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Nitrogen Gas-Based Air Separation Unit Market Size

Report ID: GMI11961
Published Date: Oct 2024
Report Format: PDF

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Nitrogen Gas-Based Air Separation Unit Market Size

The global nitrogen gas-based air separation unit market was valued at USD 2.2 billion in 2023 and is set to grow at a CAGR of 4.7% from 2024 to 2032. The increasing demand for industrial gases particularly nitrogen across various industries is driving the nitrogen gas-based air separation unit (ASU) market. The growing emphasis on energy efficiency and sustainability in nitrogen ASU technology across industrial sectors is complementing the industry outlook.

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Manufacturers are developing energy-efficient nitrogen ASU systems to reduce power consumption and greenhouse gas emissions. For instance, In February 2024, SIAD Americas LLC, a subsidiary of SIAD Macchine Impianti has been contracted by an industrial gas company to supply an air separation unit (ASU). This ASU with a capacity of 240 metric tons per day (mTPD) will provide gaseous nitrogen to a customer in the U.S. The engineering and manufacturing of the unit will take place at SIAD MI's facilities in Italy.

Nitrogen Gas-Based Air Separation Unit Market Report Attributes
Report Attribute	Details
Base Year:	2023
Nitrogen Gas-Based Air Separation Unit Market Size in 2023:	USD 2.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.7%
2032 Value Projection:	USD 3.3 Billion
Historical Data for:	2021 to 2023
No. of Pages:	100
Tables, Charts & Figures:	15
Segments covered:	Process, End Use, & Region
Growth Drivers:	Increasing industrial demand for nitrogen Environmental regulations and sustainability goals
Pitfalls & Challenges:	High initial investment

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Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The global market for nitrogen gas-based air separation unit was reached USD 2.2 billion in 2023 and is set to grow at a 4.7% CAGR from 2024 to 2032, driven by increasing demand for industrial gases, particularly nitrogen, across various industries.

The healthcare end-use segment is expected to grow at a CAGR of over 5.6% through 2032, propelled by the increasing use of high-purity nitrogen in medical applications such as cryopreservation and pharmaceutical manufacturing.

The cryogenic-based market is expected to exceed USD 2.2 billion by 2032, due to the rising industrial demand and the growing need for hydrogen production.

The U.S. nitrogen gas-based ASU market is projected to exceed USD 2.3 billion by 2032, led by strong demand from the healthcare, manufacturing, and energy sectors, supported by government initiatives and investments.

The industry features key players such as Air Liquide, Air Products and Chemicals, AIR WATER, CRYOTEC, Enerflex, EuroChem, KaiFeng Air Separation Group, Linde plc, Messer, Praxair Technology, Ranch Cryogenics, Sichuan Air Separation Plant Group, TAIYO NIPPON SANSO CORPORATION, Technex, Universal Industrial Gases, and Yingde Gases.