Global Industrial Gases in Metals and Metal Fabrication Market to Reach $89.5 Billion by 2030
The global market for Industrial Gases in Metals and Metal Fabrication estimated at US$55.1 Billion in the year 2023, is expected to reach US$89.5 Billion by 2030, growing at a CAGR of 7.2% over the analysis period 2023-2030. Industrial Hydrogen, one of the segments analyzed in the report, is expected to record a 7.5% CAGR and reach US$24.4 Billion by the end of the analysis period. Growth in the Industrial Oxygen segment is estimated at 8.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $14.3 Billion, While China is Forecast to Grow at 10.9% CAGR
The Industrial Gases in Metals and Metal Fabrication market in the U.S. is estimated at US$14.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$21.8 Billion by the year 2030 trailing a CAGR of 10.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.2% and 5.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$13.1 Billion by the year 2030.
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