Australia Industrial Gases Market Poised to Reach USD 2.50 Billion by 2033 Fueled by Green Hydrogen and Healthcare Expansion

Australia Industrial Gases Market Overview

Market Size in 2024: USD 1.44 Billion

Market Size in 2033: USD 2.50 Billion

Market Growth Rate 2025-2033: 5.70%

According to IMARC Group's latest research publication, "Australia Industrial Gases Market Size, Share, Trends and Forecast by Type, Application, Supply Mode, and Region, 2025-2033", The Australia industrial gases market size reached USD 1.44 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 2.50 Billion by 2033, exhibiting a CAGR of 5.70% during 2025-2033.

How Clean Energy and Innovation Are Reshaping the Future of Australia Industrial Gases Market

• Accelerating Hydrogen Economy: Government's $22.7 billion Future Made in Australia plan includes Hydrogen Production Tax Incentive offering $2 per kilogram for renewable hydrogen, with first purchase auctions scheduled for 2025 and commercial sales targeted for 2027-2028.

• Powering Healthcare Transformation: Rising demand for medical-grade oxygen, nitrogen, and specialty gases across hospitals and aged care facilities supports Australia's expanding healthcare infrastructure, with stringent quality requirements driving advanced purification technologies.

• Supporting Mining Operations: Australia's dominant position in global mining creates sustained demand for oxygen in metal smelting, nitrogen for safe underground extraction, and acetylene for welding across lithium, iron ore, copper, and rare earth operations.

• Enhancing Food Preservation: Modified atmosphere packaging (MAP) using nitrogen and carbon dioxide extends shelf life and maintains product integrity, supporting Australia's growing food export market while reducing spoilage across supply chains.

• Revolutionizing Distribution Networks: Government infrastructure incentives including grants and low-interest loans enable industrial gas companies to expand logistics and storage capabilities into remote regions, improving service accessibility for rural mining and healthcare facilities.

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Australia Industrial Gases Market Trends & Drivers:

Australia's industrial gases market is experiencing robust growth driven by large-scale government investments and the ambitious transition toward clean energy. The government's $22.7 billion Future Made in Australia plan positions hydrogen as a cornerstone of the nation's sustainability strategy, with the Hydrogen Production Tax Incentive providing $2 for every kilogram of eligible renewable hydrogen produced between July 2027 and June 2040. The joint H2Global tender initiative bridges the price gap for renewable hydrogen produced in Australia and sold in Europe, with initial purchase auctions scheduled for 2025 and first annual sales auctions targeted for 2027-2028. This commitment is encouraging gas companies to expand production capacity while adopting greener technologies. Major investments in hydrogen hubs, production facilities, and supporting infrastructure are accelerating commercialization of hydrogen as a viable alternative fuel, stimulating research and private investment across sectors. Industrial gases like hydrogen and oxygen prove integral to renewable energy systems including fuel cells and water electrolysis, positioning Australia as a global leader in clean hydrogen while simultaneously boosting market growth through low-emission solutions and technological innovation.

Healthcare and medical sectors are generating significant momentum for industrial gases across Australia. Medical-grade oxygen, nitrogen, and various specialty gases are essential for respiratory care, surgery, sterilization, and medical diagnostics. The expansion of hospitals, aged care facilities, and clinics driven by increased government healthcare spending and an aging population has intensified demand for high-purity, consistent medical gas supplies. Biotechnology, pharmaceutical, and medical research advancements are creating new applications for specialty gases in laboratories and manufacturing operations. Medical gas suppliers are scaling production and distribution capabilities to meet stringent regulatory requirements governing safety, quality, and environmental standards. Government-implemented frameworks ensure adherence to best practices across production, handling, transportation, and storage of gases. These measures are particularly vital in healthcare, food, and electronics sectors where only high-purity certified gases can be utilized. Advanced monitoring systems, automated filling processes, and traceability technologies help manufacturers meet demanding compliance standards while regular audits and certification programs incentivize continuous improvement in quality and efficiency.

Mining and resource extraction activities continue driving consistent industrial gas demand across Australia's economy. Oxygen is widely used in metal cutting and smelting operations while nitrogen and inert gases play critical roles preventing oxidation and enabling safe extraction in underground mining. Acetylene and hydrogen are frequently utilized in welding and metallurgical applications supporting extraction of critical minerals like lithium, iron ore, copper, and rare earth elements. International markets' growing appetite for these minerals continues expanding the volume of gas required in mining support operations. Government backing for mining infrastructure and exploration has further intensified industrial gas needs. Simultaneously, the food and beverage industry increasingly turns to industrial gases for meeting rising consumer expectations around quality, safety, and extended shelf life. Nitrogen and carbon dioxide are essential in modified atmosphere packaging, carbonation of drinks, and preserving freshness during chilling and freezing. With domestic production rising and food exports expanding into global markets, demand for reliable food-grade gas solutions steadily increases. Government infrastructure incentives including grants, low-interest loans, and tax benefits for projects in remote regions encourage gas companies to expand logistics, storage, and distribution networks into underserved areas, improving supply chain efficiency nationwide.

Australia Industrial Gases Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

• Nitrogen

• Oxygen

• Carbon Dioxide

• Argon

• Hydrogen

• Others

Application Insights:

• Manufacturing

• Metallurgy

• Energy

• Chemicals

• Healthcare

• Others

Supply Mode Insights:

• Packaged

• Bulk

• On-Site

Breakup by Region:

• Australian Capital Territory & New South Wales

• Victoria & Tasmania

• Queensland

• Northern Territory & Southern Australia

• Western Australia

Recent News and Developments in Australia Industrial Gases Market

• January 2025: Viva Energy commissioned Australia's first multi-sector hydrogen production and refueling facility, establishing a centralized hub for industrial decarbonization that serves as both an operational refueling station and live laboratory for trialing hydrogen technologies across diverse sectors.

• March 2025: Australian Government launched H2Global joint tender program with European partners, scheduling initial renewable hydrogen purchase auctions for 2025 to bridge price gaps between Australian production and European sales, targeting first annual auctions for 2027-2028.

• June 2025: Air Liquide Healthcare expanded medical gas delivery infrastructure across regional Australia, investing in advanced cryogenic storage systems and automated distribution networks to support growing aged care facilities and remote healthcare providers with pharmaceutical-grade oxygen and nitrogen supplies.

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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