Industrial Gases Market Size, Trends and Insights By Type (Oxygen, Nitrogen, Hydrogen, Argon, Carbon Dioxide, Others), By Application (Cryogenic, Coolant, Packaging, Air Separation, Other), By End Use Industry (Healthcare, Electronics, Aerospace, Construction, Energy and Power, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Air Liquide
- Linde plc
- Air Products and Chemicals Inc.
- Praxair Inc.
- Taiyo Nippon Sanso Corporation
- Others
Reports Description
Global Industrial Gases Market was valued at USD 95.2 Billion in 2023 and is expected to reach USD 171.6 Billion by 2032, at a CAGR of 5.7% during the forecast period 2023 – 2032.
Industrial gases are gasses that are developed, processed, and utilized in a variety of sectors, including manufacturing, processing, and chemical synthesis. These gases are often generated in large quantities using techniques such as air separation, natural gas reforming, and electrolysis.
The elements nitrogen, oxygen, hydrogen, carbon dioxide, argon, helium, and acetylene are some of the most often used industrial gases.
Industrial Gases Market: Growth Factors
Rising healthcare industry
Industrial gases like oxygen, nitrogen, and carbon dioxide are required for a variety of medical uses, including respiratory treatment, anaesthesia, and cryogenic preservation. As the healthcare sector grows to satisfy the requirements of aging populations and expanding economies, grows the need for industrial gases used in medicine.
Furthermore, advances in medical technology necessitate accurate and dependable gases for operations such as laser surgery, magnetic resonance imaging (MRI), and pharmaceutical manufacture, hence increasing demand for industrial gases.
Moreover, tight laws and quality requirements in the healthcare sector need high-purity gases, opening up the potential for industrial gas providers to deliver specific goods and services customized to the healthcare industry’s requirements.
In conclusion, the expansion of the healthcare sector serves as a primary driver of the industrial gases market. For instance, Linde Healthcare provides a comprehensive array of medical gas solutions, ensuring that medication standards for all medical gases precisely match regulatory requirements. ENTONOX® is a gas mixture that contains 50% nitrous oxide IP by volume and 50% oxygen IP by volume in a cylinder.
Pain relief is typically used in emergency settings and involves many invasive treatments. ENTONOX® offers the analgesic benefits of nitrous oxide while also providing more oxygen while inducing loss of consciousness.
Increasing usage of industrial gases in the oil & gas industry
The growing use of industrial gases in the oil and gas industry is propelling the industrial gases market. For example, nitrogen is utilized in inerting and blanketing applications to avoid explosions and corrosion in storage tanks and pipes. Oxygen is used in a variety of processes, including oxidation, the gasification process, and combustion, to improve oil recovery and refining.
Furthermore, hydrogen is used in hydrotreating and hydrocracking procedures to eliminate contaminants and improve crude oil. The oil and gas industry’s ongoing exploration and production operations, along with the requirement for efficient and environmentally friendly procedures, drive rising demand for industrial gases.
Furthermore, developments in gas processing technologies, combined with increased expenditures in oil and gas infrastructure development, contribute to the growth of the industrial gas market. For instance, Air Products supports the oil and gas sector with over 50 years of expertise, as well as cutting-edge industrial gas services and technology.
With nitrogen supply and support for unconventional drilling and completion to large-scale nitrogen generating units for improved oil recovery, Air Products offers the supply and distribution networks, service personnel, and production technologies to satisfy the oil and gas industry’s demands.
Industrial Gases Market: Restraints
Stringent laws and regulations for storage and distribution of gases
The industrial gas industry has substantial hurdles from stringent rules and regulations governing gas manufacture, storage, and delivery. Compliance with these rules frequently necessitates significant expenditures in infrastructure, technology, and safety measures, which raises operating costs for gas makers and distributors.
Furthermore, adhering to ecological requirements and safety measures complicates gas production and handling operations, thereby reducing supply chain efficiency and dependability. As a result, enterprises may face heightened scrutiny and regulatory control, reducing investment and innovation in the industrial gas industry.
Moreover, the requirement for continual monitoring, reporting, and compliance with regulatory requirements increases administrative load and operational complexity, possibly impeding market development and competition in places with strong regulatory frameworks.
