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 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.)

United States industrial gas market is valued at USD 27 billion, driven by demand in manufacturing, healthcare, and energy sectors with growth in clean energy solutions like hydrogen.

United States Industrial Gas Market size was valued at USD 26.91 Billion in 2024 and is projected to reach USD 30.98 Billion by 2032, growing at a CAGR of 3.79% during the forecasted period 2026 to 2032.United States Industrial Gas Market DriversRising Demand from the Healthcare Sector: The vital role of medical gases is a primary driver for the US industrial gas market. Medical-grade oxygen, nitrogen, and carbon dioxide are essential lifelines in an expanding healthcare infrastructure, from hospital operating rooms and intensive care units to long-term home health services.Expansion of the Manufacturing and Industrial Sector: Growth in the broader manufacturing and industrial sector is a foundational pillar supporting the US market. Gases like Oxygen, Argon, and Acetylene are non-negotiable for high-efficiency metal fabrication, welding, and cutting processes used in infrastructure, automotive, and construction. In chemical processing, gases serve as critical reactants, inerting agents, and purifiers.

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.

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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?

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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 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.

In 2022, the North American market for industrial gas was valued at ***** billion U.S. dollars. This market value is expected to see a substantial increase, with projections of it reaching ***** billion U.S. dollars by 2030.

Additional information on the global Industrial Gas Market can be found here.

The size of the U.S. Industrial Gases Market market was valued at USD 79.66 billion in 2023 and is projected to reach USD 125.43 billion by 2032, with an expected CAGR of 6.7 % during the forecast period.

The US industrial gas market, a significant segment of the global industry, is characterized by steady growth driven by increasing demand across diverse sectors. With a global CAGR of 3.79%, the US market likely mirrors this trend, albeit potentially with slight variations due to regional economic factors and specific industry concentrations. Key drivers include the expansion of energy and power generation (particularly renewable energy initiatives requiring specialized gases), the robust petrochemical and chemical manufacturing sectors, and the ongoing growth of the medical and pharmaceutical industries. Technological advancements in gas production and delivery systems, along with a focus on energy efficiency and sustainability, further contribute to market expansion. However, challenges such as fluctuating raw material prices and environmental regulations related to emissions and gas handling pose potential restraints. Within the US market, oxygen, nitrogen, and argon remain dominant product types, serving the aforementioned sectors. However, increasing demand for specialty gases like hydrogen and helium, driven by emerging technologies in fuel cells and advanced materials, is creating lucrative niche markets. The oil and gas industry remains a key end-user, utilizing industrial gases for various processes like enhanced oil recovery and pipeline maintenance. However, growing sectors such as medical and pharmaceutical, fueled by an aging population and advancements in healthcare technologies, are expected to experience particularly high growth rates within the forecast period. Leading players in the US market include Air Liquide, Air Products and Chemicals Inc., and Linde PLC, among others, engaging in competitive strategies focusing on innovation, capacity expansion, and strategic acquisitions to maintain market share. The geographic distribution of market activity is likely concentrated in industrial hubs across the country, with potential regional variations in growth based on specific industry concentrations. 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: Increasing Demand from the Healthcare Sector, Increasing Demand for Frozen and Stored Food; Growing Need for Alternate Energy Sources. Notable trends are: Resilient Demand from the Healthcare Industry.

US Industrial Gases Market growth is driven by the increasing demand for industrial gases across various industries and the rising focus on sustainability and clean energy solutions.

The total global market value of industrial gases amounted to some **** billion U.S. dollars in 2024. It is forecast that the market value will increase to **** billion U.S. dollars worldwide in 2029.

The United States industrial gas market is expected to grow at over 4.88% CAGR from 2024 to 2029, driven by expanding applications in manufacturing, healthcare, and energy sectors.

The global industrial gases market is booming, projected to reach over $150 billion by 2033 with a CAGR of 5.92%. Discover key trends, leading companies like Air Liquide and Linde, and regional market breakdowns in this comprehensive analysis. Learn about growth drivers, restraints, and future opportunities in the manufacturing, chemical, and energy sectors.

