Summary

The industrial gases market was valued at USD 94.025.8 million in 2024 and is projected to reach USD 126,526.8 million by 2030, growing at a CAGR of 5.1% during the forecast period. Rapid industrialization, technological advances, and increasing demand for high-purity gases in chemical, healthcare, food & beverage, metallurgy, refining, and electronics industries drive the market. The healthcare sector’s growth is fueled by the need for medical-grade oxygen for a rising aging population, respiratory illnesses, and other health requirements. Chemical and refining industries rely on gases to produce, process, synthesize, and purify chemicals. Transitioning to clean energy sources, including hydrogen, and the adoption of carbon capture technologies are creating more industrial development opportunities. In food & beverages, gases are used for preservation, carbonation, and packaging. The rise in environmental regulations and incentives for low emissions naturally boosts demand for industrial gases, indicating the industry will experience steady growth.

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By type, nitrogen segment to account for second-largest market share during forecast period
Nitrogen is expected to hold the second-largest share of the industrial gases market during the forecast period due to its versatile uses in many applications. Nitrogen is an inert gas used for blanketing, purging, and pressurizing systems to prevent oxidation, contamination, or hazardous reactions. In the chemical and petrochemical industries, nitrogen is vital for ensuring safety and maintaining product integrity during manufacturing and storage. The food and beverage industry uses nitrogen in modified atmosphere packaging (MAP) to extend the shelf life of products while ensuring freshness and quality during transportation. Ultra-high purity nitrogen is essential in manufacturing electronic devices, providing controlled environments during the production of semiconductor devices and circuit boards. The metallurgy and metal fabrication industries also frequently use nitrogen during heat treatment processes and as a safeguard against oxidation during production. Its non-reactive, versatile, and cost-effective combination makes it well-suited as an input in industrial production. Nitrogen is poised for continued growth as manufacturing, food processing, and high-tech industries expand, making it a significant contributor to the overall growth of the industrial gases market.

By end-use industry, metallurgy segment to account for second-largest market share during forecast period
The metallurgy segment is projected to hold the second-largest market share during the forecast period. This is mainly because gases are utilized in the manufacturing, processing, and production of metals. Oxygen is commonly found in both blast furnaces and basic oxygen furnaces (BOF), which enhance combustion and produce higher-quality steel. Noble gases like argon and nitrogen are used to shield molten metal during casting and welding because they minimize oxidation. For non-ferrous metals, industrial gases used in smelting, refining, and heat treatment help achieve desired metallurgical properties and product uniformity. The increased demand for high-quality engineered steel and alloys by the construction, automotive, aerospace, and heavy machinery industries positively influences gas consumption, as these materials offer greater durability and improved performance. Significant advancements also improve energy efficiency and reduce emissions in energy-intensive steelmaking processes?such as oxygen-enriched transparent combustion and gas-based reduction technologies?thus increasing reliance on industrial gases.

North America to account for largest market share during forecast period
North America is expected to hold the largest industrial gas market share due to its high industrial base and diverse end-use requirements during the forecast period. The region has sectors such as chemical, healthcare, metallurgy, refining, and food and beverage industries that demand large quantities of industrial gases like oxygen, nitrogen, hydrogen, and carbon dioxide for their production processes. The United States’ healthcare sector is a leading indicator, with growing demand for medical-grade gases driven by increasing investments in healthcare facilities and more cases requiring respiratory care that uses medical gases. Gases are also extensively used in chemical and petrochemical processing and refining, especially in the Gulf Coast region. Additionally, North America is a key player in clean energy initiatives, including developing a hydrogen economy and implementing carbon capture, utilization, and storage (CCUS) technologies, which present further growth opportunities. Thanks to its extensive distribution networks, advanced cryogenic technology, and significant investments in eco-friendly manufacturing, North America is poised to maintain its dominance in the market, gaining a first-mover advantage in the global industrial gases industry during the forecast period.

? By Company Type: Tier 1: 40%, Tier 2: 25%, Tier 3: 35%
? By Designation: C Level: 35%, Director Level: 30%, Others: 35%
? By Region: North America: 25%, Europe: 20%, Asia Pacific: 45%, Middle East & Africa: 5%, and South America: 5%

Companies Covered:
Air Liquide (France), Linde PLC (UK), Air Products and Chemicals, Inc. (US), Messer SE & Co. KGaA (Germany), NIPPON SANSO HOLDINGS CORPORATION (Japan), BASF SE (Germany), Bhoruka Specialty Gases Pvt Ltd (India), Ellenbarrie Industrial Gases Limited (India), Iwatani Corporation (Japan), and AIR WATER INC (Japan) are some key players in the industrial gases market.

Research Coverage
The market study examines the industrial gases market across various segments. It aims to estimate the market size and growth potential in different segments based on type, end-use industry, and region. The study also features an in-depth competitive analysis of key market players, including their company profiles, product and business offering insights, recent developments, and key growth strategies to enhance their market position.
Key Benefits of Buying Report
The report is designed to help market leaders and new entrants approximate the revenue figures of the overall industrial gases market, along with its segments and sub-segments. It aims to assist stakeholders in understanding the competitive landscape, gaining insights to strengthen their business positions, and developing effective go-to-market strategies. Additionally, the report seeks to provide stakeholders with a pulse on the market by offering information on key drivers, challenges, and opportunities.
The report provides insights into the following points:
? Analysis of key drivers (Growing demand from electronics industry and Green hydrogen scale-up), restraints (Strict regulatory compliance and CapEx-Heavy nature of gas production and storage facilities), opportunities (Advanced semiconductor manufacturing expansion), and challenges (Hazardous material handling and Safety regulations and geopolitical disruptions in critical supply regions) influencing the growth of the industrial gases market.
