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Cryogenic Air Separation Unit Market Size
- Report ID: GMI10781
- Published Date: Aug 2024
- Report Format: PDF
Cryogenic Air Separation Unit Market Size
Cryogenic Air Separation Unit Market was valued at USD 4.1 billion in 2023 and is predicted to showcase about 4.9% CAGR between 2024 and 2032, driven by rising demand across various industries, including healthcare, manufacturing, and energy. Cryogenic ASUs are critical for producing high-purity industrial gases like oxygen, nitrogen, and argon, which are essential for numerous applications.
Rapid growth in industrial applications along with expansion in energy & power sectors across the globe will add to the market growth. Industrial applications represent a substantial portion of the ASU market in manufacturing sectors, including steel, chemical, and electronics industries, rely heavily on high-purity gases. For instance, oxygen is used in steelmaking, while nitrogen is crucial for creating an inert environment in electronics manufacturing.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Cryogenic Air Separation Unit Market Size in 2023: | USD 4.1 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 4.9% |
| 2032 Value Projection: | USD 6.2 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 100 |
| Tables, Charts & Figures: | 15 |
| Segments covered: | Gas, End Use, & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Cryogenic Air Separation Unit Market Scope
