Helium Procurement Intelligence expected to grow at a CAGR of 6.7% from 2024 to 2030
Helium Procurement Intelligence The helium market is expected to grow at a CAGR of 6.7% from 2024 to 2030. The market is predicted to grow significantly due to the rising demand for helium utilization in aerospace, healthcare, deep-sea exploration, automotive, and manufacturing industries. In 2023, North America accounted for the highest proportion of the industry share, with more than 36%. Helium's supercooling property has led to its use in medical equipment such as MRI and NMR machines, particle accelerators, and superconducting materials due to advances in cryogenic technologies. Helium is used in the semiconductor industry to test electrical components and cool circuit boards. NASA is investing heavily in the R&D of helium to improve the efficiency of GPS-enabled vehicles. For instance, in September 2022, NASA awarded a contract of USD 149 million to Air Products and Chemicals, Linde, and Messer Group. The three leaders would provide helium of 1.4 million liter...