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Air Separation Plant Market Poised to Reach $6.8 Billion by 2028

The report "Air Separation Plant Market by Process (Cryogenic, Non-cryogenic), Gas (Nitrogen, Oxygen, Argon), End-Use Industry (Iron & Steel, Oil & Gas, Chemical, Healthcare), and Region (North America, APAC, Europe, RoW) - Global Forecast to 2028", is expected to grow from USD 5.4 billion in 2023 to USD 6.8 billion by 2028, at a CAGR of 4.6%.

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Air Separation Plant Market Poised to Reach $6.8 Billion by 2028

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  1. Air Separation Plant Market worth $6.8 billion by 2028- Exclusive Report by MarketsandMarkets™ The report "Air Separation Plant Market by Process (Cryogenic, Non-cryogenic), Gas (Nitrogen, Oxygen, Argon), End-Use Industry (Iron & Steel, Oil & Gas, Chemical, Healthcare), and Region (North America, APAC, Europe, RoW) - Global Forecast to 2028", is expected to grow from USD 5.4 billion in 2023 to USD 6.8 billion by 2028, at a CAGR of 4.6%. Due to rapid urbanization and infrastructural development worldwide, emerging economies need a consistent supply of industrial gases for manufacturing, building, and healthcare facilities. Air separation plants are essential for breaking down air into its three main constituents, oxygen, nitrogen, and argon, which are used in a variety of industrial operations. To meet the expanding industrial and infrastructure needs, there is an increase in the demand for air separation plants. Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=210435735 By process, the cryogenic segment accounted for the highest air separation plant market share from 2023 to 2028. The cryogenic segment, by process, the market accounted for the highest share. To produce medical-grade oxygen and nitrogen, which are utilized in healthcare facilities for respiratory therapy, anesthesia, and other medical purposes, cryogenic air separation plants are required. Medical-grade oxygen from cryogenic facilities is necessary for patients who need prompt respiratory support in emergency departments and intensive care units (ICUs). The need for cryogenic air separation facilities in the healthcare industry is rising due to the growing population and the development of healthcare infrastructure. By gas, the nitrogen segment accounted for the highest air separation plant market share from 2023 to 2028. The nitrogen segment, by gas, the market accounted for the highest share. Nitrogen is used in various industries, such as in the oil & gas industry nitrogen is used to purge equipment, tanks, and pipelines of toxic

  2. vapors & gases and to maintain an inert atmosphere for storing flammable liquids. In the steel industry, nitrogen is used to treat melt in steel manufacturing and as a shielding gas in the heat treatment of iron, steel, and other metals. In the making of steel, nitrogen is employed as a cooling medium. It is frequently used in the process of quenching, which involves rapidly cooling hot steel by exposing it to a nitrogen atmosphere. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=210435735 By end-use industry, the iron & steel segment accounted for the highest air separation plant market share from 2023 to 2028. The iron & steel segment, by end-use industry, market accounted for the highest share. Global infrastructural growth, urbanization, and industrial expansion drive the iron and steel industry’s growth. Steel is a key component of machinery and equipment made for a variety of industries, including those in agriculture, mining, energy, and manufacturing. As emerging economies continue to engage in infrastructure development, it is anticipated that the demand for steel in the construction sector will stay robust. As steel production expands, industrial gases produced by air separation plants, such as oxygen, nitrogen, and argon, are in greater demand.

  3. Asia Pacific is the largest region in the air separation plant market. The need for medicinal gases produced by air separation plants, such as oxygen and nitrogen, is driven by the region’s expanding population and rising healthcare spending in Asia. Medical technology has advanced in the Asia Pacific region, which has led to a greater reliance on medical gases in a variety of diagnostic and therapeutic applications. These gases are utilized in hospitals, clinics, and other healthcare facilities for anesthesia, respiratory therapy, and other medical operations. The demand from the healthcare industry is driving the air separation plant market in the region. The major players operating in the air separation plant market include 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), Inox Air Products Private Limited (India), Hangzhou Hangyang Co., Ltd. (China), Universal Industrial Gases, Inc. (US), Nikkiso Cosmodyne, LLC. (US) and others. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=210435735 About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra

  4. MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com

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