Industrial Gases Market Analysis APAC, Europe, North America, South America, Middle East and Africa - US, China, Japan, India, Germany - Size and Forecast 2024-2028

Published: Mar 2024 Pages: 189 SKU: IRTNTR70494

Industrial Gases Market Forecast 2024-2028

The industrial gases market size is forecast to increase by USD 30.65 billion, at a CAGR of 5.92% between 2023 and 2028.  The growth rate of the market depends on various factors, including facility expansion strategies by vendors, the adoption of industrial gases for rapid surface chilling technology, and the overall industrial growth in emerging countries, which fuels the demand for industrial gases. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will be the  Market Size During the Forecast Period?

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Market Definition 

Industrial gases refer to a group of elemental and chemical gases (inorganic and organic) used in industrial applications. These gases are lightweight and usually have a low molecular weight. They can be used individually or as mixtures in various end-user industries.

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Market Dynamics

The market is driven by diverse sectors such as metallurgy, electronics, glass, and metals. Key segments like cryogenic filtration, air separation units, and medical gases contribute to market growth. Industries ranging from steel and glass to oil and fiber optics leverage industrial gases. The market's impact extends to environmental protection and clean energy, influencing photovoltaic industries, semiconductors, solar displays, and electronic devices. Challenges include meeting demand in a dynamic market while adapting to evolving technologies. Keeping pace with emerging trends is crucial as the industrial gases sector continues to play a pivotal role across multifaceted industries. Our researchers analyzed the market research and growth data with 2023  as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage. 

Key Market Driver

The adoption of industrial gases for rapid surface chilling technology is notably driving market growth. These gases play a vital role in various sectors, including metallurgy, electronics, and the glass industry. In addition, their application in the food & beverages and healthcare sectors is significant, with a focus on cryogenic filtration and air separation units. Furthermore, the steel segment benefits from industrial gases, particularly in processes like cryogenically cooled liquid nitrogen for rapid surface chilling technology.

Further, this technology, crucial in the food industry, relies on gases like liquid nitrogen and carbon dioxide, aligning with environmental protection and clean energy trends. As industries recognize the benefits, the demand for industrial gases is expected to surge, driving market growth in the forecast period.

Significant  Market Trends 

Increasing use of industrial gases as an alternative source of energy is an emerging trend shaping the market growth. Hydrogen is the most abundantly found element, particularly in water. In addition to being an industrial gas, it can be used for reducing the emission of GHGs. It is an alternative to petroleum-based fuels as it is renewable and abundant and does not produce any emissions. Industrial gases such as hydrogen and methane can be used to store and transport energy generated from renewable sources such as solar and wind power. Hydrogen, for example, can be produced during periods of excess renewable energy production and later converted back to electricity or used as a fuel when renewable energy generation is low. 

Further, liquid nitrogen is primarily used as a coolant and as a source of primary power in automotive. There is a shifting trend toward hybrid buses, which use hybrid propulsion systems. This system reduces nitrogen oxide and carbon dioxide emissions during acceleration after stopping. This will create new lucrative opportunities for the vendors in the market and will, therefore, positively impact the growth of the market during the forecast period.

Major Challenge

The slowdown of the manufacturing sector in China is a significant challenge hindering the market growth. The country manufactures a wide range of automotive and aircraft components as well as industrial machines and electronics. However, the Chinese economy, as well as its manufacturing sector, is facing a slowdown due to the decline in global exports and low foreign investments. The companies that had taken excessive loans for maintaining operations faced a severe crisis due to the manufacturing overcapacity in the country and dwindling profits. The average labor costs are also rising, rendering China a less attractive investment destination. The policy changes in the US, which is China's biggest export market, may also significantly affect the growth of its manufacturing sector.

However, the US government is in the process of implementing several trade reforms that may restrict the import of manufactured goods into the country from China. Weak global commodity prices have further affected China's exports to several other countries, which are currently undergoing an economic recession. Such factors hinder the growth in China, which may hamper the market growth and trends during the forecast period.

