New York, United States, Jan. 29, 2024 (GLOBE NEWSWIRE) — The global air separation equipment market will grow from US$6.1 billion in 2022 to US$10.4 billion in 2032, with a compound annual growth rate (CAGR) ) will be 5.48% forecast during the period.
Air separation equipment is the master of gas separation. They separate ordinary air into its constituent gases, usually nitrogen, oxygen and other gases. This skill is critical to many industries that rely on certain gases to operate. The ASP market is driven by demand for industrial gas. Various applications in industries such as healthcare, chemicals, metallurgy and electronics use gases such as oxygen and nitrogen, with air separation equipment being the preferred source. The healthcare industry’s dependence on medical oxygen has significantly increased the demand for air separation equipment. These plants play an important role in the production of medical grade oxygen, which is needed to treat respiratory diseases and other medical applications.
The Air Separation Equipment Market Value Chain Analysis Research Center focuses on the efficiency and environmental sustainability of air separation technologies. They explore innovative methods, materials and process improvements to stay ahead in the competitive market. After production, industrial gases must be delivered to end users. Distribution and logistics companies use extensive natural gas distribution networks to ensure safe and timely delivery of natural gas to various industries. Industry uses industrial gases produced by air separation plants for various purposes and is the final link in the value chain. Successful use of industrial gases often requires special equipment. Manufacturers of specialty equipment such as medical oxygen concentrators and semiconductor gas control systems contribute to the value chain.
Air Separation Equipment Market Opportunity Analysis The healthcare industry, especially in underdeveloped countries, offers promising prospects. The growing demand for medical oxygen in respiratory therapy, surgery and medical treatment provides a stable market for air separation equipment. With the industrialization and economic expansion of growing economies, the demand for industrial gases in industries such as chemicals, metallurgy and manufacturing is increasing. This allows air separation equipment to be installed to meet growing demand. Air separation plants for oxy-fuel combustion provide environmental and efficiency benefits important to the energy sector. As industry moves towards greener production, the demand for oxygen for environmental purposes is likely to increase. The growing popularity of hydrogen as a sustainable energy carrier opens up new opportunities for air separation plants. The industry is expanding production to meet growing consumer demand for goods. Industrial industries such as automotive, electronics and chemical industries require industrial gases produced by air separation plants for various activities. Steel demand is closely linked to commodity consumption as infrastructure development and construction projects create demand for steel. Air separation equipment provides the necessary oxygen for the steelmaking process and contributes to the rapid development of the steel industry. The growing popularity of consumer electronics has contributed to the growth of the electronics manufacturing industry. Air separation equipment helps semiconductor manufacturing and other electronics manufacturing processes by providing ultra-clean gas.
View key industry data presented in 200 pages with 110 market data tables, plus charts and graphs taken from the report: Global Air Separation Equipment Market Size by Process (Cryogenic, Non-Cryogenic) and End User (Steel, Oil and Gas) ” Natural gas, chemistry, healthcare), market forecasts by region and segment, by geography and forecast until 2032. ”
Analysis by Process The cryogenics segment holds the largest market share during the forecast period from 2023 to 2032. Cryogenic technology is particularly good at producing nitrogen and argon, two important industrial gases that are widely used. There is a high demand for cryogenic air separation as these gases are used in areas such as chemistry, metallurgy and electronics. With the development of global industrialization, the demand for industrial gases continues to grow. Cryogenic air separation systems meet the needs of growing industrial activities by producing large quantities of high purity gases. The electronics and semiconductor industries, which require ultra-pure gases, benefit from cryogenic air separation. This section specifies the exact gas purity required for semiconductor manufacturing methods.
End User Views The steel industry will hold the largest market share during the forecast period from 2023 to 2032. The steel industry relies heavily on oxygen in blast furnaces to burn coke and other fuels. Air separation equipment is critical to supplying the large quantities of oxygen required during this important step in iron production. The steel industry is affected by the growing demand for steel driven by infrastructure development and construction projects. Air separation plants are critical to meeting the steel industry’s growing demand for industrial gases. Air separation equipment helps reduce energy consumption in the steel industry. Using oxygen from air separation equipment can help save energy by making the combustion process more efficient.
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North America is expected to dominate the air separation equipment market from 2023 to 2032. North America is a major industrial center with industries as diverse as automotive, aerospace, chemicals and electronics. The demand for industrial gases in these industries has largely contributed to the growth of the ASP market. Industrial gases are used in the region’s energy sector, including power generation and oil refining. Air separation plants play a crucial role in producing oxygen for the combustion process and hence help the power sector meet the industrial gas requirements. The North American healthcare industry uses large quantities of medical oxygen. The growing demand for medical services, as well as the need for medical grade oxygen, presents business opportunities for ASP.
From 2023 to 2032, Asia Pacific will witness the fastest growth of the market. The Asia-Pacific region is a manufacturing hub with booming industries such as automobiles, electronics, chemicals and steel. Increasing demand for industrial gases across various industries is driving the growth of the ASP market. The healthcare industry in Asia Pacific is expanding, increasing the demand for medical oxygen. Air separation equipment is critical to delivering medical oxygen to hospitals and healthcare facilities. China and India, two emerging economies in the Asia-Pacific region, are rapidly industrializing. The demand for industrial gases in these expanding markets presents enormous opportunities for the ASP industry.
The report provides a proper analysis of the major organizations/companies involved in the global market and provides a comparative assessment primarily based on their product offerings, business profile, geographical distribution, corporate strategies, segmental market share and SWOT analysis. The report also provides in-depth analysis of current company news and events, including product developments, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances and more. This allows you to assess the overall competition in the market. Key players in the global air separation equipment market include Air Liquide SA, Linde AG, Messer Group GmbH, Air Products and Chemicals, Inc., E Taiyo Nippon Sanso Corporation, Praxair, Inc., Oxyplants, AMCS Corporation, Enerflex Ltd, Technex Ltd . . and other major suppliers.
Market segmentation. This study projects revenues at the global, regional and country levels from 2023 to 2032.
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