Air Separation Unit Market to Reach $8.8 Billion, Globally, by 2033 at 4.3% CAGR: Allied Market Research

PORTLAND, Ore., Aug. 1, 2024 /PRNewswire/ -- The global air separation unit market is propelled by rise in green hydrogen production. The increasing focus on renewable energy and sustainability is creating new opportunities for ASUs in green hydrogen production. ASUs play a crucial role in electrolysis processes for producing hydrogen from water, where oxygen is a byproduct. The demand for green hydrogen, produced using renewable energy sources, is expected to grow rapidly as countries strive to reduce carbon emissions and achieve energy transition goals.

Allied Market Research published a report, titled, "Air Separation Unit Market by Process (Cryogenic Distillation and Non-Cryogenic Distillation), Gas Type (Oxygen, Nitrogen, Argon and Others), and End-Use industry (Iron and Steel, Petrochemical, Medical, Chemical Manufacturing and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the air separation unit market size was valued at $5.8 billion in 2023, and is estimated to reach $8.8 billion by 2033, growing at a CAGR of 4.3% from 2024 to 2033.

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Prime determinants of growth 

The global air separation unit market is driven by rapid technological advancements in air separation unit (ASU) systems. Manufacturers of ASUs are constantly engaged in R&D activities for improving efficiency, reducing energy consumption, and enhancing operational reliability. Modern ASUs incorporate advanced cryogenic distillation processes, sophisticated control systems, and innovative heat exchange technologies to optimize gas separation and liquefaction processes. For instance, the development of more efficient heat exchangers and distillation columns has significantly improved the energy efficiency of ASUs, reducing operational costs and environmental footprint. Additionally, digitalization and automation in ASU operations enable real-time monitoring, predictive maintenance, and remote control, enhancing overall system performance and reliability. However, high operational and maintenance costs of air separation units may restrain the growth of the air separation unit market during the forecast period. 

Report coverage & details: 

The cryogenic segment to maintain its lead position during the forecast period 

The demand for cryogenic air separation units (ASUs) is increasing due to their critical role in supplying large volumes of high-purity gases such as oxygen, nitrogen, and argon for diverse industrial applications. Cryogenic ASUs utilize cryogenic distillation technology to separate and liquefy air components at extremely low temperatures, ensuring efficient and cost-effective production of industrial gases. These gases are essential in industries such as steelmaking, chemicals, healthcare, electronics, and aerospace. As industries expand globally and seek reliable and sustainable sources of industrial gases, the scalability, efficiency, and reliability of cryogenic ASUs make them indispensable. Additionally, advancements in cryogenic technology and energy efficiency further drive the adoption of cryogenic ASUs to meet growing industrial and environmental demands. 

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The oxygen segment to maintain its lead position during the forecast period 

The demand for cryogenic air separation units (ASUs) specifically for oxygen is increasing due to several factors. Oxygen produced by cryogenic ASUs is crucial for various industries and applications, including healthcare, metal processing, chemicals, and combustion processes. The healthcare sector, in particular, relies on oxygen for respiratory therapies, anesthesia, and emergency medical treatments, with heightened demand during health crises such as the COVID-19 pandemic. In industrial applications, oxygen from cryogenic ASUs enhances combustion efficiency, supports oxy-fuel processes in steelmaking, and enables cleaner and more efficient chemical reactions. As industries prioritize operational efficiency, reliability, and sustainability, the scalable and energy-efficient nature of cryogenic ASUs positions them as essential infrastructure for ensuring a reliable supply of high-purity oxygen to meet growing global demand. 

North America to maintain its dominance by 2033 

Countries in Asia-Pacific are experiencing rapid industrial growth and manufacturing expansion across sectors such as steel, chemicals, electronics, and healthcare. Cryogenic ASUs are essential for producing large volumes of high-purity oxygen, nitrogen, and argon required for industrial processes. Oxygen, in particular, is used in steelmaking for blast furnace operations and oxy-fuel combustion processes, enhancing process efficiency and reducing emissions. The expansion of manufacturing capabilities in APAC countries drives the demand for reliable and efficient industrial gas supply systems, positioning cryogenic ASUs as critical infrastructure for supporting industrial productivity and economic development.

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Leading Market Players: - 

• Linde PLC 
• Air Products and Chemicals, Inc. 
• Nikkiso 
• ING. L. & A. BOSCHI ITALY 
• Bhuruka Gases Limited 
• Hangzhou Nuzhuo Technology Group Co., Ltd. 
• TAIYO NIPPON SANSO CORPORATION 
• Brise Chemicals 
• Comi Polaris Systems 
• INOX-Air Products Inc. 
• Maddox Industrial Group. 

The report provides a detailed analysis of these key players in the global air separation unit market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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SOURCE Allied Market Research