India Industrial Gases Market (2025-2031) | Size & Revenue, Analysis, Value, Growth, Trends, Segmentation, Competitive Landscape, Share, Forecast, Industry, Outlook, Companies
Market Forecast By Product Type (Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Helium, Argon, Ammonia), By End-User Industry (Chemical Processing and Refining, Electronics, Oil and Gas, Metal Manufacturing and Fabrication, Medical and Pharmaceutical, Automotive and Transportation, Energy and Power, Others) And Competitive Landscape
| Product Code: ETC7545501 | Publication Date: Sep 2024 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
India Industrial Gases Market Growth Rate
According to 6Wresearch internal database and industry insights, the India Industrial Gases Market is projected to grow at a compound annual growth rate (CAGR) of 7.3% during the forecast period (2025–2031).
India Industrial Gases Market Import Shipment Trend (2020-2024)
The India industrial gases market import shipments experienced robust expansion from 2020 to 2024, with a significant CAGR of 43.0%. The growth momentum notably spiked between 2023 and 2024, with a growth rate of 328.5%, indicating accelerated market expansion and strong upward trend during that period.
India Industrial Gases Market Highlights
| Report Name | India Industrial Gases Market |
| Forecast period | 2025–2031 |
| CAGR | 7.3% |
| Growing Sector | Chemical Processing & Energy and Power |
Five-Year Growth Trajectory of the India Industrial Gases Market with Core Drivers
Below mentioned are the evaluation of year-wise growth rate along with key drivers:
| Years | Est. Annual Growth (%) | Growth Drivers |
| 2020 | 2.10% | Gradual recovery in industrial output and limited medical oxygen demand post infrastructure expansion. |
| 2021 | 3.40% | Rise in manufacturing activities and modest growth in steel and chemical industries. |
| 2022 | 4.70% | Expansion of energy and power sector boosting nitrogen and oxygen demand. |
| 2023 | 5.80% | Growing metal fabrication and automotive sector driving higher hydrogen and argon consumption. |
| 2024 | 6.60% | Increasing adoption of renewable energy and refining capacity expansion boosting industrial gas usage. |
Topics Covered in the India Industrial Gases Market Report
The India Industrial Gases Market report thoroughly covers the market by product type and end-user industry. The report provides an unbiased and detailed analysis of ongoing market trends, opportunities/high-growth areas, and market drivers that will help stakeholders devise and align strategies according to current and future market dynamics.
India Industrial Gases Market Synopsis
The India Industrial Gases Market Growth is driven by growing manufacturing, refining and energy industries. The strong waves of industrialization, infrastructure improvement, and renewable energy initiatives are creating opportunities for growth in the demand for nitrogen, oxygen, hydrogen, and other gases. Healthcare, chemical processing, and electronics are also ramping up utilization, adding further market potential in this important industry. Evolving energy usage levels and growing steel and metal fabrication will be unforeseeable to help increase our market growth potential and solidify India as a key market in industrial gases production, sales, and consumption.
Evaluation of Growth Drivers in the India Industrial Gases Market
Below mentioned are some prominent drivers and their influence on the India Industrial Gases Market dynamics:
| Drivers | Primary Segments Affected | Why it Matters (Evidence) |
| Expanding Manufacturing and Infrastructure Sectors | Nitrogen, Oxygen, Hydrogen | Growing industrialization and construction activities increase gas consumption in metal cutting, welding, and processing. |
| Rising Chemical and Refining Operations | Ammonia, Hydrogen, Oxygen | Petrochemical refineries and fertilizer plants utilize industrial gases extensively for production and processing. |
| Energy Transition and Clean Hydrogen Push | Hydrogen, Carbon Dioxide | India’s clean energy mission and hydrogen economy roadmap increase hydrogen and CO₂ capture demand. |
| Growth of Healthcare and Pharmaceutical Sector | Oxygen, Nitrogen | Expanding medical and pharmaceutical manufacturing drives oxygen and nitrogen usage. |
| Rapid Expansion of Electronics and Semiconductor Manufacturing | Helium, Nitrogen | Semiconductor fabrication processes depend on high-purity gases for etching and cooling applications. |
India Industrial Gases Market is expected to grow steadily at 7.3% CAGR between 2025 and 2031, The India Industrial Gases Market is expected to witness significant growth due to the rising manufacturing, refining, and energy sectors. The accelerating industrialization, supported by government initiatives for the development of infrastructure and alternative energy, increases the demand for nitrogen, oxygen, hydrogen, and other gases. The growing utilization in healthcare, chemical processing, and electronics also drives the market. Furthermore, increasing energy consumption, and the ongoing growth of the steel and metal fabrication industries, strengthens India position as a leading market for both production and use of industrial gases.
