Global Turboexpander Market Overview:
Turboexpander is the machinery which is also known as expansion turbines which converts the gas energy into mechanical work. It offers a way to save the energy lost in the refineries or gas facilities. It is used in various applications including power generation, hydrocarbon processing, petrochemicals, air separation plants, etc. There are three types of turboexpanders including radial turboexpander, axial turboexpander, and radial-axial turboexpander.
As per latest study released by AMA Research, the Global Turboexpander market is expected to see growth rate of 5.4%Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Growth Drivers
- Growing Power Generation Industries and its Application in Hydrocarbon Processing
- Demand for Operational Flexibility in Handling Wide Range of Flowrates and Pressures
Roadblocks
- Stringent Regulatory Guidelines on Production of Turboexpander
Opportunities
- Technological Advancement in the Turboexpander
- Surging Demand for the Electricity in Rural Area will Boost the Turboexpander Market
Challenges
- Handling and Maintenance-related Problems with Turboexpander
- High initial costs of small-scale installations
Competitive Landscape:
The key players in the global turboexpander market are targeting mergers & acquisitions and partnerships in order to expand their offerings and enter into the turboexpander market. Vendors are also increasingly focusing on the innovation of the products to remain competitive in the global market.
Some of the key players profiled in the report are Baker Hughes Company (United States), Atlas Copco (Sweden), Air Products Inc. (United States), General Electric (United States), La Turbine (United States), TURBOGAZ (Ukraine), Air Liquide S.A. (France) and Sichuan Air Separation Plant Group (China). Additionally, following companies can also be profiled that are part of our coverage like Cryostar, Baker Hughes, Siemens Ag, Honeywell International Inc, Elliott Group and GE Energy. Considering Market by Components, the sub-segment i.e. Rotor will boost the Turboexpander market. Considering Market by Product, the sub-segment i.e. Direct Drive will boost the Turboexpander market.
Latest Market Insights:
In July 2021, Chart Industries, Inc. acquired L.A. Turbine a leading provider of design, engineering, manufacturing, assembly, and testing turboexpander. The acquisition helps expand Chart Industries' portfolio by bringing helium and hydrogen liquefaction capabilities commonly used in L.A. Turbine’s solutions.
On 7th January 2021, Nikkiso Cryogenic Industries’ Clean Energy and Industrial Gases Group (Group), a part of Nikkiso Co., Ltd (Japan), announces the sale of its Turboexpander Business Line to Air Liquide. Located mainly in Santa Ana, California, the Turboexpander Business Line designs manufactures and sells Turboexpanders within the industrial gas industry as well as the natural gas liquefaction industry. Air Liquide is a world leader in gases, technologies, and services for Industry and Health and has been the largest customer of the Nikkiso Group’s Turboexpander Business Line.
What Can be Explored with the Turboexpander Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Turboexpander Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Turboexpander
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Turboexpander market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Turboexpander market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers, International Traders, Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.