India Industrial Gases Market Research Report: Forecast (2026-2032)

India Industrial Gases Market - By Gas - (Nitrogen, Oxygen, Carbon dioxide, Argon, Hydrogen, Helium, Acetylene, Others), By Application (Combustion and process oxygen, Welding and metal fabrication,... ... d metal fabrication, Inerting blanketing and heat treating, Cryogenics and liquefaction, Chemical synthesis and hydrogenation, Purging and purifications, Analytical and calibration), By Supply Mode (Packaged Gases Supply (Merchant Sales), Bulk or Liquid Gases Supply, Onsite Generation or Pipeline Supply, Gases-as-a-Service Model), By End-User Industry (Oil and Gases, Petrochemicals and Chemicals, Power and Energy, Mining, Steelmaking, Metals, Healthcare, Food and Beverages, Fertilizers, Others), Read more

  • Energy
  • Nov 2025
  • 135
  • PDF, Excel, PPT

India Industrial Gases Market Size: Forecast (2026-2032) 

The India Industrial Gases Market size is valued at around USD 1.48 billion in 2025 and is projected to reach USD 2.19 billion by 2032. Along with this, the market is estimated to grow at a CAGR of around 5.76% during the forecast period, i.e., 2026-32. India’s Industrial Gases industry is poised for robust growth, driven by large-scale manufacturing growth across steel, chemicals, refining, and energy transitions.

For instance, the outlook is strengthened by new green-hydrogen investments of BPCL’s 50:50 JV with Sembcorp, announced in April 2025 aims to develop large-scale hydrogen and renewable-energy projects, including green ammonia and refinery decarbonization. At the same time, its 5 MW green-hydrogen unit at the Bina Refinery, commissioned in 2025, is expected to produce nearly 780 tonnes of hydrogen per year while reducing CO₂ emissions by about 9,000 tonnes annually, boosting demand for oxygen required in electrolyzer-based hydrogen production.

Major steel capacity additions further lift industrial-gas requirements. For example, JSW Steel’s expansion roadmap raises crude steel output to 43.5 mtpa by 2027 and 51.5 mtpa by 2031, increasing consumption of oxygen in BOFs and auxiliary processes, and elevating nitrogen and argon demand for specialty grades. Its commitment to cutting CO₂ intensity by 42% by 2030 also supports future oxygen-linked hydrogen and cleaner-process applications.

Additionally, policy momentum is creating further demand for industrial gases. For instance, under the India Semiconductor Mission (ISM), India has sanctioned major fab and advanced packaging investments in states such as Gujarat and Karnataka, with facilities in Dholera and Sanand focused on high-purity manufacturing. These fabs require ultra-high-purity oxygen, nitrogen, argon, and specialty gases for wafer fabrication, oxidation, etching, and packaging.

India’s accelerating push toward large-scale steelmaking, clean-energy transitions, and semiconductor manufacturing is structurally expanding long-term demand for industrial gases. As hydrogen, electronics, and high-value metallurgy mature through 2026–2032, the need for high-purity oxygen, nitrogen, argon, and specialty gases will deepen across strategic sectors. Together, these investments position the industrial gases sector for sustained multi-year growth with higher capacity deployment, long-term offtake contracts, and increased on-site gas infrastructure nationwide.

India Industrial Gases Market Recent Developments:

  • August 2025: Deendayal Port Authority (DPA) has commissioned India’s first 1 MW Make-in-India green hydrogen plant at Kandla, built in just four months using an indigenous electrolyzer developed by L&T. The facility is expected to produce around 140 tonnes of green hydrogen annually, initially powering 11 hydrogen-fuelled buses and port street lighting. DPA also plans to scale the project to 10 MW, supporting the National Green Hydrogen Mission and advancing cleaner, sustainable port operations. 
  • January 2025: INOX Air Products commissioned a 2,150 TPD (tons per day) Air Separation Unit at SAIL’s Bokaro Steel Plant in January 2025, investing USD 87 million. The plant will produce 2,000 TPD of gaseous oxygen, 150 TPD of liquid oxygen, 1,200 TPD of nitrogen, and 100 TPD of argon. This addition boosts INOX’s total gas production at Bokaro to over 6,300 TPD across all gases.

