OBPAI Geek Team•2026/8/12•0 阅读
Global Industrial Gas Companies of 2026
FY2025: Linde $34.0B leads; Air Liquide ~$29.1B; Air Products $12.0B.
industrial gasLindeAir Liquide2026
Main table: FY2025 industrial-gas revenue
Compiled 2026-08-12. Ranked by latest full-year sales; FX at ~1.08 / 150 for EUR / JPY. Chemicals: global chemicals.
| # | Company | ~$B | Reported | YoY | FY end |
|---|---|---|---|---|---|
| 1 | Linde | 34.0 | $33.99B | +3% | 2025-12-31 |
| 2 | Air Liquide | ~29.1 | €26.94B | −0.4% reported; +2.0% comparable | 2025-12-31 |
| 3 | Air Products | 12.0 | $12.04B | −1% | 2025-09-30 |
| 4 | Nippon Sanso Holdings | ~8.7 | ¥1.3080T | +4.2% | 2025-03-31 |
| 5 | Air Water | ~7.2 | ¥1.0759T | +5.0% | 2025-03-31 |
| 6 | Messer | ~4.9 | €4.5B | ~flat | 2025-12-31 |
Linde leads at $34.0B. Air Liquide’s Gas & Services is €26.1B within €26.9B group revenue. Air Products’ September year closes at $12.0B. Nippon Sanso and Air Water anchor the Asia second tier; Messer remains the largest privately held industrial-gas specialist.
Segment snapshot
| Slice | 2025 | Note |
|---|---|---|
| Air Liquide Gas & Services | €26.09B (+2.0% comparable) | Bulk of group |
| Linde regional sales | Americas $15.2B; EMEA $8.5B; APAC $6.7B | External; Engineering $2.3B |
| Messer EBITDA | €1.4B (~31% margin) | Net debt €3.2B |
How we ranked
FY2025 group revenue (top six). Air Water is diversified beyond pure gases but ranked on group sales. Privatized Yingde lacks a clean public print and is board-only. Board defaults to S–D.
| Source | When | Used for |
|---|---|---|
| Linde 2025 | 2026 | $33.99B |
| Air Liquide FY2025 | 2026-02 | €26.94B |
| Air Products FY2025 | 2025-11 | $12.04B |
| Nippon Sanso FYE2025 | 2025 | ¥1.3080T |
| Messer FY2025 | 2026 | €4.5B |
| Air Water FY2025 | 2025-05 | ¥1.0759T (+5.0%) |
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