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Oxygen & Hydrogen Gas Manufacturing in Canada Industry Data and Analysis
Oxygen and hydrogen manufacturers in Canada have faced a challenging landscape in recent years, influenced by a confluence of regulatory pressures, market shifts and economic fluctuations. The increasing focus on environmental responsibility has prompted these manufacturers to evolve, aiming to mitigate their carbon footprints while navigating the dynamics of import penetration, particularly from the US and China. Despite these hurdles, manufacturers have enjoyed certain pockets of growth, particularly fueled by demands from the healthcare sector during the pandemic and increased industrial activity related to oil and gas exploration. However, the reliance on downstream markets, such as the automobile and electronics industries, has been a double-edged sword, often marred by declining performance in these markets. Revenue for oxygen and hydrogen gas manufacturers is expected to climb slightly at a CAGR of 0.6% to $1.6 billion through the end of 2025, despite a forecast dip of 1.6% in 2025 alone.
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What's included in this industry analysis
IBISWorld's research coverage on the Oxygen & Hydrogen Gas Manufacturing industry in Canada includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released January 2026.
About this industry
What's this industry report about?
The Oxygen & Hydrogen Gas Manufacturing industry in Canada operates under the NAICS industry code 32512CA. This industry manufactures the following industrial gas products: carbon dioxide (dry ice); air-separated gases, such as nitrogen, oxygen and argon; steam-reformed gases, such as hydrogen, carbon monoxide and helium; and specialty gases, such as refrigerants and propellants. Gases are then supplied to customers via on-site air production plants, pipelines, rail or compressed cylinders. This industry does not include the production of natural gas-based fuels such as methane or propane. Related terms covered in the Oxygen & Hydrogen Gas Manufacturing industry in Canada include sublimation, cryogenic distillation, steam methane reformer (smr), air separation unit (asu), natural helium reserve, air separated gases (asg's), process gases and tonnage users.
What's included in this industry?
Products and services covered in Oxygen & Hydrogen Gas Manufacturing industry in Canada include Specialty gases, Air-separated gases and Industrial byproduct gases.
What companies are included in this industry?
Companies covered in the Oxygen & Hydrogen Gas Manufacturing industry in Canada include Air Liquide SA, Linde PLC and Air Products and Chemicals Inc.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Oxygen & Hydrogen Gas Manufacturing industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Oxygen & Hydrogen Gas Manufacturing industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Oxygen & Hydrogen Gas Manufacturing industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Oxygen & Hydrogen Gas Manufacturing industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Oxygen & Hydrogen Gas Manufacturing industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Oxygen & Hydrogen Gas Manufacturing industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Oxygen & Hydrogen Gas Manufacturing industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Oxygen & Hydrogen Gas Manufacturing industry in Canada.
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Frequently Asked Questions
What is the market size of the Oxygen & Hydrogen Gas Manufacturing industry in Canada in 2026?
The market size of the Oxygen & Hydrogen Gas Manufacturing industry in Canada is $1.6bn in 2026.
How many businesses are there in the Oxygen & Hydrogen Gas Manufacturing industry in Canada in 2026?
There are 27 businesses in the Oxygen & Hydrogen Gas Manufacturing industry in Canada, which has declined at a CAGR of 0.0 % between 2021 and 2026.
How may import tariffs affect the Oxygen & Hydrogen Gas Manufacturing industry in Canada?
The Oxygen & Hydrogen Gas Manufacturing industry in Canada is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Oxygen & Hydrogen Gas Manufacturing industry in Canada?
The Oxygen & Hydrogen Gas Manufacturing industry in Canada is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Oxygen & Hydrogen Gas Manufacturing industry in Canada grown or declined over the past 5 years?
The market size of the Oxygen & Hydrogen Gas Manufacturing industry in Canada has been growing at a CAGR of 0.6 % between 2021 and 2026.
What is the forecast growth of the Oxygen & Hydrogen Gas Manufacturing industry in Canada over the next 5 years?
Over the next five years, the Oxygen & Hydrogen Gas Manufacturing industry in Canada is expected to decline.
What are the biggest companies in the Oxygen & Hydrogen Gas Manufacturing industry in Canada?
The biggest companies operating in the Oxygen & Hydrogen Gas Manufacturing industry in Canada are Air Liquide SA, Linde PLC and Air Products and Chemicals Inc.
What does the Oxygen & Hydrogen Gas Manufacturing industry in Canada include?
Manufacturing industrial gases in general and Separating atmospheric air into its gaseous components are part of the Oxygen & Hydrogen Gas Manufacturing industry in Canada.
Which companies have the highest market share in the Oxygen & Hydrogen Gas Manufacturing industry in Canada?
The company holding the most market share in the Oxygen & Hydrogen Gas Manufacturing industry in Canada is Air Liquide SA.
How competitive is the Oxygen & Hydrogen Gas Manufacturing industry in Canada?
The level of competition is moderate and increasing in the Oxygen & Hydrogen Gas Manufacturing industry in Canada.
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