Industrial Gases Market: Opportunities
Rapid spread of manufacturing and processing industries
Industrial gases including oxygen, nitrogen, hydrogen, and carbon dioxide are required for many manufacturing operations, including metal fabrication, chemical synthesis, and food processing. As the manufacturing and processing sectors grow internationally, there is a greater demand for industrial gases to support these processes.
Furthermore, industrial gases have critical roles in increasing productivity, efficiency, and quality of goods in manufacturing operations. For instance, oxygen is used in combustion processes to heat, but nitrogen is used for inerting and coating to avoid oxidation and contamination.
In addition, with an increasing emphasis on sustainability and environmental standards, industrial gases are being used in technologies for pollution control including flue gas treatment and treatment of wastewater. For instance, India’s GDP growth rate increased to 7.8% in the April to June quarter of 2023, according to figures issued by the National Statistical Office.
In August, manufacturing output increased by 9.3% year on year and 1.2% monthly. India’s industrial production increased by 10.3% over year in August 2023, according to figures issued by the Government of India’s National Statistical Office, up from 6.0% in July.
Industrial Gases Market: Segmentation Analysis
Global Industrial Gases market is segmented by type, application, end use industry and region. Based on type, the market is classified into oxygen, nitrogen, hydrogen, argon, carbon dioxide, and others. Oxygen dominated the market in 2022 with a market share of 35% and is expected to keep its dominance during the forecast period 2024-2032.
In the manufacturing industry, oxygen is employed in operations including metal fabrication, welding, and cutting. It is also required for oxy-fuel combustion in the steel, refining, and chemical industries.
Furthermore, oxygen is used in wastewater treatment facilities for biological operations, as well as in hospitals for medicinal gases and respiratory therapy. Moreover, advances in technology such as gasification and gas separation techniques are broadening the breadth of oxygen’s use in areas such as energy, healthcare, and electronics manufacturing.
In general, oxygen’s adaptability, along with its vital involvement in a variety of industrial processes, makes it a key driver of the worldwide industrial gas market.
Based on application, the market is classified into cryogenic, coolant, packaging, air separation and others. The Cryogenics segment dominated the market in 2022 with a market share of 40% and is expected to keep its dominance during the forecast period 2024-2032.
Cryogenics is a key driver of the industrial gas market due to its applicability in a variety of sectors. Cryogenic gases, including nitrogen, oxygen, argon, and helium, are used in cryogenic operations that need extremely low temperatures.
The resulting gases are essential for processes such as freezing and preserving biological samples, chilling superconducting magnets in MRI equipment, and liquefying natural gas for transit and storage. In industrial settings, cryogenic gases are utilized for metal manufacturing, welding, cutting, and heat treatment.
The need for industrial exhaust gases is rising alongside the expansion of industries that include manufacturing, healthcare, electronics, and energy.
Based on end use industry, the market is classified into healthcare, electronics, aerospace, construction, energy and power and others. The healthcare segment dominated the market in 2022 with a market share of 35% and is expected to keep its dominance during the forecast period 2024-2032.
The healthcare industry propels the industrial gas market through a variety of applications, most notably medical gas supply and equipment. Industrial gases such as oxygen, nitrogen, and carbon dioxide are essential for medical applications such as respiratory treatment, anaesthesia, and surgery.
Furthermore, industrial gases are employed in medical imaging technologies such as MRI and CT scans, which need helium and xenon. Industrial gases also play an important part in cryopreservation and cryosurgery, where liquid nitrogen is utilized to store biological samples and perform minimally invasive procedures.
Furthermore, an increasing need for healthcare services, advances in medical technology, and increased global investments in healthcare infrastructure all boost the growth of the industrial gas market.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 95.2 Billion |
| Projected Market Size in 2032 | USD 171.6 Billion |
| Market Size in 2022 | USD 94.4 Billion |
| CAGR Growth Rate | 5.7% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Application, End Use Industry and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Industrial Gases Market: Regional Analysis
By region, Industrial Gases market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
The Asia-Pacific dominated the global Industrial Gases market in 2022 with a market share of 45% in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Asia-Pacific drives the industrial gas market through several main drivers.
To begin, the region’s extensive industrial infrastructure, which includes manufacturing, metals, chemicals, and electronics, drives the need for industrial gases such as nitrogen, oxygen, and argon in a variety of production processes.