Evaluation of Restraints in the India Industrial Gases Market
Below mentioned are some major restraints and their influence on the India Industrial Gases Market dynamics:
| Restraints | Primary Segments Affected | What this Means (Evidence) |
| High Capital and Energy Costs | All Gas Types | Industrial gas production is energy-intensive, affecting profit margins and scalability. |
| Limited Storage and Transportation Infrastructure | Hydrogen, Helium | Complex logistics and safety issues hinder wide-scale distribution. |
| Import Dependence for Specialty Gases | Helium, Rare Gases | Lack of indigenous resources increases reliance on imports. |
| Volatile Raw Material Prices | Oxygen, Carbon Dioxide | Cost fluctuations in electricity and feedstock impact production stability. |
| Regulatory Complexity | All Types | Varying safety and environmental regulations increase compliance costs. |
India Industrial Gases Market Challenges
India Industrial Gases Industry encounters significant challenges due to limited infrastructure and elevated operational costs. Although demand is increasing, the distribution system for compressed and liquefied gases remains inadequate in semi-urban and rural areas. Moreover, the storage of hydrogen and helium requires heavy investment. The scarcity of domestic production for rare gases leads to import dependence, longer delivery times, and higher expenses, ultimately restricting large-scale growth and posing obstacles for local manufacturers.
India Industrial Gases Market Trends
Several significant trends are influencing the India Industrial Gases Industry:
- Shift Toward Green Hydrogen Production: Increasing focus on green hydrogen generation through electrolysis for decarbonizing industries and transportation.
- Integration of On-Site Gas Generation Systems: Several companies are implementing on-site gas generation units to cut down logistics expenses and guarantee a steady gas supply.
- Use of Industrial Gases in Energy Storage and Cooling: Growing application of nitrogen and helium across renewable power generation and advanced cryogenic cooling operations.
- Expansion of Semiconductor and Electronics Fabrication: The government’s “Make in India” push and electronics manufacturing clusters are boosting high-purity gas demand.
- Development of Cryogenic Storage Infrastructure: Major capital is directed toward developing cryogenic transport and storage systems to improve nationwide gas supply efficiency.
Investment Opportunities in the India Industrial Gases Industry
Some of the notable investment opportunities are:
- Hydrogen Production and Distribution Projects: Investment in green hydrogen plants aligned with India National Hydrogen Mission (INHM).
- Cryogenic Infrastructure Development: The escalation in cryogenic tank manufacturing and distribution systems will help further improve gas logistics.
- Establishment of Air Separation Units: The increased demand from refineries and steel demand opens opportunities for localized production units.
- Specialty Gas Production for Electronics: The increased demand stemming from semiconductor manufacturing could spur demand for helium and ultra-pure gas production.
- Joint Ventures for Renewable Integration: Creating partnerships between energy companies and gas companies will create integrated renewable powered gas production facilities.
Top 5 Leading Players in the India Industrial Gases Market
Below is the list of prominent companies leading in the India Industrial Gases Market Share:
1. Linde India Limited
| Company Name | Linde India Limited |
| Established Year | 1935 |
| Headquarters | Kolkata, India |
| Official Website | Click Here |
Linde India provides oxygen, nitrogen, hydrogen, and argon gases for steelmaking, healthcare, and refinery sectors, focusing on large-scale on-site gas generation.
2. Air Liquide India Private Limited
| Company Name | Air Liquide India Private Limited |
| Established Year | 1902 |
| Headquarters | Paris, France |
| Official Website | Click Here |
Air Liquide serves industrial and healthcare sectors in India, supplying oxygen, nitrogen, and specialty gases through advanced cryogenic technologies.
3. INOX Air Products Private Limited
| Company Name | INOX Air Products Private Limited |
| Established Year | 1963 |
| Headquarters | Mumbai, India |
| Official Website | Click Here |
INOX Air Products is a leading domestic producer offering industrial gases for manufacturing, healthcare, and energy sectors through a vast distribution network.
4. Praxair India (Linde Group)
| Company Name | Praxair India (Linde Group) |
| Established Year | 1907 |
| Headquarters | Danbury, USA |
| Official Website | Click Here |
Praxair provides industrial gases, cryogenic systems, and application technology solutions to refineries and metal fabrication industries in India.
5. Gulf Cryo India Pvt. Ltd.
| Company Name | Gulf Cryo India Pvt. Ltd. |
| Established Year | 1953 |
| Headquarters | Kuwait City, Kuwait |
| Official Website | Click Here |
Gulf Cryo specializes in liquid nitrogen, carbon dioxide, and argon production for industrial and healthcare sectors, with operations expanding in Western India.
