Global Demand for Industrial, Medical and Specialty Gases to Reach $116 billion by 2020

Monday 27 Oct 2014

Industry Experts has today unveiled the new market research study on Industrial Gases. According to the new report titled 'Industrial, Medical and Specialty Gases – A Global Market Overview', Medical gases are the fastest growing among the three categories reported with a CAGR of 8.8% while Industrial Gases is the largest consumed estimated at US$49 billion in 2014.

The global economy has grown faster in 2014 than it did in the year 2013 and economic experts predict that the trend is expected to continue for at least in coming few years. Also, global industrial production indexes for 2014 and beyond reveal that the industrial production has been increasing across the globe and is expected to increase further. Industrial production has been showing positive sings across Europe and Japan and growing in the United States and China. Moreover, growth in the emerging economies will remain the most important driver of global economic trends over the coming years. The automotive industry is picking up in the US and also in large Asian countries, China and India. Steel production is growing in Asia region mostly contributed by China. Also, the chemical sector has recorded significant rates of growth in China and in the United States.

In addition to anticipated growth in the global economies, mostly driven by developing nations, demand from applications in energy, the environment, healthcare and electronics industries is expected to stimulate the global industrial, medical and specialty gases market growth in the long-term. Another important trend that drives growth for the industrial gases is globalization of the industry and resource constrains. As the industrial companies striving to compete on a global scale, they require to modernize their industrial production facilities. The modernization process is leading to an increase in outsourcing, mainly in developing nations such as China and India, and volume growth in industrial gases for industrial processes.

The report analyses, estimates and forecasts the global market for industrial, medical and specialty gases for global regions including North America, Europe, Asia-Pacific, South America and Rest of World; and for major product segments including Industrial gases (oxygen, nitrogen, hydrogen, carbon dioxide, argon, helium and acetylene), Medical gases (medical oxygen, medical air, nitrous oxide, carbon dioxide, nitrogen, helium and others) and Specialty gases (high purity air gases, rare gases, halogen gases, carbon gases and other specialty gases). Rest of World is further drilled down for Middle and Africa and the market split by key countries in these regions.

This 261 page global market report includes 106 charts (includes a data table and graphical representation for each chart), supported with meaningful and easy to understand graphical presentation, of market numbers. The statistical tables represent the data for the global market value in USD by geographic region, major country in each region, product type and by end-use application.

The study profiles 11 key global players and 71 major players in industrial, medical and specialty gases industry across North America – 8; Europe – 15, Asia-Pacific – 38, South America – 2 and Rest of World – 8. The report also provides the listing of the companies engaged in manufacturing and supply of industrial, medical and specialty gases. The global list of companies covers addresses, contact numbers and the website addresses of 229 companies.

Hyderabad, India based Industry Experts is a multi industry focused business information provider.

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