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Air Separation Unit Market Size
The global air separation unit market was valued at USD 6.1 billion in 2024 and is estimated to grow at a CAGR of 4.3% from 2025 to 2034, driven by the increasing demand for industrial gases, advancements in technology, and the growing emphasis on sustainability across industries. The rise of industries such as renewable energy and the increasing adoption of electric vehicles have significantly contributed to the demand for gases like oxygen and nitrogen, further driving the growth of the ASU market.
Technological advancements, such as improved cryogenic processes, enhanced efficiency, and the integration of automation systems, are shaping the competitive landscape by offering more energy-efficient and cost-effective solutions. In particular, the trend toward more sustainable and environmentally friendly production processes is prompting a shift toward the development of smaller, modular, and compact ASUs designed to reduce energy consumption and operational costs.
How big is the air separation unit market?
The global market for air separation unit was reached USD 6.1 billion in 2024 and is projected to grow at a 4.3% CAGR from 2025 to 2034, driven by increasing demand for industrial gases and advancements in technology.
What is the size of the cryogenic air separation unit industry?
The cryogenic air separation unit industry is expected to exceed USD 6.5 billion by 2034, supported by rising industrial demand and the growing need for hydrogen production.
How is the nitrogen gas market evolving?
The nitrogen gas market is projected to grow at a CAGR of over 4.1% through 2034, led by its increasing use in industries such as chemical manufacturing, food and beverage processing, and electronics production.
What trends are shaping the U.S. air separation unit market?
The U.S. air separation unit market is set to surpass USD 1.3 billion by 2034, fueled by the transition to cleaner energy sources and the healthcare sector's demand for high-purity medical gases like oxygen.
Who are the major players in the air separation unit industry?
Key players in the air separation unit industry include Air Liquide, Air Products and Chemicals, Cryotec Anlagenbau, Kaifeng Air Separation Group, Linde, Messer, Praxair Technology, Ranch Cryogenics, Sichuan Air Separation Plant Group, Taiyo Nippon Sanso, Universal Industrial Gases, and Yingde Gases.