Market Overview:
The industrial gases market is experiencing rapid growth, driven by Rising Demand from Healthcare Sector, Expansion of Manufacturing and Metal Fabrication, and Growth in Food and Beverage Applications. According to IMARC Group’s latest research publication, “Industrial Gases Market Size, Share, Trends and Forecast by Type, Application, Supply Mode, and Region, 2025-2033”, The global industrial gases market size reached USD 109.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 158.3 Billion by 2033, exhibiting a growth rate (CAGR) of 4.13% from 2025-2033.
This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.
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Our report includes:
- Market Dynamics
- Market Trends and Market Outlook
- Competitive Analysis
- Industry Segmentation
- Strategic Recommendations
Growth Factors in the Industrial Gases Market
- Rising Demand from Healthcare Sector
The healthcare sector represents one of the major growth markets for industrial gases, especially for oxygen, nitrogen and nitrous oxide. Oxygen is essential for respiratory therapies, and especially in hospitals that treat chronic respiratory conditions or when patients undergo surgical procedures. Nitrogen is prevalent in cryopreservation of biological samples, including stem cells or tissues. The increasing global aging population and advancements in medical technology have only increased the demand for these gases. An example of the gas industry's reliance on the healthcare sector is when the COVID-19 pandemic resulted in an enormous spike in demand for medical oxygen and the reliance on industrial gas suppliers to produce the gas. Many companies had to expand their production capabilities to fulfil an urgent requirement from the healthcare sector.
- Expansion of Manufacturing and Metal Fabrication
The industrial gases such as argon, acetylene and helium in manufacturing like automotive, aerospace and metal fabrication, are critical for welding, cutting and heat treatments. Industrialization globally, particularly in emerging economies such as India and Brazil, fuels the demand for industrial gases. As argon is a key element in TIG welding for high integrity impervious welds in stainless steel of automotive parts, it will be required in greater quantities as electric vehicle production increases, where precision manufacturing is necessary. Many companies, including Linde, have introduced new gas facilities to support gas supply to such industries in high-growth regions.
- Growth in Food and Beverage Applications
The food and beverage industry is leveraging industrial gases for the purpose of preservation, packaging, and processing at an ever-increasing rate. There is carbon dioxide in carbonated beverages, and in packaging, it extends shelf life through modified atmosphere packaging by reducing spoilage. There is also nitrogen used in freezing and chilling applications, preserving food quality when transporting food products. The high demand for packaged and frozen foods as people change their lifestyles and increase e-commerce, continues to feed into this trend. For example, major food and snack brands such as Nestlé use nitrogen to help preserve freshness in packaged snacks. Suppliers of industrial gases have developed tailored solutions, including on-demand, on-site gas generation systems for food and beverage manufacturers.
Key Trends in the Industrial Gases Market
- Shift Toward Sustainable Production Methods
Sustainability is disrupting the industrial gases sector as businesses implement sustainable production methods to mitigate carbon footprints. For example, hydrogen which is available from electrolysis using renewable energy sources is beginning to be recognized as a clean fuel source for industries such as steelmaking. Air Liquide has partnered with steelmakers in Europe to provide green hydrogen as a substitute for carbon-intensive processes. In addition to production processes using hydrogen, carbon-capture and carbon-utilisation technologies are being adopted in gas manufacture to mitigate process emissions. The growing investment in alternative clean energy sources aligns with international climate commitments and encourages gas producers to invest in commercial facilities which use renewable energy sources and recycle responsibly to meet regulatory and consumer expectation for sustainability.
- Adoption of Digitalization and IoT
The integration of digital technologies and the Internet of Things (IoT) is transforming the industrial gases market by enhancing operational efficiency and supply chain management. IoT-enabled sensors monitor gas storage and distribution systems in real-time, reducing waste and optimizing delivery schedules. For instance, Praxair (now part of Linde) uses smart telemetry systems to track cylinder inventories, ensuring timely refills for customers. Digital platforms also enable predictive maintenance for gas production plants, minimizing downtime. This trend is particularly impactful in industries like electronics, where precise gas delivery is critical for semiconductor manufacturing, driving demand for tech-driven gas solutions.
- Increasing Focus on On-Site Gas Generation
It is becoming increasingly common for industries to find cost effective ways of gas supply and on-site gas generation is a trend that is rapidly developing. With pressure swing adsorption (PSA) or membrane separation technologies, industries can produce nitrogen or oxygen on site, reducing the use of bulk deliveries. Generally, industries that experience this success have either a remote location or use a gas in much higher than normal volumes like a chemical plant would use. A good example of this trend is a large petrochemical facility in Saudi Arabia that received an on site nitrogen plant purchased from Air Products. By investing in their own on-site plant, they reduced their reliance on deliveries, and therefore the cost of logistics. In this case, an on site gas generator gave their operations flexibility. In general, this trend is in accordance with the other trend towards localized production, allowing an industry to run more efficient and resilient in their supply chain.
We explore the factors driving the growth of the market, including technological advancements, consumer behaviors, and regulatory changes, along with emerging industrial gases market trends.
Leading Companies Operating in the Industrial Gases Industry:
- Air Liquide S.A.
- Linde Group
- Air Products and Chemicals, Inc.
- Airgas, Inc.
Industrial Gases Market Report Segmentation:
By Type:
- Nitrogen
- Oxygen
- Carbon Dioxide
- Argon
- Hydrogen
- Others
Nitrogen dominates the market due to its versatile applications in preservation and purging, safety advantages, and ongoing production technology advancements enhancing purity levels.
By Application:
- Manufacturing
- Metallurgy
- Energy
- Chemicals
- Healthcare
- Others
Manufacturing leads the segment as industrial gases are essential for welding, cutting, and process optimization across multiple production industries.
By Supply Mode:
- Packaged
- Bulk
- On-site
Packaged gases hold significant share owing to their portability, convenience, and wide usage across diverse industrial and healthcare applications.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific accounts for the largest share, driven by rapid industrialization, manufacturing growth, and expanding healthcare infrastructure across emerging economies.
Research Methodology:
The report employs a comprehensive research methodology, combining primary and secondary data sources to validate findings. It includes market assessments, surveys, expert opinions, and data triangulation techniques to ensure accuracy and reliability.
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