Gas Equipment Market Size, Share, Trends, Growth 2032

Gas Equipment Market Insights

According to a report from Zion Market Research, the global Gas Equipment Market was valued at USD 53.86 Billion in 2023 and is projected to hit USD 111.86 Billion by 2032, with a compound annual growth rate (CAGR) of 8.46% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Gas Equipment industry over the next decade.

Request Free Sample

Gas Equipment Market: Overview

Gas mixtures are multi-component products that are developed for various applications. A wide range of gas mixture products is used for laser processing. The global popularity of the gas equipment market can be due to the increase in product demand by various end-user industries, such as healthcare and medical, and chemical, among others.

Global Gas Equipment Market: Growth Factors

The major growth driver in the global gas equipment market is the rise in the usage of industrial gases in various industries, such as oil and gas, healthcare and medical, and chemical. Emerging economies, such as India, China, and Brazil, are potential markets for industrial gas equipment. Globalization, developing economies, and less number of trade barriers are also contributing to the development of the gas equipment market globally in the forthcoming years. Furthermore, acetylene and hydrogen gases have huge potential in the future, as the demand for both gases is growing rapidly, particularly in food processing, metallurgical, and chemical industries.

Request Free Sample

Besides, various technological advancements and the launch of advanced products by the key players operating in the gas detection equipment are projected to create new growth opportunities in this global market, especially in the Asia Pacific region.

Global Gas Equipment Market: Segmentation

The global gas equipment market is classified into industrial gas, equipment type, end-user, and process.

By industrial gas, this market includes helium, acetylene, hydrogen, atmospheric, and others (xenon, neon, nitrous oxide, krypton, and carbon monoxide).

Based on equipment type, this market includes gas detection systems, cryogenics, gas generation, flow devices, purifiers and filters, regulators, and gas delivery.

On the basis of process, the market for gas equipment comprises transportation, detection, storage, and generation.

By end-user, this market includes oil and gas, emergency services, water treatment, mining, power generation, healthcare and medical, metal fabrication, chemical, and others (electronics, automotive, and food and beverage. Cryogenics is likely to dominate this global market in the years ahead, owing to the increased usage of highly-cooled liquefied gases by the chemical industry.

Gas Equipment Market: Report Scope

Global Gas Equipment Market: Regional Analysis

The global gas equipment market is classified into Europe, North America, the Middle East, and Africa, Latin America, and the Asia Pacific. In 2017, the North American gas equipment market dominated globally and is anticipated to maintain its position over the estimated period as well. At the country level, the U.S. is likely to be the fastest growing country in this region. This growth can be attributed to the globalization and less number of trade barriers. The Asia Pacific region is projected to register the highest rate of growth in this market over the estimated time period. This regional growth can be due to the substantial developments made in the metal fabrication industry, owing to the rising demand for consumer appliances and automobiles.

Other factors propelling this region’s gas equipment market include rapid industrialization in China and India, technological developments and adoption of new machines in the healthcare sector, and strict government regulations for the safety and security of environment and workers.Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Global Gas Equipment Market: Competitive Players

Some main participants of the gas equipment market are

• GCE Holding
• Matheson Tri-Gas
• Iwatani Corporation
• Taiyo Nippon Sanso
• Welsco
• Messer Group
• Advanced Specialty Gases
• Itron
• Air Products and Chemicals
• Praxair
• Colfax
• Linde Group
• Airgas
• Air Liquide

The global gas equipment market is segmented as follows:

By Industrial Gas

• helium
• acetylene
• hydrogen
• atmospheric

By Equipment Type

• Gas detection systems
• Cryogenics
• Gas generation
• Flow devices
• Purifiers and filters
• Regulators
• Gas delivery

By Process

• Transportation
• Detection
• Storage
• Generation

By End-User

• Oil and gas
• Emergency services
• Water treatment
• Mining
• Power generation
• Healthcare and medical
• Metal fabrication
• Chemical
• Others

Gas Equipment Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa