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Rising Energy Demand To Propel Growth In Air Separation Unit Market Emerges as a Core Driver of the Air Separation Unit Market in 2025
Air Separation Unit
What Is the Expected CAGR for the Air Separation Unit Market Through 2025?
The size of the air separation unit market has seen significant growth in the recent past. The market value is predicted to increase from $5.59 billion in 2024 to $5.93 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.0%. The growth during the historic period was prompted by factors such as an increase in metal production, the expansion of chemical manufacturing, a surge in chemical production, increased urbanization and industrialization, and greater government investments and policies.
What's the Projected Size of the Global Air Separation Unit Market by 2029?
Over the coming years, the air separation unit market is projected to experience substantial growth, with predictions indicating a size of $7.42 billion by 2029. This reflects a compound annual growth rate (CAGR) of 5.8%. Factors driving this anticipated growth during the forecast period include an expanding array of industrial sectors, an escalating demand for industrial gases, an evolving energy sector, a rising call for medical oxygen in healthcare establishments, and an increased usage of nitrogen in food preservation and packaging activities. Foreseen trends for this period encompass progress in energy-efficient technologies, the incorporation of AI for process improvements, the acceptance of compact and modular designs, innovative measures in cryogenic air separation technologies, improvement in safety features, and the formulation of environment-friendly solutions to lower carbon emissions.
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Top Growth Drivers in the Air Separation Unit Industry: What's Accelerating the Market?
The surge in energy needs is projected to fuel the expansion of the air separation unit market in the future. Factors such as global population increase, heightened industrial operations, and greater usage of energy-heavy technologies and appliances are driving up energy demand. Air separation units play a vital role in meeting these energy requirements by supplying necessary gases like oxygen and nitrogen, enabling efficient combustion and process optimization in energy production and industrial applications. For example, the Energy Information Administration, a US governmental organization, projected in April 2023 that the overall energy consumption in the United States may rise anywhere from 0% to 15% from 2022 to 2050. Notably, in the industrial sector, energy use is predicted to increase by approximately 5% to 32% within this timespan. Hence, the surge in energy need is a critical factor propelling the growth of the air separation unit market.
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What Trends Will Shape the Air Separation Unit Market Through 2029 and Beyond?
Prominent firms in the air separation unit market are employing a collaborative approach to augment the availability of argon, oxygen, and nitrogen in Eastern European regions. These strategic partnerships leverage the unique capabilities and assets of each entity to attain mutual objectives and success. For instance, in August 2023, the SIAD Group, an Italian chemical conglomerate, collaborated with SOL Group, another Italian chemical company, to establish a joint enterprise called OXY Technical Gases in Croatia. The venture, where SIAD owns a 60% stake and SOL controls 40%, is aimed at boosting the accessibility of nitrogen, oxygen, and argon in Eastern Europe, especially in Croatia and the surrounding nations. In line with this enterprise, OXY Technical Gases is investing $56.1 million in the construction of an air separation unit (ASU) in Velika Gorica, Croatia, near Zagreb. The ASU will enhance the provision of high-grade liquid oxygen, nitrogen, and argon, chilled to cryogenic temperatures, to hospitals, industrial establishments, and other consumers throughout the region.
What Are the Main Segments in the Air Separation Unit Market?
The air separation unitmarket covered in this report is segmented -
1) By Process: Cryogenic, Non-Cryogenic
2) By Gas: Nitrogen, Oxygen, Argon, Other Gases
3) By End Use: Iron And Steel, Oil And Gas, Healthcare, Chemicals, Other End Uses
Subsegments:
1) By Cryogenic Air Separation Units: Single-Column Cryogenic Units, Double-Column Cryogenic Units, Mixed Refrigerant Systems
2) By Non-Cryogenic Air Separation Units: Pressure Swing Adsorption (PSA) Systems, Membrane Separation Systems, Vacuum Pressure Swing Adsorption (VPSA) Systems
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Which Top Companies are Driving Growth in the Air Separation Unit Market?
Major companies operating in the air separation unit market are Linde Plc, Air Liquide S.A., Parker Hannifin Corporation, Atlas Copco AB, Air Products and Chemicals Inc., Nippon Sanso Holdings Corporation, Messer Group GmbH, Matheson Tri-Gas Inc., Yingde Gases Group Co. Ltd., Enerflex Ltd., Gulf Cryo, Cryogenmash, SIAD Macchine Impianti S.p.A., Bhoruka Gases Limited, MVS Engineering Pvt. Ltd., Novair Industries AB, CRYOTEC Anlagenbau GmbH, AMCS Corporation, Ranch Cryogenics Inc., Buzwair Industrial Gases Factories, The Southern Gas Limited, Shanghai Chinllenge Gases Co. Ltd., Kaifeng Air Separation Group Company Limited, AMCS Corporation, Sichuan Air Separation Plant Group
Which Regions Will Dominate the Air Separation Unit Market Through 2029?
Asia-Pacific was the largest region in the air separation unit market in 2024 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the air separation unit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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