Industrial Gases Market:
The GMI Research expects the industrial gases market to expand at a higher rate. From a regional perspective, Asia-pacific is projected to lead the market due to the emerging demand for iron and steel across several sectors and the upcoming steel venters and government initiatives.
Industrial Gases Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The rising application of industrial gases in the oil & gas industry is one of the key drivers, which is responsible for supplementing the growth of the industrial gases market size in upcoming years. The increasing demand for crude oil and the growing requirement for refining has increased the application of these industrial gases in the oil & gas industry at a large, specifically for downstream & upstream applications, which include inspection maintenance, and leak testing. According to the industrial gases market report, the increasing rate of urbanization and rapid industrialization are other factors driving the growth of the market. It is witnessed that there has been a substantial increase in the demand from consumers. For example, according to the Central Intelligence Agency, nations such as China, India, Malaysia, and Vietnam accounted for an urban population of 60.3%, 34.5%, 76.6%, and 36.6% for 2019 with an increasing rate of 2.4%, 2.4%, 2.1%, and 3% respectively. These factors are substantially contributing to the growth of the global industrial gases market share in terms of revenue.
As per the industrial gases market analysis, there has been an increase in the investments from the industrial sector, which includes metallurgy, electronics, food & beverage, metals & mining, majorly in the emerging countries, which has provided a significant increase in the growth of the market. As per UNCTAD, in 2018, the total investment of the Asia-Pacific region amounted to USD 476 billion. Thus, the growth rate of investments from the manufacturing and processing sector is one of the emerging industrial gases market trends that is augmenting the demand for industrial gases. According to the industrial gases market outlook, the healthcare and food & beverage industry have experienced high investments to bring innovation and enhancement in the sectors. These factors play a critical role in surging the growth of the global industrial gases market. However, the strict laws and regulations related to the storage, manufacturing, and distribution of industrial gases might restrain the growth of the global industrial gases market.
Industrial Gases Market’s leading Manufacturers:
- Air Liquide
- Air Products Inc.
- Linde plc
- Matheson Tri-Gas
- Messer Group
- Gulf Cryo
- BASF SE
- Southern Company
- Universal Industrial Gases, Inc.,
- Bhuruka Gases Limited
Industrial Gases Market Segmentation:
Segmentation by Gas Type:
- Oxygen
- Nitrogen
- Carbon Dioxide
- Hydrogen
- Argon
- Others
Segmentation by Application:
- Packaging
- Coolant
- Carbonation
- Cryogenic
- Cutting and Wedding
- Laboratory
- Air Separation
- Others
Segmentation by End User:
- Metallurgy
- Healthcare
- Chemical
- Food & Beverage
- Oil & Gas
- Power
- Pulp and Paper
- Electronics
- Water Treatment
- Mining
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