? Product Development/Innovation: Detailed insights into upcoming technologies, research & development activities, and new product & service launches in the industrial gases market
? Market Development: Comprehensive information about profitable markets ? the report analyses the industrial gases market across varied regions
? Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the industrial gases market
? Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like as Air Liquide (France), Linde PLC (UK), Air Products and Chemicals, Inc. (US), Messer SE & Co. KGaA (Germany), NIPPON SANSO HOLDINGS CORPORATION (Japan), BASF SE (Germany), Bhoruka Specialty Gases Pvt Ltd (India), Ellenbarrie Industrial Gases Limited (India), Gruppo SIAD (Italy), Iwatani Corporation (Japan), AIR WATER INC (Japan), AirPower Technologies Limited (China) and others in the industrial gases market. The report also helps stakeholders understand the pulse of the industrial gases market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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Table of Contents

1 INTRODUCTION 23
1.1 STUDY OBJECTIVES 23
1.2 MARKET DEFINITION 23
1.3 STUDY SCOPE 24
1.3.1 MARKET SEGMENTATION AND REGIONS COVERED 24
1.3.2 INCLUSIONS AND EXCLUSIONS 25
1.3.3 YEARS CONSIDERED 25
1.3.4 CURRENCY CONSIDERED 26
1.4 STAKEHOLDERS 26
1.5 SUMMARY OF CHANGES 26
2 RESEARCH METHODOLOGY 27
2.1 RESEARCH DATA 27
2.1.1 SECONDARY DATA 28
2.1.1.1 Key data from secondary sources 28
2.1.1.2 List of secondary sources 28
2.1.2 PRIMARY DATA 29
2.1.2.1 Key primary participants 29
2.1.2.2 Key data from primary sources 29
2.1.2.3 Breakdown of interviews with experts 30
2.1.2.4 Key industry insights 30
2.2 MARKET SIZE ESTIMATION 31
2.2.1 TOP-DOWN APPROACH 31
2.2.2 BOTTOM-UP APPROACH 32
2.3 BASE NUMBER CALCULATION 32
2.3.1 SUPPLY-SIDE APPROACH 33
2.4 GROWTH FORECAST 33
2.5 DATA TRIANGULATION 34
2.6 RESEARCH ASSUMPTIONS 35
2.7 FACTOR ANALYSIS 35
2.8 RESEARCH LIMITATIONS 36
2.9 RISK ASSESSMENT 36
3 EXECUTIVE SUMMARY 37
4 PREMIUM INSIGHTS 41
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN INDUSTRIAL GASES MARKET 41
4.2 INDUSTRIAL GASES MARKET, BY TYPE 42
4.3 INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY 42
4.4 ASIA PACIFIC: INDUSTRIAL GASES MARKET, BY TYPE AND COUNTRY 43
4.5 INDUSTRIAL GASES MARKET, BY COUNTRY 43
5 MARKET OVERVIEW 44
5.1 INTRODUCTION 44
5.1.1 DRIVERS 45
5.1.1.1 Growing demand from electronics industry 45
5.1.1.2 Green hydrogen scale-up 46
5.1.1.3 Wide deployment of industrial gases in refrigeration and preservation of frozen foods 47
5.1.2 RESTRAINTS 48
5.1.2.1 Strict regulatory compliance 48
5.1.2.2 CapEx-heavy nature of gas production and storage facilities 48
5.1.3 OPPORTUNITIES 49
5.1.3.1 Advanced semiconductor manufacturing expansion 49
5.1.3.2 Medical gas expansion in emerging healthcare markets 50
5.1.3.3 Agri-food cold chain and modified atmosphere packaging 50
5.1.3.4 Specialty gas demand in renewable energy component manufacturing 51
5.1.4 CHALLENGES 52
5.1.4.1 Hazardous material handling and safety regulations 52
5.1.4.2 Geopolitical disruptions in critical supply regions 53
6 INDUSTRY TRENDS 54
6.1 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 54
6.2 PRICING ANALYSIS 55
6.2.1 AVERAGE SELLING PRICE TREND, BY KEY PLAYER 56
6.2.2 AVERAGE SELLING PRICE TREND, BY REGION 56
6.3 VALUE CHAIN ANALYSIS 60
6.4 ECOSYSTEM ANALYSIS 61
6.5 TECHNOLOGY ANALYSIS 63
6.5.1 KEY TECHNOLOGIES 63
6.5.1.1 Air Separation Units (ASUs) 63
6.5.1.2 Pressure swing adsorption (PSA) 63
6.5.2 COMPLEMENTARY TECHNOLOGIES 64
6.5.2.1 Cryogenic Storage & Distribution Systems 64
6.5.3 ADJACENT TECHNOLOGIES 65
6.5.3.1 Carbon Capture, Utilization & Storage (CCUS) 65
6.5.3.2 Fuel Cell Technology 65
6.6 IMPACT OF GEN AI ON INDUSTRIAL GASES MARKET 66
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6.7 PATENT ANALYSIS 67
6.7.1 INTRODUCTION 67
6.7.2 APPROACH 67
6.7.3 TOP APPLICANTS 68
6.8 TRADE ANALYSIS 70
6.8.1 IMPORT DATA FOR HS CODE 2804 70
6.8.2 EXPORT DATA FOR HS CODE 2804 71
6.9 KEY CONFERENCES AND EVENTS, 2025?2026 72
6.10 REGULATORY LANDSCAPE 73
6.10.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 73
6.10.2 REGULATORY FRAMEWORK 78
6.11 PORTER’S FIVE FORCES ANALYSIS 80
6.11.1 THREAT OF NEW ENTRANTS 81
6.11.2 THREAT OF SUBSTITUTES 81
6.11.3 BARGAINING POWER OF SUPPLIERS 81
6.11.4 BARGAINING POWER OF BUYERS 81
6.11.5 INTENSITY OF COMPETITIVE RIVALRY 81
6.12 KEY STAKEHOLDERS AND BUYING CRITERIA 82
6.12.1 KEY STAKEHOLDERS IN BUYING PROCESS 82
6.12.2 BUYING CRITERIA 82
6.13 CASE STUDY ANALYSIS 83
6.13.1 LINDE PARTNERED TO ENHANCE PLASTICS COMPOUNDING WITH PRECISE GAS-ASSISTED PROCESSING CONTROLS 83
6.13.2 AIR LIQUIDE IMPLEMENTED CO? RECYCLING IN LITHIUM CARBONATE PURIFICATION TO CUT FRESH CO? USE 84
6.14 MACROECONOMIC ANALYSIS 85
6.14.1 INTRODUCTION 85
6.14.2 GDP TRENDS AND FORECASTS 85
6.14.3 INFRASTRUCTURE DEVELOPMENT AND URBANIZATION 86
6.15 INVESTMENT AND FUNDING SCENARIO 87
6.16 IMPACT OF 2025 US TARIFFS?INDUSTRIAL GASES MARKET 87
6.16.1 INTRODUCTION 87
6.16.2 KEY TARIFF RATES 87
6.16.3 PRICE IMPACT ANALYSIS 88
6.16.4 IMPACT ON COUNTRIES/REGIONS 88
6.16.4.1 US 88
6.16.4.2 Europe 88
