Cloud Services is fastest growing segment fueling the growth of Gaseous and Liquid Helium Market

 


The global Gaseous and Liquid Helium Market is estimated to be valued at US$ 7.05 Bn in 2023 and is expected to exhibit a CAGR of 22.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:
Helium finds applications in various end-use industries such as healthcare, aerospace, manufacturing, electronics and others due to its unique properties such as inertness, low boiling point and low density. It is used as as a pressurizing and lifting gas in balloons, airships and various lightweight applications.

Market key trends:
One of the major trends gaining momentum in the Global Gaseous And Liquid Helium Market Size is its increasing demand from the healthcare sector. Helium gas finds major usage in MRI scanners and cryosurgery. It assists in achieving very low temperatures necessary for superconductivity of electromagnets within MRI machines. Around 25% of the total helium production is consumed by the healthcare industry. Moreover, the growing geriatric population prone to chronic diseases is expected to propel the demand for medical imaging procedures like MRI scans globally, thus driving the need for helium over the forecast period.

Segment Analysis

Gaseous and Liquid Helium Market is primarily segmented into two types- gaseous helium and liquid helium. Among these, liquid helium emerged as the largest segment in 2022, accounting for nearly 50% share of the overall market. Liquid helium finds wide applications in fields requiring extremely low temperatures such as magnetic resonance imaging, superconducting magnets, and semiconductor manufacturing. Its demand is expected to rise further owing to increasing investments in space research programs utilizing liquid helium cooled rockets.

Key Takeaways

The global Gaseous and Liquid Helium Market is expected to witness high growth, exhibiting CAGR of 22.% over the forecast period, due to increasing investments in healthcare sector. The market size for 2023 is estimated to be US$ 7.05 Bn.

Regional analysis - North America dominated the global market in 2022 and is estimated to maintain its dominance over the forecast period. This is attributed to the presence of major helium producers and consumers in the region, especially the U.S. Asia Pacific is anticipated to witness fastest growth backed by rising healthcare spending and advancements in space research projects in countries such as China and India.

Key players operating in the Gaseous and Liquid Helium Market are Air Products and Chemicals, Inc., Linde plc, Praxair, Inc. (now part of Linde), Air Liquide S.A., Gazprom, RasGas (now part of Qatar Petroleum), ExxonMobil Corporation, Matheson Tri-Gas, Inc., Iwatani Corporation, Messer Group GmbH. Key players are engaged in strengthening their production and supply capabilities to leverage growth opportunities in developing markets.

Read Our More Blogs : https://www.rapidwebwire.com/gaseous-and-liquid-helium-market-size-share-analysis-2023-2030/

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