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.
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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.
Rising Demand and Innovation Propel Growth in the Helium Gas Market
The helium gas market is influenced by various growth drivers, including:
- Increased Demand in Healthcare: Helium is crucial in medical imaging technologies, particularly MRI machines. As the healthcare sector expands and the use of MRIs increases, the demand for helium is expected to rise.
- Growing Aerospace and Defense Sector: Helium is used in various aerospace applications, including rocket propulsion systems and high-altitude balloons. As investments in aerospace and defense grow, the demand for helium will likely increase.
- Electronics and Semiconductor Industry: The production of semiconductors and electronic components utilizes helium in various processes, such as cooling and creating inert atmospheres. The ongoing expansion of the electronics industry supports helium demand.
- Emergence of Alternative Energy Technologies: Helium is used in the development of energy-efficient technologies, such as fuel cells and photovoltaic cells. The shift towards renewable energy sources can drive demand for helium in these applications.
- Research and Development Activities: The scientific community, including universities and research institutions, heavily relies on helium for cryogenics, cooling superconducting magnets, and conducting experiments. The growth in R&D activities boosts helium consumption.
- Increased Use in Welding and Metallurgy: Helium is utilized as a shielding gas in welding and various metallurgical processes. The growth in manufacturing industries, particularly automotive and construction, drives the demand for helium in these applications.
Key Takeaways from the Market Study
- The helium gas market in the United States of America will advance at a CAGR of 2.4% through 2034.
- India will lead the industry by registering the advancement at a CAGR of 6.5% from 2024 to 2034.
- The United Kingdom will likely traverse a sluggish progress path in the sector at a CAGR of 1.7% through 2034.
- The healthcare industry will demand helium the most, justifying the share of 25.7% 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 Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Regional Analysis of the Helium Gas Market
Forecast CAGRs from 2024 to 2034
| Countries | Forecasted CAGR |
| The United Kingdom | 1.7% |
| The United States of America | 2.4% |
| India | 6.5% |
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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.
Leading Companies in the Helium Gas Market
- Air Liquide
- Linde PLC
- Matheson Tri Gas Inc.
- Air Products and Chemicals Inc.
- Air Gas INC.
- The Messer Group GmbH
- Cryoin Engineering Ltd.
- Chengdu Taiyu Industrial Gases Co. Ltd.
- Paradox
- Grand Gulf Energy
More Valuable Insights Available
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).
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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