Global Industrial Gas Market Size, Share, And Growth Analysis For 2024-2033

The Business Research Company’s Industrial Gas Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

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The industrial gas market size has expanded significantly in recent years. It is projected to increase from $146.1 billion in 2023 to $166.04 billion in 2024, with a compound annual growth rate (CAGR) of 13.7%. The growth during the historical period can be attributed to advancements in manufacturing and industry, developments in the energy sector, demands from the healthcare industry, globalization and international trade, environmental regulations, and infrastructure improvements.

What Is the Projected Market Size of the Global Industrial Gas Market and Its Growth Rate?
The industrial gas market size is anticipated to experience substantial growth in the coming years. It is projected to reach $272.59 billion by 2028, with a compound annual growth rate (CAGR) of 13.2%. Factors contributing to this growth during the forecast period include the increasing shift towards green energy, expansion in the electronics industry, advancements in carbon capture and storage technologies, the development of the hydrogen economy, and progress in space exploration and the aerospace sector.

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What are the Key Drivers Fueling Growth in the Industrial Gas Market?
The rise in the manufacturing industry is poised to significantly drive the growth of the industrial gas market in the future. The manufacturing industry involves the production of goods by converting raw materials, components, or parts into finished products through various mechanical, chemical, or physical processes. This sector is a major consumer of industrial gases, which are essential for applications such as welding, cutting, and chemical manufacturing. As manufacturing industries expand, particularly in emerging economies, the demand for industrial gases is expected to increase correspondingly, further propelling market growth.

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Who Are the Key Players Driving Growth in the Industrial Gas Market?
Key players in the market include Asia Technical Gas Co. Pte. Ltd., Universal Industrial Gases Inc., BASF SE, Mitsubishi Chemical Holdings Corporation, Linde GmbH, Air Liquide S.A.S., Praxair Inc., Air Products and Chemicals Inc., Showa Denko K.K., Taiyo Nippon Sanso & Co. Ltd., Air Water Inc., Airgas Inc., Iwatani Corporation, Messer Group GmbH, Matheson Tri-Gas Inc., SOL S.p.A., Nippon Gases, Ellenbarrie Industrial Gases, Yingde Gases Group Co. Ltd., SIAD Group, Blue Star Limited, Standex International Corporation, Gulf Cryo, Frigoglass SAIC, nexAir LLC, Arneg S.p.A., Sapio Group, PT Samator Indo Gas TBK, SIG Gases Berhad, Gases Plus, Bhuruka Gases Limited

What Are The Emerging Trends Shaping The Growth Of The Industrial Gas Market?
Major companies in the industrial gas market are focusing on the development of innovative products like LPG cutting gases, specifically designed to enhance precision and efficiency in metal fabrication and welding processes. LPG cutting gas is tailored for the metal cutting industry, catering to sectors such as scrap processing, fabrication, and metalworking. This strategic innovation aims to provide companies with a competitive advantage by offering improved performance and reliability in critical applications.

What Are the Segments of the Global Industrial Gas Market?
1) By Type: Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Other Industrial Gas
2) By Mode of Supply: Bulk, Packaging, Pipe Line
3) By Packaging: Cylinders, Bottles, Canisters, Cartridges, Cryogenic Tanks/Vessels, Other Packagings
4) By End User Industry: Chemicals, Metallurgy, Manufacturing, Food & Beverage, Healthcare, Other End-User Industries

Geographic Overview: Asia-Pacific at the Helm of the Industrial Gas Market
Asia-Pacific was the largest region in the market in 2023. North America was the second-largest region in the market. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Is The Industrial Gas Market Defined?
Industrial gas refers to gaseous materials produced specifically for industrial applications, encompassing a wide range of organic and inorganic gases available in compressed, liquid, and solid forms. These gases, commonly known as bulk gases or commodity gases, play a crucial role in various sectors, including manufacturing, healthcare, and energy. They are essential for processes such as welding, cutting, chemical synthesis, and refrigeration, serving as foundational components in numerous industrial operations.

The Industrial Gas Global Market Report 2024 from The Business Research Company includes the following key information:
•Market size data for both historical and future periods
•Analysis of both macro and microeconomic factors that have impacted the market over the past five years
•Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
•Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Industrial Gas Market Report: Trends, Opportunities, Strategies, and More
The Industrial Gas Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into industrial gas market size, industrial gas market drivers and trends, industrial gas competitors' revenues, and industrial gas market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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