United States Industrial Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers United States Industrial Gas Market Manufacturers and is Segmented by Product Type (Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Helium, Argon, Ammonia, Methane, Propane, Butane, and Other Product Types) and End-User Industry (Chemical Processing and Refining, Electronics, Food and Beverage, Oil and Gas, Metal Manufacturing and Fabrication, Medical and Pharmaceutical, Automotive and Transportation, Energy and Power, and Other End-User Industries). The Market Size and Forecasts for The Industrial Gas Market are Provided in terms of Volume (Kilotons) for all the Above Segments.

United States Industrial Gas Market Size

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US Industrial Gas Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.79 %
Market Concentration High

Major Players

US Industrial Gas Market

*Disclaimer: Major Players sorted in no particular order


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United States Industrial Gas Market Analysis

The United States Industrial Gas Market size is expected to grow from 363.72 million tons in 2023 to 438.07 million tons by 2028, at a CAGR of 3.79% during the forecast period (2023-2028).

The market was negatively impacted by the COVID-19 pandemic in the region, including decreased demand and productivity, supply chain disruptions, and regional lockdowns. However, the market showed significant growth in 2021 and continued to grow in 2022.

  • The resilient demand from the healthcare industry and growing prominence for specialty gases have been driving the market growth.
  • However, the environmental regulations and safety issues and the outbreak of COVID-19 disease across the globe are likely to hinder the growth of the studied market.
  • Ramping up of Chemical and Petrochemical Industries in Gulf Coast and Texas is likely to provide opportunities for the United States industrial gas market over the next five years.
  • The atmospheric gas segment is the most dominating gas type segment for the market studied.

United States Industrial Gas Market Trends

Resilient Demand from the Healthcare Industry

  • Medical-grade industrial gases are used in the production of pharmaceutical medicines. The growth in the advancement of technology in the healthcare industry gives rise to the demand for the production of industrial gases.
  • In the medical industry, bulk oxygen is often required to minimize the risk of excess oxygen in the lungs or body tissue during surgeries and to provide artificial ventilation. Nitrogen is utilized in pre-flight lung diagnosis to calculate a person's ability to respond to a simulated aircraft cabin environment. Carbon dioxide can be used at the time of insufflation and can be infused with oxygen for stimulation of the respiratory simulation.
  • The novel coronavirus (COVID-19) made the need for medical gases even more acute in recent times. More than one million patients were treated with medical gases, such as oxygen, every day under prescription from a health care provider. Medical gases are administered in the emergency medical setting, the hospital setting, the outpatient setting, and in the home.
  • North America has the world's largest medical device industry, with the United States leading the way. Currently, the United States is the largest medical device industry in the world. According to SelectUSA, a program by The International Trade Administration (ITA), US Department of Commerce, the medical devices market in the country is the largest medical devices market in the world, which is valued at USD 156 billion and is estimated to reach USD 208 billion by 2023. All these growth depicting factors are imposing a positive market outlook.
  • According to the Centers for Disease Control and Prevention (CDC), almost 64% of the critically-ill patients treated for COVID-19 have received high-flow oxygen therapy, and nearly 71% of patients received mechanical ventilation.
  • According to the United States Food and Drug Administration (FDA), medical gases are manufactured at more than 4,000 manufacturing locations across the United States, the vast majority of which are small businesses. The manufacturing of medical gases is distributed across all 50 states to ensure that patients have access to critical medical gases in emergency settings, hospitals, outpatient clinics, and their homes.
  • Hence, all such market trends are expected to drive the demand for the United States industrial gas market during the forecast period.
US Industrial Gas Market - Forecasted National Health Expenditure, USD Billion, United States, 2022-2030

Increasing Demand from the Automotive Industry

  • Oxygen gas sensors are commonly used in automobile exhausts to correctly monitor the amount of oxygen entering the car cylinders. This instrument manages the emissions of petrol, diesel, and petrol engines.
  • Argon is also extensively employed as a multi-purpose gas in the manufacturing sector in the automotive industry. Because of its inert nature can be used in various applications, including metal manufacturing, fabrication, and processing.
  • The automobile industry in the United States is the second-largest in the world after China and contributes significantly to the regional and global automobile markets. The country houses major automakers producing and exporting vehicles to other economies in the Americas, Europe, and the Asia Pacific.
  • As per the National Automobile Dealers Association (NADA), the total value of the car and automobile manufacturing market in the United States was USD 82.6 billion in 2021. The association predicted that US new light-vehicle sales are likely to increase by 3.4% to 15.5 million units in 2022.
  • According to the International Energy Agency (IEA), in the United States, the federal aim is for electric vehicles (EVs) to make up 50% of new passenger cars and light trucks sold by 2030. Moreover, as per the International Council on Clean Transportation (ICCT), in 2020, the California Government announced an executive order which directs the state to require that, by 2035, all new cars and passenger trucks sold in California be zero-emission vehicles which include battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), and others.
  • The above-aforementioned factors are expected to lead to an increasing in demand for industrial gases in the forecast period.
US Industrial Gas Market - Automotive Production, Units, United States, 2018-2022

United States Industrial Gas Industry Overview

The United States industrial gas market is consolidated in nature. Some of the major companies (not in any particular order) are Air Liquide, Air Products and Chemicals Inc., Linde PLC, Matheson Tri-Gas, Inc., and Messer North America, Inc., among others.

