The air separation plant market is projected to grow from USD 5.4 billion in 2023 to USD 6.8 billion by 2028, at a CAGR of 4.6% from 2023 to 2028. Industries are being forced to invest in dependable and effective air separation systems by stringent government laws and safety standards connected to the use of industrial gases. The air separation plant market is expanding due to restrictions regarding gas purity, storage, and transportation.

“By process, the cryogenic segment is estimated to be the fastest-growing segment of the air separation plant market from 2023 to 2028.”
Based on the process, cryogenic is estimated to be the fastest-growing segment during the forecast period. Industrial gases like oxygen, nitrogen, and argon can be produced on a massive scale by using cryogenic air separation. The cryogenic technique makes it possible to separate and purify air components effectively, assuring a steady supply of gases in large numbers. Cryogenic air separation technology has advanced recently, increasing energy effectiveness, better process control, and purer generated gases. These technological developments increase the appeal of cryogenic air separation plants to industries, increasing demand.

“By gas, the nitrogen segment is estimated to be the fastest-growing segment of the air separation plant market from 2023 to 2028.”
Based on gas, nitrogen is estimated to be the fastest-growing segment during the forecast period. Nitrogen is a highly demanded industrial gas due to its adaptability and variety of uses, which ensures a continual demand for nitrogen output from air separation plants. The oil & gas sector uses nitrogen for purging, cleaning, and enhanced oil recovery (EOR) procedures. Additionally, nitrogen is used in gas blanketing to shield equipment from corrosion and stop the creation of explosive combinations.

“By end-use industry, the iron & gas segment is estimated to be the fastest-growing air separation plant market segment from 2023 to 2028.”
Based on the end-use industry, the end-use industry is estimated to be the fastest-growing segment during the forecast period. The iron and steel industry routinely uses oxygen enrichment to increase combustion effectiveness and lower energy usage. Various steelmaking processes, including oxygen furnaces, oxygen converters, and ladle furnaces, all rely on oxygen. Air separation plants provide high-purity oxygen for use in various operations. The adoption of oxygen enrichment technologies drives the demand for air separation plants.

“The air separation plant market in the Asia Pacific region is projected to witness the highest CAGR during the forecast period.”
The Asia Pacific region is projected to register the highest CAGR in the air separation market from 2023 to 2028. The Asia Pacific region is known for its ongoing innovation and technological developments. Investments in air separation plants need to consider eco-friendly practices and technologies due to the region’s growing emphasis on environmental sustainability and energy efficiency. Manufacturers of air separation plants in the area are investing in R&D to increase plant productivity, increase automation, and lower energy usage. These developments increase the appeal of air separation plants to industries, hence raising demand.

Profile break-up of primary participants for the report:
  • By Company Type: Tier 1 – 55%, Tier 2 – 30%, and Tier 3 – 15%
  • By Designation: C-level Executives – 21%, Directors – 23%, and Others – 56%
  • By Region: North America – 45%, Europe –27%, Asia Pacific – 15%, South America-7% , and Middle East & Africa-6%

The air separation plant report is dominated by players such as Linde Plc (UK), Air Liquide SA (France), Air Products and Chemicals, Inc. (US), Taiyo Nippon Sanso Corporation (Japan), Messer Group GmbH (Germany), Daesung Industrial Co., Ltd. (South Korea), Air Water Inc. (Japan), Enerflex Ltd. (Canada), Yingde Gases Group Co., Ltd. (Hong Kong), Inox Air Products Private Limited (India), Hangzhou Hangyang Co., Ltd. (China), Universal Industrial Gases, Inc. (US), Nikkiso Cosmodyne, LLC. (US) and others.

Research Coverage:
The report defines, segments, and projects the air separation plant market size based on process, gas, end-use industry, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as acquisitions, agreements, contracts, divestment, expansion, investment, joint venture, mergers, and new product development undertaken by them in the market.

Reasons To Buy the Report:
The report is expected to help the market leaders/new entrants by providing them with the closest approximations of revenue numbers of the air separation plant market and its segments. This report is also expected to help stakeholders understand the market’s competitive landscape better, gain insights to improve the position of their businesses and make suitable go-to-market strategies. It also enables stakeholders to understand the market’s pulse and provides information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (growing demand for industrial gases from the dynamic manufacturing sector), restraints (high cost associated with fabrications, component assembly, and operations), opportunities (emerging application from glass, gasification, and gas to liquid industries), and challenges (development of affordable as well as effective technologies) influencing the growth of the air separation plant market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research &
  • development activities in the air separation plant market.
  • Market Development: Comprehensive information about lucrative markets – the report analyses
  • the air separation plant market across varied regions.
  • Market Diversification: Exhaustive information about new products & services, untapped
  • geographies, recent developments, and investments in the air separation plant market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service

offerings of leading players like Linde Plc (UK), Air Liquide SA (France), Air Products and Chemicals, Inc. (US), Taiyo Nippon Sanso Corporation (Japan), Messer Group GmbH (Germany), among others in the air separation plant market.