Turboexpander Market Size, Share & Growth | Forecast [2031]

Turboexpander Market Size, Share & Growth | Forecast [2031]

Segments - Turboexpander Market by Loading Devices (Compressor, Generator, and Hydraulic Brake), End-user Industries (Oil and Gas, Power Generation, Energy Recovery, and Other End-user Industries), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

https://growthmarketreports.com/Raksha
Author : Raksha Sharma
https://growthmarketreports.com/Vineet
Fact-checked by : Vineet Pandey
https://growthmarketreports.com/Swapnil
Editor : Swapnil Hedau

Upcoming | Report ID :EP-1174 | 4.6 Rating | 83 Reviews | 176 Pages | Format : PDF Excel PPT

Report Description


Turboexpander Market Outlook 2031 

The Turboexpander Market was USD 999.37 Million in 2022 and is likely to reach USD 1.52 Billion by 2031, expanding at a CAGR of 4.8% during 2023 – 2031. The growth of the market is attributed to the growing reliance on natural gas-based power generation.

A turbo expander is a single-shaft device that combines a compressor with an expander. The compression unit is driven by the expansion unit, which is linked to it by a single shaft. Turbo expanders convert kinetic energy into mechanical energy by sending compressed and expanded gases via turbines. Turbo expanders are most often employed in cryogenic applications including petrochemicals, natural gas, and pharmaceuticals. Turbo expanders are used in most sectors to boost production by increasing isentropic efficiency.

Turbo Expander Market Outlook

In 2018, gas-fired power generation grew by 4%, owing to a significant expansion in the United States and China. More than 1,500 GW of new gas-fired power production capacity is anticipated to be added to the global power network by 2040, bringing the total installed capacity of gas-fired power plants to over 2,000 GW. Since 2011, Japan has replaced a large portion of its nuclear power production capacity with LNG-fired facilities.

China's gas to power strategy seeks to raise natural gas's market share in the country's overall power production mix from 3.1 per cent in 2018 to 10% by 2020 and 15% by 2030.

  • Growing demand from the oil and gas sector is projected to boost market growth during the forecast period.
  • Growing usage of turbo expanders as a refrigeration source in industrial operations is anticipated to drive market expansion in the coming years.
  • The increased introduction of new filtering medium is expected to boost the market growth during the forecast period.
  • Rising percentage of renewable energy sources in the global power-generating mix is likely to restrict the expansion of turbo expanders.

Scope of Turbo Expander Market Report

The report on the global turbo expander market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Turbo Expander Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Loading Devices (Compressor, Generator, and Hydraulic Brake) and End-user Industries (Oil and Gas, Power Generation, Energy Recovery, and Other End-user Industries)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Atlas Copco (Sweden); Baker Hugh a GE company (US); Cyrostar (France); Air Products & Chemicals.Inc (US); L.A. Turbine (US); Honeywell (US); Man, Energy Solutions (Germany); Siemens (Germany); ACD LLC (Switzerland); R&D Dynamics Corporation (US); Turbogaz (Ukraine); Elliott Group.

Turbo Expander Market Segment Insights

Generator segment is projected to account for a key market share

On the basis of loading devices, the turbo expander market is bifurcated into compressor, generator, and hydraulic brake. The generator segment is expected to account for a key share of the market during the forecast period owing to the wide variety of its applications.

Turbo Expander Market loading Devices

Power generation segment is expected to register at a robust pace

In terms of end-user industries, the turbo expander market is segmented into oil and gas, power generation, energy recovery, and other end-user industries. The power generation segment is expected to account for a key share of the market in the coming years due to the rising transition towards natural gas-based power generation.
 

Turbo Expander Market End User Industries

 

Asia Pacific is expected to dominate the market

On the basis of regions, the turbo expander market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Asia Pacific is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to the rising use of natural gas. Moreover, throughout the projection period, several refineries and LNG projects are scheduled to be built in Asia-Pacific.

The demand for turbo expanders is projected to rise as a result of the increasing number of them being utilized for energy recovery in refineries and during LNG expansion in LNG facilities. Furthermore, several economies, such as India's, are quickly expanding, which may lead to an increase in industrialization. Due to its usage in industrial applications such as refrigeration and energy extraction, this is likely to boost the market researched.

 

Turbo Expander Market by Regions

Segments

The global turbo expander market has been segmented on the basis of

Loading Devices

  • Compressor
  • Generator
  • Hydraulic Brake

End-user Industries

  • Oil and Gas
  • Power Generation
  • Energy Recovery
  • Other End-user Industries

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Atlas Copco (Sweden)
  • Baker Hugh a GE company (US)
  • Cyrostar (France)
  • Air Products & Chemicals.Inc (US)
  • L.A. Turbine (US)
  • Honeywell (US)
  • Man, Energy Solutions (Germany)
  • Siemens (Germany)
  • ACD LLC (Switzerland)
  • R&D Dynamics Corporation (US)
  • Turbogaz (Ukraine)
  • Elliott Group

Competitive Landscape

Key players competing in the turbo expander market include Atlas Copco (Sweden); Baker Hugh a GE company (US); Cyrostar (France); Air Products & Chemicals.Inc (US); L.A. Turbine (US); Honeywell (US); Man, Energy Solutions (Germany); Siemens (Germany); ACD LLC (Switzerland); R&D Dynamics Corporation (US); Turbogaz (Ukraine); Elliott Group. Some of these players are investing in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
 

Turbo Expander Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Turboexpander Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Turboexpander Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Turboexpander Market - Supply Chain
  4.5. Global Turboexpander Market Forecast
     4.5.1. Turboexpander Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Turboexpander Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Turboexpander Market Absolute $ Opportunity
5. Global Turboexpander Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Turboexpander Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Turboexpander Demand Share Forecast, 2019-2026
6. North America Turboexpander Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Turboexpander Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Turboexpander Demand Share Forecast, 2019-2026
7. Latin America Turboexpander Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Turboexpander Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Turboexpander Demand Share Forecast, 2019-2026
8. Europe Turboexpander Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Turboexpander Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Turboexpander Demand Share Forecast, 2019-2026
9. Asia Pacific Turboexpander Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Turboexpander Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Turboexpander Demand Share Forecast, 2019-2026
10. Middle East & Africa Turboexpander Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Turboexpander Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Turboexpander Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Turboexpander Market: Market Share Analysis
  11.2. Turboexpander Distributors and Customers
  11.3. Turboexpander Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Atlas Copco (Sweden)
     11.4.2. Baker Hugh a GE company (US)
     11.4.3. Cyrostar (France)
     11.4.4. Air Products & Chemicals.Inc (US)
     11.4.5. L.A. Turbine (US)
     11.4.6. Honeywell (US)

Methodology

Our Clients

sinopec
Honda Motor Co. Ltd.
Deloitte
Microsoft
General Electric
General Mills
Dassault Aviation
Siemens Healthcare