Industrial Gas Market will Generate New Growth Opportunities By 2022

A recent report published by TheBusinessResearchCompany on Industrial Gas Market provides in-depth analysis of segments and sub-segments in the global as well as regional.
By: The Business Research Company
DUBLIN - Feb. 7, 2020 - PRLog -- The industrial gas market consists of the sales of industrial gases by entities (organizations, sole traders or partnerships) that manufacture industrial organic and inorganic gases in compressed, liquid, and solid forms. Industrial gases are also referred to as bulk gases or commodity gases. Growth in the historic period resulted from emerging markets growth and technology development. Going forward, economic growth and applications of industrial gas in healthcare will drive growth.

Industrial Gas Market Segmentation : -

By Type Of Gas - The industrial gas market is segmented by type of gas into

1.       Nitrogen

2.       Oxygen

3.       Hydrogen

4.       Carbon dioxide

5.       Others

Hydrogen had the highest growth rate of nearly 5.4% during the historic period. The fastest growth in the historic period can be attributed to demand by oil and gas companies to remove Sulphur during the oil refining process and to process crude oil into refined fuels.

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By End Use Industry - The industrial gas market is segmented by end use industry into

1.       Manufacturing

2.       Metallurgy

3.       Chemicals

4.       Healthcare

5.       Food & Beverages

6.       Others

The manufacturing market accounted for the largest share of the industrial gas market in 2018 at 26.7%.

By Geography - The industrial gas market is segmented into

1.       North America

2.       Western Europe

3.       Asia Pacific

4.       Eastern Europe

5.       South America

6.       Middle East

7.       Africa

Asia Pacific is the largest market for industrial gas, accounting for almost 39% of the global market. It was followed by North America, Western Europe and then the other regions. Going forward, the Middle East and Africa will be the fastest growing regions in this market.

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