Turboexpander Market Survey Report – Recent Trends, Growth Opportunities, and Market Size and Share Global Forecast Analysis – 2024 - 2033

Turboexpander Market Size Survey Report – In a Glance

As per the survey report on global Turboexpander market, the market is projected to foresee a CAGR of 6.8% between 2024-2033, and further generate a market size of USD 58.2 billion by the end of 2033. In the year 2023, the market size was valued at USD 35.98 billion.

• The global Turboexpander market is projected to grow on account of the increasing demand for liquefied natural gas.
• In Japan, the Turboexpander market growth can be attributed to the expansion of industrial gas processing.
• KDMI analyst’s growth analysis foresees high initial investment to challenge the market growth.
• The Asia Pacific Turboexpander market is projected to dominate the global market.

Turboexpander Market Analysis

A turboexpander is a device used in processing gas in order to recover energy from high-pressure gas steams. It operates on the principle of expanding high-pressure gas through a turbine, converting kinetic energy into mechanical energy work. This output can be utilized to drive a generator to produce electricity or to compress gas in a refrigeration cycle. They are a vital component in application such as natural gas liquefication, air separation, and petrochemical processes. With the developing demand of LNG due to its special properties, there is a rising need for Turboexpanders in LNG production facilities. These devices have become a crucial part in industries to facilitate various liquefaction processes. The global trade in LNG slightly increased from 397 million tons in 2022 to 404 million tons, instead of tight supplies that have kept prices and volatility above the historical average. Atlas Copco, Siemens, and Honeywell are some of the significant parties in the global market for Turboexpander.

Analyst’s Observation on Japan Turboexpander Market Survey

In Japan, the market growth for Turboexpander can be attributed to the expansion of industrial gas processing. As industries such as petrochemicals, refining, and air separation expand, there is an increasing demand for Turboexpanders to perform gas processing operations. As per reports, Japan Petrochemical Industry Association, the country exported about USD 10 billion worth of petrochemicals in 2021 and expects a greater rise in the rate, driving the market growth. Mitsubishi Heavy Industries, Hitachi, and Toshiba are some of the significant parties in the market for Turboexpander in Japan.

Turboexpander Market Growth Drivers and Challenges

• Increasing demand for liquefied natural gas:

As the demand for liquefied natural gas grows it acts as a significant driver for the market. As countries are shifting towards clean and green energy substitutes, LNG appears as a preferred solution due to its lower emissions quality. Industries and power plants worldwide are increasingly turning to LNG as a cleaner alternative to traditional fuels. Additionally, the rise in LNG demand is fueled by its application in transportation, heating, and electricity generation, further expanding the market.

• High initial investment:

The significant capital required for purchasing and installing turboexpanders cause a barrier to the market growth, particularly for smaller companies or projects with budget constraints.

Turboexpander Market Segmentation

Our experts at KD Market Insights have segmented the global Turboexpander market research report as:

Turboexpander Market Regional Synopsis

The Asia Pacific Turboexpander market is majorly driven by growing utilization of natural gas to generate power. As countries like India, China and Japan are shifting towards cleaner energy sources, natural gas emerges as a suitable option due to its lower emissions and efficiency. Turboexpanders play a crucial role in extracting energy from high-pressure gas streams, making them essential components in natural gas and power generation facilities. According to survey reports, China formulated a gas-to-power strategy to raise the percentage of natural gas in its overall power generation blend from 4.8% in 2021 to 15% by 2030.

As per our analysts at KD Market Insights, the following five players lead the Asia Pacific Turboexpander market growth:

• Atlas Copco
• Air Products and Chemicals, Inc.
• Cryostar
• L.A. Turbine
• Honeywell UOP

Turboexpander Market Competitive Landscape

Some of the key players who top the global Turboexpander market share:

• Atlas Copco
• Baker Hughes
• Cryostar
• Air Products & Chemicals, Inc.
• L.A. Turbine
• Honeywell
• Man Energy Solutions
• Siemens
• ACD LLC
• Elliott Group
• R&D Dynamics Corporation
• Turbogaz

Turboexpander Market Recent Developments

• L.A. Turbine announces the release of ARES Active Magnetic Bearing (AMB) turboexpander-compressor that is designed for a 200MMSCFD gas processing plant.
• Sapphire Technologies and TB Global Technologies Ltd. announced the development of a turboexpander generator that will harnesses waste energy in city gas transportation routes

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Turboexpander Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Loading Device
      2. By Application
      3. By End-User
      4. By Region
5. Market Segmentation by Loading Device
   1. Compressor
   2. Generator
   3. Oil Break
6. Market Segmentation by Application
   1. Hydrocarbon Turboexpanders
   2. Air Separation Turboexpanders
   3. Others
7. Market Segmentation by End-User
   1. Oil & Gas
   2. Manufacturing
   3. Power Generation
8. Regional Analysis
   1. North America
      1. United States
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      2. Canada
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      3. Mexico
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
   2. Europe
      1. United Kingdom
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      2. Germany
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      3. France
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      4. Italy
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      5. Spain
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      6. Rest of Europe
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
   3. Asia Pacific
      1. China
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      2. Japan
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      3. India
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      4. Australia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      5. South Korea
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      6. Rest of Asia Pacific
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
   4. Latin America
      1. Brazil
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      2. Argentina
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      3. Colombia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      4. Rest of Latin America
         1. Market Size and Forecast
         2. Key Trends and Developments
         3.               Market Analysis by Loading Device and Application
   5. Middle East & Africa
      1. South Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      2. Saudi Arabia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      3. UAE
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
      4. Rest of Middle East & Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Loading Device and Application
9. Competitive Landscape
   1. Market Share Analysis
   2. Company Profiles
      1. Atlas Copco
      2. Baker Hughes
      3. Cryostar
      4. Air Products & Chemicals, Inc.
      5. L.A. Turbine
      6. Honeywell
      7. Man Energy Solutions
      8. Siemens
      9. ACD LLC
      10. Elliott Group
      11. R&D Dynamics Corporation
      12. Turbogaz
10. Strategic Recommendations
11. Appendix
    1. List of Tables
    2. List of Figures
12. References