Industrial Gases Market Size to Hit USD 158.3 Billion, Globally, by 2033 at 4.13% CAGR

Market Overview:

The industrial gases market is experiencing rapid growth, driven by green hydrogen surge, specialty gases growth, and supply chain resilience. 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

Factors Affecting the Growth of the Industrial Gases Industry:

• Green Hydrogen Surge

The industrial gases market is experiencing an increasing demand for green hydrogen during a global decarbonization movement. Industries like steel, chemicals, and transportation are adopting hydrogen as a clean energy to decrease carbon footprint. Governments are working to encourage hydrogen production and usage through various incentives and investment into infrastructure, which also has the intention of facilitating production and its distribution network. The changing landscape of the market is resulting in companies innovating in order to expand their production of electrolysis-based hydrogen to meet increasing demand for the energy carrier in a sustainable way.

• Specialty Gases Growth

Specialty gases are on the rise of importance in electronics and healthcare because of their specific uses. The semiconductor industry wholly depends on ultra-pure gases when making chips, which can be attributed to their usage in advanced electronics and the demand for these electronics. In healthcare, medical gases including medical oxygen and nitrous oxide are used as treatment gases and as essential components in diagnostics. As science and technology evolve and more advances in medical technology are present, expanded use of gaseous alternatives that are customized with high purity is emerging. Therefore, there is growth opportunity in the marketplace for suppliers that focus on precision.

• Supply Chain Resilience

The industrial gases market is presently focused on resilience of the supply chain. In light of disruptive events, companies have become aware of their own supply chains and the need to ensure geographic diversification of sources of supply, as well as having domestic manufacturing capabilities so that they can provide steady supply to their respective manufacturing and energy industries. Companies are starting to utilize digital tools related to logistics and inventory management, including digital and predictive analytics, and the IoT. The reliability from geographic diversification in the supply chain also provide enhanced reliability to the overall market, with companies being able cover steady demand from their customers while there are negotiations on the geopolitical and economic fronts.

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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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About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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