Industrial Tech Shifts & Hidden Moats

Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?

I am Peter Wang, based in Shanghai, with dual master’s degrees in engineering and business management from Fudan University and the National University of Singapore.

Over the years, I have worked across sales and marketing roles with companies like Keyence, Datalogic, Teledyne E2V Semiconductors, and Spectris Servomex. That exposure has given me a hands-on understanding of multiple industrial segments, including machine vision, industrial automation, semiconductors, spectroscopy, and gas analysis. My perspective is shaped largely by working at the intersection of technology and market adoption across these industries.

Q2. Are you seeing a pivot in ASU demand toward Hydrogen purification? How much of the 2026 pipeline is driven by 'Green Hydrogen' mandates versus traditional semiconductor demand?

I do see ASUs increasingly being integrated into green hydrogen projects, particularly across Asia-Pacific. But I would not call this a fundamental shift in demand yet.

In my experience, the more reliable way to read this market is by tracking how the large global gas players—Linde, Air Liquide, and Air Products—are allocating capital. They still anchor the market, both for semiconductor specialty gases…