Market overview
The global industrial gases market is worth USD 110 bn in 2026 and is forecast to reach USD 188 bn by 2036, growing at a 5.5% CAGR. China is the largest country market and Oxygen is the largest by gas segment.
| Scope | Industrial gases sold to industry and healthcare: oxygen, nitrogen, argon, hydrogen, carbon dioxide, helium and specialty gases, supplied by pipeline, bulk liquid, cylinder and on-site plants. |
|---|---|
| Industry | Chemicals and Materials |
| Value 2025 | USD 105 bn |
| Value 2026 | USD 110 bn |
| Value 2036 | USD 188 bn |
| CAGR 2026-2036 | 5.5% |
| Volume 2026 | 1,559 million tonnes |
| Volume 2036 | 2,411 million tonnes |
| Average price 2026 | USD 70.7 per tonne |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Industrial Gases market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 110 bn |
| 2027 | USD 116 bn |
| 2028 | USD 123 bn |
| 2029 | USD 129 bn |
| 2030 | USD 137 bn |
| 2031 | USD 144 bn |
| 2032 | USD 152 bn |
| 2033 | USD 160 bn |
| 2034 | USD 169 bn |
| 2035 | USD 179 bn |
| 2036 | USD 188 bn |
Industrial Gases market segmentation
By gas
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Oxygen | 28.0% | 26.6% | USD 30.9 bn | 5.0% |
| Nitrogen | 22.0% | 20.9% | USD 24.3 bn | 5.0% |
| Hydrogen | 15.0% | 15.7% | USD 16.5 bn | 6.0% |
| Carbon dioxide | 8.0% | 7.6% | USD 8.8 bn | 5.0% |
| Argon | 8.0% | 7.6% | USD 8.8 bn | 5.0% |
| Helium and rare gases | 6.0% | 5.2% | USD 6.6 bn | 4.0% |
| Specialty and electronic gases | 13.0% | 16.4% | USD 14.3 bn | 8.0% |
By supply mode
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| On-site and pipeline | 45.0% | 47.9% | USD 49.6 bn | 6.2% |
| Bulk liquid | 30.0% | 29.0% | USD 33.1 bn | 5.2% |
| Packaged cylinders | 25.0% | 23.1% | USD 27.6 bn | 4.7% |
By end use
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Chemicals and energy | 28.0% | 29.1% | USD 30.9 bn | 5.9% |
| Metals and manufacturing | 25.0% | 22.5% | USD 27.6 bn | 4.4% |
| Healthcare | 12.0% | 11.9% | USD 13.2 bn | 5.4% |
| Electronics | 12.0% | 15.7% | USD 13.2 bn | 8.4% |
| Food and beverage | 10.0% | 9.0% | USD 11.0 bn | 4.4% |
| Other uses | 13.0% | 11.7% | USD 14.3 bn | 4.4% |
By production technology
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Cryogenic distillation | 62.0% | 58.0% | USD 68.4 bn | 4.8% |
| Non-cryogenic (PSA and VPSA) | 18.0% | 20.0% | USD 19.8 bn | 6.6% |
| Electrolysis and reforming | 12.0% | 14.0% | USD 13.2 bn | 7.1% |
| Membrane | 8.0% | 8.0% | USD 8.8 bn | 5.5% |
By customer size
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Large tonnage users | 34.0% | 32.0% | USD 37.5 bn | 4.9% |
| Mid-size users | 36.0% | 36.0% | USD 39.7 bn | 5.5% |
| Small users | 30.0% | 32.0% | USD 33.1 bn | 6.2% |
Top 25 countries for industrial gases by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 75.5% of 2026 revenue and the 25 countries below together hold 94.0%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | China | USD 29.8 bn | 27.0% | USD 58.9 bn | 7.1% |
