Industrial Gases Market by Type, Phase Type, Delivery Mode, End-User

List of Tables

The Industrial Gases Market was valued at USD 112.36 billion in 2023, expected to reach USD 119.90 billion in 2024, and is projected to grow at a CAGR of 7.21%, to USD 183.00 billion by 2030.

The industrial gases market, an expansive segment encompassing oxygen, nitrogen, hydrogen, carbon dioxide, and noble gases, serves as a critical foundation for numerous industries including healthcare, manufacturing, chemicals, electronics, and food and beverage. These gases are indispensable in applications ranging from welding and metal fabrication to food preservation and water treatment, driven by the necessity for operational efficiency, safety improvements, and sustainability. End-use industries rely on industrial gases for their pivotal role in enhancing production processes, meeting environmental regulations, and contributing to technological advancements. Key growth factors influencing this market include increasing urbanization, industrialization in emerging economies, and stringent health and safety regulations. Moreover, advancements in technologies like carbon capture and storage, hydrogen-based energy solutions, and natural gas-based products present lucrative opportunities. Growth in healthcare due to rising geriatric population and the demand for improved medical infrastructure also supports market expansion. However, challenges such as high cost of production, stringent transportation regulations, fluctuating raw material prices, and dependency on global supply chains may hinder market growth. To seize opportunities in this sector, businesses should focus on research and innovation in eco-friendly gases and cost-effective production methods. Developing advanced storage systems and transport solutions could also enhance market penetration. Fostering collaborations and partnerships for technological integration and adopting a customer-centric approach in product development can further drive growth. The industrial gases market is characterized by intense competition, with major players investing in mergers and acquisitions to expand their market footprint while prioritizing innovation for sustainability. Continuous research into improving gas efficiency and diversification into renewable energy applications can unlock further potential, while digitalization such as IoT and AI could revolutionize operational workflows and predictive maintenance, providing a strategic edge in an evolving landscape.

KEY MARKET STATISTICS
Base Year [2023]	USD 112.36 billion
Estimated Year [2024]	USD 119.90 billion
Forecast Year [2030]	USD 183.00 billion
CAGR (%)	7.21%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Industrial Gases Market

The Industrial Gases Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rapid industrialization and urbanization across economies worldwide
- Increased focus on quality control and packaging in the pharmaceutical industry driving gas demand
- Expansion of the food and beverage industry increasing the requirement for food-grade industrial gases
Market Restraints
- Fluctuations in the availability of raw materials associated with industrial gases
Market Opportunities
- Increased focus on green technology spurs demand for carbon capture and storage solutions
- Renewable energy integration driving the adoption of hydrogen as a clean energy carrier
- Ongoing research activities to develop new gas-related technologies
Market Challenges
- Environmental concerns associated with industrial gas emissions and carbon footprints
- Stringent environmental regulations and policies for industrial gas emissions

Porter's Five Forces: A Strategic Tool for Navigating the Industrial Gases Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Industrial Gases Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Industrial Gases Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Industrial Gases Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Industrial Gases Market

A detailed market share analysis in the Industrial Gases Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Industrial Gases Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Industrial Gases Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Industrial Gases Market

A strategic analysis of the Industrial Gases Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Industrial Gases Market, highlighting leading vendors and their innovative profiles. These include Air Liquide S.A., Air Products and Chemicals, Inc., Air Water Inc., Asia Technical Gas Co. (Pte) Ltd., BASF SE, Bhuruka Gases Limited, ConocoPhillips Indonesia Inc Ltd, Ellenbarrie Industrial Gases Ltd., Evonik Industries AG, Goyal MG Gases Pvt. Ltd., Gulf Cryo, International Industrial Gases Ltd., Iwatani Corporation, Linde PLC, Matheson Tri-Gas Inc., Messer Group, Mitsubishi Chemical Group Corporation, MVS Engineering Pvt. Ltd., PT Samator Indo Gas Tbk, Siad S.p.A., SOL Group, Southern Gas Limited, Strandmollen A/S, and Universal Industrial Gases, Inc..

Market Segmentation & Coverage

This research report categorizes the Industrial Gases Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Type, market is studied across Acetylene, Ammonia, Argon, Carbon Dioxide, Carbon Monoxide, Helium, Hydrogen, Nitrogen, and Oxygen.
Based on Phase Type, market is studied across Gaseous Phase, Liquid Phase, and Solid Phase. The Solid Phase is further studied across Cryogenic Grinding and Dry Ice.
Based on Delivery Mode, market is studied across Bulk, Cylinder, On-site Generation, and Pipeline. The Bulk is further studied across Gas Delivery and Liquid Delivery. The Cylinder is further studied across High Pressure Cylinders and Low Pressure Cylinders. The Pipeline is further studied across Industrial Pipelines and Utility Pipelines.
Based on End-User, market is studied across Aerospace, Construction, Electronics, Energy & Power, Food & Beverage, Healthcare, and Manufacturing. The Electronics is further studied across Display Manufacturing and Semiconductor Manufacturing. The Energy & Power is further studied across Carbon Capture, Enhanced Oil Recovery, and Liquefied Natural Gas (LNG). The Food & Beverage is further studied across Carbonation, Packaging Solutions, and Preservation. The Healthcare is further studied across Anesthesia, Diagnostics, and Respiratory Therapy. The Manufacturing is further studied across Automobiles, Pulp & Paper, and Textiles.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-521BAA36EDA5

