Dublin, May 31, 2022 (GLOBE NEWSWIRE) -- The "Turboexpander Market Size, Share & Trends Analysis Report by Product Type (Axial, Radial), by Loading Device (Compressors, Generator, Hydraulic), by Power Capacity, by End Use, by Application, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering. The global turboexpander market size is projected to reach USD 1,404.1 million by 2030, growing at a CAGR of 4.8%. The market growth can be attributed to the increasing demand for energy-efficient turboexpanders for geothermal, waste to recovery, natural gas production, and other gas processing applications. Favorable government initiatives to curb the Green House Gases (GHG) emissions have encouraged the economies worldwide to consume natural gas by-products such as Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG). This would eventually increase the demand for the turboexpanders in the oil & gas sector over the forecast period. The surge in investments in hydrogen liquefaction is expected to create the demand for hydrogen turboexpanders during the forecast period. Unprecedented demand for clean and green energy resources associated with growing concerns to curb GHG emissions and favorable government initiatives under the influence of Net Zero Emission by 2050 undertaken by the United Nations (UN) is presumed to drive demand for clean hydrogen. Furthermore, the rising popularity of green hydrogen in automotive and aerospace and limiting the dependency on crude oil from Organization of the Petroleum Exporting Countries (OPEC) countries is also likely to bode well for the market growth over the next few years. The Original Equipment Manufacturers (OEMs) in the market for turboexpanders are adopting a customer-centric approach to manufacturing customized turboexpanders for hydrogen liquefaction to serve their customers. For instance, in May 2021, PBS Group, one of the key vendors in the market, developed CTE 300, a new turboexpander explicitly designed for hydrogen applications. The newly developed product will have a maximum inlet pressure of over 5 MPa with a cooling power of up to 100 kW. Turboexpander Market Report Highlights
Over the forecast period, the large-scale adoption of radial expanders for low output power applications such as hot gas expanders used in refineries, binary cycle geothermal plants, and other low power cryogenic plants contributed to the more than 50% revenue share.
The 1MW-4MW segment is projected to surpass USD 400 million by 2030. Increasing demand for Natural Gas Vehicles (NGVs) is expected to create the need for small power capacity LNG terminals, which is projected to favor the growth of the less than 1MW and 1 MW-4 MW power segments over the forecast period.
The compressor segment accounted for more than 40% of the global market share in 2021, growing at a moderate CAGR from 2022 to 2030. Compressor-loaded turboexpanders are the most common arrangement in industries and are extensively used in LNG feed-gas treatment (onshore and floating), high demanding cryogenic, and energy recovery applications.
Over the next few years, the cryogenic application is expected to dominate the market with a revenue share of more than 30%. A surge in demand for nitrogen gas in the healthcare sector for applications such as cryopreservation, cryotherapies, and cryosurgeries is expected to favor the market growth over the forecast period.
The oil & gas segment continues to grow with the highest 5.8% CAGR during the forecast period. It can be attributed to the increase in the number of LNG project terminals across the emerging economies.
The Asia Pacific accounted for more than 30% market share in 2021. The regional market is primarily driven by China, India, and Japan which are increasing their investment in hydrogen liquefactions.
Atlas Copco AB; Air Products Inc. (ROTOFLOW); Linde Plc (Cryostar); and Siemens Energy (Siemens AG) are among the top five companies, attaining more than 55% of the market share in 2021.
Key Topics Covered: Chapter 1. Methodology and Scope
Chapter 2. Executive Summary Chapter 3. Market Trends, Variables, and Scope 3.1. Market Segmentation 3.2. Market Size and Growth Prospects, 2018-2030 3.3. Value Chain Analysis 3.4. Market Dynamics 3.4.1. Market driver analysis 3.4.2. Market restraint analysis 3.4.3. Market opportunity analysis 3.5. Key Opportunities Prioritized 3.6. Industry Analysis-Porter's Five Force Analysis 3.7. Industry Analysis-PEST Analysis 3.8. COVID-19 Impact Analysis Chapter 4. Turboexpander Market: Product Type Outlook 4.1. Turboexpander Market Share by Product Type, 2021 & 2030 (USD Million) 4.2. Axial 4.2.1. Market estimates and forecast, 2018-2030 (USD Million) 4.2.2. Market estimates and forecast by region, 2018-2030 (USD Million) 4.3. Radial 4.3.1. Market estimates and forecast, 2018-2030 (USD Million) 4.3.2. Market estimates and forecast by region, 2018-2030 (USD Million) Chapter 5. Turboexpander Market: Loading Device Outlook 5.1. Turboexpander Market Share by Loading Device, 2021 & 2030 (USD Million) 5.2. Compressor 5.2.1. Market estimates and forecast, 2018-2030 (USD Million) 5.2.2. Market estimates and forecast by region, 2018-2030 (USD Million) 5.3. Generator 5.3.1. Market estimates and forecast, 2018-2030 (USD Million) 5.3.2. Market estimates and forecast by region, 2018-2030 (USD Million) 5.4. Hydraulic/Oil-Brake 5.4.1. Market estimates and forecast, 2018-2030 (USD Million) 5.4.2. Market estimates and forecast by region, 2018-2030 (USD Million) Chapter 6. Turboexpander Market: Power Capacity Outlook 6.1. Turboexpander Market Share by Power Capacity, 2021 & 2030 (USD Million) 6.2. Less than 1MW 6.2.1. Market estimates and forecast, 2018-2030 (USD Million) 6.2.2. Market estimates and forecast by region, 2018-2030 (USD Million) 6.3. 