IMARC Group’s report titled “India Industrial Gases Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. offers a comprehensive analysis of the industry, which comprises insights on the India industrial gases market trends. The market size reached US$ 3.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.58% during 2023-2028.
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Factors Affecting the Growth of the India Industrial Gases Industry:
- Advancements in Technology and Infrastructure:
Technological advancements in the manufacturing and storage of industrial gases represent one of the key factors contributing to the market growth in India. Innovations in gas production methods, such as air separation technologies, are becoming more efficient, leading to a more reliable and consistent supply. Additionally, improvements in storage and transportation infrastructure are facilitating easier and safer distribution of these gases to various end-use sectors across the country. This has not only improved the efficiency of gas usage but also expanded the reach to different regions.
- Increasing Demand from the Food and Beverage (F&B) Industry:
Changing lifestyle patterns of individuals are supporting the market growth in the country. Industrial gases like carbon dioxide and nitrogen play a crucial role in this sector. They are used in the carbonation of beverages, packaging, and preservation of food products. The trend towards packaging and convenience is driving the demand for modified atmosphere packaging (MAP), which aids in extending the shelf life of products. Furthermore, the increasing need for efficient food preservation and packaging solutions in the retail sector, including supermarkets and online grocery platforms, is driving the demand for industrial gases.
- Environmental Concerns and Sustainability:
The rising challenges of climate change and environmental degradation are prompting industries to adopt eco-friendly practices. Industrial gases play a pivotal role in this endeavor by offering solutions that enable companies to decrease their carbon footprint and minimize their environmental impact. Industrial gases like hydrogen are crucial for fuel cells and clean energy technologies, contributing to the inclinations towards cleaner and more sustainable energy sources. Moreover, industrial gases play a crucial role in wastewater treatment and purification processes, aiding industries in adhering to environmental standards for effluent discharge. By enabling efficient wastewater treatment, industrial gases help conserve water resources and minimize contamination of natural water bodies.
India Industrial Gases Market Report Segmentation:
- Carbon Dioxide
Nitrogen represents the largest segment due to its wide range of applications and essential role in various industries.
Manufacturing exhibits a clear dominance in the market as there is a rise in the demand for industrial gases in manufacturing processes.
By Supply Mode:
Packaged holds the biggest market share due to the convenience and efficiency of this delivery method for a variety of end-users.
- North India
- West and Central India
- South India
- East India
East India dominates the market, owing to its robust industrial infrastructure.
India Industrial Gases Market Trends:
The increasing demand for specialty gases in sectors, such as electronics, healthcare, and research and development (R&D) is supporting the market growth in the country. These gases, which include rare and ultra-high purity gases, are critical in applications like semiconductor manufacturing, analytical procedures, and certain medical technologies. The electronics industry also requires a steady supply of specialty gases for the production of microchips and other components. In addition, advancements in healthcare and research sectors are driving the need for high-purity gases tailored to specific and often stringent requirements.
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