Global Industrial Gases Market Size & Outlook, 2023-2030
Global industrial gases market, 2018-2030 (US$M)
Related Markets
Global industrial gases market highlights
- The global industrial gases market generated a revenue of USD 105,086.8 million in 2023 and is expected to reach USD 173,426.4 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 7.4% by 2030.
- In terms of segment, oxygen accounted for a revenue of USD 29,955.5 million in 2023.
- Nitrogen is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 105,086.8 million |
| Market revenue in 2030 | USD 173,426.4 million |
| Growth rate | 7.4% (CAGR from 2023 to 2030) |
| Largest segment | Oxygen |
| Fastest growing segment | Nitrogen |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Argon, Other Products |
Other key industry trends
- In terms of revenue, the North America accounted for 21.9% of the global industrial gases market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Brazil is the fastest growing regional market and is projected to reach USD 3,927.0 million by 2030.
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Industrial Gases Market Scope
Industrial Gases Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global industrial gases market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to industrial gases market will help companies and investors design strategic landscapes.
Oxygen was the largest segment with a revenue share of 28.51% in 2023. Horizon Databook has segmented the Global industrial gases market based on oxygen, nitrogen, hydrogen, carbon dioxide, acetylene, argon, other products covering the revenue growth of each sub-segment from 2018 to 2030.
The dependence of the electronics end-use market on industry gases has provided an alternate source of opportunity for the gases market, given the broad range of applications from flat-panel displays and semiconductors to LED lights and solar cells. Unlike petrochemical and metallurgy industry, the electronics end-use industry embraces suppliers to greater standards with regard to project experience, coverage and technical specifications.
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Target buyers of Global industrial gases market databook
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Our clientele includes a mix of industrial gases market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global industrial gases market , including forecasts for subscribers. This global databook contains high-level insights into Global industrial gases market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global industrial gases market size, by region, 2018-2030 (US$M)
Top 10 countries: Industrial gases market size, 2023 (US$M)
Global industrial gases market share, by product, 2023 & 2030 (%, US$M)
Industrial gases market: Opportunity assessment by country
Global industrial gases market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Latin America | 8,289.1 | 8,569.3 | 8,380.4 | 8,550.9 | 8,756.4 | 8,999.1 | 9,281.5 | 9,607.0 | 9,979.2 | 10,402.6 | 10,882.4 | 11,424.4 | 12,035.5 | 4.0% |
| Europe | 25,037.0 | 25,983.1 | 25,508.8 | 26,358.3 | 27,350.2 | 28,497.8 | 29,817.2 | 31,327.5 | 33,051.3 | 35,016.5 | 37,256.3 | 39,782.2 | 42,636.5 | 5.7% |
| North America | 20,113.4 | 20,871.3 | 20,488.2 | 21,209.7 | 22,050.3 | 23,024.0 | 24,144.9 | 25,430.0 | 26,899.2 | 28,576.2 | 30,430.9 | 32,484.3 | 34,763.2 | 5.7% |
| MEA | 4,270.5 | 4,443.6 | 4,374.0 | 4,488.1 | 4,632.3 | 4,809.3 | 5,022.4 | 5,275.4 | 5,573.4 | 5,922.3 | 6,329.3 | 6,803.1 | 7,354.2 | 6.0% |
| Asia Pacific | 32,190.6 | 33,629.2 | 33,234.4 | 35,047.4 | 37,204.5 | 39,756.7 | 42,768.4 | 46,319.1 | 50,508.6 | 55,460.1 | 61,327.7 | 68,305.2 | 76,637.0 | 9.1% |
| Overall | 89,900.6 | 93,496.6 | 91,985.7 | 95,654.3 | 99,993.7 | 105,086.9 | 111,034.3 | 117,959.0 | 126,011.8 | 135,377.7 | 146,226.6 | 158,799.2 | 173,426.4 | 7.4% |
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