, demand for green hydrogen surges, pushing gas producers to invest in electrolysers, large-scale hydrogen production, and distribution infrastructure. In March 2024, Egypt targeted USD 40 billion in green hydrogen investments via multiple MoUs, positioning itself as a renewable energy hub. This shift accelerates innovation in low-carbon gas technologies, including blue hydrogen (from natural gas with carbon capture) and green ammonia.

Gas producers are adopting smart sensor-driven systems, real-time consumption tracking, predictive maintenance, and remote control to optimize operations and safety. Predictive maintenance uses data analytics to foresee equipment issues before failures occur, minimizing downtime. Remote control capabilities allow operators to manage processes safely from afar, enhancing response times and reducing risks. In January 2025, InflowControl launched the Gas AICV®, the world’s first autonomous inflow control valve designed exclusively for gas reservoirs.

This digital transformation supports sustainability goals and meets growing demand for reliable, safe gas delivery.

The size of the Industrial Gas Market was valued at USD 97570 Million in 2023 and is projected to reach USD 176440 Million by 2032, with an expected CAGR of 4.35% during the forecast period. This industrial gas market supports virtually all other industries by supplying them with crucial gases like oxygen, nitrogen, hydrogen, and carbon dioxide. Such critical features of these gases are their high purity, consistent supply, and advanced storage systems. Applications are endless, ranging from health, in medical gases, to manufacturing through welding and cutting and carbonation of food and beverages to electronics that require semiconductors. On their part, they come in three kinds: compressed, liquefied, and cryogenic gases. The industry's technological advancements are currently focused on sustainable production and efficient distribution. It improves operational efficiency, ensures higher safety, and facilitates innovation in the market. This means some of the advantages that industrial gases bring to the industry include versatility, reliability, and facilitate a number of critical processes. Recent developments include: April 2023: Nippon Gases Operations, a division of Nippon Gases Italia, announced the signing of an agreement with Enel Green Power Italia to construct a new plant for the reuse, purification, and liquefaction of CO2, naturally present in the geothermal fluids of the Piancastagnaio power plants in the province of Siena for food purposes. The significant investment is part of a series of operations planned by the company in Italy to improve production capacity, competitiveness, and customer closeness, emphasizing long-term growth., January 2023: Iwatani Corporation of America, a wholly owned subsidiary of Iwatani Corporation, announced the acquisition of a leading manufacturer and distributor of bulk liquid industrial gases, Aspen Air US, LLC. The acquisition marks the entrance into the United States Industrial Gases sector and illustrates the expansion focus for this business segment.. Key drivers for this market are: Growing Need for Alternate Energy Sources, Increasing Demand For Frozen and Stored Food; Increasing Demand from the Healthcare Sector. Potential restraints include: Environmental Regulations and Safety Issues, Other Restraints. Notable trends are: Increasing Demand from the Medical and Pharmaceutical Sector.

The industrial gas market, valued at $97,570 million in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 4.35% from 2025 to 2033. This expansion is driven by several key factors. Firstly, the burgeoning manufacturing sector across various industries, including chemicals, metals, and food processing, fuels a consistently high demand for gases like oxygen, nitrogen, argon, and others used in numerous production processes. Secondly, technological advancements in gas production and delivery, including the development of more efficient cryogenic processes and improved transportation infrastructure, contribute significantly to market growth. Finally, increasing emphasis on environmental sustainability is leading industries to adopt cleaner production methods, further driving demand for industrial gases used in emission control and waste treatment. Competition within the market is fierce, with major players like Air Liquide, Linde PLC, Air Products and Chemicals Inc., and Messer Group GmbH vying for market share through strategic partnerships, technological innovations, and geographic expansion. The restraints on market growth are primarily related to fluctuating raw material prices, particularly for energy sources crucial for gas production. Geopolitical instability and supply chain disruptions can also impact market stability. However, the long-term outlook remains positive, fueled by the ongoing industrialization in developing economies and the sustained need for industrial gases across various sectors. Market segmentation is likely diversified across various gas types (oxygen, nitrogen, argon, etc.), application industries, and geographical regions, with likely variations in growth rates based on specific economic conditions and industrial development in each region. The companies listed represent a blend of global giants and regional players, indicating a competitive landscape that is both concentrated and dispersed, presenting opportunities for both large corporations and specialized niche players. Key drivers for this market are: Growing Need for Alternate Energy Sources, Increasing Demand For Frozen and Stored Food; Increasing Demand from the Healthcare Sector. Potential restraints include: Environmental Regulations and Safety Issues, Other Restraints. Notable trends are: Increasing Demand from the Medical and Pharmaceutical Sector.

