Industrial Gas Industry Overview
Analyses of global market trends with data from 2011 and 2012 and projections of compound annual growth rates cagrs through 2017.
Industrial gas industry overview. The industrial gas industry is estimated to rise at a cagr of 7 8 percent globally until 2022. May 8 2020 at 3 49 a m. Press release industrial gas market size industry analysis and forecast 2019 2026 published.
From weakening economic growth and intensifying trade tensions to global political risks our 2020 oil and gas industry outlook takes stock of the main factors to watch in 2020. The tremendous growth in the market for industrial gas is mainly due to the revival of large economies such as the u s. The global industrial gases market size was valued at usd 87 3 billion in 2019 and is expected to grow at a compound annual growth rate cagr of 5 5 from 2020 to 2027.
Global industrial gases market size is forecast to grow by usd 35 37 billion during 2019 2023 at a cagr of 7 with manufacturing segment having the largest market share. Industrial gas market overview. Moreover increasing urbanization and industrialization coupled increasing application of industrial gases in various industries such as healthcare metals and mining and food and beverage are further expected to influence.
The innovations in storage design and packaging will also impact industrial gases industry growth. An overview of the industrial gas business which includes data on supply of and demand for industrial gases by type technology and application in current u s. Additionally the profit margins have risen due to cheaper energy prices and lower.
The marketwatch news department was not involved in the creation of this content. Jun 25 2020 americanewshour industrial gases are the type of gaseous materials produced in large quantities. Industrial gas market growth trends and forecast 2020 2025 the market is segmented by product type atmospheric gases noble gases elemental gases liquefied gases compound gases hydrocarbon gases and other product types end user industry oil and gas energy and power petrochemical and chemical manufacturing medical and pharmaceutical food and beverage mining transportation.
Industrial gases are the gaseous materials that are manufactured for use in industry the principal gases provided are nitrogen oxygen carbon dioxide argon hydrogen helium and acetylene although many other gases and mixtures are also available in gas cylinders the industry producing these gases is also known as industrial gas which is seen as also encompassing the supply of equipment and. This market research report presents exclusive facts and figures about how the industrial gases market is anticipated to will grow over the forecast period of 2019 2029. Dollars for the major global regions.