6.16.4.3 Asia Pacific 88
6.16.5 IMPACT ON END-USE INDUSTRIES 89
6.16.5.1 Chemicals 89
6.16.5.2 Electronics 89
6.16.5.3 Food & Beverages 89
6.16.5.4 Healthcare 89
6.16.5.5 Manufacturing 90
6.16.5.6 Metallurgy 90
6.16.5.7 Refining 90
7 INDUSTRIAL GASES MARKET, BY TYPE 91
7.1 INTRODUCTION 92
7.2 OXYGEN 94
7.2.1 OXYGEN STRENGTHENS INDUSTRIAL EFFICIENCY ACROSS METALLURGY, CHEMICALS, HEALTHCARE, AND REFINING SECTORS 94
7.3 NITROGEN 95
7.3.1 NITROGEN ENSURES QUALITY AND SAFETY ACROSS CHEMICALS, ELECTRONICS, FOOD, AND MANUFACTURING INDUSTRIES 95
7.4 CARBON DIOXIDE 95
7.4.1 CARBON DIOXIDE SUPPORTS KEY APPLICATIONS IN CHEMICALS, FOOD, HEALTHCARE, AND MANUFACTURING INDUSTRIES 95
7.5 HYDROGEN 96
7.5.1 HYDROGEN POWERS CRITICAL PROCESSES IN CHEMICALS, REFINING, METALLURGY, AND EMERGING ENERGY APPLICATIONS 96
7.6 ACETYLENE 96
7.6.1 ACETYLENE DELIVERS HIGH-TEMPERATURE PRECISION FOR MANUFACTURING, METALLURGY, AND SPECIALIZED INDUSTRIAL APPLICATIONS 96
7.7 INERT GASES 97
7.7.1 INERT GASES ENABLE PRECISION, STABILITY, AND SAFETY IN ADVANCED INDUSTRIAL APPLICATIONS 97
7.8 OTHER GASES 97
8 INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY 99
8.1 INTRODUCTION 100
8.2 CHEMICALS 101
8.2.1 INDUSTRIAL GASES DRIVE EFFICIENCY, SAFETY, AND INNOVATION IN CHEMICAL INDUSTRY 101
8.3 ELECTRONICS 102
8.3.1 INDUSTRIAL GASES ENSURE PRECISION, PURITY, AND INNOVATION IN ADVANCED ELECTRONICS MANUFACTURING 102
8.4 FOOD & BEVERAGES 103
8.4.1 INDUSTRIAL GASES ENHANCE QUALITY, SAFETY, AND SHELF LIFE IN FOOD AND BEVERAGES 103
8.5 HEALTHCARE 103
8.5.1 INDUSTRIAL GASES SUPPORT CRITICAL THERAPIES, DIAGNOSTICS, AND INNOVATIONS IN HEALTHCARE SERVICES 103
8.6 MANUFACTURING 104
8.6.1 INDUSTRIAL GASES ENHANCE EFFICIENCY, PRECISION, AND QUALITY ACROSS DIVERSE MANUFACTURING PROCESSES 104
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8.7 METALLURGY 104
8.7.1 INDUSTRIAL GASES OPTIMIZE QUALITY, AND INNOVATION IN MODERN METALLURGICAL PROCESSES 104
8.8 REFINING 105
8.8.1 INDUSTRIAL GASES DRIVE PROCESS OPTIMIZATION, PRODUCT QUALITY, AND DECARBONIZATION IN REFINING OPERATIONS 105
8.9 OTHER END-USE INDUSTRIES 105
9 INDUSTRIAL GASES MARKET, BY REGION 106
9.1 INTRODUCTION 107
9.2 NORTH AMERICA 108
9.2.1 US 111
9.2.1.1 Expanding manufacturing, chemical, and export activities set to drive market 111
9.2.2 CANADA 113
9.2.2.1 Manufacturing, energy, and chemical sector growth to push growth 113
9.2.3 MEXICO 115
9.2.3.1 Chemical, electronics, energy, and food sector expansion to drive market 115
9.3 ASIA PACIFIC 117
9.3.1 CHINA 121
9.3.1.1 Robust growth in chemicals, manufacturing, food, and metals to propel demand 121
9.3.2 JAPAN 123
9.3.2.1 Growing chemical and pharmaceutical industry to support demand 123
9.3.3 INDIA 125
9.3.3.1 Expanding manufacturing, chemicals, food processing, and refining capacity to propel demand 125
9.3.4 SOUTH KOREA 127
9.3.4.1 High-tech manufacturing and export growth to drive market 127
9.3.5 OCEANIA 129
9.3.5.1 Manufacturing, chemical, and refining sector expansion in Australia, and New Zealand to propel growth 129
9.3.6 REST OF ASIA PACIFIC 131
9.4 EUROPE 133
9.4.1 GERMANY 136
9.4.1.1 Expanding manufacturing and energy-intensive industries in Germany set to drive demand 136
9.4.2 UK 138
9.4.2.1 Diverse high-value manufacturing and innovation investments to support market growth 138
9.4.3 FRANCE 140
9.4.3.1 Expanding chemical, steel, and energy sectors set to propel demand 140
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9.4.4 ITALY 142
9.4.4.1 Expanding manufacturing and export sectors boost industrial
gas consumption 142
9.4.5 REST OF EUROPE 144
9.5 SOUTH AMERICA 146
9.5.1 BRAZIL 148
9.5.1.1 Broad-based growth across chemicals, food, and electronics to propel demand 148
9.5.2 ARGENTINA 150
9.5.2.1 Expanding manufacturing, chemical, and energy industries to propel demand 150
9.5.3 REST OF SOUTH AMERICA 152
9.6 MIDDLE EAST & AFRICA 154
9.6.1 GCC COUNTRIES 157
9.6.1.1 Saudi Arabia 159
9.6.1.1.1 Expanding industrial base and chemical export diversification to propel demand 159
9.6.2 UAE 161
9.6.2.1 UAE’s energy expansion and diversified non-oil growth to drive market 161
9.6.3 REST OF GCC COUNTRIES 163
9.6.4 SOUTH AFRICA 165
9.6.4.1 Manufacturing and energy sector expansion to support growth 165
9.6.5 REST OF MIDDLE EAST & AFRICA 167
10 COMPETITIVE LANDSCAPE 170
10.1 OVERVIEW 170
10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 170
10.3 REVENUE ANALYSIS 172
10.4 MARKET SHARE ANALYSIS 172
10.5 COMPANY VALUATION AND FINANCIAL METRICS 175
10.5.1 COMPANY VALUATION 175
10.6 FINANCIAL METRICS 176
10.7 BRAND/PRODUCT COMPARISON 177
10.8 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 178
10.8.1 STARS 178
10.8.2 EMERGING LEADERS 178
10.8.3 PERVASIVE PLAYERS 178
10.8.4 PARTICIPANTS 178
10.8.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024 180
10.8.5.1 Company footprint 180
10.8.5.2 Region footprint 181
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10.8.5.3 Type footprint 182
10.8.5.4 End-use industry footprint 183
10.9 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 183
10.9.1 PROGRESSIVE COMPANIES 183
10.9.2 RESPONSIVE COMPANIES 183
10.9.3 DYNAMIC COMPANIES 184
