Yahoo Finance Global Industrial Gases Market Size/Share Worth USD 134.3 Billion by 2030 at a 7% CAGR: Markets N Research (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth Rate, Value)
The global industrial gases market size was valued at USD 89.5 billion in 2021. The market is projected to grow from USD 89.5 billion in 2021 to USD 134.3 billion by 2028, exhibiting a CAGR of 7.00% during the forecast period.
Chicago, Nov. 29, 2022 (GLOBE NEWSWIRE) -- The global industrial gases market size is expected to exhibit strong growth by reaching USD 134.3 billion by 2028. As per the report titled "Industrial gases Market Size, Share & COVID-19 Impact Analysis, By Product (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Argon and Others), By Application (Healthcare. Manufacturing, Metallurgy & Glass, Food & Beverages, Retail, Chemicals & Energy and Others), By Distribution (On-site, Bulk (Liquid Gas Transport) and Cylinder (Merchant)) and Regional Forecasts, 2022-2028" observes that the market size in 2021 stood at USD 89.5 billion and USD 134.3 billion in 2028. The market is expected to exhibit a CAGR of 7.00% during the forecast period.
Market Overview
Industrial gases are produced as gaseous products to be used in various industrial production processes at ambient pressure and temperature. Among them are compounds, pure gases, and gas mixtures. Increases in the capacity of the world's oil and gas refineries and in the consumption of natural gas for domestic and commercial purposes are driving the market for industrial gases. Growing demand for industrial gases from important end-use industries like the oil and gas, petrochemicals, food and beverage, chemicals, and power industries.
Request a Sample Copy of the Industrial Gases Market Report: https://marketsnresearch.com/sample/1581
COVID-19 IMPACT
Due to operational disruptions brought on by a lack of labor and a decline in demand from end-use industries due to extensive lockdowns to stop the virus' spread, less money was invested in gases in the fiscal year 2020. The spread of the disease has also dramatically altered the demand for crude oil, resulting in record-low oil prices.
Notable Industry Development
April 2022: NITRO Crete, situated in Colorado, has been acquired by Cryogenic Industrial Solutions (CIS), according to the company. Stephen De Bever, NITRO Crete's current CEO, will continue to serve in that capacity.
Growth Factor
Rising Investment in the Manufacturing and Processing Sectors Will Drive Market Growth
Growing governmental and private financing, particularly in emerging countries, is anticipated to increase the size of the worldwide industrial gas market as companies look to expand into new industrial sectors like metallurgy, food & beverage, and mining & metal. For instance, According to the World Investment Report 2020, which UNCTAD published in June 2020, the total amount of foreign direct investment (FDI) that entered the Asia Pacific region in 2019 was around USD 474 billion, or more than 30% of the total amount of FDI that moved throughout the world. The organization also stated that Southeast Asian nations like Singapore and Malaysia are expected to rank among the top economies in the area, attracting new investment opportunities. These nations include China, India, and other Southeast Asian countries.
Click Here to Access a Free Sample Report of the Global Industrial Gases Market @ https://marketsnresearch.com/sample/1581
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the industrial gases market plan acquisitions to improve their brand recognition globally. For instance, in January 2021, the world's largest Proton Exchange Membrane electrolyzer plant will be built, owned, and run by Linde at the Leuna Chemical Complex in Germany. Through the company's current pipeline network, the new electrolyzer will supply industrial customers of Linde with low-carbon hydrogen.
List of Key Players Profiled in the Report
BASF SE
AIR LIQUIDE S.A.
Messer Group
Linde Plc
Taiyo Nippon Sanso
Southern Gas Ltd.
Universal Industrial Gases, Inc.
Gulf cryo, International Industrial Gases Limited
Goyal MG gases Pvt. Ltd.
Ellenbarrie Industrial Gases
Praxair Technology, Inc.
MVS Engineering Pvt. Ltd.
National Gases Ltd.
Air Products & Chemicals
Air Products Canada Ltd. Announced a Multi-billion Dollar Project to Construct a Net-Zero Hydrogen Energy Complex
In June 2021, a multi-billion dollar proposal to construct a net-zero hydrogen energy complex that lays out a strategy for Air Products to run Canada's green hydrogen network was unveiled by Air Products Canada Ltd., the Government of Canada, and the Province of Alberta.
