Asia Pacific Compressed Gas Market Size, Share, and COVID-19 Impact Analysis, By Product (Nitrogen, Oxygen, Hydrogen, and Carbon Dioxide), By End-User (Infrastructure & Utilities, Energy & Mining, Healthcare & Pharmaceuticals, Manufacturing, Research & Technology, and Others), and by Asia Pacific Compressed Gas Market Insights, Industry Trend, Forecasts to 2033

Asia Pacific Compressed Gas Market Insights Forecasts to 2033

• The Asia Pacific Compressed Gas Market Size was valued at USD 1,522.9 Million in 2023.
• The Market Size is growing at a CAGR of 6.29% from 2023 to 2033
• The Asia Pacific Compressed Gas Market Size is expected to reach USD 2,804.1 Million by 2033

The Asia Pacific Compressed Gas Market Size is anticipated to exceed USD 2,804.1 Million by 2033, growing at a CAGR of 6.29% from 2023 to 2033.

Market Overview

The Asia Pacific compressed gas market encompasses the production, distribution, and consumption of gases that are compressed for use in a variety of industries, including manufacturing, healthcare, food and beverage, automotive, and energy. Compressed gases such as oxygen, nitrogen, carbon dioxide, hydrogen, and argon are crucial for processes like welding, medical applications, refrigeration, and as fuel in industrial applications. The market is driven by rapid industrialization, urbanization, and the increasing demand for compressed gases in the healthcare sector, particularly for medical oxygen in hospitals and healthcare facilities. The food and beverage industry also contributes to market growth, with compressed gases used for carbonation, refrigeration, and packaging purposes. Additionally, the growing adoption of compressed natural gas (CNG) as an alternative fuel source in the automotive sector is accelerating demand. Government initiatives focusing on sustainable energy solutions, regulatory policies for environmental protection, and investments in infrastructure development are significant drivers in the region. The Asia Pacific Clean Energy Initiative and low-carbon technologies are encouraging the use of compressed gases such as hydrogen for energy applications. Moreover, regulations by the Food and Drug Administration (FDA) and local bodies ensure the safe production and handling of compressed gases, shaping the market landscape in the region.

Report Coverage

This research report categorizes the market for the Asia Pacific compressed gas market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Asia Pacific compressed gas market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Asia Pacific compressed gas market.

Driving Factors

The Asia Pacific compressed gas market is driven by rapid industrialization and urbanization, particularly in emerging economies, which increases the demand for compressed gases in the manufacturing and energy sectors. The growing adoption of compressed natural gas (CNG) as an alternative fuel in the automotive industry is a key growth factor. Additionally, rising demand for medical gases, such as oxygen in healthcare facilities, supports market expansion. The food and beverage sector also contributes through the use of gases in packaging, refrigeration, and carbonation. Government initiatives promoting clean energy, sustainability, and low-carbon technologies further bolster market growth.

Restraining Factors

High infrastructure and distribution costs, along with stringent safety regulations concerning the storage and transportation of compressed gases, pose challenges to market growth. Additionally, fluctuations in raw material prices and competition from alternative energy sources limit market expansion.

Market Segmentation

The Asia Pacific compressed gas market share is classified into product and end-use.

• The nitrogen segment is expected to hold the largest market share through the forecast period.   

The Asia Pacific compressed gas market is segmented by product into nitrogen, oxygen, hydrogen, and carbon dioxide. Among these, the nitrogen segment is expected to hold the largest market share through the forecast period. This dominance is attributed to the widespread use of nitrogen in various industries, including manufacturing, electronics, food packaging, and pharmaceuticals. Nitrogen is crucial for inerting, refrigeration, and blanketing processes, which are essential in maintaining safety and quality standards across sectors.

• The manufacturing segment dominates the market with the largest market share over the predicted period.

The Asia Pacific compressed gas market is segmented by end-user into infrastructure & utilities, energy & mining, healthcare & pharmaceuticals, manufacturing, research & technology, and others. Among these, the manufacturing segment dominates the market with the largest market share over the predicted period. This dominance is driven by the extensive use of compressed gases, such as nitrogen, oxygen, and carbon dioxide, in a wide range of manufacturing processes, including welding, metal production, chemical processing, and assembly lines. The region's rapid industrialization, particularly in countries like China and India, contributes significantly to the demand for compressed gases in manufacturing operations.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Asia Pacific compressed gas market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Western International Gas & Cylinders, Inc.
• Keen Compressed Gas Co.
• Airgas
• Superior Products, LLC
• A-L Compressed Gas
• Air Liquide
• Air Products Inc.
• INOX-Air Products Inc.
• Iwatani Corp.
• Linde plc
• Messer
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-added resellers (VARs)

Recent Developments

• In February 2025, Bharat Petroleum Corporation Limited (BPCL), one of India's leading oil and gas companies, is making significant strides in expanding its natural gas business. The company has announced plans to establish 10 new LNG (liquefied natural gas) stations along key highways and has signed a five-year LNG supply agreement with Abu Dhabi National Oil Company (ADNOC).

Market Segment

This study forecasts revenue at Asia Pacific, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Asia Pacific compressed gas market based on the below-mentioned segments:

Asia Pacific Compressed Gas Market, By Product

• Nitrogen
• Oxygen
• Hydrogen
• Carbon Dioxide

Asia Pacific Compressed Gas Market, By End-User

• Infrastructure & Utilities
• Energy & Mining
• Healthcare & Pharmaceuticals
• Manufacturing
• Research & Technology
• Others