The global industrial gases market reached a value of US$ 93.7 billion in 2021. Looking forward, the market is projected to reach US$ 129.1 billion by 2027, exhibiting a CAGR of 5.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.
Industrial gases refer to the gases produced in large quantities for usage in industrial processes. Depending on their application in different sectors, these gases are also known as fuel, medical, refrigerant, or specialty gases. Some of the industrial gases, such as oxygen and helium, provide a base for life support for artificially ventilated patients and modern anesthetic techniques. Hydrogen is used in the transportation industry and oxygen in gasification plants, hospitals and steel manufacturing plants. In addition, liquid helium is utilized in magnetic resonance imaging (MRI) equipment to cool down superconductive magnet coil scanners.
In recent years, technological innovations in the usage of various industrial gases have bolstered the growth of the market. For instance, liquid oxygen and hydrogen are being used in propellants to launch rockets that carry broadcast, communications and meteorological satellites into space. Apart from this, the leading companies are investing in research and development activities (R&D) to develop new and improved methods to produce and distribute industrial gases across the globe. Moreover, several international non-profit organizations, such as the European Industrial Gases Association, provide manufacturers with expert advice on the production, transport, storage and utilization of industrial gases. They also promote consistency of safety, health, environmental and technical standards throughout the industrial gas industry. However, the demand and production of industrial gases are being affected by the spread of the coronavirus disease (COVID-19), which has led to a slow-down in the commercial, transportation and industrial activities.
This report provides an analysis of the key trends in each sub-segment of the global industrial gases market, along with forecasts at the global and regional level from 2022-2027. The report has categorized the market based on type, application and supply mode.
On the basis of the type, nitrogen is the most popular type of industrial gas. It is extensively utilized in applications such as lasing gas mixture, petrochemicals for instrumentation, calibration gases and in both controlled and modified atmospheric packaging solutions.
Manufacturing applications currently account for the largest market share, as industrial gases are widely used in the medical, electronics, automotive, marine and textile industries.
Nowadays, packaged industrial gases dominate the market, accounting for the majority of the overall market share. They are available in a wide range of sizes, from small portable packages to large cylinders, which offer versatility, flexibility and mobility.
Region-wise, Asia Pacific holds the leading position in the market. This can be accredited to the growing population and advancements in the medical and healthcare, and food and beverage industries across the region.
The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are Air Liquide S.A., Linde Group, Praxair, Inc., Air Products and Chemicals, Inc. and Airgas, Inc.
2. What will be the global industrial gases market outlook during the forecast period (2022-2027)?
3. What are the global industrial gases market drivers?
4. What are the major trends in the global industrial gases market?
5. What is the impact of COVID-19 on the global industrial gases market?
6. What is the global industrial gases market breakup by type?
7. What is the global industrial gases market breakup by application?
8. What is the global industrial gases market breakup by supply mode?
9. What are the major regions in the global industrial gases market?
Industrial gases refer to the gases produced in large quantities for usage in industrial processes. Depending on their application in different sectors, these gases are also known as fuel, medical, refrigerant, or specialty gases. Some of the industrial gases, such as oxygen and helium, provide a base for life support for artificially ventilated patients and modern anesthetic techniques. Hydrogen is used in the transportation industry and oxygen in gasification plants, hospitals and steel manufacturing plants. In addition, liquid helium is utilized in magnetic resonance imaging (MRI) equipment to cool down superconductive magnet coil scanners.
Industrial Gases Market Trends
In recent years, technological innovations in the usage of various industrial gases have bolstered the growth of the market. For instance, liquid oxygen and hydrogen are being used in propellants to launch rockets that carry broadcast, communications and meteorological satellites into space. Apart from this, the leading companies are investing in research and development activities (R&D) to develop new and improved methods to produce and distribute industrial gases across the globe. Moreover, several international non-profit organizations, such as the European Industrial Gases Association, provide manufacturers with expert advice on the production, transport, storage and utilization of industrial gases. They also promote consistency of safety, health, environmental and technical standards throughout the industrial gas industry. However, the demand and production of industrial gases are being affected by the spread of the coronavirus disease (COVID-19), which has led to a slow-down in the commercial, transportation and industrial activities.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global industrial gases market, along with forecasts at the global and regional level from 2022-2027. The report has categorized the market based on type, application and supply mode.
Breakup by Type:
- Nitrogen
- Oxygen
- Carbon Dioxide
- Argon
- Hydrogen
- Others
On the basis of the type, nitrogen is the most popular type of industrial gas. It is extensively utilized in applications such as lasing gas mixture, petrochemicals for instrumentation, calibration gases and in both controlled and modified atmospheric packaging solutions.
Breakup by Application:
- Manufacturing
- Metallurgy
- Energy
- Chemicals
- Healthcare
- Others
Manufacturing applications currently account for the largest market share, as industrial gases are widely used in the medical, electronics, automotive, marine and textile industries.
Breakup by Supply Mode:
- Packaged
- Bulk
- On-site
Nowadays, packaged industrial gases dominate the market, accounting for the majority of the overall market share. They are available in a wide range of sizes, from small portable packages to large cylinders, which offer versatility, flexibility and mobility.
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
Region-wise, Asia Pacific holds the leading position in the market. This can be accredited to the growing population and advancements in the medical and healthcare, and food and beverage industries across the region.
Competitive Landscape
The competitive landscape of the market is characterized by the presence of numerous small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are Air Liquide S.A., Linde Group, Praxair, Inc., Air Products and Chemicals, Inc. and Airgas, Inc.
Key Questions Answered in This Report
1. What was the global industrial gases market size in 2021?2. What will be the global industrial gases market outlook during the forecast period (2022-2027)?
3. What are the global industrial gases market drivers?
4. What are the major trends in the global industrial gases market?
5. What is the impact of COVID-19 on the global industrial gases market?
6. What is the global industrial gases market breakup by type?
7. What is the global industrial gases market breakup by application?
8. What is the global industrial gases market breakup by supply mode?
9. What are the major regions in the global industrial gases market?
Frequently Asked Questions about the Global Industrial Gases Market
What is the estimated value of the Global Industrial Gases Market?
What is the growth rate of the Global Industrial Gases Market?
What is the forecasted size of the Global Industrial Gases Market?
Who are the key companies in the Global Industrial Gases Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 107 |
| Published | April 2022 |
| Forecast Period | 2021 - 2027 |
| Estimated Market Value ( USD | $ 93.7 Billion |
| Forecasted Market Value ( USD | $ 129.1 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
Table of Contents
1 Preface3 Executive Summary
2 Scope and Methodology
4 Introduction
5 Global Industrial Gases Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by Supply Mode
9 Market Breakup by Region
10 Imports and Exports
11 Industrial Gases Manufacturing Process
12 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Air Liquide S.A.
- Linde Group
- Praxair Inc.
- Air Products and Chemicals Inc.
- Airgas Inc
Methodology
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