Top Key Companies in the Oxygen Market

Oxygen Market typically refers to the economic domain encompassing the production, distribution, and utilization of oxygen, especially in various industries. This market may include the buying and selling of oxygen-related products and services, such as medical oxygen, industrial oxygen, and related equipment. Factors like healthcare demands, industrial applications, technological advancements, and regulatory considerations influence the Oxygen Market. The market size is often measured in monetary terms, reflecting the overall value of transactions and economic activity within the oxygen-related industry.

The Oxygen Market is poised for substantial growth, with an anticipated value of USD 132.4 billion by 2033, demonstrating a robust Compound Annual Growth Rate (CAGR) of 11.1% from its 2023 valuation of USD 46.2 billion. Oxygen plays a crucial role as an industrial gas, notably dominating key sectors such as manufacturing (86.7%) and healthcare, showcasing its versatility across diverse applications. In terms of preferred form, Liquid Oxygen led the market in 2023, capturing a significant 61.5% share, underscoring its adaptability and convenience in various industrial settings.

Cryogenic production emerged as the top production method in 2023, indicating its efficiency in meeting diverse industrial oxygen demands, particularly under extremely low temperatures. Furthermore, within the end-use landscape, Metal & Mining claimed a substantial market share of 49.7% in 2023, underscoring oxygen’s pivotal role in critical processes within this industry. The Asia Pacific region has emerged as a dominant presence in the worldwide oxygen market, commanding a notable market share of 48.7%.

Here is the list of the Top biggest Oxygen companies in the world.

• Air Liquide (France)
• Linde plc (Ireland/UK)
• Air Products and Chemicals, Inc. (US)
• Messer SE & Co. KGaA (Germany)
• Nippon Sanso Holdings Corporation (Japan)

Best Oxygen Companies: Comparison Table

Leading Oxygen Companies

Messer North America, Inc.

• Messer North America, Inc. is a subsidiary of Messer Group, the world’s largest privately held industrial gas business and a leading industrial and medical gas company in North and South America.
• Messer North America is committed to sustainability and environmental responsibility, implementing various initiatives to reduce its environmental footprint.
• The company actively participates in industry associations and supports local communities through various philanthropic endeavors.

• Key Facts:

  • Market Position: Leading industrial and medical gas company in North and South America
  • Number of Employees: Approximately 5,000 (as of 2024)
  • Production Facilities: Over 70 across the United States, Canada, Brazil, Colombia, and Chile
  • Products: Industrial gases (oxygen, nitrogen, argon, hydrogen, etc.), medical gases (oxygen, nitrous oxide, etc.), specialty gases (electronic, calibration), related equipment and services

INOX-Air Products Ltd.

• INOX-Air Products Ltd. (INOX AP) is a leading industrial and medical gas company in India. It is a joint venture between INOX Leasing and Finance Limited, an Indian company focused on financing and leasing solutions. Air Products and Chemicals, Inc. (APD), is a leading global industrial gas company headquartered in the United States.
• INOX-Air Products Ltd. is committed to environmental responsibility and implements various initiatives to reduce its emissions and conserve resources.
• The company actively participates in industry associations and supports sustainable development initiatives in India.
• Key Facts:
  • Market Position: Leading industrial and medical gas company in India
  • Number of Employees: Over 1,500 (as of 2024)
  • Production Facilities: Over 44 operating locations across India
  • Products: Industrial gases (oxygen, nitrogen, argon, hydrogen, etc.), medical gases (oxygen, nitrous oxide, etc.), specialty gases, equipment, and services

Air Products and Chemicals, Inc. (APD)

• Air Products and Chemicals, Inc. is a leading American multinational corporation that supplies industrial gases and chemicals for various industries. Air Products actively participates in industry associations and supports various educational and community development initiatives. The company has been recognized for its environmental, social, and governance (ESG) practices by various organizations.
• Key Facts:
  • Market Position: One of the largest industrial gas companies globally
  • Number of Employees: Over 22,000 (as of 2024)
  • Global Presence: Operations in over 50 countries
  • Production Facilities: Over 500 facilities worldwide
  • Revenue: $12.6 billion (fiscal year 2023)
  • Stock Symbol: APD (NYSE)

Air Liquide

• Air Liquide is a French multinational company and a leading player globally in the industrial gas and services market. They also hold a prominent position in the healthcare sector, supplying medical gases and related equipment. Air Liquide actively participates in industry associations and supports various educational and community development initiatives. The company has been recognized for its environmental, social, and governance (ESG) practices by various organizations.
• Key Facts:
  • Market Position: Ranked as the second largest supplier of industrial gases globally (by revenue) with a strong presence in over 80 countries
  • Number of Employees: Over 66,000 (as of 2024)
  • Revenue: €24.2 billion (2023)
  • tock Symbol: AI (Euronext Paris)

TAIYO NIPPON SANSO CORPORATION

• Taiyo Nippon Sanso Corporation (TNSC), also known as Taiyo Sanso, is a Japanese multinational company and a leading player in the industrial gas and related equipment market in Japan. It is a subsidiary of Nippon Sanso Holdings Corporation, which is one of the top five industrial gas suppliers globally. Taiyo Nippon Sanso is actively expanding its business globally, with a focus on the Asian market. The company is investing in research and development to develop new technologies and applications for industrial gases.
• Key Facts:
  • Market Position: Leading industrial gas supplier in Japan, with a strong presence in the electronics and automotive sectors
  • Number of Employees: Over 10,000 (as of 2021)
  • Revenue: ¥846.4 billion (2021 consolidated)
  • Parent Company: Nippon Sanso Holdings Corporation

AIR WATER INC

• Air Water Inc. is a prominent Japanese multinational corporation with a diverse portfolio in industrial gas, chemicals, healthcare, and other related fields. Air Water actively participates in industry associations and supports various social responsibility initiatives. The company’s website primarily operates in Japanese, with limited information available in English.
• Key Facts:
  • Market Position: Leading industrial gas company in Japan, with a strong presence in various sectors.
  • Number of Employees: Over 20,000 (as of 2022)
  • Revenue: ¥1,004.9 billion (2022 IFRS)
  • Stock Symbol: 4088 (TSE)

Bhuruka Gases Limited

Bhuruka Gases Limited (BGL) is a prominent Indian manufacturer, importer, and exporter of industrial, specialty, and calibration gases. It has been operating since 1974 and is known for its commitment to quality and service. Bhuruka Gases continues to invest in expanding its production capacity and product portfolio to cater to the growing demand for industrial gases in India. The company emphasizes innovation, developing new gas applications, and exploring cleaner and more sustainable solutions.

Key Facts:

• Market Position: Leading industrial gas supplier in India, with a strong presence in South India
• Number of Employees: Over 200 (estimated)
• Revenue: ₹721.76 crore (FY 2023-24)
• Stock Symbol: 509728 (BSE), NABSE (NSE)

Conclusion

In summary, the oxygen market is marked by a diverse range of companies that hold crucial roles in oxygen production, distribution, and technological advancement. These entities vary from major industrial gas corporations to specialized players within the sector.

Their collective efforts have been instrumental in propelling the expansion and evolution of the oxygen market. Through a commitment to research and development, these companies have worked to improve production methods, explore new applications, and extend the reach of oxygen beyond conventional uses in healthcare and industrial sectors. This inclusive approach includes applications in areas such as manufacturing, showcasing the adaptability and versatility of oxygen across diverse industries.