According to the latest report by IMARC Group, titled “Turbo Expanders Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global turbo expanders market size reached US$ 309.4 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 462.8 Million by 2027, exhibiting a growth rate (CAGR) of 7% during 2022-2027.
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| Turbo Expanders Market Analysis |
Market Outlook:
Turbo expanders refer to the centrifugal or axial flow turbines using which a high-pressure gas drives a generator or compressor. They are extensively utilized in the gas supply chain, energy recovery, power generation, etc., during natural gas processing and petrochemical applications. Turbo expanders are also employed in industrial processes to produce refrigerants for the liquefaction of various gases, such as nitrogen, oxygen, helium, etc. Furthermore, these turbines can be incorporated with different computer-aided tools, including finite-element analyses (FEA), computational fluid dynamics (CFD), computer numerical control (CNC) machining, etc., to offer enhanced design and various key features, such as compressor stage, maximized efficiency, improved reliability, etc.
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The widespread utilization of these systems in oil and gas facilities for dew-point control (DPC), pressure let-down, nitrogen rejection, fluid catalytic cracking (FCC), etc., is a primary factor catalyzing the turbo expanders market. In line with this, the increasing application of these turbines to optimize power generation efficiency and potential and remove ethane and heavy hydrocarbons, including gasoline blends, from natural gas to facilitate the production of natural gas liquids (NGL) is further augmenting the global market. Moreover, the rising energy requirements in offshore oil production sites are also propelling the product demand.
Apart from this, numerous leading manufacturers are adopting sophisticated techniques to develop modern multilink turbo expanders that can adjust inlet guide vanes (IGVs) for precision flow control and minimal actuating forces. This is expected to fuel the turbo expanders market in the coming years. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.
Competitive Landscape with Key Players:
- Air Products & Chemicals.Inc
- Atlas Copco
- Baker Hughes Company (General Electric Company)
- Blair Engineering
- Elliott Group (Ebara Corporation)
- HangZhou Oxygen Plant Group
- LA Turbine (Chart Industries Inc.)
- PBS Group a. s.
- R&D Dynamics Corporation
- Sichuan Air Separation Plant (Group) Co. Ltd.
- Suzhou Sida Cryogenic Equipment Co. Ltd.
- Turbogaz
Key Highlights of the Market Segmentation:
Based on Loading Devices:
- Compressor
- Generator
- Hydraulic Brake
Based on Application:
- Hydrocarbon Turboexpanders
- Air Separation Turboexpanders
- Others
Based on End Use Industry:
- Oil and Gas
- Power Generation
- Energy Recovery
- Others
Geographical Analysis:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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