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Oil & Gas Air Separation Unit Market Size
- Report ID: GMI11431
- Published Date: Sep 2024
- Report Format: PDF
Oil & Gas Air Separation Unit Market Size
Oil & Gas Air Separation Unit Market was valued at USD 864.5 million in 2023 and is estimated to grow at a CAGR of 4% from 2024 to 2032. Increasing inclination towards the hydrogen production along with rising oil refinery operations owing to the increasing energy needs across the globe is augmenting the business landscape. Rising emphasis on hydrogen as a clean energy source is making AIR SEPARATION UNITS (ASUs) more crucial in the oil & gas application market. They produce the large amounts of oxygen needed for hydrogen generation through processes like steam methane reforming and gasification. This trend is driving up demand for ASUs in the oil and gas sector.
The increasing demand for refined petroleum products necessitates efficient refinery processes and the product play a crucial role in these processes by producing high-purity gases, particularly oxygen and nitrogen. These gases are essential for operations such as catalytic cracking and desulfurization, thereby driving the demand for advanced ASUs in refineries.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Oil & Gas Air Separation Unit Market Size in 2023: | USD 864.5 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4% |
| 2032 Value Projection: | USD 1.2 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 100 |
| Tables, Charts & Figures: | 15 |
| Segments covered: | Process, Gas, & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Oil & Gas Air Separation Unit Market Scope
