Asia Pacific Turboexpander Market Size, Share & Industry Trends Analysis Report By Product (Radial Flow and Axial Flow), By Loading Device, By Application, By End-use, By Power Capacity, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Turboexpander Market would witness market growth of 4.8% CAGR during the forecast period (2022-2028).
The energy released from the gas owing to the pressure decrease is used by the turbo-expander to power a compressor, which assists recompress the gas to pressure or coercion. The cold gas (160 °F) (107 °C) is then injected into the de-mechanized column at a temperature and pressure that maintains the majority of the ethane-plus liquid. The methane is boiled out as the liquid descends and is heated, and the fluid becomes thinner and thinner in methane. To ensure that the bottom liquids have a sufficient Reid vapor pressure (RVP) or methane content, heat is injected to the bottom of the tower using hot output waste gas from the compressors. Cryogenic plants have the greatest liquid recovery levels due to the lower temperatures that are achievable. Based on the gas composition and the desired result of liquids recovery, a variety of different combinations are possible. This would take some time to determine whether the turbo-expander is the optimum option for extracting ethane and heavier HCs from natural gas.
The rise of the turboexpander market can be attributed to growing economies like India and China, which are investing heavily in refineries and focusing on boosting natural gas production. The market's growth can be attributed to an increasing share of natural gas in primary energy consumption and a growing focus on energy efficiency among end-users, which comprises the production and oil and gas industries. Turboexpander are mostly utilized in petrochemical operations such as hydrogen, nitrogen, and ammonia purification, as well as the manufacturing of ethylene.
Traditionally, India's oil and gas industry has been dominated by public sector undertakings, usually recognized as government-owned companies. They produce 80 percent of domestic oil and gas and have roughly 70% of domestic refining capacity. The Government of India (GOI) has taken initiatives in recent years to de-regulate the industry and attract more participation from private and foreign investment.
The China market dominated the Asia Pacific Turboexpander Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $137 million by 2028. The Japan market is anticipated to grow at a CAGR of 4.2% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 5.4% during (2022 - 2028).
Based on Product, the market is segmented into Radial Flow and Axial Flow. Based on Loading Device, the market is segmented into Compressor, Generator, and Hydraulic/Oil-brake. Based on Application, the market is segmented into Cryogenic, Air Separation, Oil & Gas Processing, and Others. Based on End-use, the market is segmented into Oil & Gas, Energy & Power, Chemical & Petrochemicals, and Others. Based on Power Capacity, the market is segmented into 1MW - 4 MW, 5MW - 9MW, Less than 1 MW, 10MW - 19MW, 20MW - 24 MW, 25 MW - 40 MW, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Baker Hughes Company, Siemens AG, Atlas Copco AB, Cryostar, Air Products and Chemicals, Inc., Chart Industries, Inc., MAN Energy Solutions SE, Elliott Group, and R&D Dynamics Corporation.
Scope of the Study
Market Segments Covered in the Report:
- Radial Flow
- Axial Flow
By Loading Device
- Air Separation
- Oil & Gas Processing
- Oil & Gas
- Energy & Power
- Chemical & Petrochemicals
By Power Capacity
- 1MW - 4 MW
- 5MW - 9MW
- Less than 1 MW
- 10MW - 19MW
- 20MW - 24 MW
- 25 MW - 40 MW
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Honeywell International, Inc.
- Baker Hughes Company
- Siemens AG
- Atlas Copco AB
- Air Products and Chemicals, Inc.
- Chart Industries, Inc.
- MAN Energy Solutions SE
- Elliott Group
- R&D Dynamics Corporation
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