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The global industrial gases market size was nearly USD 97.57 billion in 2023. The industry is further expected to grow at a CAGR of 6.8% over the forecast period of 2024-2032 to attain a value of USD 176.44 billion by 2032.
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The global industrial gases market is being driven by the development of packaging technologies such as rapid surface chilling and others. For instance, rapid surface chilling technology demands cryogenically cooled liquid nitrogen to preserve meat; thus, it is driving the demand for industrial gases in the food and beverage sector. The nitrogen segment, among other gas-types, dominates the industry owing to its increased demand for applications like lasing gas combination, petrochemicals for instrumentation, calibration gases and controlled, and modified atmospheric packaging solutions, among others.
Currently, the manufacturing segment, among various applications, leads the global industrial gases industry. Further, the packaged segment dominates the industry owing to its versatility, flexibility, and mobility. Also, packaged industrial gases are extensively used by manufacturers due to its availability in various sizes ranging from small portable packages to large cylinders.
The Asia Pacific is the leading regional market, accounting for a significant industry share. The market in the region is supported by the increasing investment in the medical and healthcare sector and the thriving food and beverage industry coupled with the presence of a large population. Within the Asia Pacific, the developing countries like China and India are striving to increase their production capacity in a variety of industries such as metals, oil and gas, construction, and healthcare which induce high demand for industrial gases, and, thus, such regions are expected to provide enhanced growth opportunities to the industry.
Industrial gases refer to gases that are produced in large quantities for use in several production and industrial processes. They are known for their reactivity, inertness, and other physical characteristics.
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The industrial gases market segmentation, based on type, is as follows:
Industrial gases like oxygen are used in advanced healthcare facilities for anaesthetic techniques as they provide a base for life support for artificially ventilated patients. Further, hydrogen is widely utilised in the transportation industry, while oxygen finds applications in gasification plants, hospitals, and steel manufacturing plants.
On the basis of application, the industry is segmented into:
On the basis of supply mode, the industry is divided into:
The report also covers the regional industrial gases markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The global industrial gases market is being driven by the growing use of industrial gases in multiple manufacturing processes. The demand for industrial gases in various sectors, including food and beverage, healthcare, energy, electronics, and oil and gas, among others, is supporting the industry growth. The development of packaging technologies such as rapid surface chilling technology will boost the demand for such gases for processing, packaging, and preservation applications.
With the growing expenditure in research and development activities and rapid advancement in technology, the handling of industrial gases is expected to become much simpler, which will substantially aid the industry growth. The growing product demand from the Asia Pacific owing to the developing healthcare industry and growing food and beverage sector in the region is expected to create new opportunities for the industry growth over the forecast period.
The report gives a detailed analysis of the following key players in the global industrial gases market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Supply Mode |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Industrial Gases Market Analysis
8.1 Key Industry Highlights
8.2 Global Industrial Gases Historical Market (2018-2023)
8.3 Global Industrial Gases Market Forecast (2024-2032)
8.4 Global Industrial Gases Market by Type
8.4.1 Nitrogen
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Oxygen
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Carbon Dioxide
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Argon
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Hydrogen
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Industrial Gases Market by Application
8.5.1 Manufacturing
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Metallurgy
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Energy
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Chemicals
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Healthcare
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Others
8.6 Global Industrial Gases Market by Supply Mode
8.6.1 Packaged
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Bulk
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 On-Site
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Industrial Gases Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.8 Middle East and Africa
8.7.8.1 Historical Trend (2018-2023)
8.7.8.2 Forecast Trend ( 2024-2032)
9 North America Industrial Gases Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Industrial Gases Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Industrial Gases Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Industrial Gases Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Industrial Gases Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Air Liquide
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Linde AG
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Praxair Technology, Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Industrial Gases Market: Key Industry Highlights, 2018 and 2032
2. Global Industrial Gases Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Industrial Gases Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Industrial Gases Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Industrial Gases Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Industrial Gases Historical Market: Breakup by Supply Mode (USD Billion), 2018-2023
7. Global Industrial Gases Market Forecast: Breakup by Supply Mode (USD Billion), 2024-2032
8. Global Industrial Gases Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Industrial Gases Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Industrial Gases Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Industrial Gases Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Industrial Gases Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Industrial Gases Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Industrial Gases Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Industrial Gases Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Industrial Gases Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Industrial Gases Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Industrial Gases Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Industrial Gases Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Major Importing Countries by Volume
21. Major Exporting Countries by Volume
22. Major Importing Countries by Value
23. Major Exporting Countries by Value
24. Global Industrial Gases Market Structure
The global industrial gases market reached a value of USD 97.57 billion in 2023.
The market is projected to grow at a CAGR of nearly 6.8% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 176.44 billion by 2032.
The major drivers of the market include rising disposable incomes, the development of advanced packaging technologies, and the rising demand of industrial gases from healthcare, energy, electronics, oil, gas, and food and beverage sectors.
The key trends guiding the market include rising investments in the healthcare and medical sectors, technological advancements and innovations, and the rising demand for industrial gases in the food and beverage sector.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The major types of the product include nitrogen, oxygen, carbon dioxide, argon, and hydrogen, among others.
The significant applications of industrial gases are manufacturing, metallurgy, energy, chemicals, and healthcare, among others.
The various supply modes considered in the market report include packaged, bulk, and on-site.
The leading players in the market are Air Liquide, Linde AG, and Praxair Technology, Inc., among others.
The global industrial gases market attained a value of USD 97.57 billion in 2023, driven by the growth in the food and beverage industry. Aided by the growing expenditure in research and development activities, the industry is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 6.8%. The industry is projected to reach USD 176.44 billion by 2032.
EMR's meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its types, the market can be segmented into nitrogen, oxygen, carbon dioxide, argon, and hydrogen, among others, with nitrogen accounting for the largest market share. By supply modes, the industry is divided into packaged, bulk, and on-site, with the packaged segment leading the market. On the basis of application, the manufacturing sector accounts for the largest share in the global industry. The major regional markets for industrial gases are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above industry include Air Liquide, Linde AG, and Praxair Technology, Inc., among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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