Oxygen & Hydrogen Gas Manufacturing in the US - Industry Market Research Report

No air: As foreign manufacturers ramp up production, industry revenue will likely drop

Revenue has been volatile due to fluctuating commodity prices and changes in downstream industrial activity. Despite economic activity halting amid the COVID-19 pandemic, the industry has experienced revenue growth because of sustained product demand, especially from the healthcare sector. Also, a boost in demand for industrial gases to meet rising energy needs has assisted in industry growth. Industry-wide revenue has been increasing at a CAGR of 8.8% over the past five years, reaching an estimated $16.2 billion in 2023, despite a projected 3.5% slump in 2023.

This industry manufactures various forms of organic and inorganic industrial gases, including compressed, liquid and solid (i.e., dry ice). Examples of industrial gases include oxygen, hydrogen, helium, nitrogen and carbon dioxide supplied to various customers, including industrial and medical users. Key inputs for the industry include electricity and natural gas.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.