René Muschter
Research Expert covering Industry & Mobility
Industrial gases worldwide - statistics & facts
The industrial gases industry is a crucial global sector. It encompasses the production and supply of gases like oxygen, nitrogen, hydrogen, carbon dioxide, and noble gases, which are essential for various industrial processes. Industrial gases are used in a wide range of industries, including manufacturing, healthcare, food and beverage, electronics, and energy. The total global market value of industrial gases amounted to some 1.67 billion U.S. dollars in 2024. It is forecast that the market value will increase to 2.07 billion U.S. dollars worldwide in 2029.
The industrial gases industry is vital globally, providing essential gases like oxygen, nitrogen, and hydrogen for diverse applications in manufacturing, healthcare, and energy. This sector significantly impacts the economy and drives technological advancements, particularly in sustainable energy solutions.
Main applications of industrial gases
Industrial gases play a pivotal role across various manufacturing sectors. Chemical manufacturing processes, for instance, rely on industrial gases as raw materials. In chemical manufacturing, these gases serve as essential raw materials. The steel and metal fabrication industries consume large volumes of gases, particularly oxygen, to enhance combustion processes. The automotive and shipbuilding sectors also heavily depend on industrial gases for cutting and welding operations. Other important industrial gas applications include special gases for semiconductor manufacturing, breathing and medicinal gases, food and beverage gases, and hydrogen energy.Key players in the industrial gas sector
Linde, Air Liquide, Air Products, and Taiyo Nippon Sanso are the largest industrial gas companies worldwide. Together, these four conglomerates account for over 80 percent of the industrial gas sector. Linde, a global multinational headquartered in Ireland, is currently the leading company in the industry. The company as it is known today was formed after the merger of german company Linde AG and U.S.-based company Praxair in 2018. In 2023, Linde employed 66 thousand people and generated a revenue of almost 33 billion U.S. dollars. Air Liquide and Air Products are the second and third biggest players in the sector, with chemical sales of 29.4 billion euros and 12.6 billion U.S. dollars, respectively.The industrial gases industry is vital globally, providing essential gases like oxygen, nitrogen, and hydrogen for diverse applications in manufacturing, healthcare, and energy. This sector significantly impacts the economy and drives technological advancements, particularly in sustainable energy solutions.