Government Regulations Introduced in the India Industrial Gases Market
According to Indian Government data, The India Ministry of Petroleum and Natural Gas, initiatives such as the National Hydrogen Mission (2021) aim to produce five million metric tonnes of green hydrogen annually by 2030, directly boosting hydrogen demand. The Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell manufacturing encourages the use of industrial gases in battery and chemical processes. Furthermore, under the Make in India program, incentives for electronics manufacturing are increasing the demand for high-purity gases like helium and nitrogen. These initiatives collectively promote domestic production and reduce reliance on imported gases.
Future Insights of the India Industrial Gases Market
The India Industrial Gases Market is expected to grow steadily, supported by the adoption of clean energy technologies, expansion of semiconductor manufacturing, and growing emphasis on green hydrogen development. Rising investments in cryogenic storage facilities and localized air separation units will enhance domestic supply chains and minimize reliance on imports. Furthermore, sustained government efforts toward energy efficiency, emission control, and sustainable industrial practices are anticipated to accelerate market expansion, positioning India as a key global industrial gases hub.
Market Segmentation Analysis
The report offers a comprehensive study of the subsequent market segments and their leading categories.
By Product Type – Oxygen to Dominate the Market
According to Ritika Kalra, Senior Research Analyst, 6Wresearch, Oxygen is projected to dominate the India Industrial Gases Market Share due to its extensive use in steelmaking, chemical refining, and healthcare applications. The increasing expansion of refineries, metal fabrication units, and healthcare infrastructure across the country continues to drive its strong demand.
By End-User Industry – Chemical Processing and Refining to Dominate the Market
The Chemical Processing and Refining segment leads the market due to the increasing use of industrial gases such as hydrogen, ammonia, and oxygen in refining operations, fertilizer manufacturing, and petrochemical production. Continuous investment in India’s downstream chemical sector is expected to maintain this dominance during the forecast period.
Key Attractiveness of the Report
- 10 Years of Market Numbers
- Historical Data Starting from 2021 to 2024
- Base Year: 2024
- Forecast Data until 2031
- Key Performance Indicators Impacting the Market
- Major Upcoming Developments and Projects
Key Highlights of the Report:
- India Industrial Gases Market Outlook
- Market Size of India Industrial Gases Market, 2024
- Forecast of India Industrial Gases Market, 2031
- Historical Data and Forecast of India Industrial Gases Revenues & Volume for the Period 2021- 2031
- India Industrial Gases Market Trend Evolution
- India Industrial Gases Market Drivers and Challenges
- India Industrial Gases Price Trends
- India Industrial Gases Porter's Five Forces
- India Industrial Gases Industry Life Cycle
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Product Type for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Nitrogen for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Oxygen for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Carbon Dioxide for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Hydrogen for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Helium for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Argon for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Ammonia for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By End-User Industry for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Chemical Processing and Refining for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Electronics for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Oil and Gas for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Metal Manufacturing and Fabrication for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Medical and Pharmaceutical for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Automotive and Transportation for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Energy and Power for the Period 2021- 2031
- Historical Data and Forecast of India Industrial Gases Market Revenues & Volume By Others for the Period 2021- 2031
- India Industrial Gases Import Export Trade Statistics
- Market Opportunity Assessment By Product Type
- Market Opportunity Assessment By End-User Industry
- India Industrial Gases Top Companies Market Share
- India Industrial Gases Competitive Benchmarking By Technical and Operational Parameters
- India Industrial Gases Company Profiles
- India Industrial Gases Key Strategic Recommendations
Market Covered
The report offers a comprehensive study of the subsequent market segments:
By Product Type
- Nitrogen
- Oxygen
- Carbon Dioxide
- Hydrogen
- Helium
- Argon
- Ammonia
By End-User Industry
- Chemical Processing and Refining
- Electronics
- Oil and Gas
- Metal Manufacturing and Fabrication
- Medical and Pharmaceutical
- Automotive and Transportation
- Energy and Power
- Others
India Industrial Gases Market (2025-2031): FAQs
The India Industrial Gases Market is projected to grow at a CAGR of 7.3% during the forecast period.
The Chemical Processing and Refining industry holds the largest market share owing to its high gas consumption for production and purification processes.
High energy costs, infrastructure limitations, and dependence on imports for specialty gases remain key challenges.
Key trends include the development of on-site gas generation units, green hydrogen production, and the integration of IoT for real-time gas monitoring and optimization.
