The Industrial Gases Market Report is Segmented by Product Type (Nitrogen, Oxygen, Carbon Dioxide, and More), Mode of Supply (Packaged/Cylinder, Merchant Bulk Liquid, and More), End-User Industry (Chemical Processing and Refining, Electronics and Semiconductor, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Volume (tons).

This statistic displays the global market share of industrial gases, by company, in 2020. In that year, the French company Air Liquide accounted for a ** percent share of the global industrial gases market, whereas Linde accounted for ** percent.

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.)

In 2022, the global market for industrial gas was valued at 96.52 billion U.S. dollars. This market value is expected to see a substantial increase, with projections reaching 167.26 billion U.S. dollars by 2030 across all applications.

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

Industrial Gases Market size is expected to be worth around USD 254.8 Bn by 2034, from USD 112.7 Bn in 2024, growing at a CAGR of 8.5%.

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.

The Asia-Pacific Industrial Gases Market report segments the industry into By Product Type (Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Helium, Argon, and more), By End-User Industry (Chemical Processing and Refining, Electronics, Food and Beverage, Oil and Gas, Metal Manufacturing and Fabrication, and more), and By Geography (China, India, and more).

The global market for industrial gases should grow from $75.3 billion in 2018 to reach $89.6 billion by 2023, growing at a compound annual growth rate (CAGR) of 3.5% during the forecast period of 2018-2023.

Industrial gases have become an integral part of many industries, as it’s use spans from cooling and food preservation to energy and lighting conservation. As the market extends its size in the year 2024, the market is expected to accumulate US$ 74.94 billion by the year-end.

Category-wise Industrial Gas Market Analysis

Global Industrial Gas Market Demand Analysis by Country

This statistic shows the estimated market size of industrial gases worldwide from 2012 to 2022, by application. It is estimated that the market size of industrial gases used in the automobile industry in 2016 was **** billion U.S. dollars worldwide, and is forecasted to increase to **** billion U.S. dollars in 2022.

The Middle-East Industrial Gases Market report segments the industry into Product Type (Nitrogen, Oxygen, Carbon Dioxide, and more), End-User Industry (Chemical Processing and Refining, Electronics, and more), and Geography (Saudi Arabia, United Arab Emirates, and more).

This statistic shows the market share of industrial gases used by the glass industry worldwide in 2016, by gas type. At that time, nitrogen accounted for a **** percent share of the industrial gases used by the global glass industry.

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Industrial Gases Market Size 2025-2029

The industrial gases market size is forecast to increase by USD 31.1 billion at a CAGR of 5.7% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing demand for industrial gases in various end-use industries such as healthcare, manufacturing, and energy. Facility expansion strategies by key players in the market are a major driver, as they seek to meet the rising demand and expand their customer base. However, this growth comes with challenges. Criticalities in industrial gas regulators, distribution, and gas detection equipment and handling systems are pushing market players to invest in advanced technologies to ensure safety and efficiency. Furthermore, the market is witnessing an increasing number of mergers and acquisitions among market players, leading to intense competition and potential price wars.
Companies must navigate these challenges effectively to capitalize on the market opportunities and maintain a competitive edge. Strategic partnerships, innovation, and operational excellence will be crucial for success in this dynamic market.

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

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The market continues to evolve, driven by the dynamic interplay of various sectors and market forces. Metal fabrication relies on gas handling for precision processes, while air separation and cryogenic processes are integral to numerous industries. The unfolding of climate change and renewable energy trends necessitate low carbon footprint solutions, leading to increased demand for specialty gases and membrane separation. Regulatory compliance, bulk gas supply, and gas distribution are key concerns for businesses, necessitating quality assurance and gas monitoring. On-site generation and gas purification offer cost optimization, while gas standards ensure consistency and safety. Gas flow, gas temperature, and energy efficiency are paramount in chemical processing.
The evolving landscape encompasses gas regulation, gas storage, and gas certification. Carbon dioxide and greenhouse gases are subject to emissions control, while food and beverage, medical gases, and research and development applications continue to expand. Industry regulations and safety standards remain crucial, with gas safety a top priority. The market's continuous evolution reflects the integration of gas handling, pressure, purity, and regulatory compliance in various applications, from energy and manufacturing to healthcare and research.

How is this Industrial Gases Industry 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-user

  Manufacturing
  Chemical processing
  Metal fabrication
  Energy
  Others


Type

  Hydrogen
  Oxygen
  Nitrogen
  Carbon dioxide
  Others


Application

  Manufacturing
  Healthcare
  Food and Beverage
  Metallurgy


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest 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. Oxygen, nitrogen, hydrogen, and carbon dioxide are among the essential industrial gases used in processes such as welding, cutting, brazing, heat treating, purging, and annealing. In the automotive industry, these gases are utilized in automobile parts manufacturing, body manufacturing, and repairing. The aerospace sector relies on industrial gases for aircraft manufacturing, engine production, and maintenance. In the shipbuilding industry, they are used for welding, cutting, and other processes to construct ships.

Gas handling, pressure, purity, and regulatory compliance are crucial factors in the industrial gas market. Bulk gas supply and distribution ensure uninterrupted gas supply to industries. Quality assurance and gas monitoring systems ensure the consistent delivery of high-purity gases. On-site generation and gas purification enable industries to produce their gases, reducing dependence on external sources. Cost optimization is a significant concern, leading to the adoption of energy-efficient technologies and the use of low-carbon footprint gases. Specialty gases find extensive applications in metal fabrication, air separation, and cryogenic processes. Climate change and renewab

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.

Global Industrial Gas Market is anticipated to experience remarkable expansion, with a projected Compound Annual Growth Rate (CAGR) of 8.09% from 2024 to 2032. According to the market analysis, the market size is forecasted to reach USD 229.85 Billion by the end of 2032, up from USD 114.12 Billion in 2023.

INDUSTRIAL GAS MARKET SIZE AND FORECAST 2024 TO 2032

The industrial gases market encompas

The industrial gases market reached around USD 97.57 Billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 6.80% between 2025 and 2034, reaching nearly USD 188.38 Billion by 2034. Growth is primarily driven by rising demand in the manufacturing industry and rapid industrialization across developing economies. The Asia Pacific region is expected to dominate the market, supported by expanding infrastructure and increasing application of industrial gases in sectors such as mining, metals, food & beverage, and healthcare. Moreover, stricter environmental regulations, growing focus on safety, and concerns around gas conversion costs continue to shape the market dynamics. Overall, the industrial gases market remains vital for global industrial and economic progress.

Global Industrial Gas market size is expected to reach $308.83 billion by 2029 at 12.9%, segmented as by type, nitrogen, oxygen, carbon dioxide, hydrogen, other industrial gas

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 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 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.