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
- 4/24/2023
- 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
Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders.Â
The companies are analyzed in terms of following factors such as:
- Business Model
- Production Capacity, Revenue, Sales, Gross Margin
- Key Business Strategy
- SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
- Company Share Analysis from 2018-2022
- Company Analysis by Revenue and Sales
- Company Production Capacity, Gross Margin
- Company Share Analysis by Application/End Use
- Company Share Analysis by Product/Specification
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
}})
Select a license type that suits your business needs
US $4250
Only Four Thousand Two Hundred Fifty US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $5250
Only Five Thousand Two Hundred Fifty US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $6250
Only Six Thousand Two Hundred Fifty US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI