Linde

What Linde does

Linde is the world's largest industrial gas company, operating as a gases and engineering platform serving industrial customers in more than 80 countries. Founded in 1879 by Carl von Linde and formed in its current structure through the 2018 merger of Linde AG with Praxair, the company is publicly traded on NASDAQ (ticker: LIN) through its Irish-domiciled parent Linde plc, with Linde Inc. serving as the primary U.S. operating subsidiary headquartered in Danbury, Connecticut. Linde produces atmospheric gases (nitrogen, oxygen, argon), hydrogen, specialty gases, and engineered gas application technologies via on-site air separation plants, merchant bulk delivery, and packaged gas cylinders. Its proprietary technology portfolio includes JETCOOL and NICOOL reactor cooling services, SANDJET furnace tube decoking, IN2ERT accelerated purging, HELITEC/SEEPER TRACE/TRACER TIGHT leak detection, ADDVance Laser230 for additive manufacturing, SOLVOX aquaculture oxygen systems, ADALKA pulp/paper stabilization, VITRON glass oxygen supply, and NITROBOOST supplemental refrigeration.

Linde's revenue model combines subscription-style recurring revenue from long-term on-site supply agreements and bulk gas contracts with one-time equipment sales, professional industrial services, and hardware sales (e.g., mobile hydrogen refueling stations). Pricing is contract-based and negotiated by volume and delivery mode. The company serves a diversified enterprise customer base across semiconductor (Intel, TSMC, Samsung), chemicals, food and beverage, metals, oil and natural gas, healthcare, glass, transportation, refining, and space exploration verticals. Go-to-market is sales-led through regional U.S. offices and direct enterprise field sales targeting large industrial customers. Linde Green, a sub-brand of low-carbon atmospheric gases and hydrogen produced with 100% carbon-free energy, addresses growing customer decarbonization demand. As of 2025, Linde reported $34 billion in sales and is investing in clean energy infrastructure including a $75 million+ North Carolina air separation facility and a $10 billion clean energy project backlog.

Name

Linde

Legal name

Linde Inc.

Website

https://lindeus.com

Company type

Public

Founded year

1879

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Linde is the world's largest industrial gas company, producing atmospheric gases, hydrogen, and specialty gases through on-site plants, bulk delivery, and packaged distribution. It serves enterprise customers across semiconductor, chemicals, food and beverage, metals, healthcare, and energy, with proprietary process technologies and a 2025 revenue base of $34 billion.

Ownership category

akta.pro rank

Product category

Industrial Gases

NAICS

Industrial Gas Manufacturing (32512)

SIC

Wholesale-Chemicals & Allied Products (5160), Wholesale-Industrial Machinery & Equipment (5084)

akta.pro primary industry

Air Separation (Oxygen/Nitrogen/Argon) (IMAEACAA)

akta.pro secondary industries

Electronics & Semiconductor High-Purity Gases (IMAEACAG), Medical & Healthcare Gases (IMAEACAF), Food & Beverage Gases (Carbonation/Freezing/Packaging) (IMAEACAI), Gas Handling Equipment & Storage (Cylinders/Tanks/Valves) (IMAEACAL)

Keywords

• Industrial gas supply
• Air separation technology
• Hydrogen production infrastructure
• Cryogenic freezing systems
• Gas application engineering

Headquarters

HQ city

Bridgewater

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Industrial Gases Sales: Sale of industrial gases (nitrogen, oxygen, argon, hydrogen, specialty gases) to industrial customers through long-term contracts and merchant supply. Linde is the world's largest industrial gas company with 2025 sales of $34 billion.
2. On-Site Gas Supply: On-site air separation facilities that produce gases directly at customer locations under long-term supply agreements.
3. Equipment and Technologies: Sale of cryogenic freezing systems, gas application equipment, and process technologies including cryogenic chillers, nitrogen pumping units, and specialty gas delivery systems.
4. Linde Services Inc. Industrial Services: Industrial and petrochemical services including pipeline services, tank and terminal services, leak detection, and reactor cooling services.
5. Mobile Hydrogen Refueling Stations: Mobile hydrogen fueling stations and infrastructure for hydrogen fuel cell fleet vehicles.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels3 records

Core offering

Linde produces and distributes industrial gases (nitrogen, oxygen, argon, hydrogen, carbon dioxide, and specialty gases) via on-site air separation plants, merchant bulk delivery, and packaged cylinders to industrial customers worldwide. The company also supplies proprietary gas application equipment (cryogenic freezing and chilling systems, hydrogen refueling infrastructure, oxygen diffusion systems) and offers industrial services (leak detection, reactor cooldown and purging, pipeline and petrochemical services) under long-term contracts.

