How Has The Industrial Gases- Metals And Metal Fabrication Market Size Evolved In Recent Years?
The industrial gases- metals and metal fabrication market has seen considerable growth due to a variety of factors.
• The market for industrial gases, metals, and metal fabrication has been expanding significantly over recent years. Forecasts suggest it will increase from $54.34 billion in 2024 to $57.61 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%.
Factors contributing to this historic growth include the rising need for industrial gases in metal welding and cutting, adoption of these gases for heat treatment and surface modification, advancements in metal recycling, increased use of industrial gases in the production of non-ferrous metals, and heightened demand for metal fabrication in the automotive industry.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Industrial Gases- Metals And Metal Fabrication Market?
The industrial gases- metals and metal fabrication market is expected to maintain its strong growth trajectory in upcoming years.
• A significant expansion is projected for the industrial gases - metals and metal fabrication market in the upcoming years, potentially reaching $76.27 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 7.3%.
The anticipated growth throughout the forecast period can be ascribed to an increased demand for specialty gases in additive manufacturing processes, expansion in the automotive sector employing metal fabrication, extensive use of industrial gases in emerging markets, proliferation of the electronics sector, and incorporation of industrial gases in metal 3D printing technologies. Prominent trends for the forecast period comprise the incorporation of sophisticated monitoring and control systems, concoction of tailored gas blends, a focus on sustainable and environmentally friendly gas production techniques, partnerships between gas providers and metal fabrication firms, and novel packaging and delivery procedures.
Which Key Drivers Are Propelling The Industrial Gases- Metals And Metal Fabrication Market's Growth?
The growth of the industrial gases-metals and metal fabrication markets is projected to be spurred by a rise in automotive production. The automotive industry involves companies or institutions that design, manufacture, wholesale, retail, and upkeep motor vehicles. Industrial gases are vital in the production of automobiles because they provide several applications in the creation and processing of metals, including metal heating, welding, shielding, cutting, coating, among others. For example, the IBEF (Indian Brand Equity Foundation), a government export promotion agency based in India, reported in February 2022 that total passenger vehicle production, including 3-wheelers and two-wheelers, reached 1,860,809 units in 2022. Consequently, the surge in automotive production is fuelling the expansion of the industrial gases-metals and metal fabrication markets.
What Are The Key Segments Within The Global Industrial Gases- Metals And Metal Fabrication Market?
The industrial gases- metals and metal fabrication market covered in this report is segmented –
1) By Type: Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Other Types
2) By Function: Primary Metal Production, Metal Fabrication
3) By Transportation Mode: Cylinder And Packaged Gas Distribution, Merchant Liquid Distribution, Tonnage Distribution
Subsegments:
1) By Oxygen: Medical Oxygen, Industrial Oxygen
2) By Nitrogen: Liquid Nitrogen, Gaseous Nitrogen
3) By Hydrogen: Industrial Hydrogen, High-Purity Hydrogen
4) By Carbon Dioxide: Liquid Carbon Dioxide, Gaseous Carbon Dioxide
5) By Acetylene: Pure Acetylene, Acetylene in Gas Mixtures
6) By Other Types: Argon, Helium, Neon, Other Specialty Gases
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How Are New Trends Impacting The Size Of The Industrial Gases- Metals And Metal Fabrication Market?
The trend of partnerships and joint initiatives is becoming increasingly significant in the markets of industrial gases, metals, and metal fabrication. Major players in these markets are zeroing in on strategic collaborations, such as creating cutting-edge industrial facilities. An exemplifying case occurred in September 2023, when Westfalen, a tech firm based in Germany, initiated a new industrial gases filling facility in Arzal, a town situated on Brittany's Atlantic coast in France. This development broadens Westfalen's foothold in France, which stands as the company's biggest overseas market and bolsters its capacity by in excess of 130,000 cylinders annually. The motive behind this new plant is to amplify operational effectiveness by manufacturing gases in proximity to customers, thus minimising logistics travel and aiding in decarbonisation. This investment underlines Westfalen's dedication towards the increasing necessity for industrial gases while concurrently emphasising sustainability in its daily operations.
Who Are the Key Players in the Industrial Gases- Metals And Metal Fabrication Market?
Major companies operating in the industrial gases- metals and metal fabrication market include:
• Praxair Inc.
• Cryotec Anlagenbau GmbH
• Air Products and Chemicals Inc.
• Iwatani Corporation
• The Messer Group GmbH
• Linde plc
• Southern Industrial Gas Sdn Bhd
• Nippon Sanso Holdings Corporation
• Singhal Gas Products
• Yingde Gases Group Company Limited
• Matheson Tri-Gas Inc.
• Gulf Cryo
• Welsco Inc.
• Ellenbarrie Industrial Gases Ltd.
• Sicgil India Limited
• Axcel Gases
• AGP Gas
• EuroWeld Group
• National Welding Supply Co.
• Nexair LLC
• Messer Canada Inc.
• Oxygen Service Company
• HyCO
• Universal Industrial Gases Inc.
• AGL Industrial Supply Inc.
• Praxair Canada Inc.
• Calgaz
• Cryoplant LLC
• CryoSource
• Cryo-Flo Industries Ltd.
What are the Regional Insights into the Industrial Gases- Metals And Metal Fabrication Market?
Asia-Pacific was the largest region in the industrial gases-metals and metal fabrication market in 2024. The regions covered in the industrial gases- metals and metal fabrication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
