Global Helium Market Size, Share, Growth Analysis, By Types(Liquid, Gas), By Application(Breathing Mixes, Cryogenics), By End user(healthcare, electronics & semiconductors) - Industry Forecast 2022-2028

Global Helium Market size was valued at USD 3.94 billion in 2021 and is poised to grow from USD 4.45 billion in 2022 to USD 13.26 billion by 2030, growing at a CAGR of 12.9% in the forecast period (2023-2030).

In MRI scanners, NMR spectrometers, and the Large Hadron Collider (LHC), helium is utilised to cool superconducting magnets. Additionally, it was utilised to cool the liquid oxygen and hydrogen that powered the Apollo spacecraft as well as satellite sensors. Helium comes in two major forms: gaseous and liquid. A superfluid, liquid helium effectively acts like a zero-viscosity fluid under the control of Euler's equations.

These are utilised in a variety of end-user industries, including aerospace and aviation, electronics and semiconductors, nuclear power, healthcare, welding, and metal fabrication. They are also utilised in a variety of applications, including breathing mixtures, cryogenics, leak detection, pressurisation and purging, welding, controlled atmospheres, and other applications.

Helium is utilised as an adjuvant therapy in a variety of healthcare settings for the onset of asthma attacks, ARDS, croup, COPD, and bronchiolitis. Helium, for instance, is used in magnetic resonance imaging (MRI) systems to control strong magnets, which is helpful for diagnosing pregnancy as well as monitoring various ailments of the belly, chest, and pelvis.

Top-down and bottom-up approaches were used to estimate and validate the size of global Helium Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Segments covered in this report

Global Helium market is segmented based on the Types, Application, end user, and region. Based on the Types, the Helium Market is segmented as liquid and gas. Based On Application, the Helium Market is segmented as Breathing Mixes, Cryogenics, Leak Detection, Pressurizing and Purging, Welding, Controlled Atmosphere, and Others. Based on end user, the Helium Market is segmented into healthcare, electronics & semiconductors, aerospace, defense, energy and power, and others. Based on Region Helium Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Driver

Due to the huge increase in natural gas consumption, gas operators have concentrated their efforts on the development of conventional and unconventional gas sources. Natural gas has a byproduct called helium. As a result, it is anticipated that increasing capital expenditures for on-field development will reduce the supply variability.

Computers, tablets, and smartphones require semiconductor chips to carry out compute, storage, and communication functions. The majority of these chips are made of silicon, a common semiconductor material.

Helium is frequently utilised in the manufacturing of semiconductors due to its high thermal conductivity, which aids in controlling the temperature of the silicon. Additionally, helium has low-temperature and inert gas characteristics. As a result, its use in the electronics sector is predicted to rise. Therefore, it is anticipated that rising investments in the electronics industry will drive the global helium market.

Restraint

The sector has been significantly impacted by the strict safety regulations that apply to the manufacturing and transportation of helium gas. These substances turn toxic and hazardous when they are subjected to high pressures and temperatures. Businesses in this industry should make investments in equipment, methods, and procedures to lower hazardous levels and chemical concentrations. These legislation increased the operating expenses for companies in this industry, lowering the potential for expenditures in the launch of new goods and the creation of new markets, and thus having an effect on market expansion.

Market Trends

Geographically, helium is most frequently used in the healthcare sector in North America. The healthcare sector accounts for a sizable share of US GDP. Healthcare spending in the United States climbed 9.7% in 2020, reaching USD 4.1 trillion, or USD 12,530 per person, according to the National Health Expenditure Accounts (NHEA). The GDP spent on healthcare accounted for 19.7% of the country's GDP.

Similar to this, more public and private spending, better services, and increased coverage have all contributed to India's healthcare sector's tremendous growth. The government's liberalisation of policy has allowed for 100% FDI in the medical device sector, and as a result, a number of global corporations are prepared to establish production facilities in the country.