Global Turboexpander Market Size study & Forecast, by Loading Device (Centrifugal Compressor, Generator, Hydraulic Brakes), By End-User (Oil & Gas, Power Generation, Manufacturing, HVAC, Others) and Regional Analysis, 2022-2029

Global Turboexpander Market Size study & Forecast, by Loading Device (Centrifugal Compressor, Generator, Hydraulic Brakes), By End-User (Oil & Gas, Power Generation, Manufacturing, HVAC, Others) and Regional Analysis, 2022-2029

Global Turboexpander Market is valued at approximately USD 953.6 million in 2021 and is anticipated to grow with a healthy growth rate of more than 4.8% over the forecast period 2022-2029. A revolving radial or axial flow turbine called a turboexpander, commonly referred to as an expansion turbine, expands high-pressure gas to provide energy for three different types of machinery generators, compressors, and hydraulic brakes. The Turboexpander market is expanding because of factors such as increasing demand for natural gas and rising technological advancements in bearing technology.

Turbo expander is commonly used in petrochemical applications such as ethylene, nitrogen, and hydrogen, among others. Its prevalence has progressively increased during the last few decades. According to Statista, the United States is the world's largest consumer of natural gas, consuming nearly 827 billion cubic metres in 2021. The United States is also one of the world's largest producers of natural gas, with 948 billion cubic metres projected in 2020. Furthermore, the majority of the world's natural gas is produced in the United States. In 2021, the U.S. produced over 23 percent of the total global natural gas output, whereas China produced approximately 5.2 percent. Another important component driving space increase is technological advancements in bearing technology. As per Statista in 2022, the bearing market was sized at USD 142 billion. The railway and aerospace segment is predicted to be among the fastest growing application segments. In addition, Schaeffler India was the leading Indian bearings company based on market capitalization with about 283 billion Indian rupees as of March 2022. SKF India was the second leading bearings company in the country at that time period. However, the high cost of Turboexpander stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Turboexpander Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the increased demand for cryogens due to the need for ultra-high vacuum environments in semiconductor manufacturing processes. According to Statista, in 2021, the Asia-Pacific semiconductor industry is expected to generate approximately $ 342.97 billion in revenue. It was anticipated to generate $411.97 billion in revenue by 2023. Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as government regulations that support renewable energy projects and reduce greenhouse gas emissions, as well as the dominance of natural gas production in the market space.

Major market players included in this report are:
Cryostar India
Atlas Copco
L.A Turbine
Air Products and Chemicals, Inc
MAN Energy Solutions
Havayar Industrial Group
Honeywell International Inc.
Elliot Group
Cryogenic Industries
Turbohaz Uzhhorod, Tov

Recent Developments in the Market:
In July 2022, Hindustan Aeronautics Limited (HAL) has signed a contract with Honeywell for the supply and manufacture of 88 TPE331-12B engines/kits, as well as maintenance and support services for the Hindustan Trainer Aircraft.

Global Turboexpander Market Report Scope:

Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Loading Device, End-User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Loading Device

Centrifugal Compressor
Generator
Hydraulic Brakes

By End-User

Oil & Gas
Power Generation
Manufacturing
HVAC
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

Cryostar India
Atlas Copco
L.A Turbine
Air Products and Chemicals, Inc
MAN Energy Solutions
Havayar Industrial Group
Honeywell International Inc.
Elliot Group
Cryogenic Industries
Turbohaz Uzhhorod, Tov

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.