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Global Turbo Expanders Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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  • 145 Pages
  • November 2023
  • Region: Global
  • IMARC Group
  • ID: 5912248

Quick Summary:

In the dynamic sphere of energy and resource management, the turbo expanders market stands out as a critical component for innovation and efficiency in industrial applications. At the heart of numerous operational processes, from natural gas processing to energy recovery, turbo expanders have become indispensable in the drive toward optimized power generation and performance. Enhanced by advanced manufacturing techniques, today's turbo expanders are tailored to meet the rigorous demands of modern industry, offering increased reliability and peak efficiency.

Decision-makers seeking a competitive edge will find this comprehensive market research report invaluable. It delves into the utilization of turbo expanders across a myriad of industrious settings, particularly in the oil and gas sector where they play a pivotal role in optimizing resource extraction and refining processes. Moreover, the report segments the market meticulously, providing a granular view of current trends and future projections that are essential for strategic planning. From the integration of state-of-the-art design features to the diversification of applications in pursuit of carbon-neutrality, this analysis is a must-have resource for those who aspire to lead in efficiency and innovation.

The global turbo expanders market size reached US$ 332.6 Million in 2022. Looking forward, the market is expected to reach US$ 502.0 Million by 2028, exhibiting a growth rate (CAGR) of 7.10% during 2022-2028.

Turbo expanders are centrifugal or axial flow turbines through which a high-pressure gas drives a generator or compressor. They are widely utilized in the gas supply chain, energy recovery, and power generation during natural gas processing and petrochemical applications. They are also used in industrial processes to produce refrigerants for the liquefaction of gases, such as oxygen, nitrogen, and helium. Presently, several manufacturers are offering turbo expanders incorporated with computer-aided tools, such as finite-element analyses (FEA), computer numerical control (CNC) machining, and computational fluid dynamics (CFD). These turbo expanders offer enhanced design and key features, such as compressor stage, maximized efficiency, and improved reliability.

Turbo Expanders Market Trends

In oil and gas facilities, turbo expander systems are extensively utilized in dew-point control (DPC), nitrogen rejection, pressure let-down, and fluid catalytic cracking (FCC). They optimize power generation potential and efficiency and facilitate the production of natural gas liquids (NGL) by removing ethane and heavy hydrocarbons like gasoline blends from natural gas. This, in confluence with surging energy needs and rapid rise in the installation of turbo expanders in offshore oil production sites, represents one of the key factors fueling the market growth. Apart from this, leading manufacturers are using sophisticated techniques to develop modern multilink turbo expanders that can adjust inlet guide vanes (IGVs) for precision flow control and minimal actuating forces. Furthermore, due to a shift in consumer preferences towards carbon-neutrality and economic efficiency, these manufacturers are offering customized products for complex industrial processes, which is driving the market. These products can be used in a broad range of applications, such as nitric acid, terephthalic acid, gasification, and blast furnace top gas recovery plants.

Key Market Segmentation

This research provides an analysis of the key trends in each sub-segment of the global turbo expanders market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on loading devices, application, and end-use industry.

Breakup by Loading Devices:

  • Compressor
  • Generator
  • Hydraulic Brake

Breakup by Application:

  • Hydrocarbon Turboexpanders
  • Air Separation Turboexpanders

Breakup by End Use Industry:

  • Oil and Gas
  • Power Generation
  • Energy Recovery

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Latin America
  • Brazil
  • Mexico
  • Middle East and Africa

Competitive Landscape

The competitive landscape of the industry has also been examined along with the profiles of the key players being Air Products & Chemicals Inc., Atlas Copco, Baker Hughes Company (General Electric Company), Blair Engineering, Elliott Group (Ebara Corporation), HangZhou Oxygen Plant Group, LA Turbine (Chart Industries Inc.), PBS Group a. s., R&D Dynamics Corporation, Sichuan Air Separation Plant (Group) Co. Ltd., Suzhou Sida Cryogenic Equipment Co. Ltd. and Turbogaz.