Product overview

Linde is a leading global industrial gases and engineering company that operates as a platform-plus-modules business delivering gases, gas mixtures, equipment, and industrial services. The core offering includes atmospheric gases (nitrogen, oxygen, argon) and specialty gases produced through various supply modes. The product portfolio centers on the Linde Green™ sub-brand offering low carbon intensity atmospheric gases and hydrogen for decarbonization applications. Equipment offerings include cryogenic freezing and chilling systems, aquaculture oxygen systems, and specialized technologies like SOLVOX®, ADALKA™, VITRON, and NITROBOOST®. The Linde Services Inc. subsidiary provides industrial and petro-chemical services including leak detection (HELITEC®, SEEPER TRACE®, TRACER TIGHT®), pipeline services, tank and terminal services, and specialty services such as JETCOOL®, NICOOL®, SANDJET™, and IN2ERT™ for refineries, chemical plants, and pipeline systems. Hydrogen mobility solutions include mobile hydrogen refueling stations and infrastructure for aviation, marine, rail, and ground transportation sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Linde Green™ Nitrogen Atmospheric nitrogen produced using 100% carbon-free energy for industrial processes such as metal fabrication, enabling customers to reduce their carbon footprint.
• Linde Green™ Oxygen Atmospheric oxygen produced with renewable energy, important in glass and metals industries for carbon reduction applications.
• Linde Green™ Argon Inert atmospheric argon produced with renewable energy, used primarily in welding and other industrial processes to reduce carbon footprint.
• Low Carbon Intensity Hydrogen Hydrogen produced with lower carbon intensity, used as a clean energy component for industrial decarbonization and hydrogen mobility applications.
• Cryogenic Freezing & Chilling Systems Cryogenic freezing and chilling systems for food processing including bakery, prepared foods, poultry, produce, red meat and pork, and seafood applications.
• SOLVOX® Oxygen Diffusion Systems Oxygen dissolution systems for recirculating aquaculture systems (RAS) to optimize oxygen levels in fish farming operations.
• ADALKA™ Process Stabilization Process stabilization technology for pulp and paper processing industry.
• VITRON Oxygen Supply Oxygen supply technology for glass industry applications.
• NITROBOOST® Supplemental Refrigeration System Supplemental refrigeration system that adds to or returns lost cooling capacity to existing mechanical freezers.
• Mobile Hydrogen Refueling Station Skid-mounted hydrogen fueling dispenser with hydrogen delivery trailer capable of holding two hydrogen container units for fast and flexible hydrogen fueling of fuel cell fleet vehicles.
• Mobile Nitrogen Pumping Service Precisely controlled mobile pumping units delivering 99.9+% pure nitrogen for a wide range of industries, with the ability to supply nitrogen over wide temperature ranges.
• JETCOOL® Accelerated Cooling Proprietary recycling system for reactor cooldown and purging, delivering up to 50% reduction in nitrogen gas usage and up to 50% reduction in cooldown time.
• NICOOL® Accelerated Reactor Cooldown Nitrogen-assisted cool down service that delivers cold nitrogen for rapid reduction of temperature of hot catalytic reactor beds, cooling most reactors to less than 100°F in 8-18 hours.
• SANDJET™ Furnace Tube Decoking Service Service that rapidly removes coke and scale deposits from furnace tubes through low angle impacts of particles propelled by high velocity stream of pure nitrogen gas, cleaning to a white-metal blasted finish.
• IN2ERT™ Accelerated Purging & Cleaning Service Accelerated cleaning and purging technology that absorbs hydrocarbons while encapsulating internal contaminants to prevent emission releases and lower LEL below 10%.
• SEEPER TRACE® Pipeline Leak Detection Walkover leak detection service for long-distance pipelines that detects leaks as small as 2.5 gallons per day without service interruption or excavation.
• TRACER TIGHT® Leak Detection Technology Highly accurate and sensitive leak detection technology for aboveground storage tanks, underground storage tanks, and buried piping that can detect leaks as small as 1 gallon per day without interruption or excavation, exceeding U.S. EPA requirements for precision tightness testing.
• HELITEC® Leak Detection Service Helium tracer-based leak detection service for buried pipelines and plant piping that uses nitrogen as carrier gas with sensitive helium detector to locate leaks under normal operating pressure.
• Hydrogen Rail Systems Hydrogen refueling infrastructure and technology for rail systems, supporting a carbon neutral economy with approximately 29% less energy compared to diesel and zero local emissions.
• Hydrogen Marine Fueling Hydrogen fueling solutions for ferries and maritime vessels, supporting zero-emission ships as part of marine sector's transition to climate-friendly fuel.
• ADDVance® Laser230 Bespoke gas technology used to optimize the additive manufacturing of copper.
• Liquid Nitrogen Tunnel Freezers Cryogenic liquid nitrogen tunnel freezers for the food industry, designed to extend freshness through rapid freezing technology. Offered via the Linde LienHwa joint venture in Taiwan and China.

