Turbo Expander Market Scope
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.
The market study is being classified by Type (Radial-Axial Turbo Expander, Radial Turbo Expander and Axial Turbo Expander), by Application (Air Separation, Liquefied Natural Gas(LNG), Petrochemical Processing, Waste Heat or Another power recovery and Others) and major geographies with country level break-up. According to AMA, the Global Turbo Expander market is expected to see growth rate of 6.05% and may see market size of USD408.32 Million by 2024.
The Manufacturers having a strong hold in the market are Cryostar SAS, Atlas Copco AB, and GE Oil and Gas. Research Analyst at AMA predicts that Chinese and European Manufacturers will contribute to the maximum growth of Global Turbo Expander market throughout the predicted period.
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 profiled in the study. Additionally, the Manufacturers which are also part of the research 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
AdvanceMarketAnalytics has segmented the market of Global Turbo Expander market by Type, Application 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 2018. Europe on the other hand stood as second largest market due to the presence of key companies into 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.
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.
Market Trend
- Introduction to Turbo Expanders which can sustain High Pressure and Various Industrial Materials
- Growing Uses of Pipelines across the Globe
Market Drivers
- Robust Demand from the Asia Pacific Market for Turbo Expanders
- Rising Applications of Natural Gas to cope up with the Power Supply Needs
Opportunities
- Escalating Industrialization in the Emerging Economies
- Comparatively Less Polluting System as compared other Sources
Restraints
- Higher Initial Investments and Maintenance Cost
- Complex to Include the Turbo Expanders in Existing Power Supply Systems
Challenges
- Stringent Social as well as Political across the Globe
Key Target Audience
Turbo Expander Manufacturers, Turbo Expander Distributors, Traders, Upstream and Downstream Buyers, Government Agencies and Others
Customization available in this Study:
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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