Industrial Gases Market Size, Share & Forecast 2035
Industrial Gases Market Size, Share & Forecast 2035
The global industrial gases market is poised for remarkable growth, projected to increase from US$ 75.94 billion in 2025 to US$ 159.19 billion by 2035, at an impressive CAGR of 8.8%. This expansion is driven by technological advancements, rising demand for cleaner energy solutions, and a focus on decarbonization.
Key Market Drivers for Industrial Gases Market
- Technological Innovations: Industrial gases such as hydrogen and liquid oxygen are integral to cutting-edge applications, including aerospace and advanced manufacturing.
- Sustainability Trends: Rising emphasis on cleaner energy sources like hydrogen aligns with global decarbonization goals.
- Healthcare Demand: Increased medical applications, particularly for oxygen, enhance growth prospects.
- Industrial Expansion: Growing demand from manufacturing and construction industries in emerging markets.
Market Trends for Industrial Gases Market
Sustainability Initiatives
Governments and industries are investing in green hydrogen and other sustainable gases to combat climate change and reduce greenhouse gas emissions.
Strategic Partnerships
Key players are collaborating to advance technologies and streamline gas production and distribution. For example, Linde’s partnership with OCI for clean hydrogen distribution highlights such efforts.
Market Segmentation for Industrial Gases Market
By Product Type
| Product Type | Market Share (2025) |
|---|---|
| Oxygen | 40% |
| Hydrogen | 25% |
| Nitrogen | 20% |
| Carbon Dioxide | 10% |
| Others | 5% |
By Application
| Application | Market Share (2025) |
|---|---|
| Manufacturing | 50% |
| Healthcare | 20% |
| Food and Beverages | 15% |
| Metallurgy and Glass | 10% |
| Others | 5% |
Regional Insights for Industrial Gases Market
Asia Pacific
- Dominance: Led by China and India, the region is at the forefront of industrial gas consumption due to robust industrial growth.
- CAGR: Projected at 10.2%.
North America
- Growth driven by advancements in healthcare and electronic sectors.
- CAGR: Estimated at 6.5%.
Europe
- Focus on renewable energy and green hydrogen positions Europe as a key market.
- CAGR: Predicted at 7.3%.
Challenges for Industrial Gases Market
- Regulatory Compliance: Stringent safety and environmental standards may hinder growth.
- High Conversion Costs: Production and storage costs pose challenges for some segments.
Competitive Landscape for Industrial Gases Market
| Company | Focus Areas |
|---|---|
| Air Liquide | Green hydrogen and medical gases |
| Linde Group | Industrial and energy solutions |
| Air Products and Chemicals | Decarbonization technologies |
| BASF SE | Advanced chemical applications |
Contact our advisory team to learn more about established and emerging players in this dynamic market.
Frequently Asked Questions for Industrial Gases Market Industry
Q1: What is the market size by 2035? The market is projected to reach US$ 159.19 billion by 2035.
Q2: Which product dominates the market? Oxygen leads the market with a share of 40%.
Q3: What are the growth regions? Asia Pacific, North America, and Europe are the key growth regions.
Q4: How are sustainability efforts influencing the market? Investments in green hydrogen and eco-friendly production processes are reshaping the industrial gas landscape.
Conclusion
The industrial gas market is on an upward trajectory, driven by sustainability, technological innovation, and expanding industrial applications.
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