Global Turboexpander Market Analysis By Product Type (Axial Flow, Radial Flow), By Loading Device (Compressor, Generator, Hydraulic/Oil - Brake), By Power Capacity (Less than 1 MW, 1MW - 4 MW, 5MW - 9MW, 10MW - 19MW, 20MW - 24 MW, 25 MW - 40 MW, Above 40 MW), By Application (Air Separation, Oil & Gas Processing, Cryogenic Application, Others), By End-use (Oil & Gas, Energy & Power, Chemical & Petrochemicals, Others) & Forecast
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 273
- CATEGORY
- Machinery & Heavy Industry
The global Turboexpander market was valued at USD 800 million in 2022 and expected to grow at a CAGR of 4.8% during the forecast period. A turboexpander is a machine that converts the energy from a high-pressure gas stream into mechanical work, typically used for power generation or refrigeration. It works by expanding a gas, typically natural gas or air, through a turbine, which converts the pressure and temperature energy of the gas into rotational kinetic energy. The kinetic energy is then used to drive a generator or compressor.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 800 Million |
Market Forecast in 2033 | USD 1,150 Million |
CAGR % 2023-2033 | 9.5% |
Base Year | 2022 |
Historic Data | 2019-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Product type, loading capacity, application and end user |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Atlas Copco AB, Air Products Inc. (ROTOFLOW), Air Liquide (formerly Nikkiso Cryogenic Industries), Baker Hughes Company, Chart Industries (L.A. Turbine), Linde Plc (Cryostar), R&D Dynamics Corporation, Elliott Group (EBARA Corporation), Siemens Energy (Siemens AG), Man Energy, PBS Group, a. s., Turbogaz, Others, |
In natural gas processing plants, turboexpander are used to recover energy from high-pressure gas streams that are typically produced during the liquefaction of natural gas. The expanded gas is then used to drive a generator, which produces electricity that can be used to power the plant or sold to the grid.
In refrigeration systems, turboexpander are used to liquefy gases such as helium or hydrogen for use in cooling applications. The expanded gas is cooled to a very low temperature, causing it to liquefy. The liquefied gas can then be used to cool other gases or liquids.
Overall, turboexpander are efficient machines that can be used in a variety of applications, including power generation, natural gas processing, and refrigeration. They are particularly useful for recovering energy from high-pressure gas streams and converting it into usable mechanical work.
Covid-19 Impact:
The COVID-19 pandemic has had a mixed impact on the turboexpander market. On one hand, the reduced economic activity and travel restrictions associated with the pandemic have led to a decrease in demand for natural gas, which in turn has led to a decrease in demand for turboexpander used in natural gas processing plants. This has resulted in a slowdown in the growth of the turboexpander market in some regions.
On the other hand, the COVID-19 pandemic has also led to an increased demand for medical oxygen, which is produced using turboexpander. This has led to an increase in demand for turboexpander used in oxygen generation plants. Additionally, the use of turboexpander in refrigeration systems has been important in the transportation and storage of COVID-19 vaccines, which has led to increased demand for these systems.
Market Dynamics:
Drivers:
- Growing demand for natural gas: As natural gas becomes an increasingly important source of energy around the world, the demand for turboexpander used in natural gas processing plants is also expected to grow.
- Increased focus on energy efficiency: Turboexpander are highly efficient machines that can recover energy from high-pressure gas streams that would otherwise be wasted. As companies and governments around the world focus on energy efficiency and reducing their carbon footprint, the demand for turboexpander is expected to grow.
- Growing demand for liquefied natural gas (LNG): Turboexpander are an important component of the liquefaction process for natural gas, which is necessary for transportation and storage of LNG. As the demand for LNG grows, so too is the demand for turboexpander.
- Growing demand for medical oxygen: Turboexpander are used in the production of medical oxygen, which is essential for treating a variety of medical conditions, including COVID-19. As the demand for medical oxygen grows, so too is the demand for turboexpander.
- Growing demand for refrigeration systems: Turboexpander are also used in refrigeration systems, which are essential for the transportation and storage of a variety of products, including food and pharmaceuticals. As the demand for refrigeration systems grows, so too is the demand for turboexpander.
Restraints:
- High initial cost: Turboexpander are complex machines that require specialized design and engineering, as well as high-quality materials. This can make them expensive to manufacture and purchase, which can be a barrier to entry for some companies.
- Limited applications: While turboexpander are highly efficient machines, they are primarily used in specific applications such as natural gas processing, liquefaction, and refrigeration. This limits their potential market and can make it difficult for companies to justify the investment in these machines.
- Competition from other technologies: Turboexpander face competition from other technologies such as reciprocating engines, gas turbines, and electric motors, which can offer similar benefits at a lower cost.
- Maintenance and operational costs: Turboexpander require regular maintenance to ensure their continued efficiency and performance. This can be expensive and time-consuming, which can add to the overall operational costs of using these machines.
- Environmental concerns: While turboexpander are highly efficient machines that can help reduce energy consumption and carbon emissions, they still require the combustion of fossil fuels in many applications. This can raise environmental concerns and make it difficult for companies to justify their use.
Regional Analysis:
North America: North America is a major market for turboexpander, driven by the demand for natural gas processing and LNG liquefaction. The US is the largest market in the region, with a strong presence of oil and gas companies that use turboexpander for natural gas processing and LNG production.
Europe: Europe is also a significant market for turboexpander, driven by the demand for energy efficiency and the growth of the natural gas industry. Countries such as Germany, France, and the UK are major markets in the region, with a strong focus on reducing carbon emissions and improving energy efficiency.
Asia-Pacific: Asia-Pacific is a rapidly growing market for turboexpander, driven by the growing demand for natural gas and LNG in countries such as China, India, and Japan. The region also has a large manufacturing industry, which requires refrigeration systems that use turboexpander.
Middle East & Africa: The Middle East & Africa is a significant market for turboexpander, driven by the demand for natural gas processing and LNG liquefaction. The region is home to some of the largest natural gas reserves in the world, and countries such as Qatar and the UAE are major players in the global LNG market.
Latin America: Latin America is a growing market for turboexpander, driven by the growing demand for natural gas and the expansion of the oil and gas industry. Countries such as Brazil and Argentina are major players in the regional market, with a strong focus on energy efficiency and reducing carbon emissions.
Competitive Landscape:
The global market is highly competitive and fragmented with the presence of several players. These companies are constantly focusing on new product development, partnerships, collaborations, and mergers and acquisitions to maintain their market position and expand their geographical presence.
• Atlas Copco AB
• Air Products Inc. (ROTOFLOW)
• Air Liquide (formerly Nikkiso Cryogenic Industries)
• Baker Hughes Company
• Chart Industries (L.A. Turbine)
• Linde Plc (Cryostar)
• R&D Dynamics Corporation
• Elliott Group (EBARA Corporation)
• Siemens Energy (Siemens AG)
• Man Energy
• PBS Group, a. s.
• Turbogaz
• Others
Segments
By Product Type
• Axial Flow
• Radial Flow
By Loading Device
• Compressor
• Generator
• Hydraulic/Oil - Brake
By Power Capacity
• Less than 1 MW
• 1MW - 4 MW
• 5MW - 9MW
• 10MW - 19MW
• 20MW - 24 MW
• 25 MW - 40 MW
• Above 40 MW
By Application
• Air Separation
• Oil & Gas Processing
• Cryogenic Application
• Others
By End-use
• Oil & Gas
• Energy & Power
• Chemical & Petrochemicals
• Others
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
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