Japan Air Separation Plant Market Outlook

the japan air separation plant (asp) market is estimated to grow at a moderate growth rate throughout the forecast period. this is mainly due to the increasing demand from end-users for liquid oxygen and nitrogen, and the increasing demand for hydrogen. the primary driver for the japanese air separation plants market is the increased usage in various energy related industries such as petrochemical, power generation and automobile. furthermore, environmental concerns and the increasing population have also led to an increased demand for gas and liquid oxygen as well as liquid nitrogen. moreover, the increasing emphasis on renewable energies from the country’s government is likely to boost the demand for air separation plants in the near future. the government, in its ‘long term energy mix 2021’ strategy, has included a target of 32-44% renewable energy contribution by 2030. this would help in increasing the demand for hydrogen as a clean energy source, which in turn will be directly proportional to the demand for air separation plants. in addition, the increasing use of hydrogen for transportation purposes in japan, is the other major factor augmenting the demand for air separation plants. the government intends to promote hydrogen as a substitute of conventional fuels in transportation sector. furthermore, the rising expenditure in nuclear power plants as a measure to reduce the country’s dependence on oil and gas, is likely to increase the number of oxygen and nitrogen requirements, thus driving the market growth. in the coming years, the market for air separation plants in japan is expected to develop as the industry players look forward to expanding their operations with the help of technological advancements and efficient utilization of resources. additionally, the market is expected to emerge as a primary source for liquid oxygen, nitrogen and hydrogen, and as a result, there will be greater demand for air separation plants in japan. on a whole, the japan air separation plant market is expected to witness a moderate growth in the coming decade. increasing energy demand, environmental concerns, rising population as well as increasing adoption of the latest technologies, are expected to drive the growth of the market over the forecast period.