PUBLISHER: Grand View Research | PRODUCT CODE: 1941491
PUBLISHER: Grand View Research | PRODUCT CODE: 1941491
The global industrial gases market size was valued USD 119.11 billion in 2025 and is projected to reach USD 172.59 billion by 2033 growing at a CAGR of 4.4% from 2026 to 2033. The growth is primarily driven by the growing manufacturing industry in developing economies of the Asia Pacific region.
Rapid industrialization and the application of industrial gases in various industries, such as manufacturing, mining, metals, food & beverage, and healthcare, are further expected to influence the market growth in the coming years. However, environmental regulations, safety, and high gas conversion costs may hinder the industry's growth during the forecast period. The U.S. accounted for a majority share in the North America regional market and is expected to retain its leading position throughout the forecast period. The U.S. emerged as one of the major countries utilizing industrial gases, as the country has the presence of a large number of major industrial gas suppliers, such as Linde, Air Liquide, Messer, and Air Products & Chemicals. The growing healthcare industry in the U.S., coupled with growing R&D in the healthcare sector owing to the recent outbreak of the COVID-19 pandemic, is expected to propel the demand for industrial gases in the U.S.
The dependence of the electronics end-use sector on industrial gases has provided an alternate source of opportunity for the market, given the broad range of applications from flat-panel displays and semiconductors to LED lights and solar cells. Unlike the petrochemical and metallurgy industry, the electronics end-use industry embraces suppliers to greater standards with regard to project experience, coverage, and technical specifications. Asia Pacific accounted for a significant revenue share in 2025 and is projected to continue to dominate the global market during the forecast period. The economic growth in countries, such as China, India, and South Korea, has shown strong growth and the trend is expected to continue over the forecast period. The presence of major electronics companies in the U.S. is also one of the major reasons driving the demand for industrial gases. In the U.S., the usage of electronics is increasing day by day, with an ever-growing number of electronic devices and gadgets being manufactured for the convenience of consumers. The growing healthcare and electronic industries across the region are likely to promote market growth. Expansion of the industrial sector is anticipated to further fuel the regional market.
Global Industrial Gases Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2033. For the purpose of this study, Grand View Research has segmented the global industrial gases market report based on product, application, distribution, and region: