Industrial Gases Market Size

Industrial Gases Market size was valued at USD 104.23 Billion in 2023 and is poised to grow from USD 110.07 Billion in 2024 to USD 170.2 Billion by 2032, growing at a CAGR of 5.60% during the forecast period (2025-2032).

Industrial gases are created as gaseous products for use in a wide range of industrial production processes at ambient temperature and pressure. Pure gases, compounds, and gas mixes are among them. Oxygen, nitrogen, hydrogen, carbon dioxide, carbon monoxide, acetylene, and noble gases are some of the most widely used industrial gases. Industrial gases are provided via gas cylinders, bulk liquid, or pipelines in either gaseous or liquified form. The industrial gases market is fueled by an increase in global oil & gas refining capacity as well as increased natural gas consumption for home and industrial applications.

Growing demand for industrial gases from key end-use sectors such the oil and gas, chemicals, petrochemicals, food and beverage, and power industries. The increasing use of industrial gases in various sectors such as construction, metals, mining, and food services is driving the market's expansion. Furthermore, increasing global demand for electronic gadgets and renewables are driving market expansion. Furthermore, rising crude oil consumption and the necessity for refining may boost demand for industrial gases during the anticipated period.

US Industrial Gases Market is poised to grow at a sustainable CAGR for the next forecast year.