Europe 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 Europe Turboexpander Market would witness market growth of 4.1% CAGR during the forecast period (2022-2028).
Turbo-expanders are used in expansion-based gas liquefaction procedures to generate the refrigeration for liquefaction. To generate refrigeration, the turbo-expander refrigeration cycle compresses and expands a fluid. Due to advancements in high-efficiency turbo-expanders, the expansion cycle has been substantially enhanced.
Single, twin or multi turboexpander models are used, so they can be powered by electric motors or gas engines. The temperature gap between the refrigerant and the cooling gas in compressor liquefaction procedures is normally near the hotter end of the natural gas chilling slope. The chiller, usually nitrogen or methane, is a volatile organic component that is preferable for low-temperature cooling rather than high-temperature cooling when the input gas contains considerable amounts of C3+ components at the beginning of the gas chilling.
Russia's largest market for oil and natural gas exports is Europe, and by implication, Europe is Russia's main revenue source. Russia is a key supplier of oil and natural gas to Europe, accounting for a large portion of the continent's oil and natural gas imports. In 2020, Russia was the world's third-largest producer of petroleum and other liquids, with total liquid fuel output of 10.5 million barrels per day (b/d). In 2020, Russia surpassed the United States as the world's second-largest producer of dry natural gas, producing an anticipated 22.5 trillion cubic feet.
The Russian administration intends to become a global natural gas supplier in 2020, it approved its most recent energy policy plan, the Energy Strategy to 2035, which emphasizes the advancement and expansion of energy exports and strives to massively raise the incentive to invest in liquefied natural gas (LNG), particularly in the Arctic region.
The Germany market dominated the Europe Turboexpander Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $80 million by 2028. The UK market is experiencing a CAGR of 3.2% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 4.8% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Turboexpander Market will Hit $1.3 Billion by 2028, at a CAGR of 4.5%
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
- Rest of Europe
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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