1. What is the projected Compound Annual Growth Rate (CAGR) of the Industrial Gases Market?
The projected CAGR is approximately 5.4%.
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Industrial Gases MarketIndustrial Gases Market by Gas Type (Oxygen, Nitrogen, Carbon Dioxide, Hydrogen, Argon, Others), by Application (Packaging, Coolant, Carbonation, Cryogenic, Cutting & Welding, Laboratory, Air Separation, Others), by End User (Metallurgy, Healthcare, Chemical, Food, Beverages, Oil & Gas, Power, Pulp, Paper, Electronics, Water Treatment, Mining, Others), by By Geography (North America), by Europe (By Gas Type, By Application, By End-User, By Country), by Asia Pacific (By Gas Type, By Application, By End-User, By Country), by Latin America (By Gas Type, By Application, By End-User, By Country), by The Middle East and Africa (By Gas Type, By Application, By End-User, By Country) Forecast 2026-2034
The Industrial Gases Market size was valued at USD 88.05 USD Billion in 2023 and is projected to reach USD 127.24 USD Billion by 2032, exhibiting a CAGR of 5.4 % during the forecast period. Industrial gases are a diverse range of gases produced for use in various industrial processes. They are essential for manufacturing, chemical production, and energy sectors. The main types of industrial gases include oxygen, nitrogen, argon, carbon dioxide, and hydrogen. Each type has distinct features and applications: Oxygen supports combustion and is used in steelmaking and medical treatments; Nitrogen is used for inert atmospheres and refrigeration; Argon is employed in welding and as a shielding gas; Carbon dioxide is utilized in beverage carbonation and as a refrigerant; Hydrogen is a key component in fuel cells and hydrogenation processes. These gases are critical for operations across multiple industries, enabling efficient and innovative production methods.
Industrial Gases Trends
Gas Type:
Application:
End User:
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 5.4% from 2020-2034 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 5.4%.
Key companies in the market include Air Liquide (France), Air Products (United States), Linde (Ireland), Matheson Tri-Gas (United States), Messer Group (Germany), Gulf Cryo (Kuwait), BASF (United States), Southern Company Gas (United States), Universal Industrial Gases (United States), Ellenbarrie Industrial Gases Ltd (India), Bhuruka gases ltd (India), Concorde-Corodex Group (UAE), Dubai Industrial Gases (UAE), Bristol Gases (UAE).
The market segments include Gas Type, Application, End User.
The market size is estimated to be USD 88.05 USD Billion as of 2022.
Growing Focus on Safety and Organization to Fuel Market Growth.
Growth of IT Infrastructure to Bolster the Demand for Modern Cable Tray Management Solutions.
Stringent Laws and Regulations for Manufacturing. Storage. and Distribution of Gases to Restraint Growth.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in K Tons .
Yes, the market keyword associated with the report is "Industrial Gases Market," which aids in identifying and referencing the specific market segment covered.
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