Turboexpander Market Strategies, Trends, and Forecast by 2030
The turboexpander market size is projected to rise from US$ 1,106.97 million in 2022 to US$ 1,751.48 million by 2030; the market is expected to grow at a CAGR of 5.9% during 2022–2030. The significantly growing demand for natural gas is likely to remain a key turboexpander market trend.
Turboexpander Market Analysis
A turboexpander primarily reduces the pressure of a gas stream by facilitating expansion. As an outcome, the enthalpy and temperature of the gas are decreased. This decline in temperature is accompanied by the condensation of substantial hydrocarbons into liquids. Turboexpanders help attain isentropic power as high as 90%, which results in much lower discharge temperatures. The high reliability of turboexpanders is attributed to their minimalistic construction and hermetically sealed design. Some plants have been operating with the same turboexpander for many decades, following a proper maintenance schedule. The main advantages of turboexpanders over regulators are that the former can moderate and reduce the gas pressure to a desired level, and electricity can be generated from the energy attained from a reduced gas pressure.
Turboexpander Market Overview
Turbine efficiency is one of the major parameters that determine the efficiency and competence of a turboexpander system. As a turboexpander consumes high power, a slight improvement in turbine effectiveness leads to a major improvement in system efficiency. The aerodynamic performance of turbomachines varies on the mean-line design methodology of the rotor and stator. The flexibility and competence of turboexpanders led to a diversity of configurations, which make them flexible in diverse applications. Increasing focus on turbans with high speed and precision is one of the major trends in the turboexpanders market.
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Turboexpander Market: Strategic Insights
Turboexpander Market
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![](https://www.theinsightpartners.com/assets/images/rd_int_img/cagr.png)
CAGR (2022 - 2030)
5.9%
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Market Size 2022
US$ 1,106.97 Million
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Market Size 2030
US$ 1,751.48 Million
Market Dynamics
GROWTH DRIVERS
- Development of Cryogenic Expanders-An Opportunity in Turboexpander Market
FUTURE TRENDS
- XXXXXXX
- XXXXXXX
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OPPORTUNITIES
- Technological Advancements
Key Players
- Atlas Copco AB
- Air Products & Chemicals Inc.
- Elliott Group
- Cryostar SAS
- Sapphire Technologies Inc
- Turboden SpA
- L?Air Liquide SA
- ZJ-Tibo
- R and D Dynamics Corporation
- Siemens Energy
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Loading Device
- Compressor
- Generator
- Hydraulic/Oil Brake
Power Capacity
- Less than 1 MW [Up to 500 KW and 500 KW to 1 MW]
- 1 MW to 20 MW
- More than 20 MW
End User
- Oil and Gas
- Power Generation
- industrial
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Turboexpander Market: Strategic Insights
-
CAGR (2022 - 2030)5.9% -
Market Size 2022
US$ 1,106.97 Million -
Market Size 2030
US$ 1,751.48 Million
![](https://www.theinsightpartners.com/assets/images/rd_int_img/tip-logo.jpg)
Market Dynamics
- Development of Cryogenic Expanders-An Opportunity in Turboexpander Market
- XXXXXXX
- XXXXXXX
- XXXXXXX
- Technological Advancements
Key Players
- Atlas Copco AB
- Air Products & Chemicals Inc.
- Elliott Group
- Cryostar SAS
- Sapphire Technologies Inc
- Turboden SpA
- L?Air Liquide SA
- ZJ-Tibo
- R and D Dynamics Corporation
- Siemens Energy
Regional Overview
![](https://www.theinsightpartners.com/assets/images/rd_int_img/ig-regional.png)
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_danger.png)
- Compressor
- Generator
- Hydraulic/Oil Brake
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_warning.png)
- Less than 1 MW [Up to 500 KW and 500 KW to 1 MW]
- 1 MW to 20 MW
- More than 20 MW
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_primary.png)
- Oil and Gas
- Power Generation
- industrial
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Turboexpander Market Drivers and Opportunities
Easy Regulation, Low Maintenance Requirements, and High Efficiency to Favor Market
Turboexpanders are critical in applications such as industrial gas processing, power recovery, and power generation. They are commonly used in the natural gas industry for liquification and dewpoint management. They are also used in the petrochemical industry primarily for ethylene plant refrigeration and air separation. A sustained performance of this equipment is crucial for the profitability of a business. A turboexpander can aid in attaining the same pressure drop more effortlessly than a valve. Easy regulation and moderate maintenance requirements are a few of the major features of turboexpanders.