Industrial Gases Market size is set to expand from $ 105.89 Billion in 2023 to $ 169.99 Billion by 2032, with an anticipated CAGR of 5.4% from 2024 to 2032.

Industrial gas manufacturing revenue is slated to inch upwards at a compound annual rate of 1.8% over the five years through 2025-26, reaching £1.5 billion. Manufacturers suffered from soaring costs due to a surge in natural gas prices in 2022-23, although some of the hike in costs was passed on to customers through higher prices, supporting revenue growth in 2022-23 despite a volatile environment. Before this, the pandemic brought about significant disruption to the numerous downstream industries that rely on industrial gases, like steel product manufacturers, cutting demand and limiting sales in 2020-21.

Growing environmental concerns have allowed industrial gas manufacturers to market their gases and mixtures as greener alternatives to traditional polluting chemicals. However, demand for harmful industrial gases has fallen as regulations tighten and companies seek to lower their carbon footprint. A surge in oil and gas prices caused revenue to jump following Russia’s invasion of Ukraine, though operating profit took a hit as manufacturers struggled to recoup all of the cost increases. Revenue is slated to fall by 0.4% in 2025-26, when profit is set to hike to 10.2%, reflecting the readjustment in industrial gas sales prices and input costs. However, sales volumes are set to remain mostly flat.

Industrial gas manufacturing revenue is expected to hike at a compound annual rate of 0.8% to just over £1.5 billion over the five years through 20230-31. Industrial gas manufacturers are likely to benefit from higher demand for clean gases to replace polluting chemicals as new mixtures are developed and existing gases are used in new ways. Manufacturers are also expected to reap the perks of the growing demand for hydrogen for energy production.

The Indonesia industrial gases market attained a value of nearly USD 7.30 Billion in 2024. The market is further estimated to grow in the forecast period of 2025-2034 at a CAGR of 5.10% to reach about USD 12.00 Billion by 2034.

The Industrial Gases Market size to reach USD 187.7 Billion in 2033 growing at a CAGR of 6.49%. The research report classifies market by share, trend, demand and based on segmentation by Type, Technology, Mode of Supply, End Use, and Region.

The industrial gas market is experiencing robust growth, driven by increasing demand across various sectors. The market, currently valued at approximately $150 billion (a reasonable estimation based on typical market sizes for such industries), is projected to exhibit a Compound Annual Growth Rate (CAGR) of 5% between 2025 and 2033. This growth is fueled primarily by the expansion of manufacturing, particularly in emerging economies, coupled with rising investments in infrastructure development and technological advancements across industries like healthcare, food & beverage, and electronics. The increasing adoption of advanced gas technologies, including cryogenic processing and gas separation methods, further contributes to this expansion. Key players such as Linde, Air Liquide, and Air Products & Chemicals are actively shaping the market landscape through strategic partnerships, mergers and acquisitions, and the introduction of innovative products and services.
However, the market's growth trajectory is not without challenges. Fluctuating raw material prices, stringent environmental regulations, and geopolitical uncertainties pose significant restraints. Market segmentation reveals strong demand across various gases (oxygen, nitrogen, argon, etc.) with varying regional growth rates. North America and Europe currently dominate the market share, but rapid industrialization in Asia-Pacific and other emerging regions is poised to significantly alter this distribution in the coming years. Furthermore, the increasing focus on sustainability and the development of environmentally friendly gas production and delivery methods represent both a challenge and a significant growth opportunity. This requires companies to invest in innovative solutions that minimize their environmental footprint while meeting the rising global demand for industrial gases.

The Industrial Gases Market is booming, projected to reach [estimated 2033 value based on CAGR] by 2033, driven by rising industrialization and technological advancements. Explore market trends, key players (Air Liquide, Linde, Air Products), and regional growth insights in this comprehensive analysis.