Executive Summary:

The oxygen market is expected to grow at a CAGR of 7.8% during the forecast period of 2021-2026. The market is driven by the growing demand for oxygen in the healthcare and industrial sectors, the increasing use of oxygen in the manufacturing of steel and glass, and the rising demand for oxygen in the chemical and petrochemical industries. The market is also being driven by the increasing demand for oxygen concentrators and other medical oxygen equipment due to the COVID-19 pandemic.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights:

• The healthcare sector is the largest consumer of oxygen, accounting for around 60% of the market share.
• The industrial sector is the second-largest consumer of oxygen, accounting for around 30% of the market share.
• The Asia-Pacific region is expected to dominate the market, driven by the growing demand for oxygen in countries such as China and India.
• The oxygen market is highly competitive, with major players including Air Liquide, Linde plc, Air Products and Chemicals, Inc., and Praxair Technology, Inc.

Market Drivers:

• Growing demand for oxygen in the healthcare sector
• Increasing use of oxygen in the manufacturing of steel and glass
• Rising demand for oxygen in the chemical and petrochemical industries
• Increasing demand for oxygen concentrators and other medical oxygen equipment due to the COVID-19 pandemic

Market Restraints:

• Fluctuations in the prices of raw materials used in the production of oxygen
• Stringent regulations on the production and transportation of oxygen

Market Opportunities:

• Growing demand for oxygen in emerging economies
• Increasing investments in research and development to improve the production and transportation of oxygen
• Increasing demand for oxygen in the water treatment industry

Market Dynamics:

The oxygen market is expected to experience significant growth in the coming years, driven by the increasing demand for oxygen in the healthcare and industrial sectors. The market is also being driven by the rising demand for oxygen concentrators and other medical oxygen equipment due to the COVID-19 pandemic. However, the market is also facing several challenges, such as fluctuations in the prices of raw materials used in the production of oxygen and stringent regulations on the production and transportation of oxygen.

Regional Analysis:

The Asia-Pacific region is expected to dominate the oxygen market, driven by the growing demand for oxygen in countries such as China and India. The region is also expected to see significant growth in the industrial sector, which will further drive demand for oxygen. North America and Europe are also expected to see significant growth in the oxygen market, driven by the growing demand for oxygen in the healthcare sector and the increasing use of oxygen in the manufacturing of steel and glass.

Competitive Landscape:

Leading Companies in the Oxygen Market:

1. Linde plc
2. Air Liquide S.A.
3. Air Products and Chemicals, Inc.
4. Taiyo Nippon Sanso Corporation
5. Praxair, Inc.
6. Messer Group GmbH
7. SOL Group
8. Yingde Gases Group Company Limited
9. GULF Cryo
10. Matheson Tri-Gas, Inc.

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation:

The oxygen market can be segmented based on product type, end-use industry, and geography. Based on product type, the market can be segmented into compressed oxygen gas, oxygen liquid, and oxygen concentrators. Based on end-use industry, the market can be segmented into healthcare, industrial, chemical and petrochemical, and water treatment. Geographically, the market can be segmented into North America, Europe, Asia-Pacific, and Rest of the World.

Category-wise Insights:

The healthcare sector is the largest consumer of oxygen, accounting for around 60% of the market share. Within the healthcare sector, the use of oxygen is critical in emergency and intensive care settings, as well as for patients with chronic obstructive pulmonary disease (COPD) and other respiratory conditions. The industrial sector is the second-largest consumer of oxygen, accounting for around 30% of the market share. Within the industrial sector, oxygen is used in a wide range of applications, including steel and glass manufacturing, chemical and petrochemical industries, and wastewater treatment.

Key Benefits for Industry Participants and Stakeholders:

• Opportunity to expand their product offerings and increase their market share
• Growing demand for oxygen in various industries, providing new growth opportunities
• Increasing investments in research and development to improve the production and transportation of oxygen

SWOT Analysis:

Strengths:

• Essential gas for various medical and industrial applications
• Increasing demand for oxygen in various industries
• Growing investments in research and development

Weaknesses:

• Fluctuations in the prices of raw materials used in the production of oxygen
• Stringent regulations on the production and transportation of oxygen

Opportunities:

• Growing demand for oxygen in emerging economies
• Increasing investments in research and development to improve the production and transportation of oxygen
• Increasing demand for oxygen in the water treatment industry

Threats:

• Intense competition among market players
• Availability of substitutes in some industries

Market Key Trends:

• Increasing use of oxygen concentrators and other medical oxygen equipment due to the COVID-19 pandemic
• Growing demand for oxygen in the water treatment industry
• Increasing investments in research and development to improve the production and transportation of oxygen

COVID-19 Impact:

The COVID-19 pandemic has had a significant impact on the oxygen market, with the growing demand for oxygen concentrators and other medical oxygen equipment. This has led to a shortage of oxygen in some regions, particularly in developing countries with limited healthcare infrastructure. However, the pandemic has also led to increased investments in research and development to improve the production and transportation of oxygen, which is expected to drive growth in the market in the coming years.

Key Industry Developments:

• In 2020, Air Liquide launched its ALPHAGAZ 1 oxygen cylinder in the European market.
• In 2020, Linde plc announced plans to build a new air separation unit in China to meet growing demand for oxygen in the healthcare and industrial sectors.
• In 2021, Air Products and Chemicals, Inc. announced plans to build a new air separation unit in India to meet growing demand for oxygen in the healthcare and industrial sectors.

Analyst Suggestions:

To capitalize on the growing demand for oxygen in various industries, industry participants and stakeholders should focus on expanding their product offerings and increasing their investments in research and development. They should also focus on improving the production and transportation of oxygen to ensure a steady supply in the market.

Future Outlook:

The global oxygen market is expected to grow at a CAGR of 7.8% during the forecast period of 2021-2026, driven by the growing demand for oxygen in the healthcare and industrial sectors, the increasing use of oxygen in the manufacturing of steel and glass, and the rising demand for oxygen in the chemical and petrochemical industries. The market is also being driven by the increasing demand for oxygen concentrators and other medical oxygen equipment due to the COVID-19 pandemic.

Conclusion:

The oxygen market is a vital component of various industries, including healthcare, industrial, chemical and petrochemical, and water treatment. The market is expected to see significant growth in the coming years, driven by the growing demand for oxygen in these industries and the increasing investments in research and development to improve the production and transportation of oxygen. Industry participants and stakeholders should focus on expanding their product offerings and increasing their investments in research and development to capitalize on the growing demand for oxygen in the market.