Helium Gas Market

Helium Gas Market Outlook from 2024 to 2034

A multitude of factors, including increased demand from the electronics and semiconductor industries, will fuel the helium gas market size to reach USD 46.8 billion by 2034, up from USD 30.4 billion in 2024. Such growth drivers for the helium gas market will support the progress at a steady CAGR of 4.4% over the forecast period.

As the electronics industry continues to expand, the demand for helium gas is expected to surge, driven by its use in LCD design. The forecasted period also anticipates a rise in semiconductor demand, particularly in Asia-Pacific countries, where local production of semiconductor chipsets is on the rise. Such growth drivers for the helium gas market present a significant opportunity for key players in the helium industry, underscoring its pivotal role in driving the helium gas market size.

The growing demand for sustainability has spurred key players in the helium industry to prioritize recycling. By preventing helium from escaping into the atmosphere and implementing effective recycling processes, the industry is demonstrating its commitment to responsible resource management. This trend is gaining momentum in the competitive landscape, contributing to the growth drivers for the helium gas market.

With the rising reliance on nuclear energy, the demand for allied systems will rise in the future. Apart from nuclear cooling systems, Helium can be used in many reactors, which drives the demand for the gas. Due to such growth drivers for the helium gas market, the industry will encompass an optimistic advancement path.

Helium can be effectively used as fuel for space programs. As the gas is known to deliver excellent propulsion for rockets, Helium is in demand more in space operations, and consequently, key players in the helium industry will gain more attention.

Growth drivers for the helium gas market include stringent regulatory policies implemented to reduce environmental pollution. Governments are promoting the use of inert gases like helium and neon, which drive the demand for gases, elevating the helium gas market size.

Attributes	Key Insights
Estimated Helium Gas Industry Size in 2024	USD 30.4 billion
Projected Helium Gas Industry Value in 2034	USD 46.8 billion
Value-based CAGR from 2024 to 2034	4.4%

Key Industry Highlights

Rising Demand in the Aerospace Sector Raises the Helium Gas Market Share

The aerospace sector widely demands helium gas in cooling systems. Larger aircraft require better cooling systems with high-pressure-producing gases. This criterion is achieved with the use of helium, benefitting the efficiency of aircraft. This rising demand in the sector enlarges the helium gas market size.

Healthcare Technology Supports Growth Drivers for the Helium Gas Market

With innovations gaining traction in the healthcare industry, different medical instruments use cutting-edge methods to produce better results. Liquid helium possesses excellent cooling properties due to its lower boiling point. Helium is thus in more demand for effective cooling of MRI machine magnets. The helium gas market share is rising in the global landscape.

Helium Shortage Might Affect the Growth Drivers for the Helium Gas Market

Due to the wider uses of helium, the gas is being overused. The ever-increasing demand for gas will likely burden finite resources, creating a shortage. This will be a key challenge, affecting the helium gas market size enlargement.

2019 to 2023 Global Helium Gas Market Sales Outlook Compared to Demand Forecast from 2024 to 2034

With reference to the historical growth drivers for the helium gas market, the advancement of the industry was occurring at a CAGR of 3.5%. This propagation lifted the helium gas market size from USD 24.5 billion to USD 29.1 billion from 2019 to 2023.

The growing demand for helium in deep-sea diving raised the helium gas market share. As the gas can reduce the state of drunkenness when added to the mix of oxygen and nitrogen, helium is demanded to ensure the optimum health of sea divers.

Technology will govern the forecasted period. High-speed computing is the field that will likely gain traction, where helium is widely used to enhance the speed of computers. This spurs the gas demand, increasing the helium gas market size.

Country-wise Analysis

The growing technological infrastructure in North America will contribute to the growth drivers for the helium gas industry. The area will continue to lead the landscape.

With the progress of the semiconductor ecosystem in the Asia-Pacific region, key players in the helium industry will gain more attention in the area.

Sustainability initiatives in Europe will likely drive producers to seek alternative energy sources, enlarging the helium gas market size.

Forecast CAGRs from 2024 to 2034

Countries	Forecasted CAGR
The United Kingdom	1.7%
The United States of America	2.4%
India	6.5%

Renewable Energy to Uplift the Helium Gas Market Size in the United Kingdom

The United Kingdom will mark extremely sluggish development at a CAGR of 1.7% through 2034.

Cryogenics is an emerging field in the energy sector. With the technological and infrastructural developments, energy storage systems have been evolving. Key players in the helium industry are demanded to fulfill the demand for extreme cooling through cryogenics.

