[293 Pages Report] The global air separation plant market enjoys a valuation of US$5.9 Bn, and projected to expand at a CAGR of 5% to attain a net worth of US$7.9 Bn by the end of 2028. We expect strong demand for air separation plants in the healthcare industry to be a prominent trend favouring overall market growth across regions.
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Demand Analysis of Air Separation Plants (2013 to 2021) Vs Market Forecasts (2022 to 2028)
The world has seen a substantial rise in demand for pure gases across multiple industry verticals. This has subsequently increased demand for air separation plants. Increased disposable income and rapid urbanisation across the globe have also shaped the global air separation plant industry.
Increasing demand from multiple manufacturing sectors, rapid urbanisation in emerging and developing economies, rise in consumerism, high demand for steel production, and rising oxygen demand from the healthcare industry are some of the major factors that are driving demand for air separation systems across the world.
Demand for air separation plants is expected to rise at a CAGR of around 5% from 2022 to 2028.
Global Machine Tool Touch Probe Market Forecast
The global machine tool touch probe market is consolidated by nature. There are only a few key market participants which occupy a significant share in the market. These players are expected to play a pivotal role in the growth of the machine tool touch probe market over the forecast period. By transmission type, infrared segment is expected to hold a significant share in the machine tool touch probe market over the coming years.
Infrared segment along with the radio segment is expected to occupy over 85% share in the global market. By machine type, CNC machining center segment is expected to create overall incremental $ opportunity of US$124.3 Mn between 2018 and 2028. By end use, automotive, defence & aerospace and medical segment is expected to dominate the market. The medical and automotive segment are expected to collectively account for 33.9% of the market share by the end of 2018, which is expected to grow to 35.1% of the overall market by the end of forecast period. By region, Western Europe is expected to grow at a significant rate, at a CAGR of 4.2% over the forecast period.
Key providers of air separation plants are focusing on mergers and acquisitions to increase their global presence and establish their business across regions. Market players are also focusing on reducing costs in order to cater to demand from emerging and developing economies.
- In November 2021, Nippon Gases, a leading Japanese company, announced that it has signed an agreement with Cogne Acciai Speciali, a renowned Italian stainless steel manufacturer. The agreement would enable the modernisation of the Italian company’s air separation unit to increase its efficiency and reduce energy consumption in production.
- On 23rd August 2021, the president of Zimbabwe – Emmerson Mnangagwa -launched a new air separation plant in order to meet increasing demand for medical oxygen. The plant can produce 20 tonnes of oxygen gas along with 16.5 tonnes of liquid oxygen per day.
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Key Segments of Air Separation Plant Industry Survey
Air Separation Plant Market by Type:
- Cryogenic Air Separation Plants
- Non-cryogenic Air Separation Plants
- Pressure Swing Adsorption (PSA)
- Vacuum Pressure Swing Adsorption (VPSA)
- Membrane Separation
Air Separation Plant Market by Gas:
Air Separation Plant Market by End-use Industry:
- Air Separation Plants for Chemical Industry
- Air Separation Plants for Iron & Steel Industry
- Air Separation Plants for Healthcare Industry
- Air Separation Plants for Food & Beverage Industry
- Air Separation Plants for Paper & Pulp Industry
- Air Separation Plants for Oil & Gas Industry
Air Separation Plant Market by Region:
- North America Air Separation Plant Market
- Latin America Air Separation Plant Market
- Europe Air Separation Plant Market
- East Asia Air Separation Plant Market
- South Asia & Pacific Air Separation Plant Market
- Middle East & Africa (MEA) Air Separation Plant Market
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Which End-use Industry of Air Separation Plants is Expected to Have a Bright Outlook?
While demand for air separation plants from chemical and other industries contributes significantly to the overall market, expected demand from the healthcare industry to see a rise more than other industries.
The pandemic of 2020 accelerated demand for medical oxygen, and this has majorly influenced demand for air separation plants in the healthcare industry. Especially, emerging economies with underdeveloped healthcare infrastructure are proving to be very lucrative for air separation plants.
However, demand for air separation plants in the chemical sector will remain the highest, with the industry accounting for over 20% market share.