Oxygen Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Oxygen Market Report is Segmented by Form (Gas, Liquid, and Solid), Type (Medical and Industrial), Application (Metals and Mining, Chemical Industry, Oil and Gas, Healthcare, Pharmaceutical, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Size and Forecasts are Provided in Volume (Kilotons) for all the Above Segments.

Oxygen Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Oxygen Market Size

Oxygen Market Summary
Study Period 2019 - 2030
Market Volume (2025) 562.81 Million tons
Market Volume (2030) 704.39 Million tons
CAGR 4.59 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Oxygen Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Oxygen Market Analysis

The Oxygen Market size is estimated at 562.81 million tons in 2025, and is expected to reach 704.39 million tons by 2030, at a CAGR of 4.59% during the forecast period (2025-2030).

  • The increasing demand for oxygen in the medical and healthcare sector and the growing demand for oxygen in the metals and mining industry are the major factors driving the demand for the market studied.
  • After the COVID-19 pandemic, oxygen production increased in various countries to meet the rising demand from hospitals. The demand is likely to remain strong in the medical industry and other sectors.
  • However, high costs for manufacturing oxygen and the availability of other fuel gases used for welding and cutting applications are expected to hinder the market's growth.
  • Nevertheless, the growing usage of oxygen for portable oxygen concentrators, which are becoming increasingly affordable and user-friendly, and technological advancements in oxygen generation are expected to create more opportunities for the market.
  • Asia-Pacific is expected to dominate the market and witness the highest growth during the forecast period.

Oxygen Industry Overview

The oxygen market is partially fragmented in nature. The major players (not in any particular order) include Air Products and Chemicals Inc., Linde PLC, Air Liquide, Yingde Gases Group, and Messer North America Inc.

Oxygen Market Leaders

  1. Linde plc

  2. Air Liquide

  3. Yingde Gases Group

  4. Messer North America Inc

  5. Air Products and Chemicals, Inc.

  6. *Disclaimer: Major Players sorted in no particular order
Oxygen Market Concentration
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Oxygen Market News

  • July 2024: Air Liquide India inaugurated a new manufacturing facility in Mathura, Uttar Pradesh, with an investment of INR 3500 million (approximately USD 41.79 million). This air separation unit is designed to bolster healthcare and industrial operations in Kosi, Mathura. With a production capacity exceeding 300 tonnes daily, the unit generates both liquid and medical oxygen.
  • August 2023: Two oxygen generator plants were inaugurated in Bhutan, aiming to strengthen the country's health systems and improve emergency preparedness and response capabilities. These Pressure Swing Adsorption (PSA) plants have been established at Jigme Dorji Wangchuk National Referral Hospital and Mongar Regional Referral Hospital. Given their capacity to produce and refill 100 medical oxygen cylinders daily, the inauguration is expected to contribute to the growth of the oxygen market during the forecast period.
  • March 2023: Air Liquide announced a EUR 60 million (USD 67.8 million) investment for the refurbishment of two air separation units (ASUs) located in the Tianjin industrial basin in China. These electrified ASUs are designed to produce oxygen and other air gases, providing a total oxygen production capacity of approximately 4,000 tons per day to supply YLC and other industrial customers in the Tianjin basin.
  • December 2022: Atlas Copco completed the acquisition of Shandong Meditech Medical Technology Co. Ltd, a China-based manufacturer specializing in onsite oxygen solutions for the healthcare sector.

Oxygen Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Drivers
    • 4.1.1 Increasing Demand for Oxygen in the Medical and Healthcare Sectors
    • 4.1.2 Growing Demand for Oxygen in the Metals and Mining Industry
    • 4.1.3 Other Drivers
  • 4.2 Market Restraints
    • 4.2.1 High Costs for Manufacturing Oxygen
    • 4.2.2 Availability of Other Fuel Gases Used for Welding and Cutting Applications
    • 4.2.3 Other Restraints
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Buyers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION (Market Size in Volume)