Key Questions Answered in This Report:

  • How has the global turbo expanders market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global turbo expanders market?
  • What are the key regional markets?
  • What is the breakup of the market based on the loading devices?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the end use industry?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global turbo expanders market and who are the key players?
  • What is the degree of competition in the industry?
Frequently Asked Questions about the Global Turbo Expanders Market

What is the estimated value of the Global Turbo Expanders Market?

The Global Turbo Expanders Market was estimated to be valued at $332.6 Million in 2022.

What is the growth rate of the Global Turbo Expanders Market?

The growth rate of the Global Turbo Expanders Market is 7.1%, with an estimated value of $502 Million by 2028.

What is the forecasted size of the Global Turbo Expanders Market?

The Global Turbo Expanders Market is estimated to be worth $502 Million by 2028.

Who are the key companies in the Global Turbo Expanders Market?

Key companies in the Global Turbo Expanders Market include Amcor plc, Cold Ice Inc., Cryopak (Integreon Global), Deutsche Post AG, Drew Foam of Georgia, DS Smith plc, DuPont de Nemours Inc., Huhtamäki Oyj, Innovative Energy Inc. and Marko Foam Products Inc..

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Turbo Expanders Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Loading Devices
6.1 Compressor
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Generator
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Hydraulic Brake
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Application
7.1 Hydrocarbon Turboexpanders
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Air Separation Turboexpanders
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by End Use Industry
8.1 Oil and Gas
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Power Generation
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Energy Recovery
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States Market Trends Market Forecast
9.1.2 Canada Market Trends Market Forecast
9.2 Asia-Pacific
9.2.1 China Market Trends Market Forecast
9.2.2 Japan Market Trends Market Forecast
9.2.3 India Market Trends Market Forecast
9.2.4 South Korea Market Trends Market Forecast
9.2.5 Australia Market Trends Market Forecast
9.2.6 Indonesia Market Trends Market Forecast
9.2.7 Others Market Trends Market Forecast
9.3 Europe
9.3.1 Germany Market Trends Market Forecast
9.3.2 France Market Trends Market Forecast
9.3.3 United Kingdom Market Trends Market Forecast
9.3.4 Italy Market Trends Market Forecast
9.3.5 Spain Market Trends Market Forecast
9.3.6 Russia Market Trends Market Forecast
9.3.7 Others Market Trends Market Forecast
9.4 Latin America
9.4.1 Brazil Market Trends Market Forecast
9.4.2 Mexico Market Trends Market Forecast
9.4.3 Others Market Trends Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Air Products & Chemicals Inc. Company Overview Product Portfolio Financials SWOT Analysis
14.3.2 Atlas Copco Company Overview Product Portfolio Financials SWOT Analysis
14.3.3 Baker Hughes Company (General Electric Company) Company Overview Product Portfolio Financials SWOT Analysis
14.3.4 Blair Engineering Company Overview Product Portfolio
14.3.5 Elliott Group (Ebara Corporation) Company Overview Product Portfolio
14.3.6 HangZhou Oxygen Plant Group Company Overview Product Portfolio Financials
14.3.7 LA Turbine (Chart Industries Inc.) Company Overview Product Portfolio
14.3.8 PBS Group a. s. Company Overview Product Portfolio
14.3.9 R&D Dynamics Corporation Company Overview Product Portfolio
14.3.10 Sichuan Air Separation Plant (Group) Co. Ltd. Company Overview Product Portfolio
14.3.11 Suzhou Sida Cryogenic Equipment Co. Ltd. Company Overview Product Portfolio
14.3.12 Turbogaz Company Overview Product Portfolio

Companies Mentioned

  • Air Products & Chemicals Inc.
  • Atlas Copco
  • Baker Hughes Company (General Electric Company)
  • Blair Engineering
  • Elliott Group (Ebara Corporation)
  • HangZhou Oxygen Plant Group
  • LA Turbine (Chart Industries Inc.)
  • PBS Group a. s.
  • R&D Dynamics Corporation
  • Sichuan Air Separation Plant (Group) Co. Ltd.
  • Suzhou Sida Cryogenic Equipment Co. Ltd.
  • Turbogaz.