Quantifiable outcome

• Liquid nitrogen rapid freezing reduces moisture loss in prepared foods from 5-10% to just 1-3%, preserving an additional 40-70kg of saleable product per tonne.
• +5 more outcomes

Named customers3 records

Segments11 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature15 records

Partnerships

One partnership is on record.

• LienHwacoreStrategic or Co-development PartnerLinde LienHwa is a joint venture between Linde and LienHwa, a Taiwan-based industrial gas company. The joint venture operates in Taiwan and China, combining Linde's global industrial gas expertise with LienHwa's regional market knowledge to serve customers in the region with cryogenic solutions and industrial gases.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Others

• Chart Industries: Supplier of cryogenic equipment, heat exchangers, and air-separation components used by Linde and its competitors. Adjacent ecosystem participant — not a direct gas seller, but Linde uses comparable cryogenic/freezing equipment platforms in its food and industrial gas systems.
• Praxair (legacy entity, now part of Linde plc): Former U.S. industrial gas major that merged with Linde AG in 2018 to form Linde plc. Useful historical/structural comparable for understanding Linde's U.S. customer footprint, ASU fleet, and on-site contract base.

Direct peers

• Messer Group: Privately held German industrial gas company, the world's largest privately held player in the space and a direct peer with comparable product lines (atmospheric gases, specialty gases, application technology) competing with Linde especially in Europe and the Americas.
• Air Products and Chemicals: U.S.-based global industrial gas company directly competing with Linde across merchant, on-site, and packaged gas supply. Both serve semiconductor fabs, hydrogen mobility, and industrial process customers with overlapping technology and project development capabilities.
• Air Liquide: French-headquartered global industrial gas company and the closest direct competitor to Linde. Both companies produce atmospheric gases (oxygen, nitrogen, argon), hydrogen, and specialty gases, serve overlapping semiconductor/food/healthcare/chemicals customers with on-site supply agreements, and compete head-to-head for fab contracts and hydrogen projects worldwide.
• Nippon Sanso (Taiyo Nippon Sanso): Japanese-headquartered global industrial gas company with strong semiconductor gases franchise. Direct competitor to Linde in electronics-grade and UHP gas supply, particularly across Asia and increasingly in U.S. fab markets.

Regional players

• Iwatani Corporation: Japan's largest hydrogen and industrial gas supplier with strong hydrogen mobility presence. Comparable to Linde in atmospheric gases and cryogenic equipment, primarily competing in Asia rather than directly in Linde's core U.S./European footprint.
• Yingde Gases Group: Largest independent Chinese on-site industrial gas supplier and a meaningful Linde competitor in Greater China. Comparable business model focused on long-term on-site supply contracts to steel, chemicals, and electronics customers in China.

Emerging players

• SOL Group: Italy-based industrial and medical gas company. Comparable to Linde in merchant atmospheric gases, medical oxygen, and homecare — competes primarily in Southern Europe and represents an emerging/specialized peer relative to Linde's global reach.
• Nel ASA: Norwegian electrolyzer and hydrogen fueling station specialist focused on green hydrogen production and mobility infrastructure. Comparable to Linde's hydrogen mobility strategy (trains, marine, mobile refueling) but as a niche emerging player in the upstream production equipment segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/lindegases_na

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Linde