Global Industrial Gases Market Report and Forecast 2023-2028

Global Industrial Gases Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global industrial gases market reached a value of USD 91.36 billion in 2022. Aided by the escalating demand across diverse industries such as healthcare, manufacturing, food and beverages, and petrochemicals, the market is projected to further grow at a CAGR of 6.8% between 2023 and 2028 to reach a value of USD 135.62 billion by 2028.

Industrial gases refer to gaseous materials produced for use in various industries. These gases, including oxygen, nitrogen, carbon dioxide, argon, and hydrogen, among others, play critical roles in numerous processes and applications, thereby, boosting the industrial gases market demand. They are used for product synthesis, as coolants, to improve process safety, and to maintain product quality.

The drive for cleaner energy and lower emissions is fuelling demand for hydrogen gas as a potential energy source. Hydrogen is emerging as a key player in the movement towards sustainable and renewable energy. This gas can be produced through various methods, and when used as a fuel, it only emits water, making it a clean alternative to fossil fuels.

Moreover, as healthcare sector continues to grow, especially under the pressures of global health crises, the demand for medical gases, including oxygen and nitrous oxide, has surged. This factor has bolstered the industrial gases market growth. Hospitals and healthcare facilities require a consistent and reliable supply of these gases for respiratory support, anesthesia, and various other medical procedures.

One of the most substantial applications of industrial gases is in the manufacturing sector. For example, oxygen is used in steel manufacturing to improve efficiency and quality. In the food and beverage sector, gases like carbon dioxide and nitrogen are used to carbonate drinks and to package foods in a modified atmosphere, which extends shelf life without the need for preservatives.

In the petrochemical sector, various industrial gases are used as feedstock to produce chemicals and as a means of enhancing process efficiency and safety. For instance, nitrogen can be used to purge equipment, reducing the risk of explosions, while hydrogen is used to desulfurise fuels.

The Asia Pacific region, led by China and India, accounts for a significant portion of the industrial gases market share. Rapid industrialisation, coupled with large-scale manufacturing activities and growing healthcare needs, contributes to this high demand.

North America and Europe are also significant players in the industrial gases market due to their established industrial sectors, stringent environmental regulations, and advanced healthcare systems. The rise in sustainable energy projects, especially in Europe, is driving the demand for hydrogen.

Market Segmentation

The market can be divided based on type, application, supply mode, and region.

Market Breakup by Type
  • Nitrogen
  • Oxygen
  • Carbon Dioxide
  • Argon
  • Hydrogen
  • Others
Market Breakup by Application
  • Manufacturing
  • Metallurgy
  • Energy
  • Chemicals
  • Healthcare
  • Others
Market Breakup by Supply Mode
  • Packaged
  • Bulk
  • On-Site
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global industrial gases market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Air Liquide
  • Linde AG
  • Praxair Technology, Inc.
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual 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 (2018-2022)
8.3 Global Industrial Gases Market Forecast (2023-2028)
8.4 Global Industrial Gases Market by Type
8.4.1 Nitrogen
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Oxygen
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Carbon Dioxide
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Argon
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Hydrogen
8.4.5.1 Historical Trend (2018-2022)
8.4.5.2 Forecast Trend (2023-2028)
8.4.6 Others
8.5 Global Industrial Gases Market by Application
8.5.1 Manufacturing
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Metallurgy
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Energy
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Chemicals
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Healthcare
8.5.5.1 Historical Trend (2018-2022)
8.5.5.2 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global Industrial Gases Market by Supply Mode
8.6.1 Packaged
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Bulk
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 On-Site
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.7 Global Industrial Gases Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.8 Middle East and Africa
8.7.8.1 Historical Trend (2018-2022)
8.7.8.2 Forecast Trend ( 2023-2028)
9 North America Industrial Gases Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Industrial Gases Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Industrial Gases Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Industrial Gases Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Industrial Gases Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
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 2028
2. Global Industrial Gases Historical Market: Breakup by Type (USD Billion), 2018-2022
3. Global Industrial Gases Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. Global Industrial Gases Historical Market: Breakup by Application (USD Billion), 2018-2022
5. Global Industrial Gases Market Forecast: Breakup by Application (USD Billion), 2023-2028
6. Global Industrial Gases Historical Market: Breakup by Supply Mode (USD Billion), 2018-2022
7. Global Industrial Gases Market Forecast: Breakup by Supply Mode (USD Billion), 2023-2028
8. Global Industrial Gases Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global Industrial Gases Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America Industrial Gases Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America Industrial Gases Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe Industrial Gases Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe Industrial Gases Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific Industrial Gases Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific Industrial Gases Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America Industrial Gases Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America Industrial Gases Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa Industrial Gases Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa Industrial Gases Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Major Importing Countries by Volume (2020)
21. Major Exporting Countries by Volume (2020)
22. Major Importing Countries by Value (2020)
23. Major Exporting Countries by Value (2020)
24. Global Industrial Gases Market Structure

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