Helium Market Forecast: Industry Challenges & Opportunities 2025–2030
The global helium market size was estimated at USD 4.1 billion in 2024 and is projected to reach USD 6.06 billion by 2030, growing at a CAGR of 6.7% from 2025 to 2030. This growth is driven by the increasing utilization of helium across a wide range of end-use industries, including aerospace, defense, medical, electronics & electrical, and the energy sector. The unique properties of helium make it indispensable for advanced industrial processes as well as high-tech applications, fueling consistent demand worldwide.
Helium also plays a critical role in scientific experiments and research, particularly in specialized fields such as physics, chemistry, and materials science. With the continuous expansion of global research activities, the demand for helium remains strong and is expected to grow further in the coming years. The market landscape is becoming increasingly competitive, with both international corporations and domestic manufacturers striving to expand their market shares. While leading multinational companies currently dominate a significant portion of the industry, domestic players in countries such as Canada, Qatar, Russia, and India are steadily strengthening their presence, contributing to regional diversification of supply.
According to the U.S. Department of the Interior, helium is the second most abundant element after hydrogen. It is an odorless, colorless, and inert gas, recognized for its unique physical and chemical characteristics. Despite its abundance in nature, helium is considered a finite natural resource, as it is primarily extracted from natural gas reservoirs rather than produced synthetically. Certain regions, including Texas, Oklahoma, and Kansas, are particularly rich in helium reserves due to favorable geological conditions, with concentrations in natural gas ranging from 0.3% to 2.7%.
Although helium is widely associated with balloon inflation due to its non-flammable and safe nature, its applications extend far beyond recreational uses. It is a critical enabler in advanced industries and technologies, including medical imaging and diagnostics (such as MRI machines), high-precision manufacturing, space exploration, national defense, and next-generation scientific research. These broad and vital applications underscore helium’s strategic importance in both industrial and scientific domains, making it one of the most valuable resources in the modern global economy.
Key Market Trends & Insights:
• In 2024, the North America helium market emerged as the leading regional market, capturing a dominant 36.7% revenue share. This leadership can be attributed to the region’s abundant natural gas reserves, advanced extraction and refining infrastructure, and the high demand for helium across industries such as healthcare, aerospace, and electronics. Furthermore, strong research activities and well-established industrial applications in the U.S. continue to reinforce North America’s position in the global helium landscape.
• Based on phase, the gas phase segment dominated the global market with a significant 72.2% revenue share in 2024. The widespread usage of helium in its gaseous form across diverse applications—including leak detection, welding, controlled atmospheres, and pressurizing and purging operations—has contributed to its prominence. Its inert, non-flammable, and lightweight nature makes it highly suitable for industrial and research applications.
• In terms of application, the cryogenics segment held the largest share, accounting for 23.0% of the total revenue in 2024. Helium plays an indispensable role in cryogenic processes due to its extremely low boiling point, making it vital for cooling superconducting magnets used in MRI machines, nuclear reactors, particle accelerators, and other advanced scientific equipment. The growing use of cryogenics in both healthcare and research has sustained strong demand for helium in this segment.
• By end use, the medical & healthcare segment accounted for the largest share, representing 40.0% of the total revenue in 2024. The dominance of this segment is driven by helium’s extensive use in medical imaging technologies such as magnetic resonance imaging (MRI), where it serves as a coolant for superconducting magnets. Additionally, helium’s applications in respiratory treatments and other healthcare processes further strengthen its demand within this sector.
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Market Size & Forecast:
• 2024 Market Size: USD 4.1 Billion
• 2030 Projected Market Size: USD 6.06 Billion
• CAGR (2025-2030): 6.7%
• North America: Largest market in 2024
Key Companies & Market Share Insights:
Some of the key players operating in the global helium market include Air Products and Chemicals, Inc. and Linde Plc, among others. The overall industry is characterized by a highly competitive landscape, with numerous participants striving to expand their presence and strengthen their positioning. A large concentration of manufacturers, suppliers, and traders is located in North America and Europe, regions that continue to play a pivotal role in shaping the global market dynamics.
Several factors contribute to the market growth in these regions, including rapid industrialization, steady economic progress, the presence of helium-rich natural reserves, and the availability of relatively low-cost labor. These elements not only ensure a reliable supply of helium but also foster favorable conditions for production and distribution, further supporting regional competitiveness.
To maintain and expand their market share, manufacturers are actively engaging in a wide range of strategic initiatives. These include mergers and acquisitions aimed at strengthening product portfolios, partnerships and collaborations to enhance technological capabilities, capacity expansion projects to meet the growing global demand, and the launch of innovative products designed to cater to evolving end-use applications. Such measures are enabling leading companies to reinforce their competitive edge while also contributing to the overall advancement and diversification of the global helium industry.
Key Players
• Air Products and Chemicals, Inc.
• Linde Plc
• Air Liquide
• Messer Group
• Taiyo Nippon Sanso India
• MESA Specialty Gases & Equipment
• Matheson Tri-Gas Inc.
• Iwatani Corporation
• Gazprom PJSC
• Gulf Cryo S.A.L.
• IACX Energy
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Conclusion:
The helium market is on a steady upward trajectory, fueled by robust demand from critical industries such as healthcare, aerospace, energy, and electronics. Its strategic importance is underscored by its vital applications in cryogenics, scientific research, and advanced manufacturing. North America remains the most dominant regional market, backed by abundant reserves and well-established supply infrastructure. As competition intensifies—with both global conglomerates and regional players actively expanding their capabilities—the industry is poised for continued innovation and growth, driven by evolving technology needs and expanding end-use applications.
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