Lucintel's latest market report analyzed that industrial gas provides attractive opportunities in the metal manufacturing and fabrication, healthcare, automotive and aerospace, electronics, energy, oil, and gas, food and beverage, pulp and paper, chemicals, and pharmaceutical and biotechnology end use industrie. The industrial gas market is expected to reach $XX billion by 2028 with a CAGR of 5% to 7%. In this market, oxygen is the largest segment by gas type, whereas healthcare is largest by end use industry.
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Based on gas type, the industrial gas market is segmented into nitrogen, oxygen, carbon dioxide, hydrogen, helium, argon, ammonia, methane, propane, butane, and others. The oxygen segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its wide usage in industries, increasing demand from healthcare institutions, and a wide usage for treatment of hazardous wastes and polluted waters.
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The Industrial Gas Market is marked by the presence of several big and small players. Some of the prominent players offering industrial gas include Air Liquide, Air Products & Chemicals, Messer Group, Taiyo Nippon Sanso, and The Linde Group.
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