10.9.4 STARTING BLOCKS 184
10.9.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024 185
10.9.6 DETAILED LIST OF KEY STARTUPS/SMES 185
10.9.7 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 186
10.10 COMPETITIVE SCENARIO 188
10.10.1 DEALS 188
10.10.2 EXPANSIONS 189
10.10.3 OTHER DEVELOPMENTS 190
11 COMPANY PROFILES 191
11.1 KEY PLAYERS 191
11.1.1 AIR LIQUIDE 191
11.1.1.1 Business overview 191
11.1.1.2 Products/Solutions/Services offered 192
11.1.1.3 Recent developments 193
11.1.1.3.1 Deals 193
11.1.1.3.2 Expansions 196
11.1.1.3.3 Other developments 197
11.1.1.4 MnM view 198
11.1.1.4.1 Right to win 198
11.1.1.4.2 Strategic choices 198
11.1.1.4.3 Weaknesses & competitive threats 198
11.1.2 LINDE PLC 199
11.1.2.1 Business overview 199
11.1.2.2 Products/Solutions/Services offered 201
11.1.2.3 Recent developments 201
11.1.2.3.1 Deals 201
11.1.2.3.2 Expansions 203
11.1.2.4 MnM view 204
11.1.2.4.1 Right to win 204
11.1.2.4.2 Strategic choices 204
11.1.2.4.3 Weaknesses & competitive threats 204
11.1.3 AIR PRODUCTS AND CHEMICALS, INC. 205
11.1.3.1 Business overview 205
11.1.3.2 Products/Solutions/Services offered 206
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11.1.3.3 Recent developments 207
11.1.3.3.1 Deals 207
11.1.3.3.2 Expansions 209
11.1.3.4 MnM view 210
11.1.3.4.1 Right to win 210
11.1.3.4.2 Strategic choices 210
11.1.3.4.3 Weaknesses & competitive threats 210
11.1.4 MESSER SE & CO. KGAA 211
11.1.4.1 Business overview 211
11.1.4.2 Products/Solutions/Services offered 213
11.1.4.3 Recent developments 214
11.1.4.3.1 Deals 214
11.1.4.3.2 Expansions 214
11.1.4.4 MnM view 215
11.1.4.4.1 Right to win 215
11.1.4.4.2 Strategic choices 216
11.1.4.4.3 Weaknesses & competitive threats 216
11.1.5 NIPPON SANSO HOLDINGS CORPORATION 217
11.1.5.1 Business overview 217
11.1.5.2 Products/Solutions/Services offered 218
11.1.5.3 Recent developments 219
11.1.5.3.1 Deals 219
11.1.5.3.2 Expansions 220
11.1.5.4 MnM view 221
11.1.5.4.1 Right to win 221
11.1.5.4.2 Strategic choices 221
11.1.5.4.3 Weaknesses & competitive threats 221
11.1.6 BASF SE 222
11.1.6.1 Business overview 222
11.1.6.2 Products/Solutions/Services offered 223
11.1.6.3 Recent developments 224
11.1.6.3.1 Deals 224
11.1.6.3.2 Expansions 225
11.1.6.4 MnM view 225
11.1.7 BHORUKA SPECIALTY GASES PVT. LTD. 226
11.1.7.1 Business overview 226
11.1.7.2 Products/Solutions/Services offered 226
11.1.7.3 Recent developments 227
11.1.7.3.1 Deals 227
11.1.7.4 MnM view 227
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11.1.8 ELLENBARRIE INDUSTRIAL GASES LIMITED 228
11.1.8.1 Business overview 228
11.1.8.2 Products/Solutions/Services offered 229
11.1.8.3 Recent developments 230
11.1.8.3.1 Deals 230
11.1.8.3.2 Expansions 231
11.1.8.4 MnM view 231
11.1.9 GRUPPO SIAD 232
11.1.9.1 Business overview 232
11.1.9.2 Products/Solutions/Services offered 232
11.1.9.3 Recent developments 233
11.1.9.3.1 Deals 233
11.1.9.3.2 Expansions 233
11.1.9.4 MnM view 234
11.1.10 IWATANI CORPORATION 235
11.1.10.1 Business overview 235
11.1.10.2 Products/Solutions/Services offered 236
11.1.10.3 Recent developments 237
11.1.10.3.1 Deals 237
11.1.10.3.2 Expansions 238
11.1.10.4 MnM view 239
11.1.11 AIR WATER INC. 240
11.1.11.1 Business overview 240
11.1.11.2 Products/Solutions/Services offered 241
11.1.11.3 Recent developments 241
11.1.11.3.1 Deals 241
11.1.11.3.2 Expansions 243
11.1.11.4 MnM view 243
11.1.12 AIRPOWER TECHNOLOGIES LIMITED 244
11.1.12.1 Business overview 244
11.1.12.2 Products/Solutions/Services offered 244
11.1.12.3 Recent developments 245
11.1.12.3.1 Deals 245
11.1.12.3.2 Expansions 246
11.1.12.4 MnM view 246
11.2 OTHER PLAYERS 247
11.2.1 SOL GROUP 247
11.2.2 SAPIO GROUP 248
11.2.3 SOUTHERN GAS LIMITED 249
11.2.4 GOYAL MG GASES PVT. LTD. 250
11.2.5 GULF CRYO 251
11.2.6 CONCORDE-CORODEX GROUP 252
11.2.7 AMERICAN WELDING & GAS 253
11.2.8 HOLSTON GASE 254
11.2.9 AXCEL GASES 255
11.2.10 PT SAMATOR INDO GAS TBK 256
11.2.11 INOX-AIR PRODUCTS INC. 257
11.2.12 STEELMAN GASES PVT. LTD. 258
11.2.13 ALCHEMIE GASES & CHEMICALS PVT. LTD. 259
11.2.14 WESTFALEN AG 260
11.2.15 TYCZKA AIR GASES 261
12 ADJACENT & RELATED MARKETS 262
12.1 INTRODUCTION 262
12.2 LIMITATIONS 262
12.2.1 INDUSTRIAL NITROGEN MARKET 262
12.2.1.1 Market definition 262
13 APPENDIX 264
13.1 DISCUSSION GUIDE 264
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 267
13.3 CUSTOMIZATION OPTIONS 269
13.4 RELATED REPORTS 269
13.5 AUTHOR DETAILS 270

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List of Tables/Graphs

TABLE 1 AVERAGE SELLING PRICE TREND OF INDUSTRIAL GASES, BY KEY PLAYER,
2024 (USD/UNIT) 56
TABLE 2 AVERAGE SELLING PRICE TREND OF OXYGEN, BY REGION,
2024?2030 (USD/UNIT) 57
TABLE 3 AVERAGE SELLING PRICE TREND OF NITROGEN, BY REGION,
2024?2030 (USD/UNIT) 58
TABLE 4 AVERAGE SELLING PRICE TREND OF CARBON DIOXIDE, BY REGION,
2024?2030 (USD/UNIT) 59
TABLE 5 ROLE OF COMPANIES IN INDUSTRIAL GASES MARKET ECOSYSTEM 62
TABLE 6 INDUSTRIAL GASES MARKET: INDICATIVE LIST OF PATENTS 69
TABLE 7 IMPORT DATA RELATED TO HS CODE 2804, BY COUNTRY,
2020?2024 (USD THOUSAND) 71
TABLE 8 EXPORT DATA RELATED TO HS CODE 2804, BY COUNTRY,
2020?2024 (USD THOUSAND) 72
