Global Industrial Gases Market for Metals and Metal Fabrication Industry Through 2021, Says Technavio

LONDON–(BUSINESS WIRE)–#Research–The global
industrial gases market for the metals and metal fabrication industry
is expected to grow at a CAGR of more than 6% during the forecast
period, according to Technavio’s latest market research.

In this market research report, Technavio
covers the market outlook and growth prospects of the global
industrial gases market for the metals and metal fabrication industry
for 2017-2021. The market is further categorized into four end-user
segments, including metal manufacturing, automobile, rail and
shipping, heavy industries, and aerospace and defense, of
which the metal manufacturing segment dominated the market with more
than 35% of the overall market share in 2016.

“The industrial gases market is growing due to economic growth, rise
in energy demand, climate control initiatives, and growing demand for
healthcare equipment. The rapid expansion of infrastructure in APAC has
increased the demand for steel,” says Mahitha Mallishetty, a lead industrial
gases research expert from Technavio.

Technavio’s research analysts segment the global industrial gases market
for the metals and metal fabrication industry into the following regions:

• APAC
• Europe
• North America
• ROW

Industrial gases market for metals and metal fabrication industry in
APAC

The growing demand for steel, fostered by the rapid growth in
infrastructure development, is driving the market growth in APAC. In
addition, the increasing need for alternative sources of energy is
fueling the expansion of gasification plants and gas to liquid, coal to
liquid, and coal to chemical plants that consume substantial amounts of
oxygen is driving the consumption of industrial gases.

With significant economic growth, the major end-user industries of
industrial gases such as the automotive, construction, aerospace and
defense, electrical equipment, and industrial machinery have been
flourishing, leading to the increased demand for welding gases required
in the manufacturing processes.

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Industrial gases market for metals and metal fabrication industry in
Europe

Germany, the UK, and Italy are the primary consumers of metal
fabrication services in the region due to the growing investments in the
automobile and aerospace industries. The growth of the global commercial
aviation sector has increased orders for aircraft from European aircraft
manufacturers such as Airbus, France. This will lead to an increase in
the production capacity of these manufacturing facilities, which will
foster the metal and metal fabrication market, thereby fostering the
market growth during the forecast period.

Industrial gases market for metals and metal fabrication industry in
North America

The US is the major contributor to the market in the region. This is
attributable to the presence of many manufacturing facilities. Recently,
the manufacturers in the US are shifting their facilities to developing
economies due to the economic downturn in North America. However, the
country is witnessing a significant resurgence in its construction and
automotive sectors.

“The US is a global leader in the field of automobile technology. The
country boasts of a huge consumer base with high disposable incomes,
which drives the sales of automobiles, thereby forcing OEMs to expand
their manufacturing capabilities,” says Mahitha.

Industrial gases market for metals and metal fabrication industry in
ROW

The growth in the construction activities in the Middle-East and
manufacturing industries in ROW are the major factors fostering the
market growth in the region. Increased expenditure on mega
infrastructure and expansion projects are increasing the demand for
industrial gases in the medical, industrial, residential, and commercial
applications.

The top vendors in the market as highlighted in this market research
analysis are:

• Air Liquide
• Air Products and Chemicals
• Linde Group
• Messer Group
• Praxair

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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