Segmentation by End-User, Type and Geography 

 End-User Analysis 

The market share growth by the manufacturing segment will be significant during the forecast years. Industrial gases are predominantly used in several manufacturing industries, such as aerospace, automotive, glass, ceramics, pulp and paper, shipbuilding, and railways coach and wagon manufacturing. Industrial gases such as oxygen, nitrogen, hydrogen, and carbon dioxide are fundamental to a wide range of manufacturing processes.

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The manufacturing segment was the largest and was valued at USD 22.58 billion in 2018. In the automotive industry, are used in automobile parts and body manufacturing as well as repair.  As industries increasingly focus on sustainability and environmental responsibility, the demand for cleaner energy solutions is growing. Industrialization and infrastructure development in emerging economies are driving the demand for manufactured goods, thereby increasing the need for manufacturing processes. The demand in the manufacturing sector is expected to continue growing as industries evolve, regulations become more stringent, and innovative applications emerge, which, in turn, will drive the growth of the market during the forecast period.

 Type Analysis 

Based on the type, the market has been segmented into hydrogen, oxygen, nitrogen, carbon dioxide and others. The hydrogen?segment will account for the largest share of this segment.? Hydrogen is among the lightest gases present in the atmosphere. Hydrogen is predominantly used in chemical industries, petroleum refining, electronics, glass, and metal processing industries. It is commonly used in the refinery industry for lowering the sulfur content and to remove pollutants and impurities from transportation fuels. It, thus, helps refiners produce better-quality products from crude oil. Hydrogen is a potential source of renewable and clean energy. Hydrogen-based fuel cells are commonly used in the transportation industry as they are a pollution-free source of energy. Furthermore, hydrogen is used in ammonia (hydrogen-nitrogen) fertilizers. Ammonia is among the most preferred chemicals in fertilizer manufacturing. Globally, decreasing arable land and growing use of fertilizers to improve agricultural yield are anticipated to boost the demand for hydrogen during the forecast period.

Region Analysis

APAC is estimated to contribute 39% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional market trends and analysis, and drivers influencing the market's trajectory throughout the projection period.

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Further, APAC was the largest contributor to the market in terms of consumption. In addition, the region is expected to witness the fastest growth rate over the forecast period, mainly due to the rising industrialization and increasing demand from end-user industries such as metals and metal fabrication, chemical and petrochemical, and food and beverage. The demand is high in APAC due to the rapid expansion of infrastructure, which requires industrial gases to produce large volumes of steel. Also, the increasing need for alternate sources of energy is fueling the expansion of gasification plants and gas-to-liquids, coal-to-liquids, and coal-to-chemical plants. 

Additionally, with the rapidly depleting fossil fuel sources, the use of hydrogen as an energy source will gain traction during the forecast period. The use of nitrogen for food preservation will also boost the growth of the market. The market in APAC is driven by increasing industrialization, rising economic growth, and the subsequent growing demand from end-user industries such as electronics and energy. Such factors are expected to drive the regional market growth during the forecast period. 

Key Companies

Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.

Air Liquide SA - The company offers industrial gases including oxygen, nitrogen, hydrogen, argon, carbon dioxide, helium, acetylene, and specialty gases for refining, petrochemical and metal industries.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including Air Liquide SA, Air Products and Chemicals Inc., AIR WATER INC, Airgas Inc., Asia Technical Gas Co Pte Ltd., BASF SE, Buzwair Industrial Gases Factories, Chemix Specialty Gases And Equipment, Goyal Group, Guangdong Huate Gas Co. Ltd., Gulf Cryo Holding CSC, Iwatani Corp., Linde Plc, Messer SE and Co. KGaA, Norco Inc., Praxair Technology Inc., SOL Spa, Taiyo Nippon Sanso Corp., Wesfarmers Ltd., and Yingde Gas Group Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  • End-user Outlook 
    • Manufacturing
    • Chemical processing
    • Metal fabrication
    • Energy
    • Others
  • Type Outlook
    • Hydrogen
    • Oxygen
    • Nitrogen
    • Carbon dioxide
    • Others
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • South America
      • Chile
      • Brazil
      • Argentina 
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Market Analyst Overview

The market is a vital component across a multitude of sectors, with a substantial impact on global industries. In the healthcare industry, industrial gases find extensive usage, from medical applications to supply chains. Gas companies, especially in the GCC region, contribute significantly to the industry's growth. Beyond healthcare, these play a crucial role in diverse end-use sectors, including the glass industry, manufacturing, and processing industries. The market encompasses various forms, including liquefied and gaseous forms, such as refrigerant and fuel gases. Industries like steel, glass, oil, and fiber optics rely on industrial gases for their manufacturing processes.