Furthermore, rising urbanization and economic expansion fuel the construction and automotive sectors, driving up demand for industrial gases for cutting, welding, and metal fabrication applications.
Moreover, rigorous environmental requirements in countries such as China and India are pressuring enterprises to use cleaner production techniques, such as industrial gases for sewage treatment and air pollution reduction.
Furthermore, the Asia-Pacific region’s growing reliance on renewable energy sources such as hydrogen for fuel cells and energy storage opens up new prospects for expansion of the industrial gases market.
Industrial Gases Market: Recent Developments
- In March 2023, Air Liquide, a major industrial gas operator, declared an investment of about EUR 60 million to renovate two Air Separation Units (ASUs) in the Tianjin industrial basin in China.
- In April 2023, Nippon Gases Italia revealed that it had signed an agreement with Enel Green Power Italia to build a new plant for the reuse, purification, and liquefaction of CO2, which naturally exists in the geothermal fluids of the Piancastagnaio power plants in the province of Siena for food purposes.
- In January 2023, Iwatani Corporation of America disclosed the acquisition of Aspen Air US, LLC, a major manufacturer and supplier of bulk liquid industrial gases.
List of the prominent players in the Industrial Gases Market:
- Air Liquide
- Linde plc
- Air Products and Chemicals Inc.
- Praxair Inc.
- Taiyo Nippon Sanso Corporation
- Messer Group GmbH
- Yingde Gases Group Company Limited
- Taiyo Toyo Sanso Co. Ltd.
- SOL Group
- SIG Gases Berhad
- Matheson Tri-Gas Inc.
- Air Water Inc.
- Gulf Cryo Holding C.S.C.
- Iwatani Corporation
- Airgas Inc.
- Mitsui Chemicals Inc.
- Gasum Oy
- National Industrial Gas Plants
- Ellenbarrie Industrial Gases Limited
- Linde India Limited
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Industrial Gases Market is segmented as follows:
By Type
- Oxygen
- Nitrogen
- Hydrogen
- Argon
- Carbon Dioxide
- Others
By Application
- Cryogenic
- Coolant
- Packaging
- Air Separation
- Other
By End Use Industry
- Healthcare
- Electronics
- Aerospace
- Construction
- Energy and Power
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Industrial Gases Market, (2024 – 2033) (USD Billion)
- 2.2 Global Industrial Gases Market: snapshot
- Chapter 3. Global Industrial Gases Market – Industry Analysis
- 3.1 Industrial Gases Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Rising Healthcare Industry
- 3.2.2 Increasing usage of industrial gases in oil & gas industry
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market Attractiveness Analysis By Application
- 3.7.3 Market Attractiveness Analysis By End Use Industry
- Chapter 4. Global Industrial Gases Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Industrial Gases Market: Company Market Share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Industrial Gases Market – Type Analysis
- 5.1 Global Industrial Gases Market Overview: By Type
- 5.1.1 Global Industrial Gases Market Share, By Type, 2022 and – 2033
- 5.2 Oxygen
- 5.2.1 Global Industrial Gases Market by Oxygen, 2024 – 2033 (USD Billion)
- 5.3 Nitrogen
- 5.3.1 Global Industrial Gases Market by Nitrogen, 2024 – 2033 (USD Billion)
- 5.4 Hydrogen
- 5.4.1 Global Industrial Gases Market by Hydrogen, 2024 – 2033 (USD Billion)
- 5.5 Argon
- 5.5.1 Global Industrial Gases Market by Argon, 2024 – 2033 (USD Billion)
- 5.6 Carbon Dioxide
- 5.6.1 Global Industrial Gases Market by Carbon Dioxide, 2024 – 2033 (USD Billion)
- 5.7 Others
- 5.7.1 Global Industrial Gases Market by Others, 2024 – 2033 (USD Billion)
- 5.1 Global Industrial Gases Market Overview: By Type
- Chapter 6. Global Industrial Gases Market – Application Analysis
- 6.1 Global Industrial Gases Market Overview: By Application
- 6.1.1 Global Industrial Gases Market Share, By Application, 2022 and – 2033
- 6.2 Cryogenic
- 6.2.1 Global Industrial Gases Market by Cryogenic, 2024 – 2033 (USD Billion)
- 6.3 Coolant
- 6.3.1 Global Industrial Gases Market by Coolant, 2024 – 2033 (USD Billion)
- 6.4 Packaging
- 6.4.1 Global Industrial Gases Market by Packaging, 2024 – 2033 (USD Billion)
- 6.5 Air Separation
- 6.5.1 Global Industrial Gases Market by Air Separation, 2024 – 2033 (USD Billion)
- 6.6 Other
- 6.6.1 Global Industrial Gases Market by Other, 2024 – 2033 (USD Billion)
- 6.1 Global Industrial Gases Market Overview: By Application
- Chapter 7. Global Industrial Gases Market – End Use Industry Analysis
- 7.1 Global Industrial Gases Market Overview: By End Use Industry
- 7.1.1 Global Industrial Gases Market Share, By End Use Industry, 2022 and – 2033
- 7.2 Healthcare
