Delivering more actionable and strategically valuable research, The Business Research Company’s 2026 market reports feature market attractiveness analysis, total addressable market evaluation, company benchmarking matrices, interactive Excel dashboards, expanded supply chain intelligence, emerging startup coverage, and detailed product insights.
Industrial Gases Market Size Outlook: How Fast Will Revenue Grow Through 2030?
The industrial gases market has experienced considerable growth recently. Forecasts indicate it will grow from $110.87 billion in 2025 to $118.6 billion by 2026, marking a compound annual growth rate (CAGR) of 7.0%. This historical expansion is linked to the spread of metal fabrication industries, advancements in healthcare infrastructure, increased demand from food and beverage processing, greater use in chemical manufacturing, and the presence of air separation technologies.
The industrial gases market is expected to experience significant expansion in the coming years. Forecasts indicate it will reach $155.96 billion by 2030, showing a compound annual growth rate (CAGR) of 7.1%. This projected growth is driven by several factors, such as rising investments in the hydrogen economy, increased semiconductor fabrication, greater adoption of renewable energy, a sharp rise in the need for medical gases, and a stronger emphasis on low-emission industrial processes. Key trends foreseen for this period include a growing requirement for high-purity industrial gases, their expanded use in semiconductor production, wider applications of hydrogen, increased incorporation into healthcare services, and a heightened focus on energy-efficient methods for gas production.
Download A Free Sample Report For Comprehensive Market Insights:
#Industrial Gases Market Demand Drivers Creating New Revenue Opportunities
The expanded utilization of industrial gases within the oil and gas industry is projected to drive the future growth of the industrial gases market. The oil and gas industry is a worldwide sector involved in the exploration, extraction, refining, transportation, and distribution of petroleum products, encompassing activities related to crude oil, natural gas, and various hydrocarbon derivatives. Industrial gases are increasingly employed in the oil and gas industry for multiple purposes, such as boosting production, implementing gas lift techniques to enhance oil extraction, and using gas purging and blanketing processes for safety in refining. Additionally, these gases are vital for inerting to prevent explosions, gas detection to ensure a safe working environment, cryogenic applications in the storage and transportation of natural gas, and for welding and cutting processes. For example, in June 2023, data released by the Energy Information Administration, a US-based federal statistical and analytical agency, indicated that global oil demand is anticipated to increase by 6% between 2022 and 2028, reaching 105.7 million barrels per day. Simultaneously, global upstream investments in oil and gas exploration, extraction, and production are set to grow 11% year-on-year to a record USD 528 billion in 2023. Consequently, the rising application of industrial gases in the oil and gas industry is propelling the growth of the industrial gases market.
Industrial Gases Market Segmentation: How Is The Market Structured Across Key Categories?
The industrial gases market covered in this report is segmented –
1) By Product: Oxygen, Nitrogen, Hydrogen, Carbon dioxide, Acetylene, Argon
2) By Application: Packaging, Coolant, Carbonation, Cryogenic, Cutting And Welding, Laboratory, Air Separation, Other Applications
3) By Distribution: On-Site, Bulk, Cylinder
4) By End User: Metallurgy, Healthcare, Chemical, Food And Beverage, Oil And Gas, Power, Pulp And Paper, Electronics, Other End Users
Subsegments:
1) By Oxygen: Medical Oxygen, Industrial Oxygen, High-Purity Oxygen
2) By Nitrogen: Liquid Nitrogen, Gaseous Nitrogen, Nitrogen For Food Preservation
3) By Hydrogen: Hydrogen For Fuel Cells, Hydrogen For Refining, Industrial Hydrogen
4) By Carbon Dioxide: Liquid Carbon Dioxide, Dry Ice, Carbon Dioxide For Beverage Carbonation
5) By Acetylene: Acetylene For Welding, Acetylene For Chemical Synthesis
6) By Argon: Argon For Welding, Argon For Lighting And Electronics, High-Purity Argon
Industrial Gases Market Trends Driving Strategic Industry Expansion
Major corporations within the industrial gases market are prioritizing the creation of advanced instruments, specifically industrial gas detectors, to enhance workplace safety and boost their market profitability. An industrial gas detector is a specialized device crafted to monitor and pinpoint the existence of particular gases within industrial environments. For instance, in December 2023, CO2Meter, a US-based enterprise focused on designing and producing scientific instruments, launched its CM-900 industrial gas detector. This instrument is engineered to assess oxygen or carbon dioxide (CO2) levels, ensuring the security of personnel operating near hazardous gases. The CM-900 features an environmentally adaptable industrial casing suited for demanding and wash-down settings, and it includes both audible and visual warnings to indicate unsafe conditions.
Industrial Gases Market Competitive Landscape And Leading Companies
Major companies operating in the industrial gases market are Linde, Air Liquide, Air Products and Chemicals, Messer Group, Taiyo Nippon Sanso, Air Water, Matheson Tri-Gas, Gulf Cryo, Yingde Gases, Praxair, Nippon Sanso, BASF, SOL Group, Ellenbarrie Industrial Gases, INOX Air Products, Airgas, Universal Industrial Gases, Showa Denko, Iwatani Corporation, Taiyo Yuden
Access The Complete Industrial Gases Market Report:
Industrial Gases Market Geographic Landscape: Which Region Dominates Industry Growth?
Asia-Pacific was the largest region in the industrial gases market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial gases market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Get in touch with us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas: +1 310-496-7795
Asia: +44 7882 955267 & +91 8897263534
Europe: +44 7882 955267
Email us at: marketing@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.