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The global market for turboexpanders is anticipated to grow at a CAGR of 8.23% from 2023 to 2030, with increased demand for energy efficiency serving as a primary driver. A radial inflow expander turbine called a turboexpander is used in processing plants to recover thermal energy present in high-pressure gas streams and transform it into mechanical energy. The compressor or generator is propelled by this mechanical energy. Turboexpanders are now often employed in the oil and gas sector to extract liquid hydrocarbons from natural gas. In addition to being used to liquefy natural gas, turbo expanders are also frequently employed in petrochemical processes for producing ethylene, nitrogen, and hydrogen, among other things. The prognosis for global energy is consistently dominated by oil and gas. The environment is getting worse as a result of the heavy use of fossil fuels. Many nations are converting to better energy sources. One of the finest viable fossil fuel substitutes is natural gas. It emits less carbon dioxide and burns more efficiently than coal. Operators are so continuously spending in boosting natural gas production, which could spur the market for turboexpanders to expand.
An expander and compressor are combined in a single-shaft device called a turboexpander. Both the expansion and compression units are driven by the same shaft, which also connects them. Turbines are used in turboexpanders to convert kinetic energy into mechanical energy by pumping compressed and expanded gases through them. In cryogenic applications including petrochemical, natural gas, and air separation, these are mostly employed. Turboexpanders are used by the majority of industries to boost isentropic efficiency and hence enhance production.
Throughout the projection period, worldwide market participants are likely to prioritise innovation as one of their strategic breakthroughs due to the increasing need for efficient manufacturing methods and the necessity to extract more energy content. Asia-Pacific is anticipated to have the highest demand for turboexpanders throughout the projected period due to the rising use of natural gas. Cryogenic liquid production uses turboexpanders particularly well, which is expected to drive the market throughout the forecast period due to rising demand. But a major barrier is the turboexpander market's high initial cost.
The turboexpander market is seeing a number of advancements; for instance, Atlas Copco has created turboexpanders of many varieties, including compressor-loaded, generator-loaded, and hydraulic brake-loaded models. The reliquification of LNG, cooling and compressing of LNG, and the production of energy from surplus gases in the fertilisation process are some of the major uses of turboexpanders.
The Indian government is working with a number of organisations to promote the use of LNG, which is increasing the demand for LNG in the nation. The United States consumes more natural gas than any other country, accounting for 20.1% of worldwide consumption, according to BP statistics from 2018. The average annual increase in per capita natural gas consumption in the United States from 2006 to 2016 was 2.5 percent, and this trend is projected to persist over the projection period. Atlas Copco has developed turboexpanders with power conditioners, generators, and hydraulic brakes. These expanders are frequently used to freeze and compress LNG, reliquefy LNG, and produce energy from extra gases during the fertilisation process. An axial flow or hydraulic turbine called a turboexpander is used to expand high-pressure gas.
Natural gas is more in demand than other conventional fossil fuels because of its reduced carbon footprint. The usage of LNG has increased significantly in major economies like India, particularly in rural areas where firewood has traditionally been the fuel of choice. The nation is now moving towards energy efficiency thanks to this. The Indian government is collaborating with numerous organisations to expand the usage of LNG, which is fueling the country's rising LNG consumption. According to BP statistics data from 2018, the US consumes the most natural gas in the world, making up 20.1% of total consumption. Natural gas consumption per person increased by 2.5% year on average in the US between 2006 and 2016, and this trend is anticipated to continue. During the projected period, all of these reasons will be the primary drivers of the worldwide turboexpanders market. Another significant factor driving the global market is the rising demand for energy efficiency. According to experts in the field, natural gas is the most efficient fossil fuel since it can be used to generate energy to the tune of more than 80% of its energy content.
