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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https://www.alliedmarketresearch.com/request-sample/A07825
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:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2033
|
Base
Year
|
2023
|
Market Size In
2023
|
$5.8
Billion
|
Market Size In
2033
|
$8.8
Billion
|
CAGR
|
4.3 %
|
No. Of Pages In
Report
|
350
|
Segments
Covered
|
Process, Gas Type,
End-Use Industry, And Region.
|
Drivers
|
- Industrial Growth
And Demand For Industrial Gases
- Energy Sector
Expansion And Demand For Oxygen
- Renewable Energy
Integration And Green Hydrogen Production
|
Opportunities
|
- Technological
Advancements In ASU Systems
|
Restraints
|
|
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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Tables, and Figures) @ https://bit.ly/3Wuu9d3
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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