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).

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.

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 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.

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 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.

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).

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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.

The Industrial Gases market was valued at USD 116.07 Billion in 2024 and is expected to reach USD 178.14 Billion by 2030 with a CAGR of 7.40%.

Global Industrial Gases market size is expected to reach $145.49 billion by 2029 at 7%, industrial gases play vital role in the expanding oil and gas industry

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 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).

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

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 Market is predicted to have a value of USD 286.3 Billion By 2034, with an annualized growth rate (CAGR) of 11.00% during the forecast period

The North America industrial gases market reached USD 25.35 Billion in 2024. The market is expected to grow at a CAGR of 6.50% between 2025 and 2034, reaching almost USD 47.59 Billion by 2034.

[230+ Pages Report] Global industrial gases market size & share are predicted to reach USD 130 Billion by 2026, with a CAGR of roughly 5.2% between 2021 and 2026.

The industrial gas industry provides various gases for different applications. In 2022, the industry was worth ***** billion U.S. dollars, and it was expected to grow substantially in the next decade. The largest contributing application of industrial gas in 2022 was metallurgy and glass, which accounted for ***** billion U.S. dollars. This application involved the use of industrial gas for processes such as metal smelting, welding, cutting, and glass manufacturing.

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

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.)