The industrial gas market size is expected to grow around $85 billion by 2021 growing at compound annual growth rate (CAGR) of 5%. The growth in the industrial gas market is mainly due to the emerging markets growth, technology development and applications of industrial gas in healthcare industry.



Several trends witnessed in the industrial gas market include industrial gases applications in food and beverage, adoption of advanced technology such as IoT by industrial gas manufacturers and consolidation in the industrial gas market.



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Merger and acquisition activity in the industrial gases market in the last three years has been high. Leading deals have included those completed by Air Liquide, Praxair, Taiyo Nippon Sanso, 2M Holdings, and Messer Group. The high level of merger and acquisition activity in this industry has resulted from large companies looking to increase revenues and add new capabilities in the end user segments where demand for their products has been low.



Linde AG is a producer and supplier of industrial, process and specialty gases, headquartered in Munich, Germany. Praxair is an atmospheric, process, and specialty gases, and surface coatings producer and is headquartered in Connecticut, USA.  In May 2017, The Linde Group and Praxair, Inc. agreed to merge to create approximately a $75 billion industrial gases company. In August 2017, the companies awaited the 10-week acceptance period that would run through to October 2017. The deal is expected to close in 2018. This merger is expected to further consolidate the market by creating a global leader in terms of both sales and geographic footprint.



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