Industrial Gases Market 2022

Industrial Gases Market Set for Robust Growth, Reaching US$ 150 Bn by 2029

NEW YORK, NEW YORK, UNITED STATES, September 27, 2022 /EINPresswire.com/ -- Industrial Gases Market 2022

According to a recent market study of Persistence Market Research (PMR), the industrial gases market will witness a robust CAGR during 2019 – 2029, reaching the value of US$ 150 Bn by the end of forecast period.

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Widely used in metal and ore processing, welding, food processing, healthcare, petrochemical, and various other industries, industrial gases continue to observe an impressive rate of consumption at a global level. Increasing steel production and expanding chemical industry are further creating significant demand for industrial gases.

Leading Players Account for over 3/5th Share in Industrial Gases Market

The industrial gases market is moderately consolidated on a global level, with leading players accounting for more than 60% of the overall market size as of 2018. However, significant fragmentation is witnessed in regions such as Asia Pacific, where local suppliers hold prominent market positions. 

Key Companies-

• Air Liquide S.A.
• Linde plc
• Air Products and Chemicals, Inc.
• Taiyo Nippon Sanso Corporation
• Messer Group GmbH
• India Glycols Ltd.
• Abdullah Hashim Industrial Gases & Equipment Co. Ltd
• Yateem Oxygen
• Buzwair Industrial Gases Factory
• Dubai Industrial Gases
• Gulf Cryo
• Ellenbarrie Industrial Gases Ltd.
• Bristol Gases – Concorde Corodex Group
• SICGIL INDIA LIMITED
• Buruka Gases Ltd.
• National Industrial Gas Plants - Mohammed Hamad Al Mana Group
• The Southern Gas Ltd.
• Tripti Gases Pvt. Ltd.
• Mohsin Haider Darwish LLC

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Key Takeaways - Global Industrial Gases Market Study

• Consumption of industrial gases is concentrated predominantly in metal fabrication production hubs. Oxygen holds a prominent market share with a significant CAGR, attributable to applications in metal manufacturing & fabrication.
• Industrial gases sales in Asia Pacific are estimated to increase at the fastest CAGR over the forecast period. Demand for industrial gases in the Asia Pacific region is largely led by increasing consumption in the metal manufacturing & fabrication industry.
• Most consumers from developing markets prefer to buy industrial gases that are supplied by local or domestic manufacturers. Their focus is on buying industrial gases that comply with safety and purity standards as per local regulations. Moreover, these domestic/local products are cost-effective, with simplified supply chain management.
• Governments of various countries are actively planning to install small and medium size industrial gases generation plants in hospitals in remote or rural areas.
• In India, in 2015, a 500 litres per minute (lpm) oxygen plant was commissioned in SMGS hospital in Jammu to avoid the problem of oxygen cylinder shortage in emergency conditions.

End users are shifting their preference towards high-purity industrial gases owing to production requirements and changing design standards. Manufacturers can gain profits from providing gases with value-based pricing without compromising on efficiency and quality of their offerings.

Increasing usage of oxygen gas in steel manufacturing is expected to propel growth of the industrial gases market. High demand for hydrogen from automotive sector for use as direct fuel or in fuel cells is anticipated to provide lucrative opportunities. Massive investments in infrastructural projects in Asia Pacific and rapidly growing industry across various sectors in Asia Pacific and North America are expected to boost the demand for industrial gases in these regions on a large scale.

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Find More About Industrial Gases Market Study

PMR, in its new research report, offers an unbiased analysis of the global industrial gases market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study reveals insights on the global industrial gases market. The report covers market dynamics, market share analysis, pricing analysis, and channel partners involved in the industrial gases market value chain. Readers can also find key trends and market growth scenarios based on gas type and application across North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa.

Industrial Gases Market - Report Highlights

• A detailed overview of parent market of Industrial Gases Market
• Changing Industrial Gases Market dynamics in the industry
• In-depth segmentation of Industrial Gases Market
• Historical, current, and projected Industrial Gases Market size regarding volume and value
• Recent industry trends and developments in Industrial Gases Market
• Competitive landscape of Industrial Gases Market
• Strategies for key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on Industrial Gases Market performance
• Must-have information for Industrial Gases Market players to sustain and enhance their market footprint

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