Latest News- Helium Market: Medical and healthcare is expected to lead the End-user segment during 2024-2028

The Helium Market is being driven by Growing demand for defense aircraft and government defense expenditure

The Helium Market is expected to grow at a CAGR of 6.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1403.82 million. The global helium market is poised for significant expansion due to the escalating trend of mergers and acquisitions (M&A) among market participants. Strategic M&A activities enable established vendors to acquire smaller players, thereby gaining access to innovative products and technologies at cost-effective prices. Notable transactions, such as Air Products' acquisition of Air Liquide's industrial gases business in the UAE in April 2022, fortify market presence, broaden regional footprints, and enhance sourcing capabilities. These successful M&A activities contribute substantially to the growth and market share of key players in the helium industry. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Medical and healthcare
  • Aerospace and defense
  • Electronics and electrical
  • Metal fabrication
  • Others
• Type
  • Gas
  • Liquid
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing demand for defense aircraft and government defense expenditure
• Industrial growth in emerging countries driving the global helium market
• Increased focus on research and development of helium

However, the market also witnesses some limitations, which are as follows:

• Heavy dependence on proper helium gas distribution and handling systems
• Fluctuating price of helium
• Stringent regulatory regime and safety regulations for helium

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Market Scope in Helium Market Research Report

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Research Analysis Overview

Helium, an inert gas and natural resource, plays a crucial role in various industries, including medical technology and scientific research. In the medical field, it's used in MRI machines for magnet cooling, aiding in the detection and treatment of breathing disorders like asthma and emphysema. The aging population and rising prevalence of lifestyle diseases increase the demand for medical examinations, such as MRI and CT scans, which require helium. The semiconductor and aviation industries also rely on helium for pulmonary treatment, breathing observation, and other applications. With the increasing health expenditure and scientific research, the demand for helium continues to grow in the medical, neurology, and space exploration sectors. However, the natural gas reservoirs are depleting, leading to a potential helium shortage, which could impact industries and consumers alike.

Market Research Overview

The global helium market is a significant segment of the larger diversified metals and mining industry, according to Technavio's market research. This sector encompasses companies involved in the production or extraction of non-ferrous metals, including helium, as well as salt, borate, phosphate rock, and diversified mining operations. Key applications for helium span across industries such as cryogenics, medical gas use, semiconductor manufacturing, MRI machines, welding, aerospace, and high-purity helium. Helium recovery technology, production methods, storage solutions, and gas separation technology are essential components of the helium supply chain. With increasing demand for alternative gas sources, the market for helium suppliers and distribution networks continues to expand, underpinned by robust gas pipeline infrastructure.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/