Key players like Air Products & Chemicals play a pivotal role, and noble gases contribute to specialized applications. From construction and energy & power segments to agriculture, automobiles, beverages, chemicals, and food industries, industrial gases are integral. Their usage extends to space explorations, shipbuilding, and welding, emphasizing their versatile applications. With properties like insulating gas and corrosion resistance, industrial gases are indispensable in arc welding and even in the production of window panes. The government's investment in world-class infrastructure and transport construction vehicles further underscores the significance of the market. As industries continue to evolve, the demand remains essential for various applications across a diverse range of sectors. 

Market Scope

Report Coverage

Details

Page number

189

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.92%

Market Growth 2024-2028

USD 30.65 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

5.38

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 39%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Air Liquide SA, Air Products and Chemicals Inc., AIR WATER INC, Airgas Inc., Asia Technical Gas Co Pte Ltd., BASF SE, Buzwair Industrial Gases Factories, Chemix Specialty Gases And Equipment, Goyal Group, Guangdong Huate Gas Co. Ltd., Gulf Cryo Holding CSC, Iwatani Corp., Linde Plc, Messer SE and Co. KGaA, Norco Inc., Praxair Technology Inc., SOL Spa, Taiyo Nippon Sanso Corp., Wesfarmers Ltd., and Yingde Gas Group Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market forecast during the forecast period
  • Detailed information on factors that will drive the growth of the market  between 2024 and 2028
  • Precise estimation of the market  size and its contribution of the market in focus to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across APAC, Europe, North America, South America, and Middle East and Africa
  • Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global industrial gases market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global industrial gases market 2018 - 2022 ($ billion)
    • 4.2 End-user Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – End-user Segment 2018 - 2022 ($ billion)
    • 4.3 Type Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – Type Segment 2018 - 2022 ($ billion)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by End-user