  • 5.1 By Form
    • 5.1.1 Gas
    • 5.1.2 Liquid
    • 5.1.3 Solid
  • 5.2 By Type
    • 5.2.1 Medical
    • 5.2.2 Industrial
    • 5.2.3 Other Types (Scientific and Electronic)
  • 5.3 By Application
    • 5.3.1 Metals and Mining
    • 5.3.2 Chemical Industry
    • 5.3.3 Oil and Gas
    • 5.3.4 Healthcare
    • 5.3.5 Pharmaceutical
    • 5.3.6 Other Applications (Automotive and Aerospace, Energy, and Cosmetics)
  • 5.4 By Geography
    • 5.4.1 Asia-Pacific
    • 5.4.1.1 China
    • 5.4.1.2 India
    • 5.4.1.3 Japan
    • 5.4.1.4 South Korea
    • 5.4.1.5 Malaysia
    • 5.4.1.6 Thailand
    • 5.4.1.7 Indonesia
    • 5.4.1.8 Vietnam
    • 5.4.1.9 Rest of Asia-Pacific
    • 5.4.2 North America
    • 5.4.2.1 United States
    • 5.4.2.2 Canada
    • 5.4.2.3 Mexico
    • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 France
    • 5.4.3.4 Italy
    • 5.4.3.5 Spain
    • 5.4.3.6 NORDIC Countries
    • 5.4.3.7 Turkey
    • 5.4.3.8 Russia
    • 5.4.3.9 Rest of Europe
    • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Colombia
    • 5.4.4.4 Rest of South America
    • 5.4.5 Middle East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 Qatar
    • 5.4.5.3 United Arab Emirates
    • 5.4.5.4 Nigeria
    • 5.4.5.5 Egypt
    • 5.4.5.6 South Africa
    • 5.4.5.7 Rest of Middle East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share (%)**/Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 Air Liquide
    • 6.4.2 Air Products and Chemicals Inc.
    • 6.4.3 Bhuruka Gases Limited
    • 6.4.4 Daesung Group
    • 6.4.5 Gulf Cryo
    • 6.4.6 Koatsu Gas Kogyo Co. Ltd
    • 6.4.7 Linde PLC
    • 6.4.8 Matheson Tri-Gas Inc.
    • 6.4.9 Messer North America Inc.
    • 6.4.10 Nippon Gases
    • 6.4.11 NOX-Air Products Inc.
    • 6.4.12 SOL SpA
    • 6.4.13 Steelman Gases Pvt. Ltd
    • 6.4.14 Taiyo Nippon Sanso Corporation
    • 6.4.15 Yingde Gases Group
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Growing Demand for Portable Oxygen Concentrators
  • 7.2 Technological Advancements in Oxygen Generation
**Subject to Availability
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Oxygen Industry Segmentation

Oxygen is critical for human life. In addition to being required for human sustenance, oxygen is used for a variety of industrial and medical applications. For instance, combined with fuel gases or with argon (Ar) and carbon dioxide (CO₂), oxygen is also used for metal cutting, welding, scarfing, hardening, cleaning, and melting applications.

The oxygen market is segmented by form, type, application, and geography. By form, the market is segmented into gas, liquid, and solid. By type, the market is segmented into medical, industrial, and other types. By application, the market is segmented into metals and mining, chemical industry, oil and gas, healthcare, pharmaceuticals, and other applications. The report also covers the market size and forecasts for the oxygen market in 27 countries across major regions. For each segment, the market sizing and forecasts are provided on the basis of volume (kilotons).

By Form Gas
Liquid
Solid
By Type Medical
Industrial
Other Types (Scientific and Electronic)
By Application Metals and Mining
Chemical Industry
Oil and Gas
Healthcare
Pharmaceutical
Other Applications (Automotive and Aerospace, Energy, and Cosmetics)
By Geography Asia-Pacific China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Spain
NORDIC Countries
Turkey
Russia
Rest of Europe
South America Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa Saudi Arabia
Qatar
United Arab Emirates
Nigeria
Egypt
South Africa
Rest of Middle East and Africa
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Oxygen Market Research FAQs

How big is the Oxygen Market?

The Oxygen Market size is expected to reach 562.81 million tons in 2025 and grow at a CAGR of 4.59% to reach 704.39 million tons by 2030.

What is the current Oxygen Market size?

In 2025, the Oxygen Market size is expected to reach 562.81 million tons.

Who are the key players in Oxygen Market?

Linde plc, Air Liquide, Yingde Gases Group, Messer North America Inc and Air Products and Chemicals, Inc. are the major companies operating in the Oxygen Market.

Which is the fastest growing region in Oxygen Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Oxygen Market?

In 2025, the Asia-Pacific accounts for the largest market share in Oxygen Market.

What years does this Oxygen Market cover, and what was the market size in 2024?

In 2024, the Oxygen Market size was estimated at 536.98 million tons. The report covers the Oxygen Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Oxygen Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Oxygen Industry Report

The industrial and medical oxygen markets are experiencing robust growth, driven by the increasing demand for oxygen in chemical processes, advancements in production technologies, and its essential role in cleaner energy and hydrogen production. The surge in respiratory issues and the critical importance of oxygen in healthcare underscore the growth in the medical segment. Meanwhile, the global oxygen industry, including both sectors, benefits from the rising prevalence of respiratory diseases, environmental pollution, and innovative delivery solutions. The Asia-Pacific region, led by China and India, is at the forefront due to rapid industrialization and the expansion of healthcare facilities. Trends like IoT-enabled medical oxygen plants and a shift towards portable oxygen concentrators are shaping the market. Despite challenges like safety concerns and high production costs, the widespread demand for oxygen in industries such as healthcare, metallurgy, and energy is poised to propel market growth. For detailed market insights and forecasts, Mordor Intelligence™ Industry Reports offer a comprehensive analysis of the oxygen industry, including a market forecast outlook and a historical overview, available as a free report PDF download.