Air Separation Plant Market by Process (Cryogenic, Non-cryogenic), Gas (Nitrogen, Oxygen, Argon, Others), End-Use Industry (Iron & Steel, Oil & Gas, Chemical, Healthcare, Others) and Region - Global Forecast to 2026

Air Separation Plant Market by Process (Cryogenic, Non-cryogenic), Gas (Nitrogen, Oxygen, Argon, Others), End-Use Industry (Iron & Steel, Oil & Gas, Chemical, Healthcare, Others) and Region - Global Forecast to 2026

The global market for air separation plants was valued at USD 4.5 billion in 2021 and is projected to reach USD 5.9 billion by 2026, at a CAGR of 4.9% between 2021 and 2026. The global market for air separation plants is driven by strong growth in demand, especially from the iron & steel, oil & gas, chemical, healthcare, and other end use industries.

“Cryogenic process is the largest segment of the global air separation plant market, by process.”
Cryogenic technology was commercialized in 1902 and has since been used extensively by companies across multiple industries that require gases such as nitrogen, oxygen, and others. Being the oldest air separation technology available, it has evolved considerably over the years, resulting in improved efficiency and high purity of yield gases. The growing demand for fabricated metals and alloys across the globe, the increasing dependency on pure gases for enhancing metal properties, and rapid industrialization are expected to drive the air separation plant market during the next five years.

“Nitrogen is the largest segment of the air separation plant market, by gas.”
Cryogenic technology was commercialized in 1902 and has since been used extensively by companies across multiple industries that require gases such as nitrogen, oxygen, and others. Being the oldest air separation technology available, it has evolved considerably over the years, resulting in improved efficiency and high purity of yield gases. The growing demand for fabricated metals and alloys across the globe, the increasing dependency on pure gases for enhancing metal properties, and rapid industrialization are expected to drive the air separation plant market during the next five years.

“Iron & Steel is the largest segment of the air separation plant market, by end-use industry.”
Iron & steel are used in cars, appliances, roads, bridges, ships, airplanes, and in engineering and construction applications. Hence, with the development and growth of any country, the production and consumption of iron & steel increase proportionately. Countries such as China, the US, Japan, Russia, Italy, Germany, India and Brazil lead in the production and consumption of steel.

“Asia Pacific is projected to lead the air separation plant market during the forecast period.”
Market growth in the Asia Pacific region can be attributed to the increasing metal production, fabrication, and consumption in countries such as Japan, China, and India. The Asia Pacific region accounts for the highest production and consumption of steel in the world, along with one of the highest oil refining capacities. It is also the manufacturing hub of the world, with abundant heavy machinery and equipment manufacturing companies.

The break-up of profiles of primary participants for the report has been given below:
By Company Type: Tier 1—55%, Tier 2—30%, and Tier 3—15%
By Designation: C Level—21%, D Level—23%, and Others—56%
By Region: Asia Pacific—15%, North America—45%, Europe—27%, Middle East & Africa—7% & South America—6%,

Linde Plc (UK), Air Liquide SA (France), Air Products and Chemicals, Inc. (US), Taiyo Nippon Sanso Corporation (Japan), Messer Group GmbH (Germany), Daesung Industrial Co., Ltd. (South Korea), Air Water Inc. (Japan), Enerflex Ltd. (Canada), Yingde Gases Group Co., Ltd. (Hong Kong), are among the key players leading the market through their innovative offerings, enhanced production capacities, and efficient distribution channels. Other noteworthy players included in this report are INOX Air Products Private Limited (India), Hangzhou Hangyang Co., Ltd. (China), Universal Industrial Gases, Inc. (US), Nikkiso Cosmodyne, LLC. (US), and SIAD Macchine Impianti S.p.A. (Italy).

Research Coverage
This report defines, segments, and projects the air separation plant market based on process, gas, end-use industry, and region. It strategically profiles key market players and comprehensively analyzes the ranking of leading players in the market. It also tracks and analyzes competitive developments such as agreements, acquisitions, contracts, investments, and new product launches in the market.

Reasons to Buy the Report
This report is expected to help market leaders/new entrants in this market by providing them the closest approximations of revenues of the air separation plant market and its subsegments. This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape, gain insights to enhance the position of their businesses, and enable them to make suitable go-to-market strategies. The report is expected to help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.