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Global Industrial Gas Market Predicted to Exceed USD 158.19 Billion by 2034 Amid Surging Demand in Various End Use Industries | Future Market Insights, Inc.
The market is driven by the increasing use of industrial gas in the electronics (photovoltaic) industry to produce semiconductors, displays, solar, wafers, LED solid-state lighting, and polysilicon.
Solar photovoltaic energy, especially, is becoming a prominent source of sustainable energy generation. These gases are expected to reduce manufacturing costs, which are projected to raise demand for them in the upcoming period.
Frequent use of huge quantities of oxygen in the medical field to lower the risk of having too much oxygen in the lungs or any other body tissue during operations and for controlled ventilation is projected to fuel market growth.
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Leading players are spending huge amounts on research and development projects to develop better or new ways to produce and export industrial gases across the globe.
- opines Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Asia Pacific Dominates the Industrial Gases Market in 2023
In 2023, the Asia Pacific region led the industrial gases market, driven by the rising demand for hydrogen across various applications such as fuel cells , transportation, and industrial processes. Industrial gases—including oxygen, nitrogen, hydrogen, carbon dioxide, acetylene, carbon monoxide, and noble gases- are vital in many industrial production processes. These gases are utilized in diverse industries, including chemical manufacturing, steel production, metal fabrication, automobile and shipbuilding, semiconductor manufacturing, breathing and medicinal gases, food and beverage, and hydrogen energy.
Air Liquide S.A. is a French multinational firm that supplies industrial gases and services to multiple industries, such as chemical, medical, and electronic manufacturers. The company is a leading supplier of industrial gases with respect to revenues. The operations of this company is spread across 80 countries.
The Linde Group is a competent player in the global industrial gases and engineering company. Back in 2023, the company enjoyed a revenue of USD 33 Billion . The company aims to make the world more productive by assisting customers to become more successful and protect the planet.
Messer Group is a distributor of industrial gases. The company's business is concentrated in 30 European and Asian countries. The firm has an extensive range of gases including oxygen, nitrogen, helium, hydrogen, acetylene, etc.
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: https://www.futuremarketinsights.com/reports/industrial-gases-market
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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