LONDON, UK, Feb. 28, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Industrial Gases Market by Type (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Argon, and Others), By Application (Healthcare, Manufacturing, Metallurgy & Glass, Food & Beverages, Retail, Chemicals & Energy, and Others), and Distribution Channel (On-Site, Bulk, and Cylinder), By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” in its research database.
“According to the latest research study, the demand of global Industrial Gases Market size & share was valued at approximately USD 97 Billion in 2020 and is expected to generate revenue of around USD 130 Billion by end of 2026, growing at a compound annual growth rate (CAGR) of around 5.2% between 2021 and 2026.”
The COVID situation and the economic downturn have changed the market statistics for the whole world. This is a professional and comprehensive report about the main and secondary drivers of the industrial gases market, as well as market share, leading segments, production, and geographic analysis (such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa.)
What are Industrial Gases? How big is the Industrial Gases Market?
- Market Overview & Coverage:
Industrial gases are gases that are produced in huge quantities for use in manufacturing processes. Depending on their application in various industries, these gases are recognized for their uses as refrigerant, medicinal, specialty gases, and fuel. Some industrial gases, such as oxygen and helium, are utilized in life support systems and contemporary anesthetic techniques for artificially ventilated patients. Hydrogen is utilized in transportation, whereas oxygen is used in gasification plants, hospitals, and steel mills. In magnetic resonance imaging (MRI) equipment, liquid helium is also utilized to cool superconductive magnet coil scanners.
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(The free sample of this report is readily available on request).
Our Free Sample Report Includes:
- 2021 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 230+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2021 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Prominent Vendors in the Market:
- Linde plc
- SOL Group
- INOX Air Products Ltd.
- India Glycols Ltd.
- Yateem Oxygen
- Taiyo Nippon Sanso Corporation
- Dubai Industrial Gases
- Sicgil India Limited
- Mohammed Hamad Al Mana Group
- Tripti Gases Pvt. Ltd.
- Air Liquide
- Air Products and Chemicals Inc.
- Ellenbarrie Industrial Gases Ltd.
- Iwatani Corporation
- Abdullah Hashim Industrial Gases & Equipment Co. Ltd
- Buzwair Industrial Gases Factory
- Gulf Cryo
- Bristol Gases – Concorde Corodex Group
- Bhuruka Gases Ltd.
- The Southern Gas Ltd.
- Mohsin Haider Darwish LLC
Key Insights from Primary Research:
- As per the analysis shared by our research team, the Industrial Gases market is rising at a CAGR of approximately 5.2% between 2021 and 2026.
- Through primary research, it was established that the Industrial Gases market was worth USD 97 billion in 2020 and is expected to generate revenue of around USD 130 billion by 2026.
- Alternative Energy Sources are becoming exceptionally important.
- Oxygen was the most profitable type, with a revenue market share of approximately 30%.
- The cylinder led the distribution channel category in 2020, accounting for over 35% of total revenue.
- On the basis of region, The Asia Pacific market is expected to grow significantly in the next years as a result of rising demand from end-user industries.
Key questions answered in this report:
- What is the size of the Industrial Gases market and what is its expected growth rate?
- What are the primary driving factors that push the Industrial Gases Market forward?
- What are the Industrial Gases Industry's top companies?
- What are the different categories that the Industrial Gases Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Industrial Gases Market sample report and company profiles?
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Global Industrial Gases Market Dynamics
- Alternative Energy Sources are becoming extremely relevant
- Demand from the Healthcare Industry is increasing
The number of production facilities generating various types of industrial gases for various sectors is increasing as industrial activity grows. This drives the industrial gas market in both developing and established countries. Due to the fast expansion of infrastructure and building activities in emerging countries, industrial gases such as cutting and welding gases are in great demand in metalworking and welding applications. The discharge of industrial gases into the atmosphere also contributes to global warming and ozone depletion. As a result, manufacturers and regulatory agencies have challenges in avoiding and embracing natural-based industrial gases, as well as the need for highly trained staff when handling flammable gases. Climate change, rising healthcare costs, rising energy costs, and growing infrastructure projects have all heightened awareness of the need for sustainable industrial gases.