- 7.2.1 Global Industrial Gases Market by Healthcare, 2024 – 2033 (USD Billion)
- 7.3 Electronics
- 7.3.1 Global Industrial Gases Market by Electronics, 2024 – 2033 (USD Billion)
- 7.4 Aerospace
- 7.4.1 Global Industrial Gases Market by Aerospace, 2024 – 2033 (USD Billion)
- 7.5 Construction
- 7.5.1 Global Industrial Gases Market by Construction, 2024 – 2033 (USD Billion)
- 7.6 Energy and Power
- 7.6.1 Global Industrial Gases Market by Energy and Power, 2024 – 2033 (USD Billion)
- 7.7 Others
- 7.7.1 Global Industrial Gases Market by Others, 2024 – 2033 (USD Billion)
- 7.1 Global Industrial Gases Market Overview: By End Use Industry
- Chapter 8. Industrial Gases Market – Regional Analysis
- 8.1 Global Industrial Gases Market Regional Overview
- 8.2 Global Industrial Gases Market Share, by Region, 2022 & – 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America Industrial Gases Market, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America Industrial Gases Market, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America Industrial Gases Market, 2024 – 2033 (USD Billion)
- 8.4 North America Industrial Gases Market, by Type, 2024 – 2033
- 8.4.1 North America Industrial Gases Market, by Type, 2024 – 2033 (USD Billion)
- 8.5 North America Industrial Gases Market, by Application, 2024 – 2033
- 8.5.1 North America Industrial Gases Market, by Application, 2024 – 2033 (USD Billion)
- 8.6 North America Industrial Gases Market, by End Use Industry, 2024 – 2033
- 8.6.1 North America Industrial Gases Market, by End Use Industry, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Industrial Gases Market, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe Industrial Gases Market, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe Industrial Gases Market, 2024 – 2033 (USD Billion)
- 8.8 Europe Industrial Gases Market, by Type, 2024 – 2033
- 8.8.1 Europe Industrial Gases Market, by Type, 2024 – 2033 (USD Billion)
- 8.9 Europe Industrial Gases Market, by Application, 2024 – 2033
- 8.9.1 Europe Industrial Gases Market, by Application, 2024 – 2033 (USD Billion)
- 8.10 Europe Industrial Gases Market, by End Use Industry, 2024 – 2033
- 8.10.1 Europe Industrial Gases Market, by End Use Industry, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Industrial Gases Market, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific Industrial Gases Market, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific Industrial Gases Market, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific Industrial Gases Market, by Type, 2024 – 2033
- 8.12.1 Asia Pacific Industrial Gases Market, by Type, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific Industrial Gases Market, by Application, 2024 – 2033
- 8.13.1 Asia Pacific Industrial Gases Market, by Application, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific Industrial Gases Market, by End Use Industry, 2024 – 2033
- 8.14.1 Asia Pacific Industrial Gases Market, by End Use Industry, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Industrial Gases Market, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America Industrial Gases Market, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America Industrial Gases Market, 2024 – 2033 (USD Billion)
- 8.16 Latin America Industrial Gases Market, by Type, 2024 – 2033
- 8.16.1 Latin America Industrial Gases Market, by Type, 2024 – 2033 (USD Billion)
- 8.17 Latin America Industrial Gases Market, by Application, 2024 – 2033
- 8.17.1 Latin America Industrial Gases Market, by Application, 2024 – 2033 (USD Billion)
- 8.18 Latin America Industrial Gases Market, by End Use Industry, 2024 – 2033
- 8.18.1 Latin America Industrial Gases Market, by End Use Industry, 2024 – 2033 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Industrial Gases Market, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Industrial Gases Market, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa Industrial Gases Market, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa Industrial Gases Market, by Type, 2024 – 2033
- 8.20.1 The Middle-East and Africa Industrial Gases Market, by Type, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa Industrial Gases Market, by Application, 2024 – 2033
- 8.21.1 The Middle-East and Africa Industrial Gases Market, by Application, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa Industrial Gases Market, by End Use Industry, 2024 – 2033
- 8.22.1 The Middle-East and Africa Industrial Gases Market, by End Use Industry, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Air Liquide
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Linde plc
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Air Products and Chemicals Inc.
