Turboexpander Market Detailed Analysis and Forecast up to 2030

A turboexpander, also known as an expansion turbine, is a centrifugal or axial flow turbine in which a high-pressure gas expands to produce useful work, which is used to drive equipment or machinery. It is majorly used for recovering energy when the pressure of a gas stream needs reduction. A turboexpander exhibits a power range from 7.5 MW to 750 MW and is used in industries for refrigeration processes such as the extraction of ethane and natural gas liquids from natural gas, and for the liquefaction of other gasses. it operates on the principle of the Joule-Thompson technique and has three major functions, which include an expansion compressor, an expansion generator, and an expansion brake. Turboexpanders are manufactured abiding by some specific guidelines to sustain extreme conditions in the industries.

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COVID-19 scenario analysis

The outbreak of the COVID-19 pandemic has severely impacted the global turboexpander market.

• Owing to the outbreak of the pandemic and the resulting economic downfall, the prices of oil & gas have declined significantly. This is attributed to the fall in the demand in the market that caused huge losses to the major industries, which, in turn, led to a reduction in demand for turboexpanders.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

The surge in the usage of natural gas for the generation of electricity has acted as a major driver of the global turboexpander market. Presently, major industries are shifting from using coal toward the application of natural gas as a source of fuel for power generation. This has increased the usage of pipelines, thus boosting the application of turboexpanders for more energy-efficient processes. In addition, turboexpander finds its application in cryogenic plants for the production of propane, ethane, and butane.

However, high procurement cost for turboexpanders is anticipated to have negative impacts on the growth of the turboexpander market. On the contrary, governments of many countries are coming up with favorable regulations to promote the use of clean fuel in industries, which are anticipated to offer remunerative opportunities for the expansion of the global market.

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Market Key Segments:

By Type
• Radial Turboexpanders
• Axial Turboexpanders
• Radial-axial Turboexpanders

By Loading Device
• Compressor
• Generator
• Oil Break

By Application
• Hydrocarbon
• Air Separation

By Industry Vertical
• Oil & Gas
• Energy & Power
• Manufacturing
• Others

By Region
• North America (US, Canada)
• Europe (Germany, the UK, France, rest of Europe)
• Asia-Pacific (China, Japan, India, rest of Asia-Pacific)
• Latin America (Brazil, Mexico, Rest of LATAM)
• the Middle East
• Africa

Key Market Players: Atlas Copco, Cryostar, Hangzhou Hangyang Co. Ltd., Turbogaz, Cryogenic Industries Inc., Elliott Group, Texan Turbine Inc., Fluidmechanics Inc., Honeywell International Inc., Havacaran Industrial Technologies Co.

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Key benefits of the report

• This study presents the analytical depiction of the global turboexpander industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global turboexpander market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global turboexpander market growth scenario.
• Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in the coming years.

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