India Industrial, Specialty & Shielding Gases Market to Grow with a CAGR of 5.12% through 2029
Growth in research and development activities is
expected to drive the India Industrial, Specialty & Shielding Gases Market
growth in the forecast period, 2025-2029
According to TechSci Research report, “India
Industrial, Specialty & Shielding Gases Market- By
Region, Competition, Forecast and Opportunities, 2019-2029F”, the India
Industrial, Specialty & Shielding Gases Market stood at USD1.58 billion in
2023 and is anticipated to grow with a CAGR of 5.12% in the forecast period,
2025-2029. Government initiatives aimed at the industrial, specialty, and shielding gases sector have created favorable market conditions for the India Industrial, Specialty & Shielding Gases Market. Various factors contribute to the growth of these gases products. Under the Department of Heavy Industry, the Indian government has recently introduced a comprehensive scheme named the "Enhancement of Competitiveness in the Indian Capital Goods Sector." This strategic initiative aims to enhance productivity and competitiveness in the Indian capital goods sector, with a specific focus on the industrial gases industry, which plays a crucial role in supporting various industrial operations.
The government has undertaken initiatives to improve the country's overall infrastructure, resulting in significant enhancements to the construction sector. These efforts have positively impacted the market for welding and shielding gases, which are extensively used in various construction-related activities such as welding, cutting, and shielding. These gases contribute to the overall growth and development of the construction industry in India.
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In recent years, the rise in research and development (R&D) efforts has led to the creation of highly innovative and precisely formulated specialty gases. These advanced formulations cater to the diverse requirements of industries like metallurgy, manufacturing, and healthcare. Through continuous R&D initiatives, these gases have evolved consistently, broadening their application scope and enabling new opportunities for progress in these sectors. The persistent dedication to pushing the limits of gas technology via research and development has undoubtedly played a significant role in the notable advancements and progress observed in these industries.
The India Industrial, Specialty & Shielding Gases
Market is segmented into application, mode of distribution, regional
distribution, and company.
Based on its mode of distribution, the bulk segment
held the largest market share in the forecast period. Bulk distribution is not
only more cost-efficient but also provides significant advantages when dealing
with high volumes. By transporting large quantities of gas in bulk containers
or through pipelines, industries can greatly reduce the cost per unit. This
makes bulk distribution an economically viable and attractive option for
various sectors, enabling them to optimize their operations and maximize their
profits.
Based on region, West India segment is expected to
grow during the forecast period.
In recent years, West India has witnessed a notable
surge in infrastructural development, with cities like Mumbai and Pune at the
forefront of this transformation. The rapid growth in construction activities
has consequently resulted in a heightened demand for specialized gases,
particularly welding gases, which play a crucial role in various construction
processes. As these cities continue to evolve and expand, the need for these
gases is projected to further escalate, creating new opportunities and challenges
for the construction industry in the region.
Major companies operating in India Industrial,
Specialty & Shielding Gases Market are:
- Praxair India Private Limited
- Linde India Limited
- Bhuruka Gases Limited
- Bombay Oxygen Corporation
- SICGIL INDIA LIMITED
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“Growing application of industrial, specialty &
shielding gases in various end user industries are key drivers of the
industrial, specialty & shielding gases market. Growth in competitive
landscape and presence of well-established companies in the market who are
dedicated to enhance their productivity of industrial, specialty &
shielding gases with every passing year are anticipated to register an
impressive growth to India Industrial, Specialty & Shielding Gases Market
in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“India Industrial, Specialty & Shielding Gases
Market By Application (Metallurgy, Refinery, Chemical
& Petrochemical, Others), By
Mode of Distribution (Tonnage, Bulk, Packaged), By Region, By Competition Forecast &
Opportunities, 2019-2029”, has evaluated the future growth potential of India
Industrial, Specialty & Shielding Gases Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Industrial, Specialty & Shielding Gases Market.
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