    • 6.1 Market segments
      • Exhibit 30: Chart on End-user - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on End-user - Market share 2023-2028 (%)
    • 6.2 Comparison by End-user
      • Exhibit 32: Chart on Comparison by End-user
      • Exhibit 33: Data Table on Comparison by End-user
    • 6.3 Manufacturing - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Manufacturing - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 35: Data Table on Manufacturing - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 36: Chart on Manufacturing - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Manufacturing - Year-over-year growth 2023-2028 (%)
    • 6.4 Chemical processing - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Chemical processing - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 39: Data Table on Chemical processing - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 40: Chart on Chemical processing - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Chemical processing - Year-over-year growth 2023-2028 (%)
    • 6.5 Metal fabrication - Market size and forecast 2023-2028
      • Exhibit 42: Chart on Metal fabrication - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 43: Data Table on Metal fabrication - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 44: Chart on Metal fabrication - Year-over-year growth 2023-2028 (%)
      • Exhibit 45: Data Table on Metal fabrication - Year-over-year growth 2023-2028 (%)
    • 6.6 Energy - Market size and forecast 2023-2028
      • Exhibit 46: Chart on Energy - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 47: Data Table on Energy - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 48: Chart on Energy - Year-over-year growth 2023-2028 (%)
      • Exhibit 49: Data Table on Energy - Year-over-year growth 2023-2028 (%)
    • 6.7 Others - Market size and forecast 2023-2028
      • Exhibit 50: Chart on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 51: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 52: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 53: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 6.8 Market opportunity by End-user
      • Exhibit 54: Market opportunity by End-user ($ billion)
      • Exhibit 55: Data Table on Market opportunity by End-user ($ billion)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 56: Chart on Type - Market share 2023-2028 (%)
      • Exhibit 57: Data Table on Type - Market share 2023-2028 (%)
    • 7.2 Comparison by Type
      • Exhibit 58: Chart on Comparison by Type
      • Exhibit 59: Data Table on Comparison by Type
    • 7.3 Hydrogen - Market size and forecast 2023-2028
      • Exhibit 60: Chart on Hydrogen - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 61: Data Table on Hydrogen - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 62: Chart on Hydrogen - Year-over-year growth 2023-2028 (%)
      • Exhibit 63: Data Table on Hydrogen - Year-over-year growth 2023-2028 (%)
    • 7.4 Oxygen - Market size and forecast 2023-2028
      • Exhibit 64: Chart on Oxygen - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 65: Data Table on Oxygen - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 66: Chart on Oxygen - Year-over-year growth 2023-2028 (%)
      • Exhibit 67: Data Table on Oxygen - Year-over-year growth 2023-2028 (%)
    • 7.5 Nitrogen - Market size and forecast 2023-2028
      • Exhibit 68: Chart on Nitrogen - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 69: Data Table on Nitrogen - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 70: Chart on Nitrogen - Year-over-year growth 2023-2028 (%)
      • Exhibit 71: Data Table on Nitrogen - Year-over-year growth 2023-2028 (%)
    • 7.6 Carbon dioxide - Market size and forecast 2023-2028
      • Exhibit 72: Chart on Carbon dioxide - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 73: Data Table on Carbon dioxide - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 74: Chart on Carbon dioxide - Year-over-year growth 2023-2028 (%)
      • Exhibit 75: Data Table on Carbon dioxide - Year-over-year growth 2023-2028 (%)
    • 7.7 Others - Market size and forecast 2023-2028
      • Exhibit 76: Chart on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 77: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 78: Chart on Others - Year-over-year growth 2023-2028 (%)
      • Exhibit 79: Data Table on Others - Year-over-year growth 2023-2028 (%)
    • 7.8 Market opportunity by Type
      • Exhibit 80: Market opportunity by Type ($ billion)
      • Exhibit 81: Data Table on Market opportunity by Type ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 82: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 83: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 84: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 85: Chart on Geographic comparison
      • Exhibit 86: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2023-2028
      • Exhibit 87: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 88: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 89: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.4 Europe - Market size and forecast 2023-2028
      • Exhibit 91: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 92: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 93: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.5 North America - Market size and forecast 2023-2028
      • Exhibit 95: Chart on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 96: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 97: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.6 South America - Market size and forecast 2023-2028
      • Exhibit 99: Chart on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 100: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 101: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 103: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 104: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 105: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.8 China - Market size and forecast 2023-2028
      • Exhibit 107: Chart on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 108: Data Table on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 109: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 110: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.9 US - Market size and forecast 2023-2028
