Industrial Gas Cylinders Market Analysis | 2025-2031

Market Insights

The industrial gas cylinders market was estimated at US$ 687 million in 2024 and is likely to grow at a CAGR of 4.2% during 2025-2031 to reach US$ 928 million in 2031.

Want to know more about the market scope? Register Here.

Market Dynamics

Introduction

The industrial gas cylinders market is steadily growing, fueled by the rising demand for industrial gases across industries like manufacturing, energy, and processing. These cylinders play a vital role in storing and transporting gases such as oxygen, nitrogen, hydrogen, argon, and carbon dioxide, which are essential for various industrial processes. The increasing use of high-pressure gas cylinders in market like welding, cutting, and food processing is boosting market growth. Industrial gases are compressed into a cylinder at pressures of up to 300 bar as standard. These cylinders are made up of high-strength steel or aluminum that is capable of withstanding high pressures. Furthermore, strict regulatory guidelines surrounding the handling and transportation of industrial gases are pushing companies to prioritize safety compliance and introduce more durable and efficient cylinder designs. With the ongoing expansion of industrial operations, the demand for reliable and safe gas cylinders is projected to increase significantly in the coming years.

Segment Analysis

By Gas Type

“Oxygen is anticipated to drive demand for the industrial gas cylinders, whereas nitrogen is expected to experience the fastest growth in the coming years.”

The market is segmented into oxygen, nitrogen, carbon dioxide, helium, argon, acetylene, and other gases. Oxygen gas cylinders lead the market due to their widespread applications in chemical manufacturing, steel production, aquaculture, and water treatment. Their crucial role in oxidation reactions and live seafood transportation further strengthens their dominance. However, nitrogen gas cylinders are expected to grow at the fastest rate, fueled by the rapid expansion of the pharmaceutical and semiconductor industries, where nitrogen is essential for preserving product integrity and advanced manufacturing processes.

To get the full scope of the report, Register Here

Regional Analysis

"Asia-Pacific is expected to remain the dominant as well as the fastest growing region for the industrial gas cylinders market."

Asia-Pacific led the industrial gas cylinders market and is also expected to experience the fastest growth during the forecast period, mainly due to the rapid expansion of the electronics, chemical, and petrochemical industries in the region. China and India are projected to be the key growth drivers, fueled by rapid industrialization fueling demand for industrial gases, and expanding manufacturing industries.

Know the high-growth countries in this report. Register Here

Key Players

The supply chain of this market comprises raw material suppliers, cylinder manufacturers, and industrial gas companies. The following are the key players in the industrial gas cylinders market.

Here is the list of the Top Players (Based on Dominance)

• TriMas Corporation 
• Cylinders Holding Group
• Everest Kanto Cylinder Ltd.
• Luxfer Holdings PLC
• Shanghai Bene High Pressure Container Co., Ltd
• Worthington Industries, Inc.
• Beijing Tianhai Industry Co., Ltd. 
• Sinoma Science & Technology Co., Ltd.
• Rama Cylinder Pvt Ltd
• Tenaris S.A.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Please write to us at sales@stratviewresearch.com

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s industrial gas cylinders market realities and future market possibilities for the forecast period. 
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruit available in the market and formulating growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. 
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The industrial gas cylinders market is segmented into the following categories:

By Gas Type

• Oxygen
• Nitrogen
• Carbon Dioxide
• Helium
• Argon
• Acetylene
• Others

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia and Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and Rest of Asia-Pacific
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.