India Industrial Gases Market Scope:

 Category  Segments
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 Packaged Gases Supply (Merchant Sales), Bulk or Liquid Gases Supply, Onsite Generation or Pipeline Supply, Gases-as-a-Service Model),
By End-User Industry Oil and Gases, Petrochemicals and Chemicals, Power and Energy, Mining, Steelmaking, Metals, Healthcare, Food and Beverages, Fertilizers, Others),

India Industrial Gases Market Drivers:

Increasing Oxygen Demand from Expanding Steel Industry

India’s accelerated steel-capacity additions and ongoing plant upgrades continue to be the most significant contributors to rising oxygen demand. The expansion of integrated steel facilities and the gradual shift toward EAF-based production require stable, high-volume oxygen and argon flows.

For instance, Linde announced in early 2024 that it would build a new 1,000-ton-per-day air-separation unit (ASU) at Steel Authority of India Limited (SAIL)’s Rourkela plant to support the company’s modernization drive. This large-scale investment ensures a reliable, long-term oxygen supply for both SAIL’s production and the broader merchant gas market.

Over the coming years, suppliers are expected to deploy additional high-capacity ASUs in tandem with India’s new steelmaking lines, especially within rapidly expanding industrial corridors. Companies are also assessing investments in low-carbon oxygen generation technologies and scaling up their cryogenic logistics fleets.

For example, the Ellenbarrie Industrial Gases has outlined a forward expansion plan that includes the commissioning of a 320-TPD air separation unit in Eastern India by March 2026. The company has also earmarked approximately USD 47.9 million in capital expenditure over the following 12–18 months, extending into 2026 to develop multiple ASU facilities across key regional clusters.

Collectively, these capacity-linked investments and logistics upgrades reinforce a structurally rising demand environment, firmly positioning industrial gases as essential enabling inputs for India’s next decade of steel and manufacturing growth.

Rising Healthcare and Medical Applications

The expanding public-health infrastructure is driving demand for medical-grade oxygen. One of the most significant developments is the operationalization of 175,418 Ayushman Arogya Mandirs (AAMs) as of 10 December 2024, created by upgrading sub-health and primary health centers. These facilities broaden access to preventive, curative, and rehabilitative services, naturally increasing requirements for on-site oxygen availability, PSA plants, and reliable backup systems.

Furthermore, the Ayushman Bharat–PM-JAY scheme has further amplified the coverage of healthcare services. Offering up to USD 6,000 annual coverage per family, the Programme recorded 8.39 crore cumulative hospital admissions by November 2024. This high volume of admissions sustains continuous oxygen demand across tertiary hospitals, district hospitals, and emergency-care units through increased usage of liquid oxygen, cryogenic cylinders, and medical-gas pipeline systems.

Meanwhile, in March 2025, the Ministry of Health, in collaboration with AIIMS New Delhi, issued the National Guidelines for Medical Oxygen Management. These guidelines formalize mandatory oxygen-infrastructure standards requiring all major healthcare institutions to maintain primary, secondary, and reserve oxygen systems, including automated backup switching and minimum emergency cylinder reserves. This regulatory framework ensures an uninterrupted oxygen supply and elevates baseline consumption across facilities.

