Cryogenic Gas Market worth US$ 37,9 Billion 2029 with a CAGR of 7.5 %

Published Date: April 2023

Cryogenic gas market is projected to grow from US$ 19.7 billion in 2020 to US$ 37.9 billion by 2029. Global cryogenic gas market is driven by growing demand for industrial & specialty gases in oil & gas sector. Additionally, ongoing investments for modernization and refurbishment of existing healthcare infrastructure and rising number of projects of gas to liquids are expected to propel revenue growth of the target market. Factors such as innovative cryogenic applications, and adoption of standards for environment protection, are also expected to fuel growth of the global cryogenic gas market over the forecast period. Moreover, Implementation of high-temperature superconductor (HTS) and HDVC cables owner cables is another major factor that promotes growth of the global market. Nevertheless, technological advancements in developing as well as developed nations are major factors expected create opportunities for growth of the global cryogenic gas market.

The report "Global Cryogenic Gas Market, By Product (Atmospheric Gases, Hydrogen, Acetylene, Helium, and Others), By Application (Metal Fabrication, Chemical, Healthcare & Medical, Oil & Gas, and Others), and Region - Global Forecast to 2029"

Key Highlights:

  • On April 2019, Air Liquide and Chengdu Huaqi Houpu Holding co., Ltd. finalized the creation of a joint venture for the production, development, and distribution of hydrogen refilling stations for fuel cell electric vehicles.
  • In 2016, Linde AG has announced to continue its longstanding relationship with Celanese in Singapore. Linde Gas Singapore will continue to supply carbon monoxide to Celanese’s operations on Jurong Island for the production of acetic acid.

Key Market Insights from the report:          

The global cryogenic gas market accounted for US$ 19.7 billion in 2020 and is projected to register a moderate CAGR of 7.5 % over the forecast period. The market report has been segmented on the basis of application, end-user, and region.

  • By product, the global cryogenic gas market is segmented into atmospheric gases, hydrogen, acetylene, helium, and others.
  • By application, the global cryogenic gas market is bifurcated into metal fabrication, chemical, healthcare & medical, oil & gas, and others.
  • By region, Asia Pacific accounts for the fastest-growing market, owing to investments in energy sector coupled with increasing demand for LNG from emerging countries such as China, India, and Australia in the region. In addition, growth in applications such as Metal fabrication, chemical, healthcare, along with introduction of GHG emission reduction targets, are some of the factors expected to drive growth of the target market over the forecast period. The global cryogenic gas market in North America is expected to grow at a significant growth rate, owing to increasing applications healthcare & medical sector, along with increasing environmental concerns in the region.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Cryogenic gas  Market”, By Product (Atmospheric Gases, Hydrogen, Acetylene, Helium, and Others), By Application (Metal Fabrication, Chemical, Healthcare & Medical, Oil & Gas, and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029

The prominent player operating in the global cryogenic gas market includes Linde AG, Air Liquide International S.A, Praxair, Inc., Air Products And Chemicals, Inc., Iwatani Corporation, Itron, Inc., Colfax Corporation, Messer Group GmbH, Matheson Tri-Gas, Inc., and GCE Holding AB.

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