Oxygen Market Size, Share, Price, Analysis Report 2032

Oxygen Market Insights

According to Zion Market Research, the global Oxygen Market was worth USD 46.20 Billion in 2023. The market is forecast to reach USD 137.16 Billion by 2032, growing at a compound annual growth rate (CAGR) of 11.5% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Oxygen Market industry over the next decade.

The report offers assessment and analysis of the Oxygen Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Million).

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Oxygen Market: Synopsis

Oxygen is vital for life on earth and is colorless in nature. Apparently, it is provided to patients through cylinders or cans. Moreover, wide spread of COVID-19 pandemic had resulted into lucrative need for oxygen and this had facilitated opening of new oxygen manufacturing units across globe to increase oxygen supply to COVID-19 patients. Furthermore, oxygen is utilized as catalytic agent in myriad industrial processes. Increase in demand for medical oxygen concentrators will boost growth of oxygen market.

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Oxygen Market: Growth Factors

Expansion of oxygen market over assessment period can be credited to large-scale demand for oxygen in automotive, farming, food & beverages, medicine, chemical, shipbuilding, steel production, and space explorations. Apart from this, large-scale use of oxygen in surgeries and for patients suffering from chronic disorders will bulge size of oxygen market in near future. Most common application of oxygen includes plastic production, textile manufacture, and steel production. Additionally, it also finds slew of applications in brazing, metals, oxygen therapy, welding & cutting activities, rocket propellant, and life support tools. All these aforementioned aspects are projected to provide new avenues of growth for oxygen market.

Furthermore, oxygen masks are worn by persons in aircraft & space craft and while landing on other planets or space. Apparently, oxygen cylinders are used by people in submarines, diving, and spaceflight. All these factors will propel growth chart of oxygen market in near future. Moreover, oxygen dissolves easily in water as compared to other gases such as nitrogen and this has enlarged scope of use of oxygen in freshwater lakes and ponds. Such beneficial features are likely to augment growth of oxygen market in upcoming years. Furthermore, oxygen is also used food production in plants and this is predicted to satiate global food requirements and stave off food crises as well as resolve food scarcity problems. However, oxygen can prove to be toxic at high partial pressure resulting in health issues and can lead to convulsions. Additionally, oxidation can lead to corrosion of substances and sometimes can render or make the substance devoid of use (or make it useless). This can prove detrimental to growth of oxygen market.

Oxygen Market: Report Scope

Oxygen Market: Regional Landscape

Asia Pacific Oxygen Market To Record Exponential Growth By 2032

Expansion of oxygen market in Asia Pacific over assessment period can be credited to rise in demand for oxygen in healthcare industry  as well as manufacturing units across countries’ such as India, Indonesia, China, Japan, and Philippines. Additionally, large-scale presence of major oxygen manufacturing units in countries such as India and China will account majorly towards size of oxygen market in Asia Pacific zone.

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Oxygen Market: Competitive Landscape

Key players profiled in report and lucratively influencing market growth are

• Precision Medical Inc.
• Besco Medical Co. Ltd.
• AirSep Corporation
• Chart Industries Inc.
• Drive DeVilbiss Healthcare LLC
• Philips Healthcare
• Koninklijke Philips N.V.
• Nidek Medical Products Inc.
• Invacare Corporation
• O2 CONCEPTS LLC.

The global Oxygen Market is segmented as follows:

By Route of Administration

• Transtracheal Catheters
• Nasal Cannula
• Face Masks
• Ventilators
• Neonatal Incubators

By Application

• Hospitals
• Homecare Settings
• Ambulatory Units

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa