The Latest Industrial Gas Industry Statistics Explained
The global industrial gas market size was worth USD 96.5 billion in 2019.
The statistic “The global industrial gas market size was worth USD 96.5 billion in 2019” indicates the total value of the industrial gas market worldwide as measured in US dollars for the year 2019. This figure encompasses the total revenue generated by the production, distribution, and consumption of industrial gases across various industries such as manufacturing, healthcare, electronics, and others. The market size serves as a key indicator of the economic significance and scale of the industrial gas sector, reflecting the demand for gases like oxygen, nitrogen, helium, and others for industrial applications. Analysing trends in the market size over time can provide insights into the growth, dynamics, and competitiveness of the global industrial gas industry.
The industrial gas industry is expected to grow at a CAGR of 6.3% from 2020 to 2027.
The statement “The industrial gas industry is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.3% from 2020 to 2027” indicates that the industrial gas sector is projected to experience a steady annual growth rate of 6.3% over the specified period. CAGR is a measure used to smooth out fluctuations in growth rates over time and provides a consistent rate of growth across the entire period. This statistic suggests that the industrial gas industry is anticipated to expand significantly and consistently over the next seven years, reflecting positive economic trends, market demand, and potentially new opportunities for companies operating in this sector.
Bulk gases accounted for over 65.0% of global volume in 2019.
The statistic “Bulk gases accounted for over 65.0% of global volume in 2019” indicates that bulk gases, such as oxygen, nitrogen, and carbon dioxide, made up a substantial proportion of the total volume of gases consumed or produced worldwide in the year 2019. This suggests that these bulk gases played a significant role in various industries and applications, including medical, industrial, and manufacturing processes. The high percentage of global volume attributed to bulk gases highlights their widespread utilization and importance in supporting numerous essential functions across different sectors on a global scale.
Hydrogen gas accounted for 9.5% of the global revenue in 2019.
The statistic that “Hydrogen gas accounted for 9.5% of the global revenue in 2019” indicates that hydrogen gas sales contributed significantly to the overall revenue generated worldwide in that year. This means that businesses involved in the production, distribution, and sale of hydrogen gas products generated a substantial portion of the total revenue earned across various industries globally. The statistic highlights the increasing importance of hydrogen gas as a source of revenue and indicates its growing significance in the global market landscape in 2019.
The helium segment in the industrial gas industry was valued at USD 3.06 billion in 2019.
The statistic indicates that the helium segment within the industrial gas industry generated a total revenue of USD 3.06 billion in the year 2019. This suggests a significant market size and demand for helium within various industrial applications such as in healthcare, electronics, aerospace, and energy sectors. The value of USD 3.06 billion reflects the economic importance and growth potential of the helium industry, highlighting its contribution to the overall industrial gas market. This statistic serves as a key indicator of the market performance and financial significance of helium as a valuable commodity in the industrial gas sector.
Asia-Pacific dominated the industrial gas industry in 2020, contributing more than one-third of the total share.
The statistic “Asia-Pacific dominated the industrial gas industry in 2020, contributing more than one-third of the total share” indicates that the Asia-Pacific region was the leading contributor to the global industrial gas market in 2020, accounting for over 33% of the total market share. This suggests that the industrial gas industry in Asia-Pacific was particularly strong and influential during that year, surpassing other regions in terms of production, consumption, or revenue. The dominance of the Asia-Pacific region in the industrial gas sector points to its significant role in driving the growth and development of this industry on a global scale, highlighting the region’s economic importance and industrial capabilities.
The chemical & petrochemical end-user industry accounted for nearly half of the industrial gas market in 2020.
The statistic that the chemical & petrochemical end-user industry accounted for nearly half of the industrial gas market in 2020 indicates that a significant portion of the demand for industrial gases, such as oxygen, nitrogen, hydrogen, and others, comes from this specific industry sector. Industrial gases play crucial roles in various processes within the chemical and petrochemical industry, including production, refining, and transportation. This strong reliance on industrial gases by the chemical and petrochemical sector suggests the importance of these gases for their operations and underscores the significant market share they hold within the overall industrial gas industry. Understanding this statistic can help industry professionals and stakeholders make informed decisions regarding investments, supply chain management, and strategic partnerships within the industrial gas sector.
The carbon dioxide segment in industrial gas market is projected to reach $11.94 billion by 2028.
The statistic indicates that the carbon dioxide segment within the industrial gas market is expected to grow and reach a value of $11.94 billion by the year 2028. This suggests a significant increase in demand for carbon dioxide within various industrial applications such as food and beverage processing, healthcare, and manufacturing. Factors driving this growth could include an increased focus on sustainability and environmental regulations, leading to greater use of carbon dioxide for processes such as carbonation, refrigeration, and as a chemical feedstock. The projected growth in this segment highlights the importance and expanding role of carbon dioxide within the industrial sector in the coming years.
The cylinder & packaged distribution mode held 22.5% of the industrial gas market share in 2018.
