2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

How Are Key Drivers Contributing to the Growth and Expansion of the Industrial Gas Market?

There is a growing trend in the healthcare industry towards improving overall health and quality of life with new advancements. Industrial gases like oxygen, nitrous oxide, nitric oxide, hydrogen, helium, and xenon are being primed for inclusion in pharmaceutical products. New value is being added to the sector through the application of products involving induced pluripotent stem cells (IPS) treatments and drug innovations. Gases such as carbon dioxide and liquid nitrogen are being used for cell and tissue growth and preservation which is boosting the need for premium industrial gases.

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What is the Predicted Annual Growth Rate of theIndustrial Gas Market Impact Industry Trends by 2034?

The expansion of the industrial gas market has been swift over the recent years. The market is projected to escalate from a worth of $166.67 billion in 2024 to approximately $190.19 billion in 2025 with a compound annual growth rate (CAGR) of 14.1%. The surge during the historic period is credited to factors like augmented manufacturing and industrial growth, progression in the energy sector, rising needs in the healthcare industry, globalization and international trade growth, environmental policies, and infrastructure development.

The market size for industrial gas is projected to witness substantial expansion in the coming years, reaching $308.83 billion in 2029 with a compound annual growth rate (CAGR) of 12.9%. The expected growth within this timeframe is largely attributable to the escalating transition towards green energy, the growth of the electronics industry, carbon capture and storage, the evolution of the hydrogen economy, and developments in space exploration and the aerospace industry. The major trends anticipated within this period encompass the biotechnology and pharmaceutical sector, advanced manufacturing technologies, technological advancements, the growth of the medical gases market, and the expansion of the liquefied natural gas (LNG) market.

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What New Market Trends Are Reshaping theIndustrial Gas Market and Its Opportunities?

The practice of harnessing carbon dioxide expelled from industrial plants by industrial gas firms for greenhouse utilization is on the rise. CO2 produced at power plants and refineries is captured and stored locally, as well as in vacant natural gas fields, and is then piped to greenhouses. This method operates as an innovative CO2 recycling system and lowers the carbon impact of greenhouses. Take Linde for instance, which gathers carbon dioxide from the Shell oil refinery adjacent to Rotterdam, Netherlands, and delivers it to over 580 greenhouses in Rotterdam and Amsterdam. This prevents the burning of 115 million cubic meters of natural gas, and inhibits the emission of 205,000 tons of CO2 annually.

Who Are the Leading Market Players Fueling Growth in the Industrial Gas Market Trend?

Major companies operating in the industrial gas market include Asia Technical Gas Co. Pte. Ltd., Universal Industrial Gases Inc., BASF SE, Mitsubishi Chemical Holdings Corporation, Linde GmbH, Air Liquide S.A.S., Air Products and Chemicals Inc., Showa Denko K.K., Taiyo Nippon Sanso & Co. Ltd., Air Water Inc., Airgas Inc., Iwatani Corporation, Messer Group GmbH, Matheson Tri-Gas Inc., SOL S.p.A., Nippon Gases, Ellenbarrie Industrial Gases, Yingde Gases Group Co. Ltd., SIAD Group, Blue Star Limited, Gulf Cryo, nexAir LLC, Sapio Group, PT Samator Indo Gas TBK, SIG Gases Berhad, Gases Plus, Bhuruka Gases Limited

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How is the Global Industrial Gas Market Segemented?

The industrial gas market covered in this report is segmented –

1) By Type: Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Other Industrial Gas

2) By Mode of Supply: Bulk, Packaging, Pipe Line

3) By Packaging: Cylinders, Bottles, Canisters, Cartridges, Cryogenic Tanks Or Vessels, Other Packagings

4) By End User Industry: Chemicals, Metallurgy, Manufacturing, Food And Beverage, Healthcare, Other End-User Industries

Subsegments:

1) By Nitrogen: Liquid Nitrogen, Gaseous Nitrogen

2) By Oxygen: Liquid Oxygen, Gaseous Oxygen

3) By Carbon Dioxide: Liquid Carbon Dioxide, Gaseous Carbon Dioxide

4) By Hydrogen: Gaseous Hydrogen, Liquid Hydrogen

5) By Other Industrial Gas: Argon, Acetylene, Helium, Neon, Other Specialty Gases

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Which Geographics are Influencing the Growth of the Industrial Gas Market?

Asia-Pacific was the largest region in the industrial gas market in 2024. North America was the second-largest region in the industrial gas market. The regions covered in the industrial gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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