Industrial Gas Global Market To Reach Value Of About $122 Billion In 2025
16 Jun, 2021
The industrial gas market consists of the sales of industrial gases by entities (organizations, sole traders or partnerships) that manufacture industrial organic and inorganic gases in compressed, liquid, and solid forms. Industrial gases are also referred to as bulk gases or commodity gases.
Global Industrial Gas Market Size And Drivers:
The global industrial gas market is expected to grow from $96.81 billion in 2020 to $101.06 billion in 2021 at a compound annual growth rate (CAGR) of 4.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $122.43 billion in 2025 at a CAGR of 5%. Technology development is the main driver of the market.
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Trends In The Global Industrial Gas Market
Industrial gas companies are increasingly supplying carbon dioxide emitted from industrial facilities to greenhouses. CO2 emitted from power plants and refineries is stored in local capacities and empty natural gas fields, and transported to greenhouses via pipelines. This process acts as an intelligent CO2 recycling solution and reduces the carbon footprint of greenhouses. For example, Linde collects carbon flow from the Shell oil refinery near Rotterdam, Netherlands, and supplies about 400,000 tonnes of CO2 to over 580 greenhouses across Rotterdam and Amsterdam. This saves the combustion of 115 million cubic meters of natural gas and avoids emissions of 205,000 tonnes per year of CO2.
Global Industrial Gas Market Segments:
The global industrial gas market is further segmented based on type, end user, mode of supply, packaging and geography.
By Type: Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Other Industrial Gas
By End-User Industry: Chemicals, Metallurgy, Manufacturing, Food & Beverage, Healthcare, Others
By Mode of Supply: Bulk, Packaging, Pipe Line
By Packaging: Cylinders, Bottles, Canisters, Cartridges, Cryogenic Tanks/Vessels, Others
By Geography: The global industrial gas market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global industrial gas market, accounting for 42% of the market in 2020.
Read More On The Report For The Global Industrial Gas Market At:https://www.thebusinessresearchcompany.com/report/industrial-gas-global-market-report
Industrial Gas Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides industrial gas market overviews, analyzes and forecasts market size and growth for the global industrial gas market, industrial gas market share, industrial gas market players, industrial gas market segments and geographies, industrial gas market’s leading competitors’ revenues, profiles and market shares. The industrial gas market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.