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Oil & Gas Air Separation Unit Market Trends

Report ID: GMI11431
Published Date: Sep 2024
Report Format: PDF

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Oil & Gas Air Separation Unit Market Trends

Stricter environmental regulation & sustainable gaols along with increasing advancements in air separation unit technologies is boosting the product adoption. Stringent environmental regulations are pressuring oil and gas companies to reduce emissions and adopt cleaner technologies. ASUs provide efficient solutions for CO2 capture and sequestration, aligning with regulatory and sustainability goals, thus driving market growth. In addition, technological advancements like energy-efficient cryogenic distillation and improved gas separation processes are enhancing ASU performance, reducing operational costs for oil and gas companies. This results in increased adoption of ASUs for gas purification and extraction, thereby contributing to the overall market growth.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of oil & gas air separation unit was worth over USD 864.5 million in 2023 and is projected to grow at a CAGR of 4% from 2024 to 2032, driven by the increasing demand for hydrogen production, oil refinery operations, and the adoption of ASUs in the oil and gas industry.

Nitrogen gas is expected to grow at a rate of over 4% through 2032, due to the increasing focus on sustainability and regulatory compliance

The U.S. oil & gas air separation unit market is projected to surpass USD 135 million by 2032. This growth is driven by robust exploration activities, rising energy demands, and the need for high-purity gases in enhanced oil recovery and refining processes.

Major companies in the oil & gas ASU market include Air Liquide, Linde, AMCS, Cryotec Anlagenbau, and Taiyo Nippon Sanso Corporation. These companies are integrating advanced ASU technologies into their production processes to secure a steady supply of gases and strengthen their competitive position.