PUBLISHER: Value Market Research | PRODUCT CODE: 1342984
PUBLISHER: Value Market Research | PRODUCT CODE: 1342984
The global demand for Turboexpander Market is presumed to reach the market size of nearly USD 1928.06 BN by 2030 from USD 1055.82 BN in 2022 with a CAGR of 6.92% under the study period 2023 - 2030.
Turboexpander is a single-shaft unit that combines a compressor and an expander. Turboexpander is a mechanical device that raises the temperature and pressure of a fluid or gas. The fluid or gas flows through one or more turbine stages, which extract energy from the flow, before entering an expansion stage, which reduces pressure. This decrease in pressure causes the gas or fluid to expand and work on its surroundings. Turboexpander are mostly used in cryogenic applications, such as petrochemical, natural gas, and air separation.
The growing demand for natural gas in industries and the residential sector is becoming the main growth factor for this market. Moreover, ongoing bearing technological advancements and increased demand for active magnetic bearings (AMB) in turboexpanders are likely to scale up the market revenues of turboexpander in the coming years. Also, increased industry awareness of the need to reduce greenhouse gas (GHG) emissions would drive demand for turboexpanders in geothermal and heat recovery applications even further. Furthermore, increasing usage of natural gas for meeting the needs of a power supply is expected to drive the global turboexpander market. Additionally, growing industrialization and investment in end-user industries such as power generation and oil & gas are expected to drive turboexpander market growth. However, the high initial cost of turboexpander may hamper the market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of turboexpander. The growth and trends of turboexpander industry provide a holistic approach to this study.
This section of the turboexpander market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Turboexpander market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the turboexpander market include Atlas Copco AB, Air Products Inc. (Rotoflow), Air Liquide (formerly Nikkiso Cryogenic Industries), Baker Hughes Company, L.A. Turbine (Chart Industries), Cryostar SAS (Linde Plc), R&D Dynamics Corporation, Elliott Group (EBARA Corporation), Siemens Energy (Siemens AG), Man Energy, PBS Group, a.s, Turbogaz. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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