Report Scope
| Report Attribute | Details |
| Market Size in 2020 | USD 97 Billion |
| Projected Market Size in 2026 | USD 130 Billion |
| CAGR Growth Rate | 5.2% |
| Base Year | 2020 |
| Forecast Years | 2021-226 |
| Key Market Players | Linde plc, SOL Group, INOX Air Products Ltd., India Glycols Ltd., Yateem Oxygen, Taiyo Nippon Sanso Corporation, Dubai Industrial Gases, and Others |
| Key Segments | Type, Application, Distribution Channel, and Regions |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Market Segmentation for Industrial Gases
The global industrial gases market is divided based on type, application, distribution channel, and region.
- Oxygen led the type category with a revenue market share of around 30%
The market is divided into nitrogen, carbon dioxide, argon, oxygen, hydrogen, acetylene, and other types based on type. With a revenue market share of about 30% in 2020, oxygen led the type category. This is due to increasing demand from healthcare institutions throughout the world as a result of the COVID-19 epidemic. The treatment of hazardous wastes and polluted waters, as well as the coal gasification process, all use oxygen. The gas can also be used to replace chlorine in the pulp and paper industry to reduce pollution. Oxygen is also often utilized in medical procedures.
The market is divided into manufacturing, food & beverages, chemicals & energy, healthcare, metallurgy & glass, retail, and others, depending on the application. In 2020, the manufacturing category had a revenue market share of about 27%, and it is expected to increase at a substantial rate in the following years. The demand for industrial gases such as hydrogen, carbon dioxide, oxygen, and nitrogen is anticipated to rise considerably in emerging nations due to the growth of manufacturing sectors in Brazil, India, South Korea, and China. The growing need for advanced industrial gases in the electronics sector is anticipated to accelerate this segment's growth.
- With a revenue share of almost 35% in 2020, the cylinder dominated the distribution channel category
The market is divided into three categories based on the distribution channel: cylinder, bulk, and on-site. In 2020, the cylinder dominated the distribution channel category with a revenue share of about 35%. However, in the future years, on-site is expected to increase quickly. The sector is expected to grow considerably since on-site generation avoids several difficulties connected with hydrogen transportation and distribution. On-site hydrogen generation has become more popular among small businesses as new technologies have become more cost-effective than previously available scattered methods.
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Regional Dominance:
- Asia Pacific Market is projected to Grow significantly in the Upcoming Years due to Increasing Demand from End-User Industries
With a revenue share of about 35 percent in 2020, the Asia Pacific region led the industrial gases market, and this dominance is expected to continue in the following years. Increased demand for industrial gases is being driven by the region's developing and developed economies, including India, China, Japan, and South Korea. One of the key reasons for the Asia Pacific industrial gases market is the rising demand from end-user industries in these nations. The aerospace sector requires high-quality gas solutions, and the region's increasing aerospace industry is driving the industrial gas market.
In 2020, China led the Asia Pacific market. Growing demand for iron and steel from a range of sectors, as well as new steel ventures, are expected to expand the usage of mechanical gas generating units to satisfy the mass requirements for contemporary gases, as well as government initiatives to encourage the industrial sector. Growing economies such as India and China are expected to provide attractive possibilities for the Asia Pacific industrial gases industry.
Developments in the Past Years
- Air Products Inc. began operations at its new cryogenic nitrogen factory in Bayan Lepas, Malaysia, in February 2021, which has the potential to substantially expand the company's operations.
- With the intention of meeting the growing demand for industrial gases in Saudi Arabia, Linde PLC announced in December 2020 that it would enter into an equal-share joint venture with Sahara International Petrochemical Company (Sipchem) with the intention of establishing production and supply systems.
Browse the full report “Industrial Gases Market by Type (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Argon, and Others), By Application (Healthcare, Manufacturing, Metallurgy & Glass, Food & Beverages, Retail, Chemicals & Energy, and Others), and Distribution Channel (On-Site, Bulk, and Cylinder), By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” at https://www.fnfresearch.com/industrial-gases-market
The global industrial gases market is segmented as follows:
By Type:
- Oxygen
- Nitrogen
- Hydrogen
- Carbon Dioxide
- Acetylene
- Argon
- Others
By Application:
- Healthcare
- Manufacturing
- Metallurgy & Glass
- Food & Beverages
- Retail
- Chemicals & Energy
- Others
By Distribution Channel:
- On-Site
- Bulk
- Cylinder
Key Offerings:
- Market Size, Share & Forecast by Revenue | 2021−2026
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Type, Application, Distribution Channel, and Regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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