      • Exhibit 111: Chart on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 112: Data Table on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 113: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 114: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.10 Japan - Market size and forecast 2023-2028
      • Exhibit 115: Chart on Japan - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 116: Data Table on Japan - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 117: Chart on Japan - Year-over-year growth 2023-2028 (%)
      • Exhibit 118: Data Table on Japan - Year-over-year growth 2023-2028 (%)
    • 9.11 Germany - Market size and forecast 2023-2028
      • Exhibit 119: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 120: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 121: Chart on Germany - Year-over-year growth 2023-2028 (%)
      • Exhibit 122: Data Table on Germany - Year-over-year growth 2023-2028 (%)
    • 9.12 India - Market size and forecast 2023-2028
      • Exhibit 123: Chart on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 124: Data Table on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 125: Chart on India - Year-over-year growth 2023-2028 (%)
      • Exhibit 126: Data Table on India - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 127: Market opportunity by geography ($ billion)
      • Exhibit 128: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 129: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 130: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 131: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 132: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 133: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 134: Matrix on vendor position and classification
            • 12.3 Air Liquide SA
              • Exhibit 135: Air Liquide SA - Overview
              • Exhibit 136: Air Liquide SA - Business segments
              • Exhibit 137: Air Liquide SA - Key news
              • Exhibit 138: Air Liquide SA - Key offerings
              • Exhibit 139: Air Liquide SA - Segment focus
            • 12.4 Air Products and Chemicals Inc.
              • Exhibit 140: Air Products and Chemicals Inc. - Overview
              • Exhibit 141: Air Products and Chemicals Inc. - Business segments
              • Exhibit 142: Air Products and Chemicals Inc. - Key news
              • Exhibit 143: Air Products and Chemicals Inc. - Key offerings
              • Exhibit 144: Air Products and Chemicals Inc. - Segment focus
            • 12.5 AIR WATER INC
              • Exhibit 145: AIR WATER INC - Overview
              • Exhibit 146: AIR WATER INC - Business segments
              • Exhibit 147: AIR WATER INC - Key news
              • Exhibit 148: AIR WATER INC - Key offerings
              • Exhibit 149: AIR WATER INC - Segment focus
            • 12.6 Asia Technical Gas Co Pte Ltd.
              • Exhibit 150: Asia Technical Gas Co Pte Ltd. - Overview
              • Exhibit 151: Asia Technical Gas Co Pte Ltd. - Product / Service
              • Exhibit 152: Asia Technical Gas Co Pte Ltd. - Key offerings
            • 12.7 BASF SE
              • Exhibit 153: BASF SE - Overview
              • Exhibit 154: BASF SE - Business segments
              • Exhibit 155: BASF SE - Key news
              • Exhibit 156: BASF SE - Key offerings
              • Exhibit 157: BASF SE - Segment focus
            • 12.8 Buzwair Industrial Gases Factories
              • Exhibit 158: Buzwair Industrial Gases Factories - Overview
              • Exhibit 159: Buzwair Industrial Gases Factories - Product / Service
              • Exhibit 160: Buzwair Industrial Gases Factories - Key offerings
            • 12.9 Goyal Group
              • Exhibit 161: Goyal Group - Overview
              • Exhibit 162: Goyal Group - Product / Service
              • Exhibit 163: Goyal Group - Key offerings
            • 12.10 Guangdong Huate Gas Co. Ltd.
              • Exhibit 164: Guangdong Huate Gas Co. Ltd. - Overview
              • Exhibit 165: Guangdong Huate Gas Co. Ltd. - Product / Service
              • Exhibit 166: Guangdong Huate Gas Co. Ltd. - Key offerings
            • 12.11 Iwatani Corp.
              • Exhibit 167: Iwatani Corp. - Overview
              • Exhibit 168: Iwatani Corp. - Business segments
              • Exhibit 169: Iwatani Corp. - Key offerings
              • Exhibit 170: Iwatani Corp. - Segment focus
            • 12.12 Linde Plc
              • Exhibit 171: Linde Plc - Overview
              • Exhibit 172: Linde Plc - Business segments
              • Exhibit 173: Linde Plc - Key news
              • Exhibit 174: Linde Plc - Key offerings
              • Exhibit 175: Linde Plc - Segment focus
            • 12.13 Messer SE and Co. KGaA
              • Exhibit 176: Messer SE and Co. KGaA - Overview
              • Exhibit 177: Messer SE and Co. KGaA - Product / Service
              • Exhibit 178: Messer SE and Co. KGaA - Key offerings
            • 12.14 Norco Inc.
              • Exhibit 179: Norco Inc. - Overview
              • Exhibit 180: Norco Inc. - Product / Service
              • Exhibit 181: Norco Inc. - Key offerings
            • 12.15 SOL Spa
              • Exhibit 182: SOL Spa - Overview
              • Exhibit 183: SOL Spa - Product / Service
              • Exhibit 184: SOL Spa - Key offerings
            • 12.16 Taiyo Nippon Sanso Corp.
              • Exhibit 185: Taiyo Nippon Sanso Corp. - Overview
              • Exhibit 186: Taiyo Nippon Sanso Corp. - Business segments
              • Exhibit 187: Taiyo Nippon Sanso Corp. - Key offerings
              • Exhibit 188: Taiyo Nippon Sanso Corp. - Segment focus
            • 12.17 Wesfarmers Ltd.
              • Exhibit 189: Wesfarmers Ltd. - Overview
              • Exhibit 190: Wesfarmers Ltd. - Product / Service
              • Exhibit 191: Wesfarmers Ltd. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 192: Inclusions checklist
                • Exhibit 193: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 194: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 195: Research methodology
                • Exhibit 196: Validation techniques employed for market sizing
                • Exhibit 197: Information sources
              • 13.5 List of abbreviations
                • Exhibit 198: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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