The global industrial gases market has increased during the year 2014- 15, and projections are made that the market would rise in the next five years i. e. 2016-2020 at a rapid pace. Major factors contributing in the growth of the market are rising demand from major industries such as oil and gas, increasing application of industrial gases, growing demand of liquefied gas, and growing urbanization etc.
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Rapid industrialization in emerging economies such as India and China, rising use of industrial gases in solar PV industry, and emerging innovative technologies are expected to fuel the market demand in the forecasted period. In spite of high growth, market is still facing certain challenges that are hampering the growth of the market. Challenges encountered by the market are lack of quality and cost of power, high distribution cost, and stringent government and environmental regulations etc.
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