6Wresearch actively monitors the India Industrial Gases Market and publishes its comprehensive annual report, highlighting emerging trends, growth drivers, revenue analysis, and forecast outlook. Our insights help businesses to make data-backed strategic decisions with ongoing market dynamics. Our analysts track relevent industries related to the India Industrial Gases Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
| 1 Executive Summary |
| 2 Introduction |
| 2.1 Key Highlights of the Report |
| 2.2 Report Description |
| 2.3 Market Scope & Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3 India Industrial Gases Market Overview |
| 3.1 India Country Macro Economic Indicators |
| 3.2 India Industrial Gases Market Revenues & Volume, 2021 & 2031F |
| 3.3 India Industrial Gases Market - Industry Life Cycle |
| 3.4 India Industrial Gases Market - Porter's Five Forces |
| 3.5 India Industrial Gases Market Revenues & Volume Share, By Product Type, 2021 & 2031F |
| 3.6 India Industrial Gases Market Revenues & Volume Share, By End-User Industry, 2021 & 2031F |
| 4 India Industrial Gases Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.2.1 Increasing demand from end-use industries such as metal fabrication, healthcare, and food processing |
| 4.2.2 Growing adoption of industrial gases for various applications due to technological advancements |
| 4.2.3 Government initiatives promoting the use of industrial gases for environmental sustainability |
| 4.3 Market Restraints |
| 4.3.1 Fluctuating prices of raw materials used in industrial gas production |
| 4.3.2 Intense competition among market players leading to pricing pressures |
| 4.3.3 Regulatory challenges related to safety and environmental compliance |
| 5 India Industrial Gases Market Trends |
| 6 India Industrial Gases Market, By Types |
| 6.1 India Industrial Gases Market, By Product Type |
| 6.1.1 Overview and Analysis |
| 6.1.2 India Industrial Gases Market Revenues & Volume, By Product Type, 2021- 2031F |
| 6.1.3 India Industrial Gases Market Revenues & Volume, By Nitrogen, 2021- 2031F |
| 6.1.4 India Industrial Gases Market Revenues & Volume, By Oxygen, 2021- 2031F |
| 6.1.5 India Industrial Gases Market Revenues & Volume, By Carbon Dioxide, 2021- 2031F |
| 6.1.6 India Industrial Gases Market Revenues & Volume, By Hydrogen, 2021- 2031F |
| 6.1.7 India Industrial Gases Market Revenues & Volume, By Helium, 2021- 2031F |
| 6.1.8 India Industrial Gases Market Revenues & Volume, By Argon, 2021- 2031F |
| 6.2 India Industrial Gases Market, By End-User Industry |
| 6.2.1 Overview and Analysis |
| 6.2.2 India Industrial Gases Market Revenues & Volume, By Chemical Processing and Refining, 2021- 2031F |
| 6.2.3 India Industrial Gases Market Revenues & Volume, By Electronics, 2021- 2031F |
| 6.2.4 India Industrial Gases Market Revenues & Volume, By Oil and Gas, 2021- 2031F |
| 6.2.5 India Industrial Gases Market Revenues & Volume, By Metal Manufacturing and Fabrication, 2021- 2031F |
| 6.2.6 India Industrial Gases Market Revenues & Volume, By Medical and Pharmaceutical, 2021- 2031F |
| 6.2.7 India Industrial Gases Market Revenues & Volume, By Automotive and Transportation, 2021- 2031F |
| 6.2.8 India Industrial Gases Market Revenues & Volume, By Others, 2021- 2031F |
| 6.2.9 India Industrial Gases Market Revenues & Volume, By Others, 2021- 2031F |
| 7 India Industrial Gases Market Import-Export Trade Statistics |
| 7.1 India Industrial Gases Market Export to Major Countries |
| 7.2 India Industrial Gases Market Imports from Major Countries |
| 8 India Industrial Gases Market Key Performance Indicators |
| 8.1 Adoption rate of industrial gases in emerging industries |
| 8.2 Utilization rate of industrial gases in existing end-use sectors |
| 8.3 Investment in research and development for new industrial gas applications |
| 8.4 Number of government policies supporting the use of industrial gases |
| 8.5 Environmental impact assessments and sustainability certifications for industrial gas production and usage |
| 9 India Industrial Gases Market - Opportunity Assessment |
| 9.1 India Industrial Gases Market Opportunity Assessment, By Product Type, 2021 & 2031F |
| 9.2 India Industrial Gases Market Opportunity Assessment, By End-User Industry, 2021 & 2031F |
| 10 India Industrial Gases Market - Competitive Landscape |
| 10.1 India Industrial Gases Market Revenue Share, By Companies, 2024 |
| 10.2 India Industrial Gases Market Competitive Benchmarking, By Operating and Technical Parameters |
| 11 Company Profiles |
| 12 Recommendations |
| 13 Disclaimer |
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