Future North America Industrial Gases Market: Key Dynamics, Size & Share Analysis

The North America Industrial Gases Market size is valued at around USD 27.35 billion in 2025 and is projected to reach USD 34.53 billion by 2032. Along with this, the market is estimated to grow at a CAGR of around 4.78% during the forecast period, i.e., 2026-32.

Top Challenges Impacting the North America Industrial Gases Market Growth

High energy intensity undermines profitability

Cryogenic air separation remains the dominant technology for producing oxygen, nitrogen, and argon, but it is extremely energy-intensive, with electricity accounting for over 65% of the cost of oxygen production. As power prices in key U.S. regions rise 5-10% annually, margins on industrial gases get squeezed even when demand is strong. For instance, a Midwest producer recorded a 12% drop in operating margin in 2024 purely due to elevated grid tariffs. Moreover, load-following flexibility is limited in ASUs, constraining their ability to adjust to a volatile renewable power supply. This structural energy cost burden forces firms to compete on scale and efficiency, limiting entry by smaller players.

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Understanding the Core Segments in the North America Industrial Gases Market

North America Industrial Gases Market Size, Share & Industry Trends Analysis- By Gas (Nitrogen, Oxygen, Carbon dioxide, Argon, Hydrogen, Helium, Acetylene, Others), By Application (Combustion and process oxygen, Welding and metal fabrication, Inerting blanketing and heat treating, Cryogenics and liquefaction, Chemical synthesis and hydrogenation, Purging and purifications, Analytical and calibration), By Supply Mode (Merchant packaged sales, Bulk delivered and cryogenic storage, Long-term onsite plants undertake or supply contracts, Pipeline network supply, Gas as a service and rental), By End-User Industry (Oil and Gas, Petrochemicals and Chemicals, Power and Energy, Mining, Steelmaking, Metals, Healthcare, Food and Beverages, Fertilizers, Others), and others

Who Dominates the North America Industrial Gases Market Insights on Key Industry Players?

Companies are strengthening their presence in the North America Industrial Gases market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.

• Air Liquide
• Airgas
• Air Products and Chemicals
• Chart Industries
• Linde
• Matheson Tri-Gas
• Messer Americas
• Praxair
• Taylor-Wharton
• Universal Industrial Gases
• Others

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