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Praxair Inc.
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Taiyo Nippon Sanso Corporation
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Messer Group GmbH
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Yingde Gases Group Company Limited
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Taiyo Toyo Sanso Co. Ltd.
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 SOL Group
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 SIG Gases Berhad
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Matheson Tri-Gas Inc.
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Air Water Inc.
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Gulf Cryo Holding C.S.C.
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Iwatani Corporation
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 Airgas Inc.
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 Mitsui Chemicals Inc.
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.17 Gasum Oy
- 9.17.1 Overview
- 9.17.2 Financials
- 9.17.3 Product Portfolio
- 9.17.4 Business Strategy
- 9.17.5 Recent Developments
- 9.18 National Industrial Gas Plants
- 9.18.1 Overview
- 9.18.2 Financials
- 9.18.3 Product Portfolio
- 9.18.4 Business Strategy
- 9.18.5 Recent Developments
- 9.19 Ellenbarrie Industrial Gases Limited
- 9.19.1 Overview
- 9.19.2 Financials
- 9.19.3 Product Portfolio
- 9.19.4 Business Strategy
- 9.19.5 Recent Developments
- 9.20 Linde India Limited
- 9.20.1 Overview
- 9.20.2 Financials
- 9.20.3 Product Portfolio
- 9.20.4 Business Strategy
- 9.20.5 Recent Developments
- 9.21 Others.
- 9.21.1 Overview
- 9.21.2 Financials
- 9.21.3 Product Portfolio
- 9.21.4 Business Strategy
- 9.21.5 Recent Developments
- 9.1 Air Liquide
List Of Figures
Figures No 1 to 33
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- ir Liquide
- Linde plc
- Air Products and Chemicals Inc.
- Praxair Inc.
- Taiyo Nippon Sanso Corporation
- Messer Group GmbH
- Yingde Gases Group Company Limited
- Taiyo Toyo Sanso Co. Ltd.
- SOL Group
- SIG Gases Berhad
- Matheson Tri-Gas Inc.
- Air Water Inc.
- Gulf Cryo Holding C.S.C.
- Iwatani Corporation
- Airgas Inc.
- Mitsui Chemicals Inc.
- Gasum Oy
- National Industrial Gas Plants
- Ellenbarrie Industrial Gases Limited
- Linde India Limited
- Others
FAQs
The restraints of the Industrial Gases market is stringent laws and regulations for storage and distribution of gases.
The major driver for the Industrial Gases market is rising healthcare industry and increasing usage of industrial gases in oil & gas industry.
The “Oxygen” category dominated the market in 2022.
The key players in the market are Air Liquide, Linde plc, Air Products and Chemicals Inc., Praxair Inc. , Taiyo Nippon Sanso Corporation, Messer Group GmbH, Yingde Gases Group Company Limited, Taiyo Toyo Sanso Co. Ltd., SOL Group, SIG Gases Berhad, Matheson Tri-Gas Inc. , Air Water Inc., Gulf Cryo Holding C.S.C., Iwatani Corporation, Airgas Inc. , Mitsui Chemicals Inc., Gasum Oy, National Industrial Gas Plants, Ellenbarrie Industrial Gases Limited, Linde India Limited, Others.
“Asia-Pacific” had the largest share in the Industrial Gases Market.
The global market is projected to grow at a CAGR of 5.7% during the forecast period, 2023-2032.
The Industrial Gases Market size was valued at USD 95.2 Billion in 2023.