Global Turboexpander Market May Set a New Growth Story to Generate Booming Opportunities in The Industry

The global turboexpander market size was valued at USD 953.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030

Over the course of the forecast period, the market is anticipated to continue expanding due to the rising demand for natural gas in both the industrial and residential sectors. Additionally, it is anticipated that the market would grow due to ongoing developments in bearing technology and a growing preference for Active Magnetic Bearings (AMB) in turboexpanders over oil-bearing. Over the coming years, market growth is projected to be restrained by the turboexpander's lengthy product development cycle.

A revolving radial or axial flow turbine known as a turboexpander, also called an expansion turbine, expands high-pressure gas to provide energy for three different types of devices: a generator, a compressor, or hydraulic/oil brakes. The two main markets where turboexpanders are widely employed are the hydrocarbon processing and air separation facilities. Additionally, they have uses in geothermal applications, heat recovery, and gas liquefaction. They are a key component of every compressor system. Therefore, demand from diverse industrial applications is anticipated to be what spurs the expansion.

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The requirement for turboexpanders in geothermal and heat recovery applications will also be influenced by the growing awareness among industries to reduce Green House Gas (GHG) emissions. It is anticipated that two key factors would contribute significantly to market growth: the rising demand for LNG cars and the rising demand for cryogen products in process industries. Additionally, the need for turboexpanders is anticipated to rise in the near future due to the rising demand for LNG for domestic uses and the ensuing requirement to store and transport LNG. A cleaner and more dependable energy source is natural gas. Therefore, during the coming few years, the demand for turboexpanders is anticipated to be driven by favourable government measures to encourage and boost the adoption of alternative fuels.

Further division of the market into axial flow and radial flow. In 2021, the radial flow market segment represented for more than half of the whole market. The significant proportion of the category was largely due to the widespread usage of radial expanders for low output power applications, such as hot gas expanders used in refineries, binary cycle geothermal facilities, and other low power cryogenic plants. In binary cycle geothermal facilities, radial flow turboexpanders are required to generate energy without the emission of carbon dioxide.

Top key players of The Global Turboexpander Market:
• Cryostar
• Atlas Copco
• GE oil & gas
• Air Products
• ACD
• L.A. Turbine
• Turbogaz
• Samsung
• RMG
• Hangyang Group
• SASPG
• HNEC
• Suzhou Xida
• Beifang Asp

Market: By Types
• Radial Turboexpander
• Axial Turboexpander
• Radial-Axial Turboexpander

Market: By Applications
• Liquefaction of Gases
• Power Generation

Global Turboexpander Market: Regional Analysis
The countries covered in the regional analysis of the Global Turboexpander market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter's Five Force Model and SWOT analysis are used to study the global Turboexpander market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Turboexpander would help in identifying future applications in this market.

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