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Cryogenic Air Separation Unit Market Trends

Report ID: GMI10781
Published Date: Aug 2024
Report Format: PDF

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Cryogenic Air Separation Unit Market Trends

The energy sector particularly the growth of renewable energy and hydrogen production, is boosting demand for cryogenic ASUs. Hydrogen, often produced through electrolysis, requires cryogenic separation to achieve high purity. Additionally, nitrogen is used in various energy applications, including enhanced oil recovery and maintaining inert atmospheres in power plants. Moreover, technological innovations are enhancing the efficiency and capabilities of cryogenic ASUs. Advances in materials science, automation, and process control are leading to more efficient and cost-effective units. These improvements are reducing operational costs and increasing the appeal of cryogenic ASUs across various industries.

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of cryogenic air separation unit was worth over USD 4.1 billion in 2023 and is set to grow at a CAGR of over 4.9% from 2024 to 2032, driven by rising demand across various industries.

The nitrogen-based segment in the cryogenic air separation unit market is expected to surpass USD 2.2 billion by 2032, driven by stringent environmental regulations and the global push for sustainability.

Asia Pacific cryogenic air separation unit market is projected to exceed USD 2.3 billion by 2032, driven by rapid industrialization and urbanization.

Air Liquide, Air Products and Chemicals, Inc, AIR WATER INC, AMCS Corporation, CRYOTEC Anlagenbau GmbH, Enerflex Ltd, KaiFeng Air Separation Group Co., LTD, and Linde plc among others.