Industrial Gases Market Trends, Growth & Forecast 2025-2033
The global industrial gases market size reached USD 109.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 158.3 Billion by 2033, exhibiting a growth rate (CAGR) of 4.13% from 2025-2033.
Market Overview:
The industrial gases market is experiencing rapid growth, driven by rising demand from manufacturing and industrial sectors, advancements in healthcare applications, and growth in energy and renewable sectors. According to IMARC Group’s latest research publication, “Industrial Gases Market Size, Share, Trends and Forecast by Type, Application, Supply Mode, and Region, 2025-2033”, the global industrial gases market size reached USD 109.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 158.3 Billion by 2033, exhibiting a growth rate (CAGR) of 4.13% from 2025-2033.
This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.
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Our report includes:
- Market Dynamics
- Market Trends and Market Outlook
- Competitive Analysis
- Industry Segmentation
- Strategic Recommendations
Growth Factors in the Industrial Gases Market
- Rising Demand from Manufacturing and Industrial Sectors
The industrial gases market is experiencing significant growth due to increasing demand from manufacturing sectors such as automotive, aerospace, and electronics. Industrial gases like oxygen, nitrogen, and argon are critical for processes such as welding, cutting, and heat treatment. For instance, in the automotive industry, nitrogen is used for tire inflation and argon for welding components, ensuring precision and durability. The expansion of manufacturing hubs in emerging economies, such as India and Southeast Asia, further fuels this demand. As industries adopt advanced technologies requiring high-purity gases, companies like Linde and Air Liquide are investing in production facilities to meet these needs, driving market expansion.
- Advancements in Healthcare Applications
The healthcare sector is a key growth driver for the industrial gases market, with gases like oxygen and nitrous oxide playing vital roles in medical treatments and diagnostics. Oxygen is essential for respiratory therapies, particularly in hospitals and home care settings for patients with chronic conditions like COPD. The rise in global healthcare expenditure and aging populations, especially in countries like Japan and the United States, has increased the need for medical-grade gases. For example, during the COVID-19 pandemic, hospitals worldwide relied heavily on oxygen supplies for ventilators. This trend has prompted gas suppliers to enhance distribution networks and innovate in portable gas delivery systems.
- Growth in Energy and Renewable Sectors
The energy sector, particularly renewable energy, is boosting the industrial gases market. Hydrogen, in particular, is gaining traction as a clean energy source for fuel cells and power generation. Governments and companies are investing in green hydrogen projects to support decarbonization goals. For instance, European initiatives like the Hydrogen Backbone project aim to create a hydrogen supply network for industrial and transportation applications. Additionally, carbon dioxide is used in enhanced oil recovery to improve extraction efficiency. As global energy transitions accelerate, industrial gas companies are scaling up production and exploring sustainable sourcing methods to align with environmental regulations.
Key Trends in the Industrial Gases Market
- Shift Toward Green and Sustainable Gas Production
Sustainability is reshaping the industrial gases market as companies prioritize eco-friendly production methods. Green hydrogen, produced using renewable energy, is a prime example, with major players like Air Products investing in electrolysis-based production facilities. This trend aligns with global efforts to reduce carbon emissions, driven by policies like the EU’s Green Deal. Additionally, carbon capture and storage (CCS) technologies are gaining traction, allowing companies to repurpose CO2 for industrial use. For example, Linde’s partnership with BASF on CCS projects demonstrates how the industry is adapting to environmental demands while maintaining supply chain efficiency.
- Technological Innovations in Gas Applications
Technological advancements are transforming how industrial gases are used across industries. Innovations like cryogenic freezing, which uses liquid nitrogen for food preservation, are improving efficiency in the food and beverage sector. Similarly, 3D printing technologies rely on inert gases like argon to create controlled environments for metal fabrication. Companies like Praxair are developing smart gas delivery systems that optimize usage through real-time monitoring. These advancements not only enhance operational efficiency but also open new market opportunities, such as in additive manufacturing, where high-purity gases ensure product quality and consistency.
- Increasing Adoption of On-Site Gas Generation
On-site gas generation is a growing trend, allowing industries to produce gases like nitrogen and oxygen directly at their facilities. This approach reduces transportation costs and ensures a reliable supply, particularly for remote or high-demand sites. For example, steel manufacturers use on-site nitrogen generators for blanketing processes to prevent oxidation. Companies like Messer Group are offering modular gas generation systems tailored to specific industries, enhancing flexibility and cost-efficiency. This trend is particularly prominent in regions with logistical challenges, such as parts of Africa and Asia, where on-site solutions mitigate supply chain disruptions.
We explore the factors driving the growth of the market, including technological advancements, consumer behaviors, and regulatory changes, along with emerging industrial gases market trends.
Leading Companies Operating in the Industrial Gases Industry:
- Air Liquide S.A.
- Linde Group
- Air Products and Chemicals, Inc.
- Airgas, Inc.
Industrial Gases Market Report Segmentation:
By Type:
- Nitrogen
- Oxygen
- Carbon Dioxide
- Argon
- Hydrogen
- Others
Nitrogen dominates the market due to its versatile applications in preservation and purging, safety advantages, and ongoing production technology advancements enhancing purity levels.
By Application:
- Manufacturing
- Metallurgy
- Energy
- Chemicals
- Healthcare
- Others
Manufacturing leads the segment as industrial gases are essential for welding, cutting, and process optimization across multiple production industries.
By Supply Mode:
- Packaged
- Bulk
- On-site
Packaged gases hold significant share owing to their portability, convenience, and wide usage across diverse industrial and healthcare applications.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific accounts for the largest share, driven by rapid industrialization, manufacturing growth, and expanding healthcare infrastructure across emerging economies.
Research Methodology:
The report employs a comprehensive research methodology, combining primary and secondary data sources to validate findings. It includes market assessments, surveys, expert opinions, and data triangulation techniques to ensure accuracy and reliability.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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