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Nitrogen Gas-Based Air Separation Unit Market Trends

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

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Nitrogen Gas-Based Air Separation Unit Market Trends

The nitrogen gas-based air separation unit (ASU) market growth driven by rising demand across various industries such as chemicals, electronics, healthcare, and manufacturing. The increasing adoption of on-site nitrogen generation to reduce dependency on external suppliers and lower operational costs. The shift towards energy-efficient and sustainable technologies is also gaining momentum, with companies investing in advanced ASUs that reduce carbon emissions and energy consumption.

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.