Industrial Gases Market to Worth USD 161.8 Billion by 2030 | Skyquest Technology

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The industrial gases market is segmented based on the product type, distribution channel and end user. The global industrial gases market is segmented into oxygen, nitrogen, and carbon dioxide based on the type. The global industrial gases market is segmented as cylinder and on-site based on the distribution channel. Based on end-user, the global industrial gases market is segmented as energy, residential and commercial, transport, and industry- Industry Forecast 2023-2030

Westford,USA, July 25, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the industrial gases market is experiencing robust growth, fueled by the rising demand from key end-use sectors such as oil and gas, chemicals, petrochemicals, food and beverage, and power industries. These sectors heavily rely on industrial gases for various applications, such as refining, processing, and manufacturing, driving the demand for these gases.

Browse in-depth TOC on the “Industrial Gases Market”              

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  • Pages – 257
  • Tables –  91
  • Figures – 76

The industrial gases market is anticipated to witness significant growth in the coming years, primarily driven by rapid industrialization and the widespread application of these gases in various industries. Industries such as manufacturing, mining, metals, food & beverage, and healthcare heavily rely on industrial gases for numerous processes and applications, fueling the demand for these gases.

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Report Scope & Segmentation:

Attributes Details
Market Size in 2022 USD 100.32 Billion
2030 Value Projection USD 161.8 Billion
CAGR 6.16%
Forecast Period 2023-2030
Segments Covered
  • Product Type
  • Distribution Channel
  • End User
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Prominent Players in the Industrial Gases Market

  • Linde plc
  • Air Liquide
  • Air Products and Chemicals, Inc.
  • Praxair, Inc.
  • Taiyo Nippon Sanso Corporation
  • Messer Group GmbH
  • Yingde Gases Group Co., Ltd.
  • Gulf Cryo
  • Universal Industrial Gases, Inc.
  • Coregas Pty Ltd
  • Matheson Tri-Gas, Inc.
  • SOL Group
  • The BOC Group Limited
  • Nippon Gases
  • Air Water Inc.
  • TAIYO TOYO SANSO Corporation
  • Asia Technical Gas Co. (Pte) Ltd
  • Iceblick Ltd
  • Airgas, Inc.
  • Iwatani Corporation

Cylinder Segment is Expected to Grow in the Market Due tothe Widespread Use of Packed Cylinders

The cylinder segment has emerged as the top revenue-generating category in the industrial gases market, primarily due to the widespread use of packed cylinders for gas delivery. These cylinders are convenient and effective means of transporting high-pressure gas and low-pressure liquid to various industries and clients. The cylinder delivery method is particularly favored for its ease of use and accessibility, making it suitable for a wide range of applications.

The markets inthe North America have secured the second-largest market share in the industrial gases market, driven by the growing application of gases in critical sectors such as oil & gas and healthcare. In the oil & gas industry, industrial gases are crucial in various processes, including refining, exploration, and production.

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On-Site Segment is Expected to Dominate the Market Due tothe Widespread Utilization of Industrial Gases

The on-site category is projected to witness the most rapid industrial gases market growth. This distribution method involves the establishment of a filling station directly at the client’s facility or at another designated location. Through the on-site approach, large quantities of gases, in various pressures and states, can be efficiently supplied to meet the client’s specific needs.

Regional markets intheAsia Pacificare expected to witness significant growth in theindustrial gases market, driven by various factors. The increasing pace of urbanization and industrialization in countries across the Asia Pacific has led to a surge in demand for industrial gases.

A comprehensive analysis of the major players in the industrial gasesmarket has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.

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Key Developments in the Industrial Gases Market

  • In 2022, Air Products made a significant commitment to support China’s new round of development, with a specific emphasis on the energy transition. As part of its efforts, the company aims to assist China in achieving its decarbonization objectives and pave the way for a greener and more sustainable future. By focusing on clean energy solutions and technologies, Air Products seeks to play a crucial role in helping the country meet its environmental goals and contribute to global efforts to combat climate change.
  • In2022, Cryogenic Industrial Solutions (CIS) confirmed its acquisition of NITRO Crete, a Colorado-based company. Despite the acquisition, NITRO Crete will continue to be led by its current CEO, Stephen De Bever. The acquisition represents a strategic move by CIS to expand its presence and capabilities in the cryogenic and industrial gases market.

Key Questions Answered in Industrial Gases Market Report

  • What specific growth drivers are projected to impact the market during the forecast period?
  • List the top companies in the market and explain how they have achieved their positions of influence.
  • In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?

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