About Turbo Expander
With the growing need for electrical supply due to increasing industrialization has led to increasing in the demand for turbo expanders. The turbo expanders have experienced significant product developments over the past decade. Moreover, with increasing awareness about environmental effects adoption of turbo expanders has increased over the past couple of years. Turbo Expanders are the axial-flow or a centrifugal turbines which are used for expanding high-pressure gas. This high-pressure gas facilitates the rotation of turbines and is transmitted to the shaft. The generated energy in this process can be used in driving compressors or power generation. Power of these devices may range from 750W to 7.5MW which approximately equals to 1hp and 10,000hp.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
CAGR | 6.05% |
The Manufacturers having a strong hold in the market are Cryostar SAS, Atlas Copco AB, and GE Oil and Gas. Analyst at AMA Research estimates that Chinese and European Manufacturers will contribute the maximum growth to Global Turbo Expander market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cryostar SAS (France), Atlas Copco AB (Sweden), GE Oil and Gas (United States), Air Products and Chemicals, Inc. (United States), ACD LLC (United States), L.A. Turbine (United States), Turbogaz LLC (Ukraine), Samsung Group (South Korea), MG Messtechnik GmbH (Germany) and Hangzhou Hangyang Co. Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Sichuan Air Separation Group (SASPG) (China), Suzhou Xida Diwen Equipment Limited Company (China), Beifang Jinta Industrial Co. Ltd. (China) and HUAYU Electronic Technology Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Turbo Expander market by Type (Radial-Axial Turbo Expander, Radial Turbo Expander and Axial Turbo Expander), Application (Air Separation, Liquefied Natural Gas(LNG), Petrochemical Processing, Waste Heat or Another power recovery and Others) and Region.
On the basis of geography, the market of Turbo Expander has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2024. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Device Type, the sub-segment i.e. Compressor (Centrifugal) will boost the Turbo Expander market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Oil and Gas will boost the Turbo Expander market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction to Turbo Expanders which can sustain High Pressure and Various Industrial Materials and Growing Uses of Pipelines across the Globe
Market Growth Drivers:
Robust Demand from the Asia Pacific Market for Turbo Expanders and Rising Applications of Natural Gas to cope up with the Power Supply Needs
Challenges:
Stringent Social as well as Political across the Globe
Restraints:
Higher Initial Investments and Maintenance Cost and Complex to Include the Turbo Expanders in Existing Power Supply Systems
Opportunities:
Escalating Industrialization in the Emerging Economies and Comparatively Less Polluting System as compared other Sources
Market Leaders and their expansionary development strategies
On 9th April 2019, Atlas Copco has acquired PSI Compressors of Brockville Incorporated. The company is a distributor of compressors in the south-eastern part of Ontario. This acquisition will enable the company to develop its presence in eastern Ontario. Moreover, it will allow the organization to increase direct sales and services in this important region.
On 25th March 2019, Linde plc has consolidated its hydrogen equipment operations under the subsidiary, Linde Hydrogen Fuel Tech GmbH, to leverage its extensive expertise in the field of hydrogen fuelling technologies. In addition to this, Dr. Christian Bruch, an Executive Vice President & CEO Linde Engineering has concluded that the above partnership will leverage extensive experience in the development of hydrogen infrastructure even more effectively in the future. The new company will focus on key growth hydrogen regions in Western Europe, North America, Korea, and China.
Key Target Audience
Turbo Expander Manufacturers, Turbo Expander Distributors, Traders, Upstream and Downstream Buyers, Government Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.