The report predicts the global Air Separation Plant Market to grow at a healthy CAGR over the forecast period from 2022-2031.
“The global air separation plant market is projected to grow at a CAGR of 5.3% from 2022 to 2031”
The global air separation plant market is projected to reach USD 7.27 billion by 2031, at a CAGR of 5.3% from 2022 to 2031. The major market is the growing demand for industrial gases with high purity levels from key end-use industries. The growth is also driven by stringent safety and environmental regulations, growing demand from the healthcare sector, increased demand for photovoltaic products and plasma display channels, and growing industrial development activities in MEA. The market for air separation plants is expanding at a good pace; however, it still faces some restraints. High energy consumption, sensitivity to environmental conditions, improper component selection, poor maintenance, high cost, and difficulty in fabrication are some of the major problems in some plants.
“Oil & gas is the fastest-growing end-user segment in the global air separation plant market”
The air separation plant market, by end user, was dominated by the iron & steel sector. However, the oil & gas segment is projected to grow at the highest CAGR between 2022 and 2031. The growth of this sector is due to the rising demand from end applications of the oil & gas industry, including enhanced oil recovery, leak testing, and so on.
“Cryogenic is the fastest-growing process segment in the global air separation plant market”
The cryogenic segment accounted for the largest share of the global air separation plant market in 2015, and is projected to grow at the highest CAGR from 2022 to 2031. The major driver for the growth of this segment is the growing demand for industrial gases with high purity levels from key end-use industries.
“Asia-Pacific led the global air separation plant market in 2015”
The Asia-Pacific region accounted for the largest share of the global air separation plant market in 2015. The air separation plant market in Asia-Pacific is projected to grow at the highest CAGR in the coming years. The growth of this regional market can be attributed to the increased demand for air separation plants from the iron & steel, oil & gas, and chemical end-user segments in the region.
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Profile break-up of primary participants for the report:
- By Company Type: Tier 1 – 55 %, Tier 2 – 20%, Tier 3 – 25%
- By Designation: C level – 75%, Manager level – 25%
- By Region: North America – 10%, Europe – 20%, Asia-Pacific – 30%, Middle East & Africa – 20%, South America – 20%
Furthermore, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. Key players have been profiled in the study, including Air Liquide S.A. (France), Linde AG (Germany), Praxair, Inc. (U.S.), Air Products and Chemicals, Inc. (U.S.), Taiyo Nippon Sanso Corporation (Japan), Messer Group GmbH (Germany), Universal Industrial Gases (U.S.), Enerflex Ltd. (Canada), and Technex Ltd. (Kiev), among others.
In this report, the air separation plant market has been segmented based on process, gas, end user, and region. The market is segmented into six regions, namely, Asia-Pacific, North America, Europe, Middle East, South America, and Africa. It provides detailed information regarding key factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analysis–industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the air separation plant market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on air separation plants offered by the top players in the global air separation plant market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for air separation plants across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global air separation plant market