1 MW -4 MW 6.3.1. Market estimates and forecast, 2018-2030 (USD Million) 6.3.2. Market estimates and forecast by region, 2018-2030 (USD Million) 6.4. 5 MW-9MW 6.4.1. Market estimates and forecast, 2018-2030 (USD Million) 6.4.2. Market estimates and forecast by region, 2018-2030 (USD Million) 6.5. 10 MW-19MW 6.5.1. Market estimates and forecast, 2018-2030 (USD Million) 6.5.2. Market estimates and forecast by region, 2018-2030 (USD Million) 6.6. 20 MW-24 MW 6.6.1. Market estimates and forecast, 2018-2030 (USD Million) 6.6.2. Market estimates and forecast by region, 2018-2030 (USD Million) 6.7. 25 MW-40 MW 6.7.1. Market estimates and forecast, 2018-2030 (USD Million) 6.7.2. Market estimates and forecast by region, 2018-2030 (USD Million) 6.8. Above 40 MW 6.8.1. Market estimates and forecast, 2018-2030 (USD Million) 6.8.2. Market estimates and forecast by region, 2018-2030 (USD Million) Chapter 7. Turboexpander Market: Application Outlook 7.1. Turboexpander Market Share by Application, 2021 & 2030 (USD Million) 7.2. Air Separation 7.2.1. Market estimates and forecast, 2018-2030 (USD Million) 7.2.2. Market estimates and forecast by region, 2018-2030 (USD Million) 7.3. Oil & Gas Processing 7.3.1. Market estimates and forecast, 2018-2030 (USD Million) 7.3.2. Market estimates and forecast by region, 2018-2030 (USD Million) 7.4. Cryogenic Application 7.4.1. Market estimates and forecast, 2018-2030 (USD Million) 7.4.2. Market estimates and forecast by region, 2018-2030 (USD Million) 7.5. Others 7.5.1. Market estimates and forecast, 2018-2030 (USD Million) 7.5.2. Market estimates and forecast by region, 2018-2030 (USD Million) Chapter 8. Turboexpander Market: End-Use Outlook 8.1. Turboexpander Market Share by End Use, 2021 & 2030 (USD Million) 8.2. Oil & Gas 8.2.1. Market estimates and forecast, 2018-2030 (USD Million) 8.2.2. Market estimates and forecast by region, 2018-2030 (USD Million) 8.3. Energy & Power 8.3.1. Market estimates and forecast, 2018-2030 (USD Million) 8.3.2. Market estimates and forecast by region, 2018-2030 (USD Million) 8.4. Chemical & Petro Chemical 8.4.1. Market estimates and forecast, 2018-2030 (USD Million) 8.4.2. Market estimates and forecast by region, 2018-2030 (USD Million) 8.5. Others 8.5.1. Market estimates and forecast, 2018-2030 (USD Million) 8.5.2. Market estimates and forecast by region, 2018-2030 (USD Million) Chapter 9. Turboexpander Market: Regional Outlook Chapter 10. Competitive Analysis Chapter 11. Competitive Landscape 11.1. Atlas Copco AB 11.1.1. Company overview 11.1.2. Financial performance 11.1.3. Product benchmarking 11.1.4. Recent developments 11.2. Air Products Inc. (ROTOFLOW) 11.2.1. Company overview 11.2.2. Financial performance 11.2.3. Product benchmarking 11.2.4. Recent developments 11.3. Air Liquide (formerly Nikkiso Cryogenic Industries) 11.3.1. Company overview 11.3.2. Financial performance 11.3.3. Product benchmarking 11.3.4. Recent developments 11.4. Baker Hughes Company 11.4.1. Company overview 11.4.2. Financial performance 11.4.3. Product benchmarking 11.4.4. Recent developments 11.5. Chart Industries (L.A. Turbine) 11.5.1. Company overview 11.5.2. Financial performance 11.5.3. Product benchmarking 11.5.4. Recent developments 11.6. Cryostar SAS (Linde Plc) 11.6.1. Company overview 11.6.2. Financial performance 11.6.3. Product benchmarking 11.6.4. Recent developments 11.7. R&D Dynamics Corporation 11.7.1. Company overview 11.7.2. Financial performance 11.7.3. Product benchmarking 11.7.4. Recent developments 11.8. Elliott Group (EBARA Corporation) 11.8.1. Company overview 11.8.2. Financial performance 11.8.3. Product benchmarking 11.8.4. Recent developments 11.9. Siemens Energy (Siemens AG) 11.9.1. Company overview 11.9.2. Financial performance 11.9.3. Product benchmarking 11.9.4. Recent developments 11.10. Man Energy 11.10.1. Company overview 11.10.2. Financial performance 11.10.3. Product benchmarking 11.10.4. Recent developments 11.11. PBS Group, a. s. 11.11.1. Company overview 11.11.2. Financial performance 11.11.3. Product benchmarking 11.11.4. Recent developments 11.12. Turbogaz. 11.12.1. Company overview 11.12.2. Financial performance 11.12.3. Product benchmarking 11.12.4. Recent developments 11.13. Others 11.13.1. Honeywell International Inc 11.13.2. Blair Engineering 11.13.3. Tibo 11.13.4. Sichuan Air Separation Plant Group 11.13.5. Suzhou XIDA Cryogenic Equipment Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/tttnvq
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