The Global Turboexpander Market will Hit $1.3 Billion by 2028, at a CAGR of 4.5%

Published Date: 31-May-2022

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Turboexpander Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Turboexpander Market size is expected to reach $1.3 billion by 2028, rising at a market growth of 4.5% CAGR during the forecast period.

The Axial Flow segment is showcasing a CAGR of 5.9% during (2022 - 2028). The increase in demand for high-power technologies such as geothermal and heat recovery can be attributed to the segment's growth. As well, big gas turbine applications are controlled by axial flow turboexpander, which are widely used. Power plants use axial gas turboexpander to supply heat and power to districts, facilities, and grid systems.

The Compressor segment acquired maximum revenue share in the Global Turboexpander Market by Loading Device in 2021; thereby, achieving a market value of $595.4 million by 2028. Due to the most typical arrangement in industries is a compressor-loaded turboexpander, which is widely employed in LNG feed-gas processing such as onshore and floating, high-demanding cryogenic, and energy conversion applications.

The Air Separation segment has shown growth rate of 5% during (2022 - 2028). At the expander casing and other locations throughout the machine, novel insulation is used to get ideal performance. Improve the cooling capacity of cryogenic operations and, as a result, the yield of the air separation process. It provides maximum cold power for plant while also being simple to install, operate, and maintain.

The Oil & Gas segment is generating high revenue in the Global Turboexpander Market by End-use in 2021, thereby, achieving a market value of $499.1 million by 2028. The gas will be cooled by the Joule-Thomson effect when a turbo-expander is used. The added cooling ability that a turbo-expander gives over a basic Joule-Thomson valve can help a variety 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. Turbo-expanders can be used in conjunction with a second power source, such as a fuel cell or a traditional fuel-burning generator.

The 5MW - 9MW market is experiencing a CAGR of 4.3% during (2022 - 2028). It is due to the most end users’ interest in turboexpanders with low power capacities, generally less than 10 MW. Installation, commissioning, and maintenance take less time during downtime due to a short product design process and minimal expenses. Oil and gas processing, air separation facilities, refining, dew point management, Natural Gas Liquids (NGL) recovery, and Nitrogen Rejection Units all benefit from the low power capacity (NRU).

The Asia Pacific market dominated the Global Turboexpander Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $492.7 million by 2028. The Europe market is estimated to witness a CAGR of 4.1% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 3.8% during (2022 - 2028).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.

Global Turboexpander Market Segmentation

By Product

  • Radial Flow
  • Axial Flow

By Loading Device

  • Compressor
  • Generator
  • Hydraulic/Oil-brake

By Application

  • Cryogenic
  • Air Separation
  • Oil & Gas Processing
  • Others

By End-use

  • Oil & Gas
  • Energy & Power
  • Chemical & Petrochemicals
  • Others

By Power Capacity

  • 1MW - 4 MW
  • 5MW - 9MW
  • Less than 1 MW
  • 10MW - 19MW
  • 20MW - 24 MW
  • 25 MW - 40 MW
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • 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
  • R&D Dynamics Corporation

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Related Reports:

North America Turboexpander Market Size & Opportunities 2022-2028

Europe Turboexpander Market & Growth Forecast 2022-2028

Asia Pacific Turboexpander Market, Share & Industry Outlook to 2028

LAMEA Turboexpander Market Growth, Trends & Forecasts 2022-2028

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