Overview and Scope
The industrial gas refers to gaseous materials produced for use in industry such as industrial organic and inorganic gases in compressed, liquid, and solid forms. Industrial gases are also referred to as bulk gases or commodity gases.
Sizing and Forecast
The industrial gas market size has grown rapidly in recent years. It will grow from $146.1 billion in 2023 to $166.04 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to manufacturing and industrial growth, energy sector development, healthcare industry requirements, globalization and international trade, environmental regulations, infrastructure development.
The industrial gas market size is expected to see rapid growth in the next few years. It will grow to $272.59 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%. The growth in the forecast period can be attributed to growing transition to green energy, electronics industry growth, carbon capture and storage, hydrogen economy development, space exploration and aerospace industry. Major trends in the forecast period include biotechnology and pharmaceutical sector, advanced manufacturing technologies, technological advancements, medical gases market growth, liquefied natural gas (lng) market expansion.
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Segmentation & Regional Insights
The industrial gas market covered in this report is segmented –
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
Asia-Pacific was the largest region in the industrial gas market in 2023. North America was the second-largest region in the industrial gas market. The regions covered in the industrial gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
New developments are taking place in healthcare with an increasing emphasis on a healthier and generally better quality of life. In addition to oxygen, nitrous oxide, nitric oxide, and other industrial gases like hydrogen, helium, and xenon are all being prepared for use in pharmaceutical-based products. Treatments and drug developments using induced pluripotent stem cells (IPS) are bringing a new added value to the industry through the application of systems using gases such as carbon dioxide and liquid nitrogen, which are indispensable for the cultivation and preservation of cells and tissues, driving demand for high-grade industrial gases.
Key Industry Players
Major companies operating in the industrial gas market report are 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
The industrial gas market report table of contents includes:
1. Executive Summary
2. Industrial Gas Market Characteristics
3. Industrial Gas Product/Service Analysis -Product/Service Examples
4. Industrial Gas Market Trends And Strategies
5. Industrial Gas Market – Macro Economic Scenario
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68. Global Industrial Gas Market Competitive Benchmarking
69. Global Industrial Gas Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Industrial Gas Market
71. Industrial Gas Market Future Outlook and Potential Analysis
72. Appendix
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