United States Industrial Gas Market Leaders

  1. Air Liquide

  2. Air Products and Chemicals Inc.

  3. Linde PLC

  4. Matheson Tri-Gas, Inc.

  5. Messer North America, Inc.

*Disclaimer: Major Players sorted in no particular order

US Industrial Gas Market Concentration
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United States Industrial Gas Market News

  • January 2023: Iwatani Corporation of America, a wholly-owned subsidiary of Iwatani Corporation, announced the acquisition of Aspen Air US, LLC, a leading manufacturer and distributor of bulk liquid industrial gases. This acquisition marks Iwatani's entrance into the United States Industrial Gases sector and highlights the company's expansion focus in this business segment.
  • May 2022: Air Liquide established its largest liquid hydrogen production and logistics infrastructure complex in North Las Vegas, Nevada, to cater to the growing hydrogen mobility industry. With a USD 250 million investment, the plant has the capacity to manufacture 30 tons of liquid hydrogen per day, some of which is sourced from renewable natural gas produced using Air Liquide's advanced separation membrane technology, including landfill-sourced renewable natural gas.

United States Industrial Gas Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from the Healthcare Sector

      2. 4.1.2 Increasing Demand for Frozen and Stored Food

      3. 4.1.3 Growing Need for Alternate Energy Sources

    2. 4.2 Restraints

      1. 4.2.1 Environmental Regulations and Safety Issues

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Product Type

      1. 5.1.1 Nitrogen

      2. 5.1.2 Oxygen

      3. 5.1.3 Carbon Dioxide

      4. 5.1.4 Hydrogen

      5. 5.1.5 Helium

      6. 5.1.6 Argon

      7. 5.1.7 Ammonia

      8. 5.1.8 Methane

      9. 5.1.9 Propane

      10. 5.1.10 Butane

      11. 5.1.11 Other Product Types

    2. 5.2 End-User Industry

      1. 5.2.1 Oil and Gas

      2. 5.2.2 Energy and Power

      3. 5.2.3 Petrochemical and Chemical Manufacturing

      4. 5.2.4 Medical and Pharmaceutical

      5. 5.2.5 Food and Beverage

      6. 5.2.6 Metal Manufacturing and Fabrication

      7. 5.2.7 Transportation

      8. 5.2.8 Other End-User Industries (Electronics, Pulp and Paper, etc.)


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%) Analysis**/Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Air Liquide

      2. 6.4.2 Air Products and Chemicals Inc.

      3. 6.4.3 AIR WATER INC

      4. 6.4.4 BASF SE

      5. 6.4.5 Linde PLC

      6. 6.4.6 Iwatani Corporation

      7. 6.4.7 Matheson Tri-Gas, Inc.

      8. 6.4.8 Messer North America, Inc.

      9. 6.4.9 nexAir LLC.


      11. 6.4.11 UIG

    5. *List Not Exhaustive

    1. 7.1 Ramping up of Chemical and Petrochemical Industries in Gulf Coast and Texas

    2. 7.2 Growing Demand for Low-Carbon Gases in the Coming Years

**Subject to Availability
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United States Industrial Gas Industry Segmentation

Industrial gases are gases produced in relatively large quantities by gas manufacturing companies for use in a variety of industrial manufacturing processes. These gases are sold to other enterprises and industries, including oil and gas, petrochemicals, chemicals, power, mining, steelmaking, metals, environmental protection, medicine, pharmaceuticals, biotechnology, food, water, fertilizers, nuclear power, electronics, etc.

The United States industrial gas market is segmented by product type and end-user industry. By product type, the market is segmented into nitrogen, oxygen, carbon dioxide, hydrogen, helium, argon, ammonia, methane, propane, butane, and other types. The end-user industry segments the market into chemical processing and refining, electronics, food and beverage, oil and gas, metal manufacturing and fabrication, medical and pharmaceutical, automotive and transportation, energy and power, and other end-user industries.

For each segment, the market sizing and forecasts have been done on the basis of volume (tons).

Product Type
Carbon Dioxide
Other Product Types
End-User Industry
Oil and Gas
Energy and Power
Petrochemical and Chemical Manufacturing
Medical and Pharmaceutical
Food and Beverage
Metal Manufacturing and Fabrication
Other End-User Industries (Electronics, Pulp and Paper, etc.)
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United States Industrial Gas Market Research FAQs

The US Industrial Gas Market is projected to register a CAGR of 3.79% during the forecast period (2024-2029)

Air Liquide , Air Products and Chemicals Inc., Linde PLC, Matheson Tri-Gas, Inc. and Messer North America, Inc. are the major companies operating in the US Industrial Gas Market.

The report covers the US Industrial Gas Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the US Industrial Gas Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

United States Industrial Gas Industry Report

Statistics for the 2024 United States Industrial Gas market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Industrial Gas analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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United States Industrial Gas Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)