North America Industrial Gases Market Size, Share, Analysis: By Type: Nitrogen, Oxygen, Carbon Dioxide, Argon, Hydrogen, Others; By Application: Manufacturing, Metallurgy, Energy, Healthcare, Chemicals, Others; By Supply Mode: Packaged, Bulk, On-Site; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

North America Industrial Gases Market Size

The North America industrial gases market reached USD 25.35 billion in 2023. The market is expected to grow at a CAGR of 6.50% between 2024 and 2032, reaching almost USD 46.34 billion by 2032.

North America Industrial Gases Market Outlook

• According to the US EPA, steel manufacturing accounts for 65% of domestic oxygen consumption in the USA followed by other sectors.

• As per the US Energy Department, 6 billion dollars had been invested to build the first clean hydrogen hub in the USA.

• The United States accounts for about 15% of the food sector value added as of 2022, as per USDA.

North America Industrial Gases Market Growth

With the rapid growth in the number of companies in the electronics, packaging, and beverages markets, industrial gases find their application quite well in the industry, their application varies from packaging to acting as a medium for combustion in the steel industry. The necessity for gases like hydrogen, oxygen, etc., in the industry for manufacturing and other industrial processes augments the North America industrial gases market growth.

In the agricultural sector, North America accounts for about 4.6 million square kilometres of land area, and fertilizer is one such key element that plays an important role in this sector, manufactured using hydrogen gas, thus generating demand for the North America industrial gases market.

Regulations in North America, such as the United States-Mexico-Canada Agreement which aims to reduce tariffs for exporting and importing gases across these three regions allow companies to have better price positioning in the market.

FOOD AND BEVERAGE MANUFACTURING DATA, 2021

Key Trends and Developments

Technological innovations and advancements, hydrogen economy, disinfecting agents, and medical applications are fueling the North America industrial gases market development.

April 2024

Air Liquide expanded its capability in biomethane production by opening an additional 2 production facilities across the USA in Pennsylvania and Michigan.

March 2024

Messer successfully placed 1.1 billion USD senior notes with institutional investors to refinance USD denominated bridge facility.

February 2024

Linde had signed an agreement to purchase 320 gigawatts of hours of renewable energy per year to fulfil its climate neutrality ambitions.

September 2023

Mercedes Benz GenH2 trucks created a record to complete the 1047 Km mark between Woerth am Rhein and Berlin with one fill of liquid Hydrogen.

Technological innovations and advancements

Application of manufacturing processes, such as plasma cleaning, have been introduced where gases like oxygen and argon are used as plasma to remove contaminants from the surface.

Hydrogen Economy

With a focus on reducing fossil fuel consumption, technological innovations are on their way to use hydrogen as a fuel to power fuel cells and internal combustion engines.

Disinfecting agent

Gases like ozone and ethylene oxide are being used as disinfectants to sterilize equipment due to their chemically inert nature with a wide range of materials.

Medical Gases

Demand for gases like oxygen has seen a surge as many lifesaving therapies involve using these gases. Oxygen acts as a basis for modern anaesthetic techniques.

North America Industrial Gases Market Trends

There is a strong demand for industrial gases due to their applications across different industries. With increasing industrialisation, the demand for these gases is also increasing as they act as an environment for certain chemical reactions. Furthermore, industrial gases are commonly utilised in various industries as a sterilizing agent due to their disinfectant properties.

In North America, the industrial gas market is driven by sustainability and the need for impurity-free manufacturing processes.

North America Industrial Gases Market Segmentation

North America Industrial Gases Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Segmentation by Type

• Nitrogen

• Oxygen

• Carbon Dioxide

• Argon

• Hydrogen

• Others

Market Segmentation by Application

• Manufacturing

• Metallurgy

• Energy

• Healthcare

• Chemicals

• Others

Market Segmentation by Supply Mode

• Packaged

• Bulk

• On-Site

Market Segmentation by Country

• United States

• Canada

North America Industrial Gases Market Share

The increasing application of gases in the manufacturing industry, from packaging food to welding small component gases like nitrogen, oxygen, and others boosts the North America industrial gases market growth.

Oxygen plays a crucial role when an industrial process involves combustion, mostly used by steel manufacturing plants to enhance the productivity of the furnace.

Nitrogen acts as a packaging gas due to its inert nature it prevents rancidity and is widely used by the food packaging industry to keep food fresh. With changing lifestyles, and increased intake of carbonated beverages, carbon dioxide finds its application in wine, beer, and soda beverages. It acts as an antimicrobial and decaffeination agent.

The healthcare sector is driving growth in the North America industrial gases market, specific gases are used in life-saving therapies and even as agents to produce certain chemicals in the industry.

Rapid shift towards sustainability pushing the government to further cut down emissions, as of now hydrogen is the best alternative available in the market. The rising need for sustainable fuel will lead to an energy shift in the market further giving thrust to the growth of the industrial gas market in North America.

With changes and innovations happening across the industrial gas industry, there is a rapid change in the distribution method of the North America industrial gases market.

The food industry uses the packaged supply mode to prevent the growth of microbial, mold, and oxidation. Large-scale industries, such as steel plants, require gases in significant volumes, which creates a high demand for these gases in the market.

Onsite production plays a critical role in generating gases for commercial use in some key industries where purity is a crucial factor. All these factors contribute to the North America industrial gases market growth.

Leading Companies in North America Industrial Gases Market

Market players are driving North America industrial gases market growth by offering air-conditioning devices at competitive pricing and offering additional health benefits to their consumers.

Linde plc., a leading chemical manufacturing company founded in 1879, was founded in Germany and has its headquarters in the United Kingdom.

L’AIR LIQUIDE S.A. was established in 1902 as a French MNC that supplies industrial gases for various industries including medical, chemical, and electronic manufacturers.

Air Products and Chemicals, Inc., is an American multinational formed in 1940. Offering a diverse portfolio from generalized gases to on-demand specialized gases

Messer North America, Inc., a German multinational, headquartered in Bad Soden, Germany, has operations in 30 European and Asian countries.

Other North America industrial gases market key players are Matheson Tri-Gas among others.

North America Industrial Gases Market Analysis by Region

With recent advancements in advanced manufacturing processes, healthcare, and the pharmaceutical industry there is a strong demand for industrial gases across North America specifically in the USA and Canada as most manufacturing plants are concentrated in these regions.

USA is aiming to reduce its Green House Gas (GHG) emissions by 50-52% below levels by 2030, Hydrogen will play a pivotal role in reducing overall emissions. With strong policies and investment by the government particularly in the USA and Canada region for green hydrogen production there will be huge demand for industrial gas in North America in the upcoming year. This dynamic ecosystem encourages ongoing innovation and competition. The region's focus on sustainability and a growing number of industries in this region are augmenting the strong North America industrial gases market share.

Key Highlights of the Report

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.