Wiseguyreports.Com Publish Market Research Report On-“Industrial Gas Market 2019 Global Key Manufacturers Analysis, Sales, Supply, Demand and Forecast to 2023”
PUNE, INDIA, December 6, 2019 /EINPresswire.com/ —
Industrial gases are gaseous materials or mixtures of gases that are used in industries for several purposes. These gases are provided to industries in cylinders for use. The various gases that are used in industries include oxygen, hydrogen, nitrogen, helium, argon, carbon dioxide and acetylene. Most of these gases are available either individually or as a mixture depending upon their use and the industry they are to be used in. For instance, in the welding process, argon is used extensively and so the industries where welding is a part of the operations require huge amounts of this gas.
Market by Top Industrial Gas Companies, this report covers
Air Products and Chemicals
Taiyo Nippon Sanso
Maxima Air Separation Center
Goyal MG Gases
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The global industrial gases market is expected to reach almost 115 billion dollars by the end of the year 2025. From 75.51 billion dollars in 2016, the market is expected to register revenue of 106.26 billion dollars in 2022. The CAGR of the global industrial gas market is estimated to be around 6%. The expansion of this market globally can be attributed to increased industrialization across the globe.
The growth and expansion of industries like automobiles, petrochemicals, food and beverages, metal fabrication, healthcare and oil and gas is driving the growth of the industrial gas market. Metal industries for metal manufacturing need gases like oxygen, hydrogen and argon thereby increasing their demand.
The global industrial gas market can be segmented based on Type and Application.
The market by type is split into nitrogen, oxygen, argon, hydrogen and carbon dioxide. All these gases contribute in a significant manner to the global market share. The demand for oxygen will witness an increase in the coming years. For instance, the demand for oxygen is increasing in glass cutting to get a clear cutting. The adoption of new technologies for steel production is also driving the demand of oxygen.
On basis of application, the industrial gas market is split into several industries like metal production and fabrication, automobile, chemicals, healthcare and foods and beverages. The foods and beverages industry makes use of nitrogen and carbon dioxide because of which the demand of these gases is always steady and these hold a significant market share. Other industries like metal fabrication and automobile also add to the global market share in a significant manner.
Industrial gases can be sold on the basis of tonnage, in bulk or in packages. Packaged gases available in cylinders hold the maximum share of the global industrial gas market. This is because most industries make use of these gases in their compressed form in cylinders.
Asia Pacific registers revenue of almost 32.48% in the global industrial gas market and will continue to witness an increase in the share owing to the establishment and expansion of the industrial sector of this region. Europe also contributes revenue of approximately 25.63% to the global industrial gases market. Other regions like North America, Middle East, Africa and Central America are also witnessing an expansion of industrial gases market.
The demand for industrial gases is driven by the growth of industries that use these for various purposes. The global industrial gas market is also being driven the development of enhanced oil recovery techniques. The rising sale of automobiles is also leading to an increased demand of industrial gases.
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Table of Contents –Analysis of Key Points
1 Market Overview
2 Manufacturers Profiles
3 Global Industrial Gas Sales, Revenue, Market Share and Competition by Manufacturer (2017-2018)
4 Global Industrial Gas Market Analysis by Regions
5 North America Industrial Gas by Country
6 Europe Industrial Gas by Country
7 Asia-Pacific Industrial Gas by Country
8 South America Industrial Gas by Country
9 Middle East and Africa Industrial Gas by Countries
10 Global Industrial Gas Market Segment by Type
11 Global Industrial Gas Market Segment by Application
12 Industrial Gas Market Forecast (2019-2023)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
List of Tables and Figures
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Source: EIN Presswire