Albany, NY -- (SBWIRE) -- 05/20/2014 -- Industrial Gases Market growth in associated industries such as transportation, food and beverages, metal fabrication and chemical manufacturing are some of the drivers for the global industrial gases market. Rapid industrialization in emerging Asian economies such as India and China will serve the market as future growth opportunities.
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Hydrogen dominated the market in 2011 in terms of market share and is also expected to be the fastest growing segment over the next five years at an estimated CAGR of 6% from 2012 to 2018. Global demand for Nitrogen and Oxygen is expected to reach USD 6.2 billion and USD 6.1 billion by 2018 respectively.
In 2011, Asia Pacific led the market in terms of demand due to increasing domestic consumption in India, China and South Korea. The Asia Pacific industrial gases market is expected to grow at a CAGR of over 7% from 2012 to 2018, which is the fastest across all regional markets.
Air Liquide held majority of market share at over 24% in 2011 on account of its wide product portfolio covering all the industrial gas segments and revenue generation from the emerging Asian and Eastern European countries. Air Liquide was followed by Linde Gas in terms of market share in 2011. Other key market players dominating the global industrial gases market include Matheson tri-Gas Inc., Air Products and Chemicals Inc., Praxair Inc., Air Gas Inc., and others.
Rise in population and industrialization in BRICS nation will drive the major growth of the industrial gases market. Growth in associated industries such as transportation, food and beverages, metal fabrication and chemical manufacturing are some of the other drivers for the global industrial gases market. However, high costs of transportation and storage of industrial gases is expected to be a key challenge for market participants.
The report analyzes the industrial gases market in terms of market size, market share, and competitive analysis and also estimates the market in terms of revenue (USD million) for the period 2012 - 2018, deeming 2011 as the base year. The global industrial gases market is segmented into two major sub segments on the basis of products and geography. This market primarily includes nitrogen, oxygen, hydrogen, and carbon dioxide, argon, helium and acetylene.
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW) regions. In-depth analysis of various geographical factors affecting market dynamics are explained in the report. The report provides competitive analysis of the market which includes market shares of major players in 2011.
Furthermore, company profiles for some of the key players namely Air Liquide, Linde Group, Praxair Inc. and Air Products and Chemicals Inc., in terms of company overview, financial overview, business strategies, product portfolio and recent developments is available in the report.
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