Saudi Arabia Industrial Gases Market Size & Outlook
Saudi Arabia industrial gases market, 2018-2030 (US$M)
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Saudi Arabia industrial gases market highlights
- The Saudi Arabia industrial gases market generated a revenue of USD 1,194.0 million in 2023 and is expected to reach USD 1,711.3 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 5.3% from 2024 to 2030.
- In terms of segment, oxygen was the largest revenue generating product in 2023.
- Nitrogen is the most lucrative product segment registering the fastest growth during the forecast period.
Industrial gases market data book summary
| Market revenue in 2023 | USD 1,194.0 million |
| Market revenue in 2030 | USD 1,711.3 million |
| Growth rate | 5.3% (CAGR from 2023 to 2030) |
| Largest segment | Oxygen |
| Fastest growing segment | Nitrogen |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Argon, Other Products |
| Key market players worldwide | Air Liquide SA, Air Products & Chemicals Inc, Iwatani Corp, Linde PLC, StealthGas Inc, Nippon Sanso Holdings Corp |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 1.1% of the global industrial gases market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia industrial gases market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 1,060.0 million by 2030.
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Industrial Gases Market Scope
Industrial Gases Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia 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 29.3% in 2023. Horizon Databook has segmented the Saudi Arabia 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.
Growing demand for refinery products is expected to drive oil & gas production in the region over the long term. An increase in demand for crude oil and natural gas in Saudi Arabia is further anticipated to boost global onshore projects over the long term.
Harsh conditions, such as dry environment, desert topography, and extreme temperatures, have compelled industry participants to come up with innovative lubricants and cooling agents to protect equipment and also to increase their lifespan.
The rapid expansion of the oil & gas refineries in Saudi Arabia is, therefore, projected to propel market growth. Food & beverages is also among promising end-use segments for industrial gases market in Saudi Arabia.
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Target buyers of Saudi Arabia 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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia industrial gases market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia industrial gases market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia industrial gases market size, by product, 2018-2030 (US$M)
Saudi Arabia Industrial Gases Market Outlook Share, 2023 & 2030 (US$M)
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