How Big is the Industrial Gases Market in India?

13-Aug-2025

The India industrial gases market size was worth USD 3.56 Billion in 2024, projected to reach USD 6.82 Billion by 2033, at a CAGR of 7.12% during 2025–2033. This growth is driven by the rising demand for clean energy, decarbonization technologies, and the increasing need for gases like hydrogen, oxygen, and carbon dioxide in energy-efficient systems.

In addition, the market is propelled by the growing demand from the steel and refining industries and increased government funding in research and development (R&D) activities. Key trends include technological advancements, local gas production initiatives, and green hydrogen infrastructure development aimed at achieving net-zero emissions targets.

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India Industrial Gases Market Analysis 2025-2033:

Key Takeaways

The India industrial gases market was valued at USD 3.56 Billion in 2024.
The market is forecast to reach USD 6.82 Billion by 2033.
The market is projected to grow at a CAGR of 7.12% between 2025 to 2033.
East India currently dominates due to high demand from the steel and refining industries.
Nitrogen held a 32.0% market share in 2024 among all gas types.
The manufacturing sector accounted for the largest application share in 2024 with a share of 45.8%.
Packaged supply mode represented 55.3% of the market share in 2024.
Increased infrastructure investments and rapid urbanization continue to drive industrial gas demand.
Innovations in green hydrogen and cryogenic storage systems are propelling market development.

What are the Key Trends Driving Growth in the India Industrial Gases Market?

Rise in Clean Hydrogen Initiatives: Facilities like Indian Oil’s green hydrogen plant in Panipat signal a shift toward substituting fossil-derived gases with cleaner alternatives.
Healthcare Infrastructure Expansion: Demand for medical gases is growing, spurred by increased investment in rural healthcare and pharmaceutical production.
On-site Gas Generation: Widespread adoption of on-site generation systems enhances supply efficiency and reduces logistics costs.
Digitalization and Monitoring: Increased use of remote monitoring and automated systems is ensuring reliable gas supply and operational safety.

What is the Role of Cryogenic Storage Technology Transforming the India Industrial Gases Industry?

Cryogenic storage systems are transforming gas handling by enabling safer and more efficient storage of oxygen, nitrogen, and argon. Innovations like the patented cryogenic system by INOX India Ltd offer improved insulation and storage performance. These advancements support industrial and medical gas requirements and align with energy-efficiency goals.

Segment Insights:

Which Type Dominated in 2024?

The market is segmented into nitrogen, oxygen, carbon dioxide, argon, hydrogen, and others. Nitrogen dominated the market in 2024 with a 32.0% share. Its use spans pharmaceuticals, chemicals, food packaging, and electronics due to its inert nature and ability to preserve quality through blanketing and purging.

Which Application Segment Led in 2024?

Based on application, the market is divided into manufacturing, metallurgy, energy, chemicals, healthcare, and others. The manufacturing sector held the largest share at 45.8% in 2024. Industrial gases like oxygen, nitrogen, and argon are essential in welding, cutting, and synthesis. Demand is supported by expansion in steel, electronics, and automotive sectors.

What is the Market Breakup by Supply Mode?

The supply mode segments covers packaged, bulk, and on-site. Packaged gases held a 55.3% share in 2024. Their convenience and suitability for SMEs and decentralized operations make them dominant.

Regional Analysis:

Region	Core Demand Hubs	Primary Gases	Key End-Uses	Notable Recent Developments
East India	Odisha, Jharkhand, West Bengal	O2, N2, Ar, H2	Steel, power, chemicals, healthcare	Linde–Tata Steel ASU contracts in Odisha to expand O2/N2/Ar supply (2024–25)
West & Central India	Gujarat, Maharashtra, Rajasthan, MP	O2, N2, Ar, CO2, H2	Refining, chemicals, paints/polymers, glass, auto & components	Linde pipeline deal to Asian Paints (Dahej, Gujarat); INOX green H2 at AIS Glass (Rajasthan)
South India	Tamil Nadu, Karnataka, Telangana, Kerala	O2, N2, Ar, specialty gases	Electronics, auto, pharma/biotech, food processing	Pune Gas experience centre in Kochi to scale safer/automated LPG & natural gas solutions
North India	Uttar Pradesh, Haryana, Delhi NCR, Punjab	O2 (medical & industrial), N2, Ar	Metals, general manufacturing, healthcare	Air Liquide ASU at Mathura, UP (50 TPD) supporting industry & medicine

Recent Developments:

Pune Gas opened its LPG & Natural Gas Experience Centre in Kochi, Kerala in May 2025. The center offers advanced industrial gas solutions designed to make the use of commercial LPG and natural gas safer, more efficient, and automated.
INOX Air Products launched its first green hydrogen facility at Asahi India Glass's Rajasthan plant in March 2025, initiating a long-term supply of up to 190 tons annually.
Linde India signed a long-term pipeline gas delivery agreement with Asian Paints in March 2025 and is developing a new air separation unit at its Gujarat site.
Air Liquide commissioned its sixth industrial gases plant in India in August 2024, located in Mathura, with an investment of INR 250 Crore to supply oxygen, nitrogen, and argon daily.

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