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Global Pressure Swing Adsorption Market Size study, By Type (Double Stage PSA, Rapid PSA) By Application (Medical Oxygen, Oil Refineries, Production Of Ammonia, High Purity Methane Gas, Other) and Regional Forecasts 2024-2032

Global Pressure Swing Adsorption Market Size study, By Type (Double...

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Global Pressure Swing Adsorption Market Size study, By Type (Double Stage PSA, Rapid PSA) By Application (Medical Oxygen, Oil Refineries, Production Of Ammonia, High Purity Methane Gas, Other) and Regional Forecasts 2024-2032
Global Pressure Swing Adsorption Market...
Report Code
RO8/103/1798

Publish Date
30/Aug/2024

Pages
200
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Global Pressure Swing Adsorption Market is valued approximately USD 2,721.3 million in 2023 and is anticipated to grow with a healthy growth rate of more than 6.60% over the forecast period 2024-2032. Pressure Swing Adsorption (PSA) is a gas separation and purification technology that relies on the selective adsorption of gases onto a solid adsorbent material. The process operates under high pressure, where the adsorbent material captures specific gases. These gases are then released or desorbed at lower pressure. PSA is widely used in industrial applications such as purifying hydrogen and oxygen, generating nitrogen, and removing impurities from natural gas and biogas streams. Furthermore, rising integration of renewable energy sources are gaining attention towards Global Pressure Swing Adsorption Market. Pressure Swing Adsorption systems can be used to store excess energy produced during peak generation periods by converting it into storable forms such as hydrogen or compressed air. This stored energy can then be utilized during periods of low renewable energy generation, thus enhancing grid stability and reliability.

The Global Pressure Swing Adsorption Market is driven by rising demand for industrial gases and increasing production of semiconductor and electronics across the world. Pressure swing adsorption technology is extensively used for the purification and separation of gases from mixed gas streams. It enables the removal of impurities, moisture, and undesired components, resulting in high-purity gas products suitable for industrial applications. In addition, nitrogen is extensively used in semiconductor manufacturing for inert gas blanketing and purging applications. PSA systems can efficiently generate high-purity nitrogen gas on-site from compressed air, eliminating the need for bulk nitrogen deliveries and storage tanks. However, high initial cost of pressure swing adsorption and complexity associated to design of systems is going to impede the overall demand for the market during the forecast period 2024-2032.

The key regions considered for the Global Pressure Swing Adsorption market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2023, Asia Pacific was the largest regional market in terms of revenue owing to factors such as rising emphasis on quality of gas across the region. Asia Pacific has stringent regulations governing air quality, industrial emissions, and workplace safety. These regulations necessitate the use of high-quality gases in various industries, including manufacturing, healthcare, food and beverage, and electronics. PSA technology enables the purification of gases to meet or exceed regulatory standards, ensuring compliance and reducing the risk of fines or penalties for non-compliance. Furthermore, the market in Asia Pacific is also expected to develop at the fastest rate over the forecast period 2024-2032.

Major market player included in this report are:
Siemens AG
Xebec Adsorption Inc
Samson Technologies Corp
Peak Scientific Instruments Ltd
Honeywell International Inc
Universal Industrial Gases, Inc
Linde plc
Cabot Corporation
Air Products and Chemicals, Inc
Shanghai Hanxing Energy Technology Co., Ltd
The detailed segments and sub-segment of the market are explained below:
By Type
Double Stage PSA
Rapid PSA
By Application
Medical Oxygen
Oil Refineries
Production Of Ammonia
High Purity Methane Gas
Other
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market

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