Discover the booming industrial gas market analysis for 2025-2033! Explore key trends, drivers, restraints, and regional insights impacting nitrogen, oxygen, argon, and other industrial gases. Learn about top players like Air Liquide & Linde. Invest wisely with our comprehensive market report. 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: Growing Need for Alternate Energy Sources, Increasing Demand For Frozen and Stored Food; Increasing Demand from the Healthcare Sector. Notable trends are: Increasing Demand from the Medical and Pharmaceutical Sector.

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.

Industrial Gases Market Outlook

According to our latest research, the global industrial gases market size reached USD 110.4 billion in 2024, reflecting a robust industry driven by diverse end-use sectors. The market is experiencing a steady growth trajectory, with a CAGR of 6.1% projected from 2025 to 2033. This growth is expected to push the market to USD 187.2 billion by 2033. The expansion is primarily attributed to the rising demand in manufacturing, healthcare, and electronics, alongside the increasing adoption of advanced gas applications in emerging economies.

One of the primary growth drivers for the industrial gases market is the rapid expansion of the manufacturing sector globally. As industrialization accelerates in both developed and developing regions, the need for various industrial gases such as oxygen, nitrogen, and hydrogen has surged. These gases are essential for processes like welding, cutting, chemical synthesis, and metal fabrication. The shift towards automation and smart manufacturing, especially in Asia Pacific and North America, is further fueling market demand. Additionally, the growing focus on energy efficiency and sustainability is compelling manufacturers to adopt industrial gases that enable cleaner and more efficient production processes.

Another significant factor propelling the industrial gases market is the exponential growth in the healthcare and medical sector. Medical-grade gases such as oxygen, nitrous oxide, and medical air are indispensable in hospitals, clinics, and home healthcare settings. The COVID-19 pandemic underscored the critical importance of medical oxygen, leading to substantial investments in gas production and distribution infrastructure. Furthermore, the rising prevalence of chronic diseases, advancements in surgical procedures, and the expansion of healthcare infrastructure in emerging markets are expected to sustain high demand for medical gases over the forecast period.

Technological advancements and the increasing adoption of industrial gases in high-growth sectors like electronics and food & beverage are also key contributors to market expansion. In the electronics industry, ultra-high purity gases are vital for semiconductor manufacturing, display production, and photovoltaic cell fabrication. Similarly, in the food & beverage sector, gases such as carbon dioxide and nitrogen are extensively used for packaging, carbonation, and preservation. The trend towards ready-to-eat and convenience foods is further amplifying the need for food-grade gases, thereby supporting market growth.

Regionally, Asia Pacific dominates the industrial gases market, accounting for the largest share in 2024, followed by North America and Europe. The region’s leadership is driven by rapid industrialization, expanding healthcare infrastructure, and significant investments in electronics manufacturing, particularly in China, India, Japan, and South Korea. North America and Europe are also witnessing steady growth, supported by technological innovation and stringent environmental regulations that encourage the use of industrial gases for cleaner industrial processes. Latin America and the Middle East & Africa, while smaller in market share, are projected to experience above-average growth rates due to increasing industrial activities and investments in energy and healthcare sectors.

Type Analysis

The industrial gases market by type is segmented into oxygen, nitrogen, hydrogen, carbon dioxide, argon, helium, and others. Oxygen remains the most widely used industrial gas, accounting for a significant portion of the market due to its critical role in steel manufacturing, medical applications, and wastewater treatment. The demand for oxygen is further bolstered by its use in chemical synthesis and combustion processes across various industries. Nitrogen, another major segment, is highly sought after for its inert properties, making it essential for food preservation, electronics manufacturing, and chemical processing. The increasing adoption of modified atmosphere packaging in the food industry and the expanding electronics sector are key factors driving the nitrogen market.

Hydrogen is gaining substantial traction as industries transition towards cleaner energy solutions. The growing emphasis on hydrogen as a fuel for fuel cells, particularly in the automotive and energy sectors, is expected to result in significant market growth. Hydrogen’s application i

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 United States industrial gas market was valued at USD 26.31 Billion in 2024. The industry is expected to grow at a CAGR of 7.10% during the forecast period of 2025-2034 to attain a valuation of USD 52.24 Billion by 2034.

This statistic shows the market revenue of industrial gases worldwide in 2016, with forecasted figures for 2017 to 2024. In 2016, the total global market revenue of industrial gases amounted to some ** billion U.S. dollars, and is forecasted to be ** billion U.S. dollars in 2024.