Industrial Gases Market Analysis and Future Projections in 2024-2031 -

Industrial Gases Market Introduction

The industrial gases market plays a vital role in supporting a diverse range of industries, including manufacturing, healthcare, chemicals, energy, food and beverage, and electronics. These gases, encompassing oxygen, nitrogen, hydrogen, carbon dioxide, argon, and others, are integral to various processes such as metal fabrication, chemical synthesis, refrigeration, water treatment, and medical therapies. With technological advancements and an expanding range of applications, the industrial gases market has grown into a significant segment within the global economy.

Industrial Gases Market Definition

Industrial gases refer to a group of gaseous substances that are manufactured for use in a wide variety of industrial processes. These gases are typically produced in large volumes and are essential for numerous applications in sectors like metallurgy, healthcare, chemicals, electronics, food processing, and energy. Common industrial gases include oxygen, nitrogen, carbon dioxide, hydrogen, argon, helium, acetylene, and various rare gases. They can be supplied in compressed, liquefied, or dissolved states, depending on the usage and storage requirements.

Industrial Gases Market Scope & Overview

The industrial gases market encompasses the production, distribution, and application of various gases used across multiple industries. This market includes bulk gases like oxygen, nitrogen, and hydrogen, as well as specialty gases used in niche applications. The scope extends across the value chain—from gas generation and purification to storage, transportation, and end-use applications in sectors such as healthcare, manufacturing, energy, and food processing.

Industrial Gases Market Size

Industrial Gases Market size is estimated to reach over USD 153.87 Billion by 2031 from a value of USD 104.32 Billion in 2023, growing at a CAGR of 5.1% from 2024 to 2031.