Quick Buy- Industrial Gases Market Report: https://marketsnresearch.com/checkout/1581/1ecda5z5e4
Report Scope and Segmentation
Report Coverage | Details |
Forecast Period | 2022-2028 |
Forecast Period 2021 to 2028 CAGR | 7% |
2028 Value Projection | 134.3 billion |
Base Year | 2021 |
Market Size in 2021 | 89.5 billion |
Historical Data for | 2018 - 2021 |
Segments covered | By Product, By Application, By Distribution, and By Geography |
Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
Ask For Customization @ https://marketsnresearch.com/customization-request/1581
Segmentation of Global Industrial Gases Market
Global Industrial Gases Market – By Product
Oxygen
Nitrogen
Hydrogen
Carbon dioxide
Acetylene
Argon
Others
Global Industrial Gases Market – By Application
Healthcare
Manufacturing
Metallurgy & Glass
Food & Beverages
Retail
Chemicals & Energy
Others
Global Industrial Gases Market – By Distribution
On-site
Bulk (Liquid Gas Transport)
Cylinder (Merchant)
Ask For Discount @ https://marketsnresearch.com/buying-request/1581
Reduced Gas Demand as a result of Nationwide Lockdowns May Limit the Market Growth
Every business was negatively impacted by the sudden spread of the COVID-19 pandemic, which resulted in a global health catastrophe. Due to the reduction in operational time brought on by the absence of staff and the lower demand from end-use sectors due to the nationwide lockdown to stop the virus' spread, less money was invested in gases in the fiscal year 2020. The development of the disease has also drastically altered the demand for crude oil, resulting in new record high oil prices. Consequently, there is less demand for different gases across all end-use industries.
Regional Overview
Asia Pacific is projected to hold the largest industrial gas market share over the forecast period. This can be attributed to the growing demand for manufactured goods brought on by the region's large population and robust manufacturing sector, particularly in India, South Korea, China, and Japan, due to their competitive labor markets. Additionally, the less strict environmental rules than in Western nations are facilitating the expansion of the regional industry.
Further Report Findings
The market in Asia Pacific is expected to gain a huge portion of the global industrial gases market share in the coming years because of the growing need for industrial gases, a growing population and established market players.
The expansion of the end-use industries in China and India will also contribute to the growth of the regional market for industrial gases throughout forecasting.
In North America, the growth in this region is primarily driven because the healthcare and electronics industries are growing.
Download PDF Broucher @ https://marketsnresearch.com/sample/1581
Still, Looking for More Information? OR Want Data for Inclusion in Magazines, Case Studies, Research Papers or Media?
Email Directly Here with Detail Information: sales@marketsnresearch.com
About Markets N Research
When it comes to investing and money matters, you need the leading market research consultancy firm to help you make the right decisions during the toughest business questions and decisions. Markets N Research is the leading research company offering both tactical and strategic support to all our customers. Customer satisfaction is our goal and that is why, we have a team of skilled and experienced specialist with the ability to do data mining, information management, and revenue enhancement solutions to ensure that our clients make informed decisions when coming to investing in the market.
Markets N Research team is comprised of well skilled and equipped personnel ready to concur any upcoming challenges in the market sector for both individual people and organization around the world. We know time is money, and therefore we ensure we solve your problem within the shortest time possible to prevent delays or missing any opportunities. We use globally accepted techniques with a little innovation from our staff in solving all your market research related challenges.
Contact Us:
Markets N Research
US: +1-773-649-1529
Email:- sales@marketsnresearch.com
Website: https://marketsnresearch.com/
Follow on Linkedin: https://www.linkedin.com/company/markets-n-research
Follow on Twitter: https://twitter.com/marketsnr
Like us on Facebook: https://www.facebook.com/Markets-N-Research-108839598639025
Browse More Energy and Mining Industry Reports @ https://marketsnresearch.com/category/energy-and-power/48
Global Lithium Ion Battery Market by Product (Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Nickel Cobalt Aluminum Oxide (NCA), Lithium Manganese Oxide (LMO), Lithium Titanate, Lithium Nickel Manganese Cobalt), Application (Consumer Electronics {Smartphones & Tablet/P.C., UPS, Others} Automotive {Cars, Buses, & Trucks, Scooters & Bikes, Trains & Aircraft}, Industrial, Energy Storage System), Component (Cathode, Anode, Electrolytic Solution, Others), Capacity (0–3,000 mAh, 3,000–10,000 mAh, 10,000–60,000 mAh, 60,000 mAh and Above), Voltage (Low (Below 12V), Medium (12V – 36V), High (Above 36V)) and Region - Global Forecast to 2028
Steam Turbine Market by Design (Impulse, Reaction), Exhaust (Condensing, Non-condensing), Fuel (Fossil Fuel, Biomass, Geothermal), End Use (Industrial, Utility), Technology (Steam Cycle, Combined Cycle, Cogeneration) and Region - Global Forecast to 2028
Global Combined Heat & Power Installation Market by Types (Large Scale, Small Scale) and by End-Users/Application (Natural Gas, Coal, Biomass) Global Market Share, Forecast Data, In-Depth Analysis, and Detailed Overview, and Forecast, 2015 - 2027
Global Energy as a Service Market by Product Type (Supply Services, Demand Services and Energy Optimization Services) and by End-Users/Application (Commercial and Industrial) Global Market Share, Forecast Data, In-Depth Analysis, and Detailed Overview, and Forecast, 2020 - 2027
