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The India industrial gases market reached a value of US$ 2.8 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 11.3% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Also known as fuel, medical, refrigerant and specialty gases, industrial gases are mass-produced for different industrial purposes. These gases, especially oxygen and helium, are widely used in the medical sector for supporting artificially ventilated patients. Moreover, hydrogen finds application in the transportation industry and liquid-helium is utilized in magnetic resonance imaging (MRI) equipment. At present, the rapidly expanding end use sectors, such as steel manufacturing, pharmaceuticals, healthcare, and food and beverage (F&B), are positively influencing the demand for industrial gases in India.
The well-organized refining and steel manufacturing sectors represent one of the key factors strengthening the growth of the industrial gases market in India. Apart from this, the Government of India is significantly investing in various research and development (R&D) projects to support numerous sectors, which, in turn, is contributing to the market growth. However, the coronavirus disease (COVID-19) outbreak, consequent lockdown in the country and temporary closure of various manufacturing units has negatively influenced the market growth. The market will experience growth once normalcy is regained.
IMARC Group provides an analysis of the key trends in each sub-segment of the India industrial gases market, along with forecasts at the country and regional level from 2021-2026. Our report has categorized the market based on type, application and supply mode.
Breakup by Type:
Breakup by Application:
Breakup by Supply Mode:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2020|
|Segment Coverage||Type, Application, Supply Mode, Region|
|Region Covered||North India, West and Central India, South India, East India|
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The India industrial gases market was valued at US$ 2.8 Billion in 2020.
We expect the India industrial gases market to exhibit a CAGR of 11.3% during 2021-2026.
The increasing utilization of industrial gases across several end use sectors, such as steel manufacturing, pharmaceuticals, healthcare, food and beverages, etc., is currently driving the India industrial gases market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for industrial gases across the nation, especially oxygen in the healthcare sector to support coronavirus infected patients with low oxygen levels.
Based on the type, the India industrial gases market can be segmented into nitrogen, oxygen, carbon dioxide, argon, hydrogen, and others. Among these, oxygen currently holds the majority of the total market share.
On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where West and Central India currently dominates the Indian market.
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