Report Coverage
Global Turboexpander research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Turboexpander report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Turboexpander competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Turboexpander market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Turboexpander market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Turboexpander market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Atlas Corpo (Sweden), Baker Huges 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), Elliot Group (US), R&D Dynamics Corporation (US), Turbogaz (Ukraine)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Turboexpander market based on the below-mentioned segments:
Global Turboexpander Market, By Loading Device
Compressor
Generator
Oil Break
Global Turboexpander market, By Application
Hydrocarbon
Air Separation
Global Turboexpander Market, By End User
Oil & Gas
Manufacturing
Power Generation
Global Turboexpander market, Regional Analysis
An expander and compressor are combined in a single-shaft device called a turboexpander. Both the expansion and compression units are driven by the same shaft, which also connects them. Turbines are used in turboexpanders to convert kinetic energy into mechanical energy by pumping compressed and expanded gases through them. In cryogenic applications including petrochemical, natural gas, and air separation, these are mostly employed. Turboexpanders are used by the majority of industries to boost isentropic efficiency and hence enhance production.
Throughout the projection period, worldwide market participants are likely to prioritise innovation as one of their strategic breakthroughs due to the increasing need for efficient manufacturing methods and the necessity to extract more energy content. Asia-Pacific is anticipated to have the highest demand for turboexpanders throughout the projected period due to the rising use of natural gas. Cryogenic liquid production uses turboexpanders particularly well, which is expected to drive the market throughout the forecast period due to rising demand. But a major barrier is the turboexpander market's high initial cost.
The turboexpander market is seeing a number of advancements; for instance, Atlas Copco has created turboexpanders of many varieties, including compressor-loaded, generator-loaded, and hydraulic brake-loaded models. The reliquification of LNG, cooling and compressing of LNG, and the production of energy from surplus gases in the fertilisation process are some of the major uses of turboexpanders.
The Indian government is working with a number of organisations to promote the use of LNG, which is increasing the demand for LNG in the nation. The United States consumes more natural gas than any other country, accounting for 20.1% of worldwide consumption, according to BP statistics from 2018. The average annual increase in per capita natural gas consumption in the United States from 2006 to 2016 was 2.5 percent, and this trend is projected to persist over the projection period. Atlas Copco has developed turboexpanders with power conditioners, generators, and hydraulic brakes. These expanders are frequently used to freeze and compress LNG, reliquefy LNG, and produce energy from extra gases during the fertilisation process. An axial flow or hydraulic turbine called a turboexpander is used to expand high-pressure gas.
Natural gas is more in demand than other conventional fossil fuels because of its reduced carbon footprint. The usage of LNG has increased significantly in major economies like India, particularly in rural areas where firewood has traditionally been the fuel of choice. The nation is now moving towards energy efficiency thanks to this. The Indian government is collaborating with numerous organisations to expand the usage of LNG, which is fueling the country's rising LNG consumption. According to BP statistics data from 2018, the US consumes the most natural gas in the world, making up 20.1% of total consumption. Natural gas consumption per person increased by 2.5% year on average in the US between 2006 and 2016, and this trend is anticipated to continue. During the projected period, all of these reasons will be the primary drivers of the worldwide turboexpanders market. Another significant factor driving the global market is the rising demand for energy efficiency. According to experts in the field, natural gas is the most efficient fossil fuel since it can be used to generate energy to the tune of more than 80% of its energy content.
Report Coverage
Global Turboexpander research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Turboexpander report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Turboexpander competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Turboexpander market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Atlas Corpo (Sweden), Baker Huges 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), Elliot Group (US), R&D Dynamics Corporation (US), Turbogaz (Ukraine) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Turboexpander Market from 2021 to 2030.
- Market Forecast for Turboexpander Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Turboexpander competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Turboexpander
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Turboexpander market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Turboexpander market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Atlas Corpo (Sweden), Baker Huges 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), Elliot Group (US), R&D Dynamics Corporation (US), Turbogaz (Ukraine)
Primary Target Market
- Market Players of Turboexpander
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Turboexpander market based on the below-mentioned segments:
Global Turboexpander Market, By Loading Device
Compressor
Generator
Oil Break
Global Turboexpander market, By Application
Hydrocarbon
Air Separation
Global Turboexpander Market, By End User
Oil & Gas
Manufacturing
Power Generation
Global Turboexpander market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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