The statistic indicates that in 2018, the cylinder & packaged distribution mode accounted for 22.5% of the total market share within the industrial gas industry. This distribution mode refers to the practice of supplying industrial gases in cylinders or other types of packaging to customers. The 22.5% market share suggests that this method of distribution was a significant player in the industry during that year, highlighting its importance and prevalence among businesses and consumers in need of industrial gases for various applications.
The Middle East & Africa industrial gas market is expected to experience highest growth, at a CAGR of 7.3% from 2019 to 2025.
The statistic indicates that the industrial gas market in the Middle East & Africa region is projected to exhibit strong growth over the forecast period from 2019 to 2025, with a Compound Annual Growth Rate (CAGR) of 7.3%. This suggests a significant increase in the demand for industrial gases across various sectors such as manufacturing, healthcare, energy, and others in the region. Factors contributing to this growth may include rising industrial activities, increasing investments in infrastructure development, and a shift towards cleaner energy sources. Companies operating in the industrial gas sector in the Middle East & Africa region may benefit from this projected growth by capitalizing on the expanding market opportunities and potential for revenue growth.
Nitrogen, the most widely used industrial gas, accounted for 32.3% revenue share of the market in 2017.
The statistic reveals that nitrogen, the most commonly utilized industrial gas, held a significant portion of the market revenue in 2017, accounting for 32.3%. This indicates the strong demand and widespread application of nitrogen in various industries such as manufacturing, healthcare, and electronics. The substantial revenue share suggests that nitrogen is a key player in the industrial gas market, reflecting its importance in supporting essential processes and operations across different sectors. This statistic highlights the dominant position of nitrogen and its significant contribution to the overall market performance in 2017.
The medical & healthcare segment in the industrial gas market is expected to exhibit a CAGR of 6.8% from 2020 to 2027.
This statistic indicates that within the industrial gas market, specifically in the medical and healthcare segment, there is projected to be a Compound Annual Growth Rate (CAGR) of 6.8% from the year 2020 to 2027. This suggests that the demand for industrial gases within the medical and healthcare industry is anticipated to grow steadily at an average rate of 6.8% annually over this time period. Factors such as increasing healthcare expenditure, technological advancements in medical treatments requiring specialized gases, and the expanding healthcare industry worldwide may contribute to this growth trend. As a result, companies operating in the industrial gas market serving the medical and healthcare segment may benefit from this projected growth opportunity.
Demand for oxygen is projected to rise at an average annual rate of 7% through 2025.
The statistic “Demand for oxygen is projected to rise at an average annual rate of 7% through 2025” indicates that there is expected to be a consistent and significant increase in the demand for oxygen over the specified period. This projection suggests that the demand for oxygen is expected to grow by an average of 7% each year until 2025, reflecting a trend towards higher usage of oxygen in various applications such as medical treatments, industrial processes, and environmental initiatives. The statistic serves as a key indicator for stakeholders, policymakers, and businesses involved in the production, distribution, and utilization of oxygen, highlighting the need to plan for increased supply and ensure adequate resources to meet the rising demand in the coming years.
The U.S. industrial gas manufacturing market size was valued at $8.8 billion in 2020.
This statistic represents the total market value of industrial gas manufacturing in the United States in the year 2020, which was estimated to be $8.8 billion. Industrial gases are essential for various industries including manufacturing, healthcare, and electronics, among others. The market size indicates the total revenue generated by companies within this sector, highlighting the significant contribution of industrial gas manufacturing to the overall economy. Factors such as demand from key industries, technological advancements, and regulatory requirements can influence the market size and growth over time. This statistic provides valuable insights for industry analysts, policymakers, and investors to understand the scale and dynamics of the U.S. industrial gas manufacturing market.
Growth of the metal fabrication industry, which had an estimated value of $71 billion in 2018, is a major driver for the industrial gas industry.
The statistic highlights the significant impact of the growth in the metal fabrication industry on the industrial gas industry. With an estimated value of $71 billion in 2018, the metal fabrication industry serves as a key driver for the demand of industrial gases. This growth suggests an increasing need for industrial gases such as oxygen, nitrogen, and argon in various metal fabrication processes, such as welding, cutting, and heating. As the metal fabrication industry expands, so does the demand for industrial gases, making it a crucial factor influencing the growth and revenue of the industrial gas sector.
Liquid products dominated the industrial gas market in 2021, with a share of 44.1%.
The statistic indicates that liquid products, such as liquid oxygen, nitrogen, and argon, held the largest market share within the industrial gas sector in 2021, accounting for 44.1% of the total market. This dominance suggests that there was a higher demand for liquid industrial gases compared to other forms, like compressed gases or specialty gases, during the specified time period. The popularity of liquid products could be attributed to factors such as ease of transportation and storage, cost-effectiveness, and versatility in various industrial applications. The data provides valuable insights into consumer preferences and market trends within the industrial gas industry, highlighting the significance of liquid products as a key player in the market landscape.
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