Air Separation Plant Market Expected to Reach USD 9.47 Billion by 2034, Growing at a CAGR of 4.60%

The global air separation plant market was valued at USD 6.04 billion in 2024 and is expected to grow at a CAGR of 4.6% from 2025 to 2034. Growth is driven by the increasing demand for industrial gases in healthcare, metallurgy, and chemical industries

Market Definition

The Air Separation Plant (ASP) market encompasses industrial facilities that extract and purify atmospheric gases—primarily nitrogen, oxygen, argon, and sometimes CO₂ and helium—using cryogenic, pressure swing adsorption (PSA), or membrane technologies. Cryogenic distillation remains the dominant method, enabling high-purity gas production for critical sectors such as steelmaking, chemicals, healthcare, electronics, and food & beverage. The ASP market bridges the gap between raw atmospheric air and its high-grade industrial applications, playing a vital role in global manufacturing infrastructure and essential services.

Key Report Highlights

The report highlights the key region that accounts for the highest revenue share in the global Air Separation Plant market.
It identifies the leading country within this region that makes a significant contribution to the market’s overall performance.
The report outlines the dominant segment that holds a major share of the market.
It also emphasizes the fastest-growing segment projected to gain strong traction during the forecast period.
Qualitative and quantitative market analysis have been used to provide an in-depth understanding of the market.

Market Overview: Key Figures at a Glance

Market Value in 2024: USD 6.04 Billion
Projected Market Size in 2034: USD 9.47 Billion
Anticipated CAGR (2025-2034): 4.60%

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Market Growth Drivers

Growth in the air separation plant market is driven by increasing industrialization and the rising demand for industrial gases across manufacturing and processing sectors. Expanding applications in healthcare, especially in medical oxygen supply, along with greater use in renewable energy systems such as green hydrogen production, are also contributing factors. Technological advancements in separation efficiency, automation, and energy-saving systems are enhancing plant performance and scalability. Additionally, strong growth in emerging markets and infrastructure development projects worldwide continue to support long-term demand for air separation solutions.

Market Key Players

The competitive landscape features a mix of long-standing companies and emerging contenders. Leading players are actively pursuing R&D initiatives and strategic moves to strengthen their market position. Notable participants include