Industrial Gases Companies

The industrial gases market was valued at USD 94.025.8 million in 2024 and is projected to reach USD 126,526.8 million by 2030, at a CAGR of 5.1% during the forecast period. The demand for industrial gases is rising due to expanding industrialization, technological advancements, and increasing demand for high-purity gases. Many industries use basic industrial gases such as oxygen, nitrogen, hydrogen, and carbon dioxide, including manufacturing, chemicals, healthcare, energy, and food processing, to enhance production efficiency and ensure product quality. In healthcare, an aging population, a higher incidence of respiratory diseases, and advances in medical treatments and procedures are driving increased demand for medical-grade oxygen and other medical gases. In the chemical sector, growth in the demand for specialty chemicals, polymers, and petrochemical products is fueling the consumption of gases in these industries. At the same time, widespread adoption of clean energy solutions is opening new markets in hydrogen applications and carbon capture and storage technology, broadening the scope of industrial gas use. The food & beverage industry relies heavily on gases for refrigeration and preservation methods like controlled atmosphere packaging, improving organization, supply chain management, and efficiency. Growing infrastructure needs to support manufacturing, and stricter environmental regulations aimed at sustainability are further boosting demand for environmentally friendly and sustainable practices. All these factors ensure that industrial gases remain a vital component of modern economies, with consumption expected to steadily grow in the future.

Industrial Gases Market Companies

Leading companies in the industrial gases market include Air Liquide (France), Linde PLC (UK),  Air Products and Chemicals, Inc. (US),  Messer SE & Co. KGaA (Germany),  NIPPON SANSO HOLDINGS CORPORATION (Japan), BASF SE (Germany), Bhoruka Specialty Gases Pvt Ltd (India),  Ellenbarrie Industrial Gases Limited (India),  Gruppo SIAD (Italy),  Iwatani Corporation (Japan),  AIR WATER INC (Japan), and AirPower Technologies Limited (China). These companies and many other regional players meet the global requirements for industrial gases.

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Air Liquide (France) is an industrial gas company that operates through the following segments: Gas & Services (G&S), Engineering & Construction (E&C), and Global Markets & Technologies (GMT). The activities are more easily categorized based on the geographical areas where they operate, which serve as a foundation for sales strategies and development efforts. The G&S segment meets the needs for gases across various markets and applications, including major industrial clients (such as metals, chemistry, refineries, etc.), healthcare, electronics, and industrial merchants. The E&C segment designs, develops, and constructs industrial gas production plants. The GMT segment serves markets that require a global approach, leveraging science, technologies, development models, and uses to address challenges enabled by digital transformation. The Group operates in 73 countries across Asia Pacific, the Americas, Europe, and the Middle East & Africa.

Linde plc (UK) is an industrial gas company and a leading innovator in the industrial gas industry. Its core products in the industrial gases segment include atmospheric gases (oxygen, nitrogen, argon, and rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene, etc.). Linde plc also designs, engineers, and builds equipment for producing gases used internally, along with many services related to gas production and processing. It operates in various industries, including healthcare, chemicals and energy, manufacturing, metals and mining, food and beverage, and electronics. Linde plc manufactures and distributes its industrial gas products through a network of thousands of production plants, pipeline complexes, distribution centers, and vehicles. Its major pipeline complexes are primarily located in the US and China.

Air Products & Chemicals, Inc. (US) is involved in the manufacturing and distribution of industrial gases. It operates in the Americas, Asia, Europe, the Middle East, and India through the Corporate and Other segment. The segments in the Americas, Asia, Europe, the Middle East, and India primarily focus on producing and selling gases to customers in industries such as refining, chemicals, metals, electronics, manufacturing, medical, and food. The Corporate and Other segment mainly deals with selling cryogenic and gas processing equipment for air separation, which is sold to customers worldwide. The company markets products like argon, carbon dioxide, carbon monoxide, syngas, helium, hydrogen, nitrogen, oxygen, and specialty gases. It operates in approximately 50 countries and regions outside of the US.

MARKET RANKING

The industrial gases market is highly consolidated. The five largest players are Air Liquide (France), Linde plc (UK), Air Products and Chemicals, Inc. (US), Messer SE & Co. KGaA (Germany), and Nippon Sanso Holdings Corporation (Japan). These five companies account for about 80–84% of the total market share. The top four are part of larger global organizations that leverage their extensive production, distribution capabilities, vertical integration, and R&D to sell high-purity gases and solutions. They hold a strong strategic position with long-term supply commitments, a diverse product range, and investments in key growth sectors and industries, including chemicals, pharmaceuticals, food and beverage, energy, and clean energy. Despite this high level of consolidation, regional and niche competitors still operate, particularly in Asia and the Middle East, where they utilize localized production, customized gas solutions, and low-cost delivery. Additionally, sustainability initiatives, including hydrogen production and carbon capture technologies, are reshaping the competitive landscape. Industry consolidation offers both challenges and opportunities for participants and new entrants, especially in emerging economies. Increasing demand for industrial gases is driven by the growth in industrial capacity and the adoption of clean energy solutions.

Related Reports:

Industrial Gases Market by Type (Oxygen, Nitrogen, Hydrogen, Carbon Dioxide, Acetylene, Inert Gases), End-use Industry (Chemical, Electronics, Food & Beverage, Healthcare, Manufacturing, Metallurgy, Refining), and Region - Global Forecast to 2030