TABLE 9 INDUSTRIAL GASES MARKET: KEY CONFERENCES AND EVENTS, 2025?2026 72
TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 73
TABLE 11 SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 74
TABLE 12 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 75
TABLE 13 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 76
TABLE 14 MIDDLE EAST & AFRICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77
TABLE 15 KEY REGULATIONS AND STANDARDS FOR INDUSTRIAL GASES 78
TABLE 16 INDUSTRIAL GASES MARKET: PORTER’S FIVE FORCES ANALYSIS 80
TABLE 17 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR
TOP 3 END-USE INDUSTRIES 82
TABLE 18 KEY BUYING CRITERIA FOR TOP 3 END-USE INDUSTRIES 83
TABLE 19 MESSER DROVE ENHANCED OIL RECOVERY USING CO? INJECTION
TO BOOST FIELD OUTPUT 84
TABLE 20 GLOBAL GDP GROWTH PROJECTIONS, 2021?2028 (USD TRILLION) 85
TABLE 21 US: KEY TARIFF RATES ON INDUSTRIAL GASES IMPORTS, 2025 87
TABLE 22 INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 93
TABLE 23 INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 93
TABLE 24 COMPARATIVE PROPERTIES & INDUSTRY INSIGHTS OF MAJOR INDUSTRIAL GASES 93
TABLE 25 INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY, 2021?2023 (USD MILLION) 101
TABLE 26 INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY, 2024?2030 (USD MILLION) 101
TABLE 27 INDUSTRIAL GASES MARKET, BY REGION, 2021?2023 (USD MILLION) 108
TABLE 28 INDUSTRIAL GASES MARKET, BY REGION, 2024?2030 (USD MILLION) 108
TABLE 29 NORTH AMERICA: INDUSTRIAL GASES MARKET, BY COUNTRY,
2021?2023 (USD MILLION) 109
TABLE 30 NORTH AMERICA: INDUSTRIAL GASES MARKET, BY COUNTRY,
2024?2030 (USD MILLION) 110
TABLE 31 NORTH AMERICA: INDUSTRIAL GASES MARKET, BY TYPE,
2021?2023 (USD MILLION) 110
TABLE 32 NORTH AMERICA: INDUSTRIAL GASES MARKET, BY TYPE,
2024?2030 (USD MILLION) 110
TABLE 33 NORTH AMERICA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 111
TABLE 34 NORTH AMERICA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 111
TABLE 35 US: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 112
TABLE 36 US: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 112
TABLE 37 US: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 113
TABLE 38 US: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 113
TABLE 39 CANADA: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 114
TABLE 40 CANADA: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 114
TABLE 41 CANADA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 115
TABLE 42 CANADA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 115
TABLE 43 MEXICO: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 116
TABLE 44 MEXICO: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 116
TABLE 45 MEXICO: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 117
TABLE 46 MEXICO: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 117
TABLE 47 ASIA PACIFIC: INDUSTRIAL GASES MARKET, BY COUNTRY,
2021?2023 (USD MILLION) 119
TABLE 48 ASIA PACIFIC: INDUSTRIAL GASES MARKET, BY COUNTRY,
2024?2030 (USD MILLION) 119
TABLE 49 ASIA PACIFIC: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 119
TABLE 50 ASIA PACIFIC: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 120
TABLE 51 ASIA PACIFIC: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 120
TABLE 52 ASIA PACIFIC: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 121
TABLE 53 CHINA: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 122
TABLE 54 CHINA: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 122
TABLE 55 CHINA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 122
TABLE 56 CHINA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 123
TABLE 57 JAPAN: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 124
TABLE 58 JAPAN: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 124
TABLE 59 JAPAN: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 124
TABLE 60 JAPAN: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 125
TABLE 61 INDIA: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 126
TABLE 62 INDIA: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 126
TABLE 63 INDIA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 126
TABLE 64 INDIA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 127
TABLE 65 SOUTH KOREA: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 128
TABLE 66 SOUTH KOREA: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 128
TABLE 67 SOUTH KOREA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 128
TABLE 68 SOUTH KOREA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 129
TABLE 69 OCEANIA: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 130
TABLE 70 OCEANIA: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 130
TABLE 71 OCEANIA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 130
TABLE 72 OCEANIA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 131
TABLE 73 REST OF ASIA PACIFIC: INDUSTRIAL GASES MARKET, BY TYPE,
2021?2023 (USD MILLION) 132
TABLE 74 REST OF ASIA PACIFIC: INDUSTRIAL GASES MARKET, BY TYPE,
2024?2030 (USD MILLION) 132
TABLE 75 REST OF ASIA PACIFIC: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY, 2021?2023 (USD MILLION) 133
TABLE 76 REST OF ASIA PACIFIC: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY, 2024?2030 (USD MILLION) 133
TABLE 77 EUROPE: INDUSTRIAL GASES MARKET, BY COUNTRY, 2021?2023 (USD MILLION) 134
TABLE 78 EUROPE: INDUSTRIAL GASES MARKET, BY COUNTRY, 2024?2030 (USD MILLION) 134
TABLE 79 EUROPE: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 134
TABLE 80 EUROPE: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 135
TABLE 81 EUROPE: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 135
TABLE 82 EUROPE: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 136
TABLE 83 GERMANY: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 137
TABLE 84 GERMANY: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 137
TABLE 85 GERMANY: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 137
TABLE 86 GERMANY: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 138
TABLE 87 UK: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 139
TABLE 88 UK: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 139
TABLE 89 UK: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 139
TABLE 90 UK: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 140
TABLE 91 FRANCE: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 141
TABLE 92 FRANCE: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 141
TABLE 93 FRANCE: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 141
TABLE 94 FRANCE: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 142
TABLE 95 ITALY: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 143
TABLE 96 ITALY: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 143
TABLE 97 ITALY: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 143
TABLE 98 ITALY: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 144
TABLE 99 REST OF EUROPE: INDUSTRIAL GASES MARKET, BY TYPE,
2021?2023 (USD MILLION) 144
TABLE 100 REST OF EUROPE: INDUSTRIAL GASES MARKET, BY TYPE,
2024?2030 (USD MILLION) 145
TABLE 101 REST OF EUROPE: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 145
TABLE 102 REST OF EUROPE: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 146
TABLE 103 SOUTH AMERICA: INDUSTRIAL GASES MARKET, BY COUNTRY,
2021?2023 (USD MILLION) 146
TABLE 104 SOUTH AMERICA: INDUSTRIAL GASES MARKET, BY COUNTRY,
2024?2030 (USD MILLION) 147
TABLE 105 SOUTH AMERICA: INDUSTRIAL GASES MARKET, BY TYPE,
2021?2023 (USD MILLION) 147
TABLE 106 SOUTH AMERICA: INDUSTRIAL GASES MARKET, BY TYPE,
2024?2030 (USD MILLION) 147
TABLE 107 SOUTH AMERICA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 148
TABLE 108 SOUTH AMERICA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 148
TABLE 109 BRAZIL: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 149
TABLE 110 BRAZIL: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 149
TABLE 111 BRAZIL: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 150
TABLE 112 BRAZIL: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 150
TABLE 113 ARGENTINA: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 151
TABLE 114 ARGENTINA: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 151
TABLE 115 ARGENTINA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 152
TABLE 116 ARGENTINA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 152
TABLE 117 REST OF SOUTH AMERICA: INDUSTRIAL GASES MARKET, BY TYPE,
2021?2023 (USD MILLION) 153
TABLE 118 REST OF SOUTH AMERICA: INDUSTRIAL GASES MARKET, BY TYPE,
2024?2030 (USD MILLION) 153
TABLE 119 REST OF SOUTH AMERICA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY, 2021?2023 (USD MILLION) 154
TABLE 120 REST OF SOUTH AMERICA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY, 2024?2030 (USD MILLION) 154
TABLE 121 MIDDLE EAST & AFRICA: INDUSTRIAL GASES MARKET, BY COUNTRY,
2021?2023 (USD MILLION) 155
TABLE 122 MIDDLE EAST & AFRICA: INDUSTRIAL GASES MARKET, BY COUNTRY,
2024?2030 (USD MILLION) 155
TABLE 123 MIDDLE EAST & AFRICA: INDUSTRIAL GASES MARKET, BY TYPE,
2021?2023 (USD MILLION) 156
TABLE 124 MIDDLE EAST & AFRICA: INDUSTRIAL GASES MARKET, BY TYPE,
2024?2030 (USD MILLION) 156
TABLE 125 MIDDLE EAST & AFRICA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY, 2021?2023 (USD MILLION) 156
TABLE 126 MIDDLE EAST & AFRICA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY, 2024?2030 (USD MILLION) 157
TABLE 127 GCC COUNTRIES: INDUSTRIAL GASES MARKET, BY TYPE,
2021?2023 (USD MILLION) 157
TABLE 128 GCC COUNTRIES: INDUSTRIAL GASES MARKET, BY TYPE,
2024?2030 (USD MILLION) 158
TABLE 129 GCC COUNTRIES: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 158
TABLE 130 GCC COUNTRIES: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 159
TABLE 131 SAUDI ARABIA: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 160
TABLE 132 SAUDI ARABIA: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 160
TABLE 133 SAUDI ARABIA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 160
TABLE 134 SAUDI ARABIA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 161
TABLE 135 UAE: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 162
TABLE 136 UAE: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 162
TABLE 137 UAE: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 162
TABLE 138 UAE: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 163
