Turboexpander Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2032

Page: 215 | Report Code: EP240318 | Research Suite: Report (PDF) & Market Data (Excel)

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The turboexpander is a device to convert the pressure and temperature energy of a fluid into mechanical work, it operates in the principle of expanding a high pressure gas or vapor through a turbine to generate rotational energy, which can be used to drive compressors, generators, or other equipment’s. Overall it plays a crucial role in various industrial processes where the efficient recovery of energy or the production of low temperatures is required and there they offer efficiency, reliability and flexibility making it an indispensable component.

MARKET OVERVIEW

The global market valuation of Turboexpander market was valued at USD 973.6 Million in 2022 and is projected the grow at approximately USD 1 billion exhibiting a CAGR of 4.8% during the forecast of year 2023-2032, the turboexpander market is poised for substantial growth driven by increasing energy demands and focus on energy efficiency across industries globally.

GROWTH DRIVERS

The growing demand for LNG as a cleaner alternative to traditional fuels is driving the expansion of natural gas liquefaction plants where it plays a crucial role in the production of LNG, in industries such as oil and gas processing, petrochemicals and air separation there is a growing emphasis on improving energy efficiency and operational costs where turboexpanders offer a highly efficient means of recovering energy.

The growing production of natural gas processing capacity the demand for turboexpanders increases as it works as a key component in producing pipeline-quality natural gas. The expansion of industries reliant on cryogenic temperatures is fueling the demand for turboexpanders for producing extremely low temperatures by expanding high pressure gases.

MARKET SEGMENTATION:

·         By Product Type – Axial Flow and Radial Flow

·         By Device Type – Compressor, Generator, and Hydraulic Brakes

·         By End User – Oil and Gas, Power Generation, Manufacturing, HVAC and Others

·         By Region - North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

Turboexpander Market by Product Type Segment Review:

The axial flow turboexpanders feature a design where the gas flow path is parallel to the rotation axis of the turbine rotor and these are commonly used in applications where the gas flow is relatively uniform and axail and are preferred for applications with high flow rates and moderate pressure differentials, they are compact in design and easy to install.

Radial flow turboexpanders have a design where the gas flow path is perpendicular to the rotation axis of the turbine rotor creating a radial flow pattern and are used in applications with varying gas flow conditions such as natural gas processing plants, ethylene production facilities and hydrogen recovery units which makes it well suited for handling gases with non-uniform flow profiles and higher pressure differentials, this is also compact in design.

Turboexpander Market by Device Type Segment Review:

Turboexpanders used as compressors are primarily employed in natural processing plants and liquefied natural gas facilities where it acts as a compressor by extracting energy from high pressure gas stream and converting it into mechanical work, they help in the process of gas liquefaction, separation and purification. It is utilized as generators commonly found in power generation plants.

Particularly in organic Rankie cycle (ORC) where it serves as a power generator by extracting energy from high pressure or vapour streams converting it into electricity. Turboexpanders equipped with hydraulic brakes are utilized in various industrial processes like cryogenic refrigeration systems and chemical processing plants where it operates as a hydraulic brake to control the rotational speed and energy extraction from the gas stream.

Turboexpander Market by End User Type Segment Review:

The oi and gas represents the significant market segment for the use of turboexpanders where they are used in applications like natural gas processing, LNG liquefaction and in gas transportation it plays a crucial role in cryogenic processes for gas separation, dew point control and gas liquefaction contributing to the efficient extraction and processing of hydrocarbon and are also employed in pipelines of gas transmission to recover energy from high pressure gas steams.

Turboexpanders are utilized in power generation applications particularly in organic Rankie Cycle (ORC) systems in which they convert the energy from low-temperature heat sources such as geothermal, solar or waste heat from industrial processes into electricity. Turboexpanders find applications in manufacturing processes including chemical, petrochemical and metal production in which they are used to recover energy from process streams control temperatures and provide mechanical work for compression and power generation. In HVAC systems for energy recovery and pressure control in air conditioning and refrigeration applications where turboexpanders are used.

Turboexpander Market by Regional Analysis:

North America is a prominent market as it is extensively used in gas processing plants and gas transmission pipelines across gas regions like Permian Basin and Bakken Formation. Europe is a significant market for turboexpanders driven by the application in oil and gas production and LNG liquefaction. Asia Pacific is a rapidly growing market for turbo expanders propelled by growing urbanization and infrastructure development.

The Middle East and Africa is witnessing growth due to the extensive use of turboexpander in the region due to the presence of oil in countries like Saudi Arabia, Qatar and United Arab Emirates. South America is a promising market driven by deployment of turboexpanders in gas processing plants.

Key Challenges:

The high initial investment including procurement and installation and more over operational and maintenance charges are very high which may deter potential buyers in the uncertain market conditions. The application of turboexpanders is very niche which requires more significant research and development to widespread the usage. The turboexpander are intricate machines that requires precise engineering to ensure optimal performance and are also used in specific industries which operates in demanding environments with high temperature, pressure and corrosive gases or liquids presents a challenge for turboexpander manufacturers.

Competitive Landscape:

Companies investing in research and development to enhance performance, efficiency and reliability by leveraging aerodynamics, material science and control system so that they can offer customized or tailored solutions to specific customer requirements and applications, by collaborating and strategic partnerships with tech providers and industry specialists to leverage expertise, resources and insights for acceleration of innovation and addressing market needs and trends and that ensures competitive edge in the market. Companies providing comprehensive after sales service and support to customers including installation, repairs, maintenance and further required assistance that enhances customer’s relationship.

Global Key Players:

·         Atlas Copco

·         Baker Hughes

·         Cryostar

·         LA Turbines

·         PBS

·         Nikkiso

·         Turbogaz

·         Suzler

·         ACD

·         Elliot

Attributes

Details

Base Year

2022

Trend Period

2023 – 2032

Forecast Period

2023 – 2032

Pages

215

By Product type

Axial Flow and Radial Flow

By device type

Compressor, Generator, and Hydraulic Brakes

By End User

Oil and Gas, Power Generation, Manufacturing, HVAC and Others

By region

North America, Europe, Asia Pacific, the Middle East and Africa, and South America

Company Profiles

Atlas Copco, Baker Hughes, Cryostar, LA Turbines, PBS, Nikkiso, Turbogaz, Suzler, ACD, Elliot

Edition

1st edition

Publication

Feb 2024

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