Nonetheless, turboexpanders need to be monitored frequently after commissioning and in the initial stage of installation. The design of turboexpanders may vary depending on the plant type. However, original equipment manufacturers (OEMs) have standardized a few of the common components, and some critical parts are exclusive to specific machines. Thus, low maintenance, convenient design, and high efficiency in applications are the major factors driving the turboexpanders market.
Development of Cryogenic Expanders– An Opportunity in Turboexpander Market
Cryogenic liquids are gases in the liquefied form at low-temperature conditions. Cryogenic turbines facilitate the expansion of liquefied gas to decrease pressure and convert hydraulic energy to electric energy to control the enthalpy of liquefied gas and aid energy recovery. The cryogenic expanders are being used in diverse application areas, including refineries, ethylene plants, air separation facilities, and gas processing plants. These expanders help in generating the coldest level of refrigeration and large quantities of liquid are condensed in the gas expansion process. Thus, advancements in cryogenic turbines are anticipated to provide growth opportunities in the turboexpanders market during the forecast period.
Turboexpander Market Report Segmentation Analysis
Key segments that contributed to the derivation of the turboexpander market analysis are loading devices, power capacity, and end-user.
- Based on the loading device, the turboexpander market has been divided into compressor, generator, and hydraulic/oil brake. The compressor segment held a larger market share in 2022.
- In terms of power capacity, the market has been segmented into less than 1 MW (Up to 500 KW and 500 KW to 1 MW), 1 MW to 20 MW, and more than 20 MW. The 1 MW to 20 MW segment dominated the market in 2022.
- In terms of end-user, the market has been segmented into oil and gas, power generation, and industrial. The oil and gas segment dominated the market in 2022.
Turboexpander Market Share Analysis by Geography
The geographic scope of the Turboexpander Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has a robust and dynamic turboexpander market, mainly driven by the thriving oil and natural gas industry. With the US, Canada, and Mexico leading the way, this region demonstrates significant potential for market growth and innovation. In the US, dry natural gas production reached a record high in 2022, primarily due to developments in horizontal drilling and hydraulic fracturing techniques. This surge in production, especially in shale, sandstone, carbonate, and other tight geologic formations, has created a strong demand for turboexpanders.
Turboexpander Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2022 | US$ 1,106.97 Million |
Market Size by 2030 | US$ 1,751.48 Million |
Global CAGR (2022 - 2030) | 5.9% |
Historical Data | 2020-2021 |
Forecast period | 2022-2030 |
Segments Covered |
By Loading Device
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Turboexpander Market News and Recent Developments
The Turboexpander Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
- In April 2023, Rotoflow, an Air Products business, signed a Memorandum of Understanding with SKF S2M to expand its services to turbomachinery customers through its Dharan Solutions Center in Saudi Arabia. (Source: Air Products & Chemicals Inc., Press Release/Company Website/Newsletter)
- In May 2023, Turboden Spa, Unareti Spa, and Pietro Fiorentini Spa partnered to improve the Macconago gas station in Milan, aiming for greater energy efficiency and decarbonization. The upgrade includes the installation of a 4 MWe gas expander to recover electricity from natural gas load losses. This is the largest project of its kind in Italy, demonstrating the sector's commitment to the energy transition and decarbonization of cities and the country. (Source: Turboden Spa, Press Release/Company Website/Newsletter)
Turboexpander Market Report Coverage and Deliverables
The “Turboexpander Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering the following areas:
- Turboexpander Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Turboexpander Market trends
- Detailed PEST and SWOT analysis
- Turboexpander Market analysis covering key market trends, Global and regional framework, major players, regulations, and recent market developments
- Turboexpander Market Industry, landscape and competition analysis, covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Loading Device, Power Capacity, and End User
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
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to country scope.