Global Industrial Gases Market size is expected to reach $82.4 billion by 2024 from $49.8 billion in 2016; growing at a CAGR of 6.5% from 2016 to 2024. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 6.8% and 6.6%, respectively, during the forecast period.

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Increasing demand of medical grade gases in healthcare and medical industry is one of the major drivers of the global industrial gases market

Global industrial gases trends are resource constrains, growing demand for packed food & beverages, globalization of the industry, and increasing demand of medical grade gases in healthcare and medical industry. Though, high cost of transport & storage of these gases may hamper the market growth. Furthermore, capacity expansion and advancement of innovative technologies like molecular sieve separation would provide several growth opportunities for the market in the future years.

Market Segmentation

Global industrial gases market has been segmented into products type, production and delivery, application, and geography. Products type segment hydrogen, nitrogen, industrial gases oxygen, helium, industrial gases carbon dioxide, argon, and acetylene. Production and delivery segment includes into merchant gases (cylinder delivery), merchant gases (liquified, tank delivery), and high-volume gases (on-site generation). Key industrial gases applications are chemical production, petroleum refinery, electronics, metal processing, food processing, healthcare, and other applications. Global industrial gases industry analysis by region includes North America, Europe, Asia-Pacific and Rest of the World (RoW).

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Hydrogen held for the highest market share in the product type segment

Hydrogen dominated the product type segment with the largest market share in 2016, and expected to maintain its dominance over the forecast period 2016 – 2024, driven by regulatory demands regarding cleaner fuels from various end user sectors.

Petroleum refinery application dominated with highest market share in 2016

Petroleum refinery application accounted the highest market share in 2016, and expected to remain the largest over the forecast period 2016–2024. Food processing segment is anticipated to grow at a fastest CAGR from 2016 to 2024.

Asia-Pacific to grow at a fastest CAGR over the forecast period

Asia-Pacific dominated the global industrial gases market with largest market share of 39% in 2016 and with fastest CAGR, driven by healthcare needs, high energy demand, and climate control initiatives in this region. Moreover, UAE, Singapore, Philippines, Saudi Arabia, and Colombia are posing the significant demand of industrial gases.

Competitive Landscape

The key players operating in the global industrial gases market are Air Liquide S.A., Praxair, Inc., The Linde Group, Air Products & Chemicals Inc., Messer Group GmbH, Buzwair Industrial Gases Factories Taiyo Nippon Sanso Corporation, BASF SE, Yingde Gases Group Company, and AIR WATER INC., among others.

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Scope of Global Industrial Gases Market

Products Type Segments

• Hydrogen
• Oxygen
• Carbon Dioxide
• Nitrogen
• Helium
• Argon
• Acetylene

Production and Delivery Segments

• Merchant Gases (Liquified, Tank Delivery)
• Merchant Gases (Cylinder Delivery)
• High-Volume Gases (On-Site Generation)

Application Segments

• Petroleum Refinery
• Chemical Production
• Food Processing
• Healthcare
• Electronics
• Metal Processing
• Other Applications

Geographical Segments

• North America
o U.S.
o Canada
o Mexico

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

• Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific

• RoW
o South America
o Middle East
o Africa

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