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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