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rapid industrialization and urbanization across economies worldwide
  - 5.1.1.2. Increased focus on quality control and packaging in the pharmaceutical industry driving gas demand

5.1.1.3. Expansion of the food and beverage industry increasing the requirement for food-grade industrial gases

5.1.2. Restraints
- 5.1.2.1. Fluctuations in the availability of raw materials associated with industrial gases
5.1.3. Opportunities
- 5.1.3.1. Increased focus on green technology spurs demand for carbon capture and storage solutions

5.1.3.2. Renewable energy integration driving the adoption of hydrogen as a clean energy carrier

5.1.3.3. Ongoing research activities to develop new gas-related technologies

5.1.4. Challenges
- 5.1.4.1. Environmental concerns associated with industrial gas emissions and carbon footprints

5.1.4.2. Stringent environmental regulations and policies for industrial gas emissions

5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing usage of hydrogen as a source of clean energy for transportation and power generation
- 5.2.2. Application: Growing potential of the industrial gases construction sector for steel manufacturing and fabrication
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Industrial Gases Market, by Type

6.1. Introduction
6.2. Acetylene
6.3. Ammonia
6.4. Argon
6.5. Carbon Dioxide
6.6. Carbon Monoxide
6.7. Helium
6.8. Hydrogen
6.9. Nitrogen
6.10. Oxygen

7. Industrial Gases Market, by Phase Type

7.1. Introduction
7.2. Gaseous Phase
7.3. Liquid Phase
7.4. Solid Phase
- 7.4.1. Cryogenic Grinding
- 7.4.2. Dry Ice

8. Industrial Gases Market, by Delivery Mode

8.1. Introduction
8.2. Bulk
- 8.2.1. Gas Delivery
- 8.2.2. Liquid Delivery
8.3. Cylinder
- 8.3.1. High Pressure Cylinders
- 8.3.2. Low Pressure Cylinders
8.4. On-site Generation
8.5. Pipeline
- 8.5.1. Industrial Pipelines
- 8.5.2. Utility Pipelines

9. Industrial Gases Market, by End-User

9.1. Introduction
9.2. Aerospace
9.3. Construction
9.4. Electronics
- 9.4.1. Display Manufacturing
- 9.4.2. Semiconductor Manufacturing
9.5. Energy & Power
- 9.5.1. Carbon Capture
- 9.5.2. Enhanced Oil Recovery
- 9.5.3. Liquefied Natural Gas (LNG)
9.6. Food & Beverage
- 9.6.1. Carbonation
- 9.6.2. Packaging Solutions
- 9.6.3. Preservation
9.7. Healthcare
- 9.7.1. Anesthesia
- 9.7.2. Diagnostics
- 9.7.3. Respiratory Therapy
9.8. Manufacturing
- 9.8.1. Automobiles
- 9.8.2. Pulp & Paper
- 9.8.3. Textiles

10. Americas Industrial Gases Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Industrial Gases Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Industrial Gases Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Meritus Gas Partners Announces Partnership with Dallas-Based Airco Gases Southwest
- 13.3.2. Air Products to Acquire, Own and Operate Industrial Gas Complex at Uzbekneftegaz's Advanced Gas-to-Liquids Facility in Uzbekistan for USD 1 Billion
- 13.3.3. INOX Air planes INR 3,000 crore investment by 2025 to meet rising demand
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Air Liquide S.A.
2. Air Products and Chemicals, Inc.
3. Air Water Inc.
4. Asia Technical Gas Co. (Pte) Ltd.
5. BASF SE
6. Bhuruka Gases Limited
7. ConocoPhillips Indonesia Inc Ltd
8. Ellenbarrie Industrial Gases Ltd.
9. Evonik Industries AG
10. Goyal MG Gases Pvt. Ltd.
11. Gulf Cryo
12. International Industrial Gases Ltd.
13. Iwatani Corporation
14. Linde PLC
15. Matheson Tri-Gas Inc.
16. Messer Group
17. Mitsubishi Chemical Group Corporation
18. MVS Engineering Pvt. Ltd.
19. PT Samator Indo Gas Tbk
20. Siad S.p.A.
21. SOL Group
22. Southern Gas Limited
23. Strandmollen A/S
24. Universal Industrial Gases, Inc.