The country, being more focused on renewable energy sources and finding the best alternatives for energy storage systems, drives the helium demand to fulfill the requirements mentioned above, driving the ecosystem.

Defense Sector to Spur the Helium Gas Market Share in the United States

Key players in the helium industry in the United States will ensure the landscape will progress at a CAGR of 2.4% from 2024 to 2034.

The government of the country is heavily investing in the defense systems. With the Air Force being an integral part of the defense system, investment prospects for all allied industries can be created.

Helium can be used to achieve better propulsion. With the better opportunities created by the US federal, helium use can be channeled into the defense sector.

The Helium Gas Market Share in India to Spur Due to the Healthcare Sector

The healthcare industry in India is expanding. With the government investments in the field, cutting-edge medical instruments are added to large hospitals in the country.

To enhance respiratory assistance provision to patients, helium can be used as a key ingredient in the ventillators. The gas is also used in MRI machinery in many clinics, hospitals, and diagnostic centers. The rising demand in different fields of the healthcare sector will be a fundamental benefit for key players in the helium industry.

Such growth drivers for the helium gas market will elevate the industry size to the highest CAGR of 6.5% through 2034.

Category-wise Insights

With the rising popularity of helium in different industries, the gas can be used to extract metals and non-metals in a safer and controlled environment. Such benefits elevate the demand for helium for maintaining an inert atmosphere. In the context of usability, gas is used the most in the healthcare sector, which has been evident from the discussion carried out so far.

The following two key segments occupy the largest industry share-

Manufacturing Industry Demands Helium for an Inert Environment

Category	Supply Mode- Metal Nanoparticles
Industry Share in 2024	73.4%

Different manufacturing processes, including chemical vapor deposition, gas-phase condensation, and thermal evaporation, use helium gas to create an inert environment. The synthesis of metal nanoparticles could become effective with the use of helium.

This explains the rising helium supply demand, justifying the segment share. The growing segment share also enhances the helium gas market share as the scope of application of the industry is widened.

Diversified Helium Applications Gain Traction in the Healthcare Landscape

Category	End Use- Healthcare
Industry Share in 2024	25.7%

Helium is gaining attention in the rapid cooling of superconducting magnets used in the healthcare sector. Key players in the helium industry supply the gas to many medical professionals, where helium is used to enhance the efficiency of such magnets.

Helium also finds applications in the field of anesthesia to ensure a controlled and positive environment for effective surgery. Such factors drive the demand for the segment, enlarging the helium gas market size.

Competition Outlook

With a better occupancy of key players in the helium industry, the competitive landscape is governed by such competitors. Organizations expand using various strategies, including acquisitions, mergers, and partnerships.

New entrants can mitigate the competitive force with the help of innovation and effective market strategies. A strategic alliance can avail a decisive edge in the industry. The collective ecosystem enhances the helium gas market share.

The following key developments have been observed recently-

• In February 2024, Air Liquide signed a long-term agreement with Sasol. Through this agreement, organizations aim to supply 110 MW of energy to Secunda. This will expand organizational reach.
• In April 2024, Linde PLC expanded the production capacity in the Florida factory by 50%. This expansion will help the organization maximize its resources, gaining a competitive advantage over competitors in the sector.

Leading Helium Gas Brands

Air Liquide, Linde PLC, Matheson Tri Gas Inc., Air Products and Chemical Inc., Air Gas INC., The Messer Group GMBH, Cryoin Engineering Ltd., Chengdu Taiyu Industrial Gases Co. Ltd., Paradox, and Grand Gulf Energy are key competitors in the ecosystem.

Helium Gas Market - Key Segments

By Supply Mode:

Depending on the supply mode, the industry is segmented into Cylinders, Bulk and Micro tanks, Drum tanks, and On-site modes.

By Application:

Helium gas can be applied effectively in various end-user industries, including Healthcare, Manufacturing, Electronics, Leak Detection, Fibre Optics, Lifting Gas, Heat Transfer, Breathing Mixtures, and Others.

By Region:

North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and The Middle East and Africa are the key contributing regions to the industry.

Frequently Asked Questions

At what CAGR industry will progress through 2034?

The helium gas market will advance at a CAGR of 4.4% through 2034.

What will the industry size be by 2034?

The industry will likely reach USD 46.8 billion by 2034.

What will the ecosystem’s size be by 2024?

The ecosystem will reach USD 30.4 billion in 2024.

Which supply mode will gain popularity in 2024?

The metal nanoparticles will hold 73.4% of the industry share in 2024.

What are the growth prospects in the United States through 2034?

The helium gas market in the United States will progress at a CAGR of 2.4% through 2034.