Collectively, these initiatives embed oxygen as a foundational element of India’s healthcare delivery system, structurally increasing year-round demand rather than event-driven consumption. With mandatory infrastructure standards and expanded care networks, medical oxygen is positioned to remain one of the most stable and rapidly growing demand pillars for the industrial gases market.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. India Industrial Gases Market Policies, Regulations, and Standards
  5. India Industrial Gases Market Production Capabilities
    1. Year on Year Annual Production Capacity
    2. Year on Year Annual Production
    3. Competitor Wise Production Capabilities
  6. India Industrial Gases Market Supply Chain Analysis
    1. Overall Supply Chain & Margin Analysis
  7. India Industrial Gases Market Trends & Developments
  8. India Industrial Gases Market Dynamics
    1. Growth Drivers
    2. Challenges
  9. India Industrial Gases Market Hotspot & Opportunities
  10. India Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Gas -Market Size & Forecast 2022-2032, USD Million
        1. Nitrogen
        2. Oxygen
        3. Carbon dioxide
        4. Argon
        5. Hydrogen
        6. Helium
        7. Acetylene
        8. Others
      2. By Application- Market Size & Forecast 2022-2032, USD Million
        1. Combustion and process oxygen
        2. Welding and metal fabrication
        3. Inerting blanketing and heat treating
        4. Cryogenics and liquefaction
        5. Chemical synthesis and hydrogenation
        6. Purging and purifications
        7. Analytical and calibration
      3. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
        1. Packaged Gases Supply (Merchant Sales)
        2. Bulk or Liquid Gases Supply
        3. Onsite Generation or Pipeline Supply
        4. Gases-as-a-Service Model
      4. By End-User Industry- Market Size & Forecast 2022-2032, USD Million
        1. Oil and Gases
        2. Petrochemicals and Chemicals
        3. Power and Energy
        4. Mining, Steelmaking, Metals
        5. Healthcare
        6. Food and Beverages
        7. Fertilizers
        8. Others
      5. By Region
        1. North
        2. South
        3. West
        4. East
      6. By Company
        1. Company Revenue Shares
        2. Competitor Characteristics
  11. India Nitrogen Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Application - Market Size & Forecast 2022-2032, USD Million
      2. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      3. By End User- Market Size & Forecast 2022-2032, USD Million
  12. India Oxygen Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Application - Market Size & Forecast 2022-2032, USD Million
      2. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      3. By End User- Market Size & Forecast 2022-2032, USD Million
  13. India Carbon Dioxide Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Application - Market Size & Forecast 2022-2032, USD Million
      2. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      3. By End User- Market Size & Forecast 2022-2032, USD Million
  14. India Argon Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Application - Market Size & Forecast 2022-2032, USD Million
      2. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      3. By End User- Market Size & Forecast 2022-2032, USD Million
  15. India Hydrogen Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Application - Market Size & Forecast 2022-2032, USD Million
      2. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      3. By End User- Market Size & Forecast 2022-2032, USD Million
  16. India Helium Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Application - Market Size & Forecast 2022-2032, USD Million
      2. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      3. By End User- Market Size & Forecast 2022-2032, USD Million
  17. India Acetylene Industrial Gases Market Outlook, 2022-2032
    1. Market Size & Outlook
      1. By Revenues (USD Million)
    2. Market Share & Forecast
      1. By Application - Market Size & Forecast 2022-2032, USD Million
      2. By Supply Mode - Market Size & Forecast 2022-2032, USD Million
      3. By End User- Market Size & Forecast 2022-2032, USD Million
  18. India Industrial Gases Market Key Strategic Imperatives for Growth & Innovation
  19. Competition Outlook
    1.  Company Profiles
      1. INOX Air Products Pvt. Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Linde India Limited
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Air Liquide India Holding Pvt Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Messer India Pvt Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Goyal MG Gases Pvt Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Ellenbarrie Industrial Gases Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Air Water India Pvt. Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Pavan Industrial Gas Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Universal Air & Gas Pvt. Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Bhoruka Specialty Gases
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Others (Emerging Startups & MSMEs)
  20. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

We’d love to understand what matters most to you.

Your data is 100% confidential & secure

By submitting, you agree to our Terms and Privacy Policy .