Market Research Reports, Business Consulting Services & Analytics

The Industrial Gases Market size is estimated to reach US$130.8 billion by 2027, after growing at a CAGR of 5.3% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, November 1, 2022 /EINPresswire.com/ -- The Industrial Gases Market size is estimated to reach US$130.8 billion by 2027, after growing at a CAGR of 5.3% during the forecast period 2022-2027. Industrial gases are gaseous materials such as oxygen, acetylene, methane, carbon dioxide, hydrogen sulfide, fluorine, nitrogen trifluoride, and others, that are produced in large quantities for usage in the industry. The increasing application of industrial gases for metal cutting, welding, gas transportation in healthcare, and others creates a drive in the Industrial Gases Market. Furthermore, the increasing demand for high purity gas over various chemical ingredients in food and beverage, healthcare, and power generation applications is anticipated to offer a major growth in the industrial gases industry. The Covid-19 hampered the demand and growth of the Industrial Gases Market due to factors such as logistics restrictions, closure of manufacturing activities, demand and supply gap, and other lockdown regulations, thereby resulting in a decline in demand for industrial gases across major industries. Furthermore, with the bolstering growth and recovery in the market, the application of industrial gases flourished. Therefore, the Industrial Gases Market is anticipated to grow rapidly during the forecast period.

Click here to browse the complete report summary:
https://www.industryarc.com/Report/15513/industrial-gas-market.html

Key takeaways:

This IndustryARC report on the Industrial Gases market highlights the following areas -

1. Asia-Pacific dominates the Industrial Gases Market, owing to its flourishing base for major industries such as healthcare, automotive, construction, and others. The advancements in the production base for industrial gases and the high demand for utility and specialty gases in APAC are boosting the growth of industrial gases in the Asia-Pacific region.

2. The demand for industrial gases such as oxygen, carbon dioxide, nitrogen, and others in the healthcare sector is increasing due to vast applications in medical devices, inhalation therapy, welding, and others, thereby boosting the applicability of industrial gases in the healthcare industry.

3. Oxygen gas has major demand in the Industrial Gases Market, owing to its wide range of applications in medical and healthcare, metal fabrications, construction, aerospace, and others, which is anticipated to boost its demand in the market during the forecast period.

4. However, the hazards associated with various industrial gases such as methane, carbon dioxide, and others such as global warming, air pollution, and contamination is acting as a challenge for the industrial gases industry.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=15513

Segmental Analysis:

1. The oxygen segment held the largest share in the Industrial Gases Market in 2021 and is forecasted to grow at a CAGR of 5.6% during the forecast period 2022-2027. The high demand for oxygen gas is high due to its requirement as raw material for oxidizing and life-saving features, and its flourishing applicability in the medical sector compared to other industrial gases.

2. The Healthcare segment held a significant share in the Industrial Gases Market in 2021 and is forecasted to grow at a CAGR of 6.3% during the forecast period 2022-2027. The usage of medical gases offers lifesaving benefits and is regulated as drugs; thereby having major demand in the healthcare industry. The medical and healthcare infrastructure development is boosting the growth in the market. According to the Economic Survey 0f 2022, the public expenditure on the healthcare sector in India stood at 2.1% of GDP in 2021-22 against 1.8% of GDP in the year 2020-21.

3. Asia-Pacific region held the largest share in the Industrial Gases Market in 2021 up to 39%. The growth of the automotive industry in the Asia-Pacific also contributes to the high demand for industrial gases such as oxygen, methane, acetylene, nitrogen, and others.

Competitive landscape:

The top 5 players in the Industrial Gases industry are:

1. Air Liquide S.A.
2. BASF SE
3. Universal Industrial Gases
4. Messer Group
5. Air Products

Click on the following link to buy the Industrial Gases Market Report:
https://www.industryarc.com/reports/request-quote?id=15513

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Specialty Gas Market
https://www.industryarc.com/Report/15084/specialty-gas-market.html

B. South East Asia Industrial Gases Market
https://www.industryarc.com/Report/19141/south-east-asia-industrial-gases-market

Contact Us:

Mr. Venkat Reddy
IndustryARC
Email: venkat@industryarc.com, sales@industryarc.com
USA: (+1) 970-236-3677, (+1) 815-656-4596
IND: (+91) 40-485-49062

Venkat Reddy
IndustryARC
+1 614-588-8538
venkat@industryarc.com
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.