Industrial Gases Market in India to Grow at CAGR 12% till 2026
High demand from end user industries
coupled with robust capacity expansions of major manufacturers to drive India
industrial gases market through 2026
According to TechSci Research report “India
Industrial, Specialty & Shielding Gases Market
By Application, Mode of Distribution & Region, Forecast &
Opportunities, 2012-2026”, industrial gases market in India is projected to grow at a
CAGR of more than 12% during 2017-2026. Industrial gases are specifically
manufactured for industrial applications such as metallurgy, refinery, chemical
& petrochemicals, etc. Further, increasing development of steel production
plants across the country has driven demand for on-site industrial gases tonnage
plants. In 2015-2016, healthcare sector in the country registered a Y-o-Y growth
of more than 15%. Anticipated growth in the country’s healthcare sector is
anticipated to boost demand for medical services in the country through 2026,
which is projected to boost consumption of high purity medical gases. This is
expected to augur well for India industrial gases market through 2026.
Browse 31 market data Tables and 104 Figures
spread through 278 Pages and an in-depth TOC on "India Industrial Gases Market"
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Rapid pace of industrialization and various
new project developments pertaining to steel, chemical, refining and other
industries in India are forecast to increase demand for industrial gases in the
coming years. Major steel producers such as SAIL, Tata Steel and JSW Steel, among
others are focusing on capacity expansions and this is anticipated to increase
consumption of industrial gases over the course of next 5-10 years. Further,
robust anticipated growth in the chemical industry in India from about USD140
billion in 2015 to USD220 billion by 2020, is also expected to drive demand for
industrial gases in the country in the coming years.
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“Growing oil & gas
exploration, production and processing activities in India is anticipated to
positively influence demand for industrial gases in India. Hydrogen and oxygen are
the major industrial gases used in refineries for process intensification.
Moreover, India is
emerging as a key export market for food
products, due to growing demand for processed & frozen food products from
Middle East, Europe and other Asian countries, and this is expected to boost
demand for dry ice and nitrogen in India during the forecast period. Further,
increasing installation of effluent
treatment plants to
control industrial water pollution and promote recycling and reuse of water is
anticipated to augur well for India industrial gases market through 2026.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India
Industrial, Specialty & Shielding Gases Market By Application, Mode of
Distribution & Region, Forecast & Opportunities, 2012-2026” has evaluated India industrial gases market and has provided
the statistics and information on market structure, industry behavior and trends.
The report includes market projections and demand forecasting. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. Besides, the report also identifies and analyzes
emerging trends along with essential drivers, challenges and opportunities
present in India industrial gases market.
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