The industrial gases market to reach $365.65bn by 2035 driven by hydrogen

Global demand for industrial gases will grow on the back of hydrogen expansion, carbon capture technologies, and advanced use in healthcare, electronics, and low-carbon fuel manufacturing.

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The global industrial gases market is expected to reach $365.65bn by 2035, up from $105.82bn in 2024, recording an annual growth rate of 11.95%. This expansion is driven by the rising prominence of hydrogen in global energy strategies, the integration of high-purity gases in advanced manufacturing, and the widespread adoption of carbon capture, utilisation and storage (CCUS) technologies.

Hydrogen as a strategic driver of the sector

Hydrogen, both green and blue, is becoming a pillar of the energy transition. Large-scale investments in production, distribution and storage infrastructure aim to support clean mobility and power grid decarbonisation. Industry players are expanding their portfolios to include low-emission gases in response to net-zero goals and circular industrial policies implemented by several governments.

In heavy industrial processes, gases such as oxygen, nitrogen and carbon dioxide are used to optimise chemical reactions, reduce emissions and improve energy efficiency across facilities. Increased use of these gases is also accompanying the technological advancement of sectors such as metallurgy, petrochemicals and electronic components manufacturing.

Technological deployment and cross-sector alliances

The industry is shifting towards on-site gas generation systems that are more compact and energy efficient, suited to increasing requirements for reliability and operational flexibility. These modular units are addressing rising demand in the production of electric vehicle batteries, semiconductors and photovoltaic cells.

At the same time, the digitalisation of operations – through the use of artificial intelligence (AI) and the Internet of Things (IoT) – is enabling predictive logistics management, real-time monitoring and enhanced traceability across the value chain. Several industrial gas providers are forming partnerships with energy groups, industrial manufacturers and logistics operators to build integrated ecosystems.

Strategic positioning for market players

Diversifying into high-value segments, such as aerospace, precision medicine and advanced electronics, is becoming a key focus. These markets require ultra-high-purity gases and stringent reliability standards. Within this context, the ability to capture, store and monetise carbon is also emerging as a competitive lever, notably through carbon credit markets or CO₂ conversion into industrial feedstocks.

Regional dynamics show an acceleration of projects in areas with high industrial density and supportive policy frameworks. This trend positions industrial gases not merely as commodities but as strategic assets within global energy and technology value chains.

HTEC has inaugurated a clean hydrogen production facility in Burnaby, British Columbia, marking the launch of the province’s first commercial-scale electrolyzer, with a combined production capacity of 1.8 tonnes of clean hydrogen per day.
Buscando Resources officially becomes Element One Hydrogen and Critical Minerals Corp. and completes a C$1.03mn fundraising through a three-tranche private placement.
The partnership includes local manufacturing in Poland of electrolysis systems using Elogen’s technology, with deliveries targeting the Europe, Middle East and Africa markets.
Vema Hydrogen has been named a qualified supplier by the First Public Hydrogen Authority to deliver clean hydrogen at industrial scale to California’s public and private infrastructure.
Le groupe français HRS a signé une commande pour la livraison d'une station hydrogène haute capacité, renforçant sa présence dans un réseau en expansion à l’échelle européenne.
With a $14mn investment, Enap progresses on the construction of its first green hydrogen plant, expected to be operational in early 2026 in the Magallanes region of southern Chile.
Plug completed the first delivery of 44.5 tonnes of hydrogen for the H2CAST project in Germany and secured a new contract for an additional 35 tonnes, confirming its logistical capabilities in the European market.
Gushine Electronics has opened a lithium battery plant in Vietnam, with an estimated annual production value of $100 mn, marking a new phase in the international deployment of its industrial capacities.
Indonesian nickel producer Anugrah Neo Energy Materials plans a $300mn IPO in December to finance its growing battery materials operations.
Sultan Qaboos University announces a breakthrough in water electrolysis using new rare-metal catalysts, improving production efficiency by more than 30%.
Standard Lithium a sécurisé $130mn via une émission d’actions ordinaires pour financer ses projets d’extraction de lithium en Arkansas et au Texas, consolidant sa position sur le marché nord-américain des métaux stratégiques.
Asset manager Quinbrook expands its North American portfolio with a first Canadian investment by acquiring a strategic stake in developer Elemental Clean Fuels.
Lhyfe commissions a 10 MW site in Schwäbisch Gmünd, its first in Germany, to supply RFNBO-certified green hydrogen to industrial and heavy mobility clients.
Brookfield will invest up to $5 billion in Bloom Energy's fuel cells to power future artificial intelligence factories, initiating the first phase of a dedicated global digital infrastructure strategy.
Metacon acquired components from the bankruptcy estate of Hynion Sverige AB for SEK3.5mn ($320,000), aiming to support its hydrogen refuelling station projects in Sweden.
The United Kingdom has carried out its first real-life trial of green hydrogen blending into the national gas transmission network, with power generation as a result.
Swedish company Liquid Wind has secured €3.6mn in public funding for the engineering phase of its eMethanol plant, integrated into a biomass-fuelled cogeneration site.
The Japanese industrial group will replace a 73.5 MW coke and gas-fired turbine with a 30 to 40 MW hydrogen-ready unit, scheduled to start operations in 2030 with ¥7.1bn ($47mn) in public support.
A two-year project aims to identify areas in Texas suitable for natural hydrogen exploitation, despite challenges related to infrastructure, public policy and economic viability.
Plug Power has announced the appointment of Jose Luis Crespo as President effective October 10, before assuming the role of Chief Executive Officer once the company publishes its annual report, expected in March 2026.

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