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Middle East Industrial Gas Market Analysis, Segments, Size, Share, Industry Growth and Recent Trends by Forecast to 2027

Author : Ravi Chawat | Published Date : 2022-06-27 

Middle East Industrial Gas Market Analysis, Segments, Size, Share, Industry Growth and Recent Trends by Forecast to 2027

The Middle East industrial gas market is estimated to observe exponential growth by 2027 primarily driven by the increased adoption of industrial gases across the region. The Middle East industrial gas market has been segmented on the basis of product type, application, supply mode, and country.

In terms of product type, the market has further been bifurcated into nitrogen, carbon dioxide, oxygen, hydrogen, argon, helium, and specialty gases.

The hydrogen industrial gas sub-segment is expected to reach USD 482.3 million by 2027. Increasing focus of manufacturers on strengthening the regional hydrogen economy is expediting market adoption, thereby facilitating segmental growth in the coming years.

For instance, in January 2021, three Abu Dhabi-based companies Mubadala Investment Company (Mubadala), ADQ, and The Abu Dhabi National Oil Company (ADNOC) founded the Abu Dhabi Hydrogen Alliance.

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The three partners inked the agreement to establish Abu Dhabi as a reliable supplier of low-carbon blue and green hydrogen in emerging international markets. The partnership is expected to develop a robust green hydrogen economy in the United Arab Emirates (UAE).

The Alliance has been created with the aim to formulate a plan to boost hydrogen adoption and usage in key applications, such as utility, industrial, and mobility, across the UAE through their own companies and jointly with global players.

In another instance, in January 2021, Mubadala also signed an agreement with energy company Siemens Energy to form a strategic partnership to promote investment and development of advanced technology, production of green hydrogen and synthetic fuel, and manufacture of equipment.

Meanwhile, the helium industrial gas sub-segment is estimated to reach USD 47.61 million by 2027, growing at a CAGR of 6.6% throughout the forecast period.

Based on application, the market has been divided into manufacturing, energy, metallurgy, healthcare, chemicals, and other.

The metallurgy sub-segment is expected to reach USD 667.9 million by 2027 and is anticipated to foster industry outlook through the assessment timeframe. Advancements in metallurgical technologies are impelling market demand in the region and is likely to boost segmental growth in the coming years.

From the supply mode perspective, the market has been categorized into packaged, bulk, and on-site. The packaged supply mode sub-segment is estimated to expand at a CAGR of 6.5% over the forecast period.

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Based on country, the Middle East industrial gas market has been divided into Saudi Arabia, Qatar, UAE, RoME, Oman, Bahrain, and Kuwait.

The Qatar industrial gas market is anticipated to grow at a sizable CAGR of 6.8% over the forecast period. The Oman industrial gas market is expected to deliver a 7.2% CAGR through the analysis timeframe to reach a valuation of USD 143.1 million by 2027.

The Bahrain industrial gas market is estimated to be valued at USD 73.44 million by 2027, exhibiting steady growth through the forecast period. The RoME is speculated to deliver a 6.6% CAGR through the coming years to garner a sizable revenue by 2027.

About Author

Ravi Chawat . .

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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