IMARC Group has published a market research report titled “Europe Industrial Gases Market Report by Type (Nitrogen, Oxygen, Carbon Dioxide, Argon, Hydrogen, and Others), Application (Manufacturing, Metallurgy, Energy, Chemicals, Healthcare, and Others), Supply Mode (Packaged, Bulk, On-Site), and Country 2024-2032” The Europe industrial gases market size reached US$ 16.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 23.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032.
The growing applications across key sectors, including healthcare, manufacturing, energy, etc., are the factors responsible for the growth of the Europe industrial gases market. Additionally, in the healthcare sector, the demand for medical gases has escalated, particularly due to the COVID-19 pandemic, which underscored the critical need for oxygen and other gases in medical treatment facilities, which is fueling the market. Moreover, the manufacturing sector continues to consume large volumes of gases like nitrogen and hydrogen, integral to processes such as welding and fabrication, which are essential for production efficiency and quality improvement, which is further bolstering the market. This trend is supported by the ongoing recovery and growth of industrial activities in the region, post-economic downturn.
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Europe Industrial Gases Market Trends and Drivers:
The environmental concerns and regulatory policies in Europe are catalyzing shifts towards cleaner and more sustainable industrial practices, further augmenting the market. This shift is particularly evident in the increasing use of hydrogen as an alternative fuel and energy source, promoting a move away from fossil fuels towards greener alternatives. Additionally, companies are investing in innovative technologies for the efficient production and use of gases, enhancing their appeal across various applications, which is acting as another growth-inducing factor. Furthermore, the development of carbon capture and storage technologies also presents a significant growth opportunity for the industrial gases sector, as it aligns with global and regional goals for reducing carbon footprints, which is anticipated to drive the Europe industrial gases market over the forecasted period.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Nitrogen
- Oxygen
- Carbon Dioxide
- Argon
- Hydrogen
- Others
Breakup by Application:
- Manufacturing
- Metallurgy
- Energy
- Chemicals
- Healthcare
- Others
Breakup by Supply Mode:
- Packaged
- Bulk
- On-Site
Breakup by Country:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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