North America 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 North America Turboexpander Market would witness market growth of 3.8% CAGR during the forecast period (2022-2028).
The energy output is proportional to pressure ratio, temperature, and flow rate. In a turbo-expander, the gas is cooled by the Joule-Thomson effect. The larger the flow maximum pressure difference, the greater the potential energy output. Using a turbo-expander instead of a standard Joule-Thomson valve can help chill a wide range of processes, including dewpoint, refrigeration, and natural gas liquefaction. Modern turbo-expander installations use efficient methods for dealing with this temperature loss in particular conditions.
There are two main configurations for turbo-expander generators, one with the generator installed directly on the turbine shaft, and the other with a connection via speed-reducing gears. Multi-staging is possible with an integral gearing option, which allows numerous expander stages to be installed on a single gearbox. Skid-mounted turbo-expander generators simplify transportation and lower installation costs.
The oil and gas and mining industries in the United States are major export markets for machinery, equipment, and overall supply chain items and services. U.S. manufacturers have a huge cost advantage over competitors due to their embrace of innovative technology and cost leadership.
Canada possesses the world's third-largest crude oil reserves, accounting for 97 percent of the country's 171 billion barrels. The geological basin for natural gas production in Canada is shared by Alberta, Saskatchewan, and British Columbia. Meanwhile, shale gas deposits can be discovered in practically every Canadian province. The oil and natural gas sectors are important drivers of the Canadian economy, accounting for 7% of GDP and employing more than 500,000 people across the country.
The US market dominated the North America Turboexpander Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $235.1 million by 2028. The Canada market is estimated to grow at a CAGR of 6.1% during (2022 - 2028). Additionally, The Mexico market would display a CAGR of 5.2% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Turboexpander Market is Estimated to reach $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 North America
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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