Industrial Gas Market to Hit USD 171 Billion by 2035, Driven by Semiconductor Boom Across APAC, Europe, USA & KSA
Industrial Gas Market Demand
The industrial gas market is projected to grow from USD 80.7 billion in 2025 to USD 171.0 billion by 2035, at a CAGR of 7.8%.
QINGDAO, ZIBO, YANTAI, SHANDONG PROVINCE, CHINA, November 7, 2025 /EINPresswire.com/ -- The global industrial gas market is poised for robust expansion, projected to grow from USD 80.7 billion in 2025 to USD 171.0 billion by 2035, reflecting a 108% total increase and a compound annual growth rate (CAGR) of 7.8%. This growth trajectory underscores the critical role of industrial gases in enabling next-generation manufacturing, decarbonization technologies, and healthcare advancements across Asia Pacific (APAC), Europe, the USA, and Saudi Arabia.
Global Growth Overview
Industrial gases — including oxygen, nitrogen, hydrogen, carbon dioxide, argon, and specialty gases — are fundamental to modern industry, serving applications in manufacturing, electronics, metallurgy, chemicals, food processing, and healthcare. The market is expected to expand 2.1X by 2035, supported by the surge in semiconductor fabrication, hydrogen economy investments, and healthcare infrastructure upgrades.
Between 2025 and 2030, the market is set to rise from USD 80.7 billion to USD 118 billion, accounting for 42.6% of the decade’s total expansion. The subsequent period from 2030 to 2035 will see an even larger increment of USD 50.1 billion, driven by green hydrogen development, carbon capture projects, and electric vehicle (EV) battery manufacturing.
“Industrial gases are the lifeblood of energy transition and digital manufacturing,” says an industry analyst. “Their purity, availability, and reliability are the new benchmarks for sustainability and technological competitiveness.”
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Regional Market Highlights
APAC Leads Global Growth — India and China Dominate
The Asia Pacific (APAC) region remains the growth powerhouse, projected to account for the largest market share through 2035.
- India emerges as the fastest-growing country with a CAGR of 9.8%, fueled by semiconductor fabrication, refinery expansion, and steel sector modernization under the government’s Make in India initiative.
- China, growing at 8.1% CAGR, continues its transition toward green hydrogen adoption, natural gas expansion, and EV battery production.
- Japan and South Korea contribute with 3.9% and 5.6% CAGR, respectively, emphasizing semiconductor miniaturization, battery materials, and medical gas demand.
Collectively, APAC’s rise is underpinned by the hydrogen economy, clean manufacturing, and electronics supply chain leadership, reinforcing the region’s dominance in the global industrial gas landscape.
Europe: Driving Industrial Decarbonization
The European industrial gas market is forecast to grow from USD 19.4 billion in 2025 to USD 40.3 billion by 2035 at a 7.8% CAGR, powered by hydrogen integration and carbon capture utilization.
- Germany leads with a 26% share in 2025, driven by decarbonized steel and chemical process retrofits.
- France (19%) sees growth from pharmaceutical and hydrogen mobility initiatives.
- The UK (17.5%), Italy (12.5%), and Spain (9%) follow, benefiting from data center, glass, and food processing gas applications.
European manufacturers are prioritizing sustainable production, with industrial gas suppliers expanding renewable-powered air separation units and hydrogen blending systems to align with EU Green Deal goals.
USA: Modernization, Hydrogen Hubs, and Data Center Demand
The U.S. industrial gas market is projected to expand at a 5.2% CAGR, supported by investments in hydrogen hubs, data center infrastructure, and refinery modernization.
Growing digital infrastructure drives nitrogen demand for data center fire protection and cooling.
The Gulf Coast is emerging as a clean hydrogen corridor, attracting multibillion-dollar projects for low-carbon hydrogen and ammonia production.
Leading companies like Linde, Air Products, and Air Liquide are investing in blue hydrogen plants, pipeline modernization, and on-site gas generation, strengthening North America’s leadership in industrial gas reliability and sustainability.
Saudi Arabia: Hydrogen Leadership and Industrial Transformation
In the Middle East, particularly Saudi Arabia, the industrial gas sector is rapidly advancing as the Kingdom pursues Vision 2030 goals to diversify its economy and lead the global hydrogen transition.
Investments in NEOM’s green hydrogen megaprojects and industrial clusters are generating substantial demand for oxygen, nitrogen, and hydrogen.
Strategic partnerships with global players such as Air Products and Linde are reinforcing the Kingdom’s ambition to become a hydrogen export hub.
Saudi Arabia’s focus on sustainable industrial zones, petrochemical modernization, and carbon-neutral steel positions it as a pivotal market in the industrial gas value chain.
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Competitive Landscape
The market is moderately consolidated, with major global players including:
- Linde plc – commanding 26.5% market share, emphasizing clean hydrogen and on-site systems.
- Air Liquide – advancing sustainable production and European decarbonization projects.
- Air Products and Chemicals – leading hydrogen economy infrastructure development.
- Nippon Sanso Holdings, Messer Group, and Yingde Gases Group – expanding across APAC with localized production networks.
These firms are investing in digital supply chains, renewable-powered operations, and carbon capture integration to sustain competitive advantages in the low-carbon industrial ecosystem.
Key Growth Drivers
- Semiconductor Manufacturing: Rising chip production is boosting demand for ultra-pure gases in etching, deposition, and packaging.
- Hydrogen Economy: Clean hydrogen adoption is transforming steelmaking, refining, and mobility sectors.
- Healthcare Expansion: Medical oxygen and nitrogen demand are accelerating with hospital and pharma capacity growth.
- Sustainability and Decarbonization: Carbon capture, oxy-combustion, and green hydrogen are central to industrial emission reduction goals.
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