| 2 | United States | USD 22.1 bn | 20.0% | USD 33.0 bn | 4.1% |
| 3 | Germany | USD 5.5 bn | 5.0% | USD 7.5 bn | 3.2% |
| 4 | Japan | USD 5.5 bn | 5.0% | USD 7.5 bn | 3.2% |
| 5 | India | USD 4.4 bn | 4.0% | USD 10.5 bn | 9.1% |
| 6 | South Korea | USD 3.9 bn | 3.5% | USD 6.0 bn | 4.6% |
| 7 | France | USD 3.3 bn | 3.0% | USD 4.5 bn | 3.2% |
| 8 | Brazil | USD 3.3 bn | 3.0% | USD 5.3 bn | 4.8% |
| 9 | Italy | USD 2.8 bn | 2.5% | USD 3.8 bn | 3.2% |
| 10 | Taiwan | USD 2.8 bn | 2.5% | USD 4.9 bn | 5.9% |
| 11 | Mexico | USD 2.7 bn | 2.4% | USD 5.9 bn | 8.3% |
| 12 | Canada | USD 2.3 bn | 2.1% | USD 3.6 bn | 4.4% |
| 13 | Australia | USD 1.9 bn | 1.7% | USD 3.1 bn | 4.9% |
| 14 | Spain | USD 1.6 bn | 1.5% | USD 2.5 bn | 4.4% |
| 15 | Netherlands | USD 1.5 bn | 1.3% | USD 2.3 bn | 4.4% |
| 16 | Belgium | USD 1.3 bn | 1.2% | USD 2.0 bn | 4.1% |
| 17 | Russia | USD 1.2 bn | 1.1% | USD 1.8 bn | 4.1% |
| 18 | Thailand | USD 1.2 bn | 1.1% | USD 2.0 bn | 5.5% |
| 19 | Malaysia | USD 1.1 bn | 1.0% | USD 1.9 bn | 5.7% |
| 20 | Saudi Arabia | USD 1.0 bn | 0.9% | USD 1.9 bn | 6.2% |
| 21 | Turkey | USD 981 mn | 0.9% | USD 1.7 bn | 5.4% |
| 22 | Poland | USD 937 mn | 0.8% | USD 1.6 bn | 5.5% |
| 23 | Indonesia | USD 904 mn | 0.8% | USD 1.7 bn | 6.4% |
| 24 | Singapore | USD 871 mn | 0.8% | USD 1.5 bn | 5.2% |
| 25 | Argentina | USD 838 mn | 0.8% | USD 1.4 bn | 5.4% |
| Rest of world | USD 6.6 bn | 6.0% | USD 11.6 bn | 5.7% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Linde
- Air Liquide
- Air Products
- Messer
- Nippon Sanso Holdings
Group 2: Regional and specialist players
- Yingde Gases
- SOL Group
- Iwatani
- Air Water
- Matheson Tri-Gas
- SIAD
- Sapio Group
- Westfalen
- Universal Industrial Gases
- Ellenbarrie Industrial Gases
Group 3: Emerging and niche players
- Gulf Cryo
- Hangyang
- Goyal MG Gases
- Nexair
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the industrial gases market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 5.5% is calculated from the resulting values.
The market is divided by gas, by supply mode, by end use, by production technology, by customer size. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the industrial gases market?
The global industrial gases market is estimated at USD 105 bn in 2025 and USD 110 bn in 2026.
How fast will the industrial gases market grow?
It is forecast to reach USD 188 bn by 2036, a compound annual growth rate of 5.5% from 2026, an increase of USD 78.1 bn.
Which country is the largest market for industrial gases?
China is the largest market by revenue at USD 29.8 bn in 2026, 27.0% of the global total. The three largest countries together hold 52.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 9.1% a year from 2026 to 2036.
Which industrial gases segment is largest?
In the by gas split, Oxygen is the largest segment with 28.0% of 2026 revenue.
Who are the leading industrial gases companies?
Global leaders include Linde, Air Liquide, Air Products, Messer.
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