With the support of various growth drivers for the helium gas market, the sector will encompass a sluggish advancement, reaching a stage of maturity. The said industry will follow a CAGR of 4.4% through 2034. The helium gas market size will attain USD 46.8 billion by 2034, elevating the size from USD 30.4 billion, measured in 2024.
The rising dependency on nuclear power generation has forced people to seek the effective functioning of atomic systems. Nuclear reactor cooling systems are gaining traction in the industry. This can be fulfilled with the help of Helium, as the gas possesses a significantly lower boiling point. This explains the increasing helium gas market size.
Similar to the nuclear industry, the healthcare industry is fueling growth drivers for the helium gas market. The medical sector is evolving, using innovative and cutting-edge techniques for medical inspection. Helium finds wide applications in the medical field, including MRI machine cooling for repetitive use, which drives the demand for the gas.
Key players in the helium industry gain traction due to the growing electronics and semiconductor industry. Helium can effectively be used in the construction of LCDs, which is the reason for the growing sector of such players. As a result, the industry is fueled to grow.
With the ability of the gas to meet sustainability, governments are mandating the use of Helium as an alternative source of energy. Such factors increase the helium gas market size.
Key Takeaways from the Market Study
- The helium gas market in the United States of America will advance at a CAGR of 4% through 2034.
- India will lead the industry by registering the advancement at a CAGR of 5% from 2024 to 2034.
- The United Kingdom will likely traverse a sluggish progress path in the sector at a CAGR of 7% through 2034.
- The healthcare industry will demand helium the most, justifying the share of 7% in the competitive landscape.
“With the overuse of helium, the reserves of the gas might become obsolete, which is a key challenge, affecting the growth drivers for the helium gas market,” says an FMI analyst.
Competition Outlook
Key players in the helium industry have substantial market share, which might affect new entrants. The saturation in the industry explains the competitive force within the landscape.
Key competitors expand using partnerships, mergers, and acquisitions, whereas new entrants can choose strategic alliances and innovation to gain a substantial position in the industry.
The following recent developments enhance the helium gas market share:-
- In March 2023, Linde PLC expanded in Penneselvia with the help of a corporate office. This will expand the functioning of the organization in new sectors.
- In April 2024, Air Liquide strengthens its global presence by acquiring Homecare Activities in the Netherlands and Belgium. The move also expands the reach of the organization.
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Future Market Insights offers an unbiased global helium gas market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.
The market is segmented by Supply Mode (Cylinders, Bulk and Micro tanks, Drum tank, and On-site), By Application (Healthcare, Manufacturing, Electronics, Leak Detection, Fibre Optics, Lifting Gas, Heat Transfer, Breathing Mixtures, and Others), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and The Middle East and Africa).
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