Great Lakes report


The industrial gas market in the Great Lakes generated revenues of approximately $3.15bn in 2020, up from a value of around $2.29bn in 2010, indicating almost a $1bn growth in a decade and a compound annual growth rate of 3.26% p.a. for the decade.

The largest gas company in the region was Linde plc, with estimated revenues of around $1.04bn and a market share of around 33% as a result. The next largest companies were Air Liquide and Air Products, with estimated revenues of $615.6m and $477.8m, respectively, equating to market shares of 19.5% and 15.2%.

In terms of supply mode, the largest revenue generator was gas delivered by cylinder (packaged gas), accounting for circa $1.24bn (39.4%) of the total gases market. Bulk sales and Onsite/Pipeline sales were tied for the second-largest revenue generator position, with approximately $930m (29.5%) attributable to each mode of supply.

The sale of nitrogen accounted for the largest portion of gas market revenues in the Great Lakes region, at approximately $898.6m, which equated to 28.5% of the total market. Sales of oxygen represented the second-largest amount of revenues, and were estimated to be worth around $611.2m (19.4%). Hydrogen and carbon dioxide sales came to around $446.4m (14.2%) and $430.5m (13.7%), respectively. The remainder of the market was made up by argon (approx. $273m), helium ($177m) and medical oxygen ($160m), as well as sales of acetylene and specialty gases ($153m for these latter two combined).

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