As the global economy recovers in 2021 and the supply of the industrial chain improves, the air separation units market will undergo major changes. The market for air separation units is expected to witness a CAGR of 4.82% during the forecast period, 2022-2027, registring the value of USD 6.44 billion in 2027 from USD 5.04 billion in 2020. The COVID-19 pandemic affected the market in multiple ways. Firstly it disrupted the market due to supply chain issues. Secondly, the market was affected by the closure of industrial and manufacturing facilities due to the lockdowns enforced all over the world to control the virus. Factors such as increasing demand for industrial gases, spurred by the growth in steel and process industries are likely to drive the market growth during the forecast period. However, since the cost to supply high-purity industrial gases is huge, several operating companies are shifting toward alternate air separation techniques such as pressure swing adsorption (PSA) as a cost-effective solution that may restrain the market for air separation units.
The global air separation units industry report provides top-notch qualitative and quantitative information including: Market size (2017-2021 value and 2022 forecast). The report also contains descriptions of key players, including key financial indicators and market competitive pressure analysis.
The report also assesses key opportunities in the market and outlines the factors that are and will drive the growth of the industry. Taking into account previous growth patterns, growth drivers, and current and future trends, we also forecast the overall growth of the global air separation units market during the next few years. The global air separation units market size will reach USD million in 2028, growing at a CAGR of % during the analysis period.
The air separation units market can be split based on product types, major applications, and important regions as follows:
Messer Group GmbH
Air Liquide SA
Air Products and Chemicals, Inc.
SIAD Macchine Impianti S.p.A.
Oil and Gas Industry
Iron and Steel Industry
Other End Users