Industrial Gases Market Report 2026

Industrial Gases Market Overview

• Industrial Gases market size has reached to $110.87 billion in 2025 • Expected to grow to $155.96 billion in 2030 at a compound annual growth rate (CAGR) of 7.1% • Growth Driver: Industrial Gases Play Vital Role In The Expanding Oil And Gas Industry • Market Trend: Advanced Devices For Enhanced Workplace Safety • Asia-Pacific was the largest region and fastest growing region.

What Is Covered Under Industrial Gases Market?

Industrial gases refer to gaseous substances produced for various industrial applications, including manufacturing, healthcare, and energy. They are used in processes such as welding, food processing, and pharmaceuticals, enhancing operational efficiency, product quality, and safety while reducing environmental impact. The main product types of industrial gases are oxygen, nitrogen, hydrogen, carbon dioxide, acetylene, and argon. Hydrogen is a highly flammable and odorless gas and is widely used in industrial processes, including petroleum refining, ammonia production, and the production of methanol and other chemicals. The various applications include packaging, coolant, carbonation, cryogenic, cutting and welding, laboratory, air separation, and others, and are distributed through various distribution channels such as on-site, bulk, and cylinder. These are used by various end users such as metallurgy, healthcare, chemicals, food and beverage, oil and gas, power, pulp and paper, electronics, and others.

What Is The Industrial Gases Market Growth Forecast?

The industrial gases market size is expected to see strong growth in the next few years. It will grow to $155.96 billion in 2030 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to increasing investments in hydrogen economy, rising semiconductor fabrication capacity, expansion of renewable energy integration, growing demand for medical gases, increasing focus on low-emission industrial processes. Major trends in the forecast period include growing demand for high-purity industrial gases, rising use in semiconductor manufacturing, expansion of hydrogen applications, increasing adoption in healthcare services, enhanced focus on energy-efficient gas production.

Global Industrial Gases Market Segmentation

1) By Product: Oxygen, Nitrogen, Hydrogen, Carbon dioxide, Acetylene, Argon 2) By Application: Packaging, Coolant, Carbonation, Cryogenic, Cutting And Welding, Laboratory, Air Separation, Other Applications 3) By Distribution: On-Site, Bulk, Cylinder 4) By End User: Metallurgy, Healthcare, Chemical, Food And Beverage, Oil And Gas, Power, Pulp And Paper, Electronics, Other End Users Subsegments: 1) By Oxygen: Medical Oxygen, Industrial Oxygen, High-Purity Oxygen 2) By Nitrogen: Liquid Nitrogen, Gaseous Nitrogen, Nitrogen For Food Preservation 3) By Hydrogen: Hydrogen For Fuel Cells, Hydrogen For Refining, Industrial Hydrogen 4) By Carbon Dioxide: Liquid Carbon Dioxide, Dry Ice, Carbon Dioxide For Beverage Carbonation 5) By Acetylene: Acetylene For Welding, Acetylene For Chemical Synthesis 6) By Argon: Argon For Welding, Argon For Lighting And Electronics, High-Purity Argon

What Is The Driver Of The Industrial Gases Market?

The increasing application of industrial gases in the oil and gas industry is expected to propel the growth of the industrial gases market going forward. The oil and gas industry is the global sector involved in the exploration, extraction, refining, transportation, and distribution of petroleum products. It encompasses activities related to crude oil, natural gas, and various hydrocarbon derivatives. Industrial gases are increasingly utilized in the oil and gas industry for different purposes, such as boosting production, gas lift techniques to enhance oil extraction, and gas purging and blanketing processes for safety in refining. Additionally, industrial gases are used for inerting to prevent explosions, gas detection to ensure a safe working environment, cryogenic applications in the storage and transportation of natural gas, and welding and cutting processes. For instance, in June 2023, according to the data published by the Energy Information Administration, a US-based federal statistical and analytical agency, global oil demand is expected to rise by 6% between 2022 and 2028, reaching 105.7 million barrels per day, while global upstream investments in oil and gas exploration, extraction, and production are set to grow 11% year-on-year to a record USD 528 billion in 2023. Therefore, the increasing application of industrial gases in the oil and gas industry is driving the growth of the industrial gases industry.

What Is The Driver Of The Industrial Gases Market?

The increasing application of industrial gases in the oil and gas industry is expected to propel the growth of the industrial gases market going forward. The oil and gas industry is the global sector involved in the exploration, extraction, refining, transportation, and distribution of petroleum products. It encompasses activities related to crude oil, natural gas, and various hydrocarbon derivatives. Industrial gases are increasingly utilized in the oil and gas industry for different purposes, such as boosting production, gas lift techniques to enhance oil extraction, and gas purging and blanketing processes for safety in refining. Additionally, industrial gases are used for inerting to prevent explosions, gas detection to ensure a safe working environment, cryogenic applications in the storage and transportation of natural gas, and welding and cutting processes. For instance, in June 2023, according to the data published by the Energy Information Administration, a US-based federal statistical and analytical agency, global oil demand is expected to rise by 6% between 2022 and 2028, reaching 105.7 million barrels per day, while global upstream investments in oil and gas exploration, extraction, and production are set to grow 11% year-on-year to a record USD 528 billion in 2023. Therefore, the increasing application of industrial gases in the oil and gas industry is driving the growth of the industrial gases industry.

Global Industrial Gases Market Trends and Insights

Major companies in the industrial gases market are focused on developing advanced devices, such as industrial gas detectors, to enhance workplace safety and maximize their profits in the market. An industrial gas detector is a specialized device designed to monitor and detect the presence of specific gases in industrial environments. For instance, in December 2023, CO2Meter, a US-based business that designs and manufactures scientific devices, launched the CM-900 industrial gas detector designed to measure oxygen or carbon dioxide (CO2) to ensure the safety of personnel working in proximity to hazardous gases. The CM-900 features an environmentally adaptive industrial enclosure suitable for harsh and wash-down environments, and it includes audible and visual alarms to notify of unsafe conditions.

What Are Latest Mergers And Acquisitions In The Industrial Gases Market?

In October 2025, Air Liquide, a France-based multinational supplier of industrial gases and services, acquired NovaAir for an undisclosed amount. With this acquisition, Air Liquide aims to expand its footprint in the Indian industrial gases market, strengthen its production and distribution capabilities, support the growing demand from industrial and healthcare sectors, and accelerate its long-term growth strategy in India. NovaAir is an India-based industrial gases company that supplies medical and industrial gases and provides associated services across multiple sectors.

Regional Insights

Asia-Pacific was the largest region in the industrial gases market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain

What Defines the Industrial Gases Market?

The industrial gases market consists of sales of compressed gases, liquified gases, refrigerant gases, specialty gases, and fuel gases. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Industrial Gases Market Report 2026?

The industrial gases market research report is one of a series of new reports from The Business Research Company that provides market statistics, including industry global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the industrial gases industry. The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.