Turboexpander - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Turboexpander Market is accounted for $327.84 million in 2019 and is expected to reach $611.77 million by 2027 growing at a CAGR of 8.1% during the forecast period. Increasing share of natural gas in primary energy consumption and increasing focus on energy efficiency are the major factors driving the market growth. However, high initial cost for smaller installations is restraining the market growth.
Turboexpander is a centrifugal or axial-flow turbine, through which high-pressure gas is expanded to produce work to drive a compressor or generator. It is a turbo machine designed to reduce the pressure and the temperature of the gases, increasing their volume to be able to liquefy them or to condense them, this device converts the energy of the gas pressure into useful work which is exploited in the form of work produced for generating power.
Based on end user, the oil & gas segment is likely to have a huge demand. Increased production of LNG and LPG are expected to be the major drivers boosting growth of the turboexpanders market in the oil & gas sector. By geography, Asia Pacific is going to have a lucrative growth during the forecast period. Factors, such as increasing investments in natural gas production plants are driving the Asia Pacific turboexpander market during the forecasted period.
Some of the key players profiled in the Turboexpander Market include Air Liquide, Air Products and Chemicals, Atlas Copco, Baker Hughes, Bhge, Chengdu Shenleng, Cryostar, Elliott Group, GE Energy, Hangzhou Hangyang, High-Speed, Honeywell, Kaifeng Air Separation, L.A. Turbine, Linde, R&D Dynamics Corporation, Siemens, Suzhou Xida, Turbogaz and UniEco.
• Axial Turboexpander
• Radial Turboexpander
• Radial-Axial Turboexpander
• Gas Bearing
• Magnetic Bearing
• Oil Bearing
Loading Devices Covered:
• Oil Break /Hydraulic Brake
• Generator (Electrical)
Sales Channels Covered:
• Manufacturer/Distributor/Service Provider
• Air Separation Turboexpanders
• Hydrocarbon Turboexpanders
• Liquefaction of Gases
• Natural Gas Pressure Letdown Stations
• Pharmaceutical Plants
• Other Applications
End Users Covered:
• Chemical & Petrochemical
• Heating, Ventilation, and Air Conditioning (HVAC)
• Oil & Gas
• Power Generation
• Refrigeration Systems
• Energy Recovery
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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