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The global industrial gases market reached a value of US$ 93.7 Billion in 2021.
According to the estimates by IMARC Group, the global industrial gases market is expected to exhibit a CAGR of 5.4% during 2022-2027.
The growing utilization of industrial gases across diverse industries, such as metallurgy, energy, manufacturing, chemicals, etc., represents one of the key drivers for the global industrial gases market.
The rising investments in several R&D activities to develop new and improved methods for production and distribution of industrial gases, represent one of the key trends in the global industrial gases market.
Oxygen, which is one of the most used industrial gases, is increasingly being adopted to provide artificial ventilation for patients suffering from coronavirus infection, thereby experiencing high demand in the healthcare sector.
On the basis of the type, the market has been classified into nitrogen, oxygen, carbon dioxide, argon, hydrogen, and others. Amongst these, nitrogen gas holds the largest market share.
On the basis of the application, the market has been classified into manufacturing, metallurgy, energy, chemicals, healthcare, and others. At present, the manufacturing sector exhibits a clear dominance in the market.
On the basis of the supply mode, the market has been classified into packaged, bulk, and on-site. Amongst these, packaged industrial gases currently account for the majority of the total market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
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