Global Turboexpander Market was valued at US$ 280.12 Mn in 2017 and is expected to reach US$ 420.90 Mn by 2026, at a CAGR of 5.22 % during a forecast period.
An important component of an air separation plant, which splits process fluids into pure gases or pure liquids in order to make them commercially available to the consumer, is the turboexpander. The turboexpander contains rotating assembly with expander and brake positioned on two ends of a rotating shaft, housings, flanges, skid, and subsystems to carry seal gas and oil into the area of the rotating assembly.
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Increasing usages of natural gas for meeting the needs of a power supply is expected to drive the global turboexpander market. The oil and gas and manufacturing industries are inclined towards usage of energy efficient source from traditional sources of energy is expected to boost the global turboexpander market growth. Increasing demand for shale gas is also contributing to the expansion of the turboexpander market. Growing use of geothermal energy for power generation is also expected to propel the turboexpander market growth. Furthermore, a high installation cost is one of the major restraint in the global turboexpander market.
The increasing popularity of shale gas coupled with the growing awareness regarding the benefits of shale gas as an energy resource is driving the growth in the turboexpander market. The increasing economic activity around the world has increased the emission of carbon dioxide. Many countries are focusing to decarbonize this emission by shifting to conventional energy into renewable energy is expected to booming the global turboexpander market.
Hydrocarbon Turboexpanders segment is expected to share substantial growth in the global turboexpander market. The growth can be attributed to the increasing usage of hydrocarbon turbo expanders in the oil & gas industries. These turboexpanders are used in hydrocarbon applications to liquefaction of petroleum gases, liquefaction of natural gases, precipitation point control, and FPSO LNG, regasification, and nitrogen rejection.
The Asia Pacific region is estimated to lead global turboexpander market during the forecast period. The growth in the turboexpander market is attributed to the developing economies such as India and China, are making huge investments in refineries and focused on increasing the production of natural gas. The market growth can be accredited to a growing share of natural gas in main energy consumption and growing focus of end users includes the manufacturing and oil & gas industries on energy efficiency. Turboexpanders are mostly used for the in petrochemical applications such as hydrogen, nitrogen and ammonia purification and ethylene production. Growing production of natural gas is expected to form the demand for turboexpander in hydrocarbon applications in this region. Rapid industrialization and increasing investment in the end-user industries such as power generation and oil & gas is expected to increase demand for the turboexpander in this region.
The objective of the report is to present a comprehensive assessment of the turboexpander market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global turboexpander market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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Scope of the Report Global Turboexpander Market
Global Turboexpander Market, By Loading device
• Oil Break
Global Turboexpander Market, By Application
• Hydrocarbon Turbo expanders
• Air Separation Turbo expanders
Global Turboexpander Market, By End User
• Oil & Gas
• Power Generation
Global Turboexpander Market, By Geography
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players in Global Turboexpander Market
• Atlas Copco
• Acd, Llc
• Baker Hughes
• Siemens Ag
• Air Products & Chemicals
• Honeywell International Inc
• Elliott Group
• R&D Dynamics Corporation
• GE Energy
• Air Liquide
MAJOR TOC OF THE REPORT
Chapter One: Turboexpander Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Turboexpander Market Competition, by Players
Chapter Four: Global Turboexpander Market Size by Regions
Chapter Five: North America Turboexpander Revenue by Countries
Chapter Six: Europe Turboexpander Revenue by Countries
Chapter Seven: Asia-Pacific Turboexpander Revenue by Countries
Chapter Eight: South America Turboexpander Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Turboexpander by Countries
Chapter Ten: Global Turboexpander Market Segment by Type
Chapter Eleven: Global Turboexpander Market Segment by Application
Chapter Twelve: Global Turboexpander Market Size Forecast (2019-2026)
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