The India industrial gases market size reached USD 3.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 6.8 Billion by 2033, exhibiting a growth rate (CAGR) of 7.12% during 2025-2033.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2024
|
Forecast Years
|
2025-2033
|
Historical Years
|
2019-2024
|
Market Size in 2024
|
USD 3.6 Billion |
Market Forecast in 2033
|
USD 6.8 Billion |
Market Growth Rate (2025-2033) | 7.12% |
Also known as fuel, medical, refrigerant and specialty gases, industrial gases are mass-produced for different industrial purposes. These gases, especially oxygen and helium, are widely used in the medical sector for supporting artificially ventilated patients. Moreover, hydrogen finds application in the transportation industry and liquid-helium is utilized in magnetic resonance imaging (MRI) equipment. At present, the rapidly expanding end use sectors, such as steel manufacturing, pharmaceuticals, healthcare, and food and beverage (F&B), are positively influencing the demand for industrial gases in India.
The well-organized refining and steel manufacturing sectors represent one of the key factors strengthening the growth of the industrial gases market in India. Apart from this, the Government of India is significantly investing in various research and development (R&D) projects to support numerous sectors, which, in turn, is contributing to the market growth. However, the coronavirus disease (COVID-19) outbreak, consequent lockdown in the country and temporary closure of various manufacturing units has negatively influenced the market growth. The market will experience growth once normalcy is regained.
IMARC Group provides an analysis of the key trends in each sub-segment of the India industrial gases market report, along with forecasts at the country level from 2025-2033. Our report has categorized the market based on type, application, and supply mode.
Breakup by Type:
Breakup by Application:
Breakup by Supply Mode:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Features | Details |
---|---|
Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Segment Coverage | Type, Application, Supply Mode, Region |
Regions Covered | North India, West and Central India, South India, East India |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The India industrial gases market was valued at USD 3.6 Billion in 2024.
We expect the India industrial gases market to exhibit a CAGR of 7.12% during 2025-2033.
The rising utilization of industrial gases across various industries, such as steel manufacturing, pharmaceuticals, healthcare, etc., as they aid in optimizing processes, improving efficiency, streamlining operations, reducing costs, and increasing overall productivity, is primarily driving the India industrial gases market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary halt in numerous production activities for industrial gases.
Based on the type, the India industrial gases market can be segmented into nitrogen, oxygen, carbon dioxide, argon, hydrogen, and others. Currently, nitrogen accounts for the majority of the total market share.
Based on the application, the India industrial gases market has been categorized into manufacturing, metallurgy, energy, chemicals, healthcare, and others. Among these, manufacturing currently exhibits a clear dominance in the market.
Based on the supply mode, the India industrial gases market can be segregated into packaged, bulk, and on-site. Currently, packaged holds the largest market share.
On a regional level, the market has been classified into North India, West and Central India, South India, East India, where East India currently dominates the India industrial gases market.