Global Industrial Gases Market Size Study, by Type (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Inert Gases), by End Use Industry (Chemicals, Electronics, Food & Beverages, Healthcare, Manufacturing, Metallurgy, Refining), and Regional Forecast

Global Industrial Gases Market Size Study, by Type (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Inert Gases), by End Use Industry (Chemicals, Electronics, Food & Beverages, Healthcare, Manufacturing, Metallurgy, Refining), and Regional Forecasts 2022-2032

The Global Industrial Gases Market, valued at approximately USD 105.6 billion in 2023, is projected to grow at a healthy CAGR of 5.50% during the forecast period from 2024 to 2032, reaching an impressive market size of USD 170.98 billion by 2032. Industrial gases, including oxygen, nitrogen, hydrogen, and carbon dioxide, play a critical role in enabling a variety of industrial processes. From supporting combustion in manufacturing to preserving food and driving medical innovations, these gases are indispensable across diverse sectors.

The burgeoning demand for cleaner energy solutions and the push toward green technologies are propelling the adoption of hydrogen and other inert gases. Industries are increasingly leveraging cutting-edge technologies to improve gas production, distribution, and storage efficiency. For instance, advancements in cryogenic air separation and membrane gas separation technologies are redefining the market landscape, enabling cost-effective production with reduced environmental footprints.

Challenges such as fluctuating raw material costs and stringent environmental regulations pose potential roadblocks. However, the growing investments in sustainable manufacturing practices and renewable energy projects are set to mitigate these challenges. Collaborative efforts between industry leaders and research institutions are paving the way for innovative applications, including the development of hydrogen fuel cells and carbon capture systems.

Regional insights underscore the dominance of Asia Pacific, driven by the rapid industrialization in economies like China and India. The region's robust manufacturing sector, combined with increasing investments in healthcare and infrastructure, fuels demand for industrial gases. North America and Europe follow closely, with significant advancements in hydrogen technology and a strong focus on sustainability. Meanwhile, emerging markets in Latin America and Middle East & Africa present lucrative opportunities as industrialization and infrastructure development continue to expand.

Major market players driving competition and innovation in the global industrial gases market include:
• Linde plc
• Air Liquide
• Air Products and Chemicals, Inc.
• Praxair Technology, Inc.
• Taiyo Nippon Sanso Corporation
• Messer Group GmbH
• Gulf Cryo
• Iwatani Corporation
• Matheson Tri-Gas, Inc.
• BASF SE
• The Southern Gas Limited
• Chart Industries, Inc.
• Bhuruka Gases Limited
• Goyal MG Gases Pvt. Ltd.
• Ellenbarrie Industrial Gases Ltd.

The detailed segments and sub-segments of the market are explained below:

By Type:
• Oxygen
• Nitrogen
• Hydrogen
• Carbon Dioxide
• Acetylene
• Inert Gases

By End Use Industry:
• Chemicals
• Electronics
• Food & Beverages
• Healthcare
• Manufacturing
• Metallurgy
• Refining

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America
• Brazil
• Mexico

Middle East & Africa
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Years considered for the study are as follows:
• Historical Year – 2022
• Base Year – 2023
• Forecast Period – 2024 to 2032

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Key Takeaways:
• Comprehensive market estimates and forecasts spanning a decade from 2022 to 2032.
• Detailed analysis of revenue trends segmented by type and end-use industry.
• Regional insights including country-level breakdowns of key markets.
• Competitive landscape profiling major players and their strategies.
• Insights into emerging opportunities and strategic recommendations for market stakeholders.
• Assessment of demand-side and supply-side trends driving market growth.

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