TABLE 139 REST OF GCC COUNTRIES: INDUSTRIAL GASES MARKET, BY TYPE,
2021?2023 (USD MILLION) 164
TABLE 140 REST OF GCC COUNTRIES: INDUSTRIAL GASES MARKET, BY TYPE,
2024?2030 (USD MILLION) 164
TABLE 141 REST OF GCC COUNTRIES: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY, 2021?2023 (USD MILLION) 164
TABLE 142 REST OF GCC COUNTRIES: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY, 2024?2030 (USD MILLION) 165
TABLE 143 SOUTH AFRICA: INDUSTRIAL GASES MARKET, BY TYPE, 2021?2023 (USD MILLION) 166
TABLE 144 SOUTH AFRICA: INDUSTRIAL GASES MARKET, BY TYPE, 2024?2030 (USD MILLION) 166
TABLE 145 SOUTH AFRICA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2021?2023 (USD MILLION) 166
TABLE 146 SOUTH AFRICA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2024?2030 (USD MILLION) 167
TABLE 147 REST OF MIDDLE EAST & AFRICA: INDUSTRIAL GASES MARKET, BY TYPE,
2021?2023 (USD MILLION) 168
TABLE 148 REST OF MIDDLE EAST & AFRICA: INDUSTRIAL GASES MARKET, BY TYPE,
2024?2030 (USD MILLION) 168
TABLE 149 REST OF MIDDLE EAST & AFRICA: INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY, 2021?2023 (USD MILLION) 168
TABLE 150 REST OF MIDDLE EAST & AFRICA: INDUSTRIAL GASES MARKET,
BY END-USE INDUSTRY, 2024?2030 (USD MILLION) 169
TABLE 151 INDUSTRIAL GASES MARKET: OVERVIEW OF STRATEGIES ADOPTED BY MARKET PLAYERS BETWEEN JANUARY 2021 AND JULY 2025 170
TABLE 152 INDUSTRIAL GASES MARKET: DEGREE OF COMPETITION 173
TABLE 153 INDUSTRIAL GASES MARKET: REGION FOOTPRINT 181
TABLE 154 INDUSTRIAL GASES MARKET: TYPE FOOTPRINT 182
TABLE 155 INDUSTRIAL GASES MARKET: END-USE INDUSTRY FOOTPRINT 183
TABLE 156 INDUSTRIAL GASES MARKET: DETAILED LIST OF KEY STARTUPS/SMES 185
TABLE 157 INDUSTRIAL GASES MARKET: COMPETITIVE BENCHMARKING
OF KEY STARTUPS/SMES (REGION AND TYPE) 186
TABLE 158 INDUSTRIAL GASES MARKET: COMPETITIVE BENCHMARKING
OF KEY STARTUPS/SMES (END-USE INDUSTRY) 187
TABLE 159 INDUSTRIAL GASES MARKET: DEALS, JANUARY 2021?JULY 2025 188
TABLE 160 INDUSTRIAL GASES MARKET: EXPANSIONS, JANUARY 2021?JULY 2025 189
TABLE 161 INDUSTRIAL GASES MARKET: OTHER DEVELOPMENTS, JANUARY 2021?JULY 2025 190
TABLE 162 AIR LIQUIDE: COMPANY OVERVIEW 191
TABLE 163 AIR LIQUIDE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192
TABLE 164 AIR LIQUIDE: DEALS, JANUARY 2021?JULY 2025 193
TABLE 165 AIR LIQUIDE: EXPANSIONS, JANUARY 2021?JULY 2025 196
TABLE 166 AIR LIQUIDE: OTHER DEVELOPMENTS, JANUARY 2021- JULY 2025 197
TABLE 167 LINDE PLC: COMPANY OVERVIEW 199
TABLE 168 LINDE PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 201
TABLE 169 LINDE PLC: DEALS, JANUARY 2021?JULY 2025 201
TABLE 170 LINDE PLC: EXPANSIONS, JANUARY 2021?JULY 2025 203
TABLE 171 AIR PRODUCTS AND CHEMICALS, INC.: COMPANY OVERVIEW 205
TABLE 172 AIR PRODUCTS AND CHEMICALS, INC.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 206
TABLE 173 AIR PRODUCTS AND CHEMICALS, INC.: DEALS, JANUARY 2021?JULY 2025 207
TABLE 174 AIR PRODUCTS AND CHEMICALS, INC.: EXPANSIONS, JANUARY 2021?JULY 2025 209
TABLE 175 MESSER SE & CO. KGAA: COMPANY OVERVIEW 211
TABLE 176 MESSER SE & CO. KGAA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 213
TABLE 177 MESSER SE & CO. KGAA: DEALS, JANUARY 2021?JULY 2025 214
TABLE 178 MESSER SE & CO. KGAA: EXPANSIONS, JANUARY 2021?JULY 2025 214
TABLE 179 NIPPON SANSO HOLDINGS CORPORATION: COMPANY OVERVIEW 217
TABLE 180 NIPPON SANSO HOLDINGS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 218
TABLE 181 NIPPON SANSO HOLDINGS CORPORATION: DEALS, JANUARY 2021?JULY 2025 219
TABLE 182 NIPPON SANSO HOLDINGS CORPORATION: EXPANSIONS,
JANUARY 2021?JULY 2025 220
TABLE 183 BASF SE: COMPANY OVERVIEW 222
TABLE 184 BASF SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 223
TABLE 185 BASF SE: DEALS, JANUARY 2021?JULY 2025 224
TABLE 186 BASF SE: EXPANSIONS, JANUARY 2021?JULY 2025 225
TABLE 187 BHORUKA SPECIALTY GASES PVT. LTD.: COMPANY OVERVIEW 226
TABLE 188 BHORUKA SPECIALTY GASES PVT. LTD.: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 226
TABLE 189 BHORUKA SPECIALTY GASES PVT. LTD.: DEALS, JANUARY 2021?JULY 2025 227
TABLE 190 ELLENBARRIE INDUSTRIAL GASES LIMITED: COMPANY OVERVIEW 228
TABLE 191 ELLENBARRIE INDUSTRIAL GASES LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 229
TABLE 192 ELLENBARRIE INDUSTRIAL GASES LIMITED: DEALS, JANUARY 2021?JULY 2025 230
TABLE 193 ELLENBARRIE INDUSTRIAL GASES LIMITED: EXPANSIONS,
JANUARY 2021?JULY 2025 231
TABLE 194 GRUPPO SIAD: COMPANY OVERVIEW 232
TABLE 195 GRUPPO SIAD: PRODUCTS/SOLUTIONS/SERVICES OFFERED 232
TABLE 196 GRUPPO SIAD: DEALS, JANUARY 2021?JULY 2025 233
TABLE 197 GRUPPO SIAD: EXPANSIONS, JANUARY 2021?JULY 2025 233
TABLE 198 IWATANI CORPORATION: COMPANY OVERVIEW 235
TABLE 199 IWATANI CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 236
TABLE 200 IWATANI CORPORATION: DEALS, JANUARY 2021?JULY 2025 237
TABLE 201 IWATANI CORPORATION: EXPANSIONS, JANUARY 2021?JULY 2025 238
TABLE 202 AIR WATER INC.: COMPANY OVERVIEW 240
TABLE 203 AIR WATER INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 241
TABLE 204 AIR WATER INC: DEALS, JANUARY 2021?JULY 2025 241
TABLE 205 AIR WATER INC: EXPANSIONS, JANUARY 2021?JULY 2025 243
TABLE 206 AIRPOWER TECHNOLOGIES LIMITED: COMPANY OVERVIEW 244
TABLE 207 AIRPOWER TECHNOLOGIES LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 244
TABLE 208 AIRPOWER TECHNOLOGIES LIMITED: DEALS, JANUARY 2021?JULY 2025 245
TABLE 209 AIRPOWER TECHNOLOGIES LIMITED: EXPANSIONS, JANUARY 2021?JULY 2025 246
TABLE 210 SOL GROUP: COMPANY OVERVIEW 247
TABLE 211 SAPIO GROUP: COMPANY OVERVIEW 248
TABLE 212 SOUTHERN GAS LIMITED: COMPANY OVERVIEW 249
TABLE 213 GOYAL MG GASES PVT. LTD.: COMPANY OVERVIEW 250
TABLE 214 GULF CRYO: COMPANY OVERVIEW 251
TABLE 215 CONCORDE-CORODEX GROUP: COMPANY OVERVIEW 252
TABLE 216 AMERICAN WELDING & GAS: COMPANY OVERVIEW 253
TABLE 217 HOLSTON GASES: COMPANY OVERVIEW 254
TABLE 218 AXCEL GASES: COMPANY OVERVIEW 255
TABLE 219 PT SAMATOR INDO GAS TBK: COMPANY OVERVIEW 256
TABLE 220 INOX-AIR PRODUCTS INC.: COMPANY OVERVIEW 257
TABLE 221 STEELMAN GASES PVT. LTD.: COMPANY OVERVIEW 258
TABLE 222 ALCHEMIE GASES & CHEMICALS PVT. LTD.: COMPANY OVERVIEW 259
TABLE 223 WESTFALEN AG: COMPANY OVERVIEW 260
TABLE 224 TYCZKA AIR GASES: COMPANY OVERVIEW 261
TABLE 225 INDUSTRIAL NITROGEN MARKET, BY REGION, 2015?2022 (USD BILLION) 263
TABLE 226 INDUSTRIAL NITROGEN MARKET, BY REGION, 2015?2022 (BILLION CUBIC FEET) 263FIGURE 1 INDUSTRIAL GASES MARKET: RESEARCH DESIGN 27
FIGURE 2 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH 31
FIGURE 3 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH 32
FIGURE 4 APPROACH 1: END-USE INDUSTRY CONSUMPTION PATTERS 33
FIGURE 5 APPROACH 2: COMPANY-SPECIFIC CONSUMPTION PATTERNS 33
FIGURE 6 INDUSTRIAL GASES MARKET: DATA TRIANGULATION 34
FIGURE 7 OXYGEN SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 38
FIGURE 8 CHEMICAL END-USE INDUSTRY SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 39
FIGURE 9 ASIA PACIFIC TO DOMINATE MARKET DURING FORECAST PERIOD 40
FIGURE 10 ASIA PACIFIC TO BE FASTEST-GROWING REGION IN INDUSTRIAL GASES MARKET DURING FORECAST PERIOD 41
FIGURE 11 OXYGEN HELD LARGEST MARKET SHARE IN 2024 42
FIGURE 12 ELECTRONICS AND FOOD & BEVERAGES TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD 42
FIGURE 13 OXYGEN ACCOUNTED FOR LARGEST SHARE OF ASIA PACIFIC MARKET IN 2024 43
FIGURE 14 INDIA TO RECORD HIGHEST CAGR DURING FORECAST PERIOD 43
FIGURE 15 MARKET DYNAMICS: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 44
FIGURE 16 GLOBAL HYDROGEN PRODUCTION CAPACITY, 2013?2023 (THOUSAND TONNES) 47
FIGURE 17 INDUSTRIAL GASES MARKET: TRENDS/DISRUPTIONS IMPACTING
CUSTOMERS’ BUSINESSES 55
FIGURE 18 AVERAGE SELLING PRICE TREND OF INDUSTRIAL GASES, BY KEY PLAYER,
2024 (USD/UNIT) 56
FIGURE 19 AVERAGE SELLING PRICE TREND OF OXYGEN, BY REGION,
2024?2030 (USD/UNIT) 57
FIGURE 20 AVERAGE SELLING PRICE TREND OF NITROGEN, BY REGION,
2024?2030 (USD/UNIT) 58
FIGURE 21 AVERAGE SELLING PRICE TREND OF CARBON DIOXIDE, BY REGION,
2024?2030 (USD/UNIT) 59
FIGURE 22 INDUSTRIAL GASES MARKET: VALUE CHAIN ANALYSIS 60
FIGURE 23 INDUSTRIAL GASES MARKET: ECOSYSTEM ANALYSIS 62
FIGURE 24 LIST OF MAJOR PATENTS FOR INDUSTRIAL GASES MARKET, 2014?2024 68
FIGURE 25 REGIONAL ANALYSIS OF PATENTS GRANTED FOR INDUSTRIAL
GASES MARKET, 2014?2024 68
FIGURE 26 IMPORT DATA RELATED TO HS CODE 2804, BY COUNTRY,
2020?2024 (USD THOUSAND) 70
FIGURE 27 EXPORT DATA RELATED TO HS CODE 2804, BY COUNTRY,
2020?2024 (USD THOUSAND) 71
FIGURE 28 INDUSTRIAL GASES MARKET: PORTER’S FIVE FORCES ANALYSIS 80
FIGURE 29 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR
TOP THREE END-USE INDUSTRIES 82
FIGURE 30 KEY BUYING CRITERIA FOR TOP 3 END-USE INDUSTRIES 82
FIGURE 31 GLOBAL CONSTRUCTION INDUSTRY, ANNUAL % GROWTH, 2018?2024 86
FIGURE 32 INDUSTRIAL GASES MARKET: INVESTOR DEALS AND FUNDING TRENDS,
2020?2024 (USD MILLION) 87
FIGURE 33 INDUSTRIAL GASES MARKET, BY TYPE, 2025 VS. 2030 (USD MILLION) 92
FIGURE 34 INDUSTRIAL GASES MARKET, BY END-USE INDUSTRY,
2025 VS. 2030 (USD MILLION) 100
FIGURE 35 ASIA PACIFIC TO BE FASTEST-GROWING MARKET FOR INDUSTRIAL GASES DURING FORECAST PERIOD 107
FIGURE 36 NORTH AMERICA: INDUSTRIAL GASES MARKET SNAPSHOT 109
FIGURE 37 ASIA PACIFIC: INDUSTRIAL GASES MARKET SNAPSHOT 118
FIGURE 38 INDUSTRIAL GASES MARKET: REVENUE ANALYSIS OF KEY PLAYERS,
2020?2024 (USD BILLION) 172
FIGURE 39 INDUSTRIAL GASES MARKET SHARE ANALYSIS, 2024 173
FIGURE 40 COMPANY VALUATION (USD MILLION), 2024 175
FIGURE 41 FINANCIAL MATRIX: EV/EBITDA RATIO 176
FIGURE 42 YEAR-TO-DATE PRICE AND FIVE-YEAR STOCK BETA 176
FIGURE 43 INDUSTRIAL GASES MARKET: BRAND/PRODUCT COMPARISON 177
FIGURE 44 INDUSTRIAL GASES MARKET: COMPANY EVALUATION MATRIX
(KEY PLAYERS), 2024 179
FIGURE 45 INDUSTRIAL GASES MARKET: COMPANY FOOTPRINT 180
FIGURE 46 INDUSTRIAL GASES MARKET: COMPANY EVALUATION MATRIX
(STARTUPS/SMES), 2024 184
FIGURE 47 AIR LIQUIDE: COMPANY SNAPSHOT (2024) 192
FIGURE 48 LINDE PLC: COMPANY SNAPSHOT (2024) 200
FIGURE 49 AIR PRODUCTS AND CHEMICALS, INC.: COMPANY SNAPSHOT (2024) 206
FIGURE 50 MESSER SE & CO. KGAA: COMPANY SNAPSHOT (2024) 212
FIGURE 51 NIPPON SANSO HOLDINGS CORPORATION: COMPANY SNAPSHOT (2024) 218
FIGURE 52 BASF SE: COMPANY SNAPSHOT (2024) 223
FIGURE 53 ELLENBARRIE INDUSTRIAL GASES LIMITED: COMPANY SNAPSHOT (2024) 229
FIGURE 54 IWATANI CORPORATION (2024): COMPANY SNAPSHOT (2024) 236
FIGURE 55 AIR WATER INC. (2024): COMPANY SNAPSHOT (2024) 240