Cloud Computing Is The Fastest Growing Segment Fueling The Growth Of The Gaseous And Liquid Helium Market

ashwinicmi

posted on 9 months ago — updated on 1 second ago

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One of the key trends driving the market growth is the increasing demand from the rising cloud computing industry.

Cloud Computing Is The Fastest Growing Segment Fueling The Growth Of The Gaseous And Liquid Helium Market

Helium is a non-flammable and non-toxic gas with properties like high thermal conductivity and low molecular weight which makes it suitable for applications like MRI, spectroscopy, welding and fiber optic manufacturing. It is also primarily used as a cooling agent in cryogenic research and semiconductor manufacturing.

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 key trends:
The data centers and server farms require massive amounts of liquid helium to cool the processors and hardware. The adoption of cloud-based services is enhancing exponentially owing to increased internet penetration and demand for data storage. Handling large volumes of data generates high heat within servers which needs to be dissipated immediately. Thus, the extensive cooling needs of cloud infrastructure are propelling the liquid helium market growth. In tropical regions with hot temperatures, hyperscale data centers entirely depend on liquid helium for continuous cooling of computer systems without any disruption.
Segment Analysis
The gaseous and liquid helium market is segmented into type, application, end-use industry, and region. Based on type, the gaseous and liquid helium market is divided into liquid helium and gaseous helium. Among these, the gaseous helium segment dominates the market and is projected to continue its dominance over the forecast period due to its wider applications in various industries including aerospace, manufacturing, and healthcare.

Key Takeaways
The Global Gaseous And Liquid Helium Market Size is expected to witness high growth, exhibiting a CAGR of 22% over the forecast period, due to increasing demand from healthcare sector for medical imaging equipment.

Regional analysis:
North America dominates the global gaseous and liquid helium market and is expected to continue its dominance over the forecast period. This is attributed to growing healthcare infrastructure and increasing demand for helium from diverse industries in the region. Asia Pacific is anticipated to be the fastest growing market for gaseous and liquid helium due to growing electronics and semiconductor industries in emerging economies of China and India.

Key players:
Key players operating in the gaseous and liquid helium market include 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. Players are focusing on expanding their production capacities and geographical footprints to cater to increasing demand.