The Industrial Gas Market Perspective, Comprehensive Analysis along with Major Segments and Forecast, 2020-2025. The Industrial Gas market report is a valuable source of data for business strategists. The process for developing an updated forecast and creating the market report involves the compilation and analysis of all derivative or application sectors with a country-wise analysis of demand trends, taking into account the economic, political, and legislative environment. We have taken a holistic approach to formulate and develop a clear market model for accurate market numbers. This Industrial Gas Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
Top Companies in the Global Industrial Gas Market
Air Liquide, Air Products and Chemicals, Inc. (NYSE: APD), Linde plc (NYSE: LIN), Praxair, Taiyo Nippon Sanso, AirGas, Matheson tri-Gas, Cryotec Anlagenbau, Messer, Linde Malaysia, Gulf Cryo, Air Water, Sol, Maxima Air Separation Center, Goyal MG Gases, among others.
The global Industrial Gas Market is expected to reach approximately US$ 121.2 Million by 2026 growing at a CAGR of 5.1% from 2021-2026.
Industrial Gas are the gases produced by different oil companies and chemical manufacturers to be used for industrial applications. U.S countries show a moderate growth rate and APAC countries are becoming the largest markets for Industrial Gas. Especially china dominates by producing innovative, exporting wide varieties of Industrial Gas. Growing population and industrialization in China is a major driver in the Industrial Gas Market. The application industries like the Food, medical and Pharmaceutical sectors have the fastest growth rate during the forecast period. Also, nitrogen possesses cooling properties and has the largest share in industrial applications.
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Industrial Gases Market challenges:
Also, the emission of Industrial gas into the atmosphere creates global warming and Ozone depletion. So preventing and implementing natural-based industrial gas, the need for skilled labor while working with flammable gas became a challenge to the manufacturers and regulating bodies. Owing to climatic factors, health care needs, energy demand, growing infrastructure projects has created awareness to produce sustainable Industrial Gas.
The Industrial Gas composed of naturally, synthetically manufactured gases for use in application industries. The type of gases used is Argon, Hydrogen, Oxygen, Nitrogen, Carbon Dioxide, Helium, specialty gases, cutting and welding gases, gas mixtures, and so on. The application industries include Oil and Gas companies, chemical and Petrochemicals Industries, Electronics, Food and beverages, Automotive, Transportation, lasers, aerospace, water treatment, and so on. In MAP (modified atmosphere packaging), oxygen is replaced by nitrogen which increases the shelf life of food or drug products. Also, Carbon dioxide is witnessing high growth in natural refrigerants during the forecast period. Hydrogen gas is considered as a potential replacement for fossil fuel in the automotive sector. The market revenue of nitrogen is $23.8 billion in 2020 and is expected to generate $30 billion by 2025. The market revenue of Hydrogen is $9.8 billion in 2020 and is expected to reach $12.7 billion by 2025. Not only gases, but the companies are also producing gas handling equipment for safe use of Industrial Gas at required places.
Asia-Pacific was the largest market for industrial gases. China accounted for a major chunk of the consumption in the region. However, India is expected to witness the fastest growth in the region. The development of the industrial gas industry can effectively gauge on the premise of projections of the steel and other metallurgical industries. Metallurgy and manufacture will continue to be the biggest business sectors for industrial gasses. India is the third-largest producer of iron and steel in Asia-Pacific, and the production is increasing at a rapid pacey-o-y. Growing demand for iron and steel from various industries and the up-coming steel ventures, coupled with the government initiatives to boost the manufacturing sector, are expected to boost the usage of mechanical gas creation units to address the mass prerequisites for modern gasses, which, in turn, will drive the industrial gas market in the country.
Air Liquid Company develops innovative biomethane industrial gas for vehicles. It is named bio-NGV (Natural Gas for the vehicle) and gives sustainable transport. Bio-GNV is a clean and renewable energy that reduces CO2 emissions by 90% and noise by up to 50% compared to diesel.The Industrial Gas market can be divided based on product types and its sub-type, major applications and Third Party usage area, and important regions.
This report segments the global Industrial Gas Market based on Types are:
Based on Application, the Global Industrial Gas Market is Segmented into:
Chemical and petrochemical industry
Oil and gas industry
Regions Are covered By Industrial Gas Market Report 2020 To 2026.
North America, Europe, China, Japan, Southeast Asia, India.
North America (USA, Canada, and Mexico).
Europe (Germany, France, UK, Russia, and Italy).
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia).
The report has 150 tables and figures browse the report description and TOC
Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of the Industrial Gas Market
-Changing Industrial Gas market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current, and projected Industrial Gas market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of the Industrial Gas Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.
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