Global Helium Gas Market to Witness Significant Growth, Valued at $2.45 Billion in 2022, Projected to Reach $3.42 Billion by 2030

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16 Aug, 2023, 10:15 ET

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DUBLIN, Aug. 16, 2023 /PRNewswire/ -- The "Global Helium Gas Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The global helium gas market is projected to experience significant growth, with a CAGR of 4.9% during the forecast period from 2023 to 2030. The market size was valued at $2.45 billion in 2022 and is expected to reach $3.42 billion by 2030.

Helium is in high demand in various industries, including medical, technology, and aircraft sectors, where it is used for MRI machines, superconductors, and pressure purging by companies like SpaceX and NASA.

However, the expensive extraction process and strict government regulations regarding helium use may hinder market growth. Nevertheless, the development of efficient gas storage and transportation techniques, along with abundant natural gas reserves, is expected to create numerous opportunities during the forecast period.

Segmental Outlook

The global helium gas market is segmented based on supply mode and application. The supply mode segment includes cylinders, bulk and micro tanks, drum tank, and on-site supply. On the other hand, the application segment is divided into healthcare, manufacturing, electronics, leak detection, fiber optics, lifting gas, heat transfer, breathing mixtures, and other applications. Among these, the healthcare sub-segment is expected to hold a prominent market share over the forecast period due to the high demand for helium in the healthcare industry, where it is used for breathing observation and treating respiratory ailments.

Regional Outlooks

The global helium gas market is further segmented based on geography, including North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is expected to register the highest growth during the forecast period, driven by increasing technological advancements, modernization, rising disposable income, and growing demand from various end-use industries. However, the North American region is also projected to experience considerable growth in the helium gas market.

Market Players Outlook

A selection of Companies mentioned in this report includes

These market players are actively contributing to market growth through strategies such as mergers and acquisitions, partnerships, collaborations, funding, and new product launches to maintain a competitive edge in the market.

For more information about this report visit https://www.researchandmarkets.com/r/9wh7dy

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SOURCE Research and Markets