Global Turboexpander Market Scenario
The global
turboexpanders market is estimated to expand at 7.23% CAGR during the forecast
period. Turboexpanders are used for the sequential expansion and compression of
gases. Turboexpanders are mostly used by manufacturers in the liquefaction of
LNG, air separation, petrochemical and other cryogenic applications.
Turboexpanders are also useful in generating energy from waste gases, which has
become a major driver for the growth of the turboexpanders market.
Turboexpanders enable manufacturers to harness higher energy content from
fossil fuels. This factor has also been driving the growth of the global
turboexpanders market.
The rising demand
for turboexpanders is driven by the increased production and consumption of
natural gas. According to BP Statistical Review, the production of natural
gases grew by 4% in the year 2017. It is estimated that the growth will
continue during the forecast period. Asia-Pacific market for turboexpanders is
estimated to witness high growth during the forecast period due to the rising
demand for natural gases and the requirement for efficient production systems.
Industry Segmentation
Turboexpander market has been
segmented on basis of loading device, application, end-use, and region. On the
basis of loading device, the market is segmented as oil break, generator, and
compressor. Compressor segment is estimated to have the major share of the
turboexpander market because of the growing demand for efficient processing of
cryogenic liquids. On the basis of application, turboexpander market is
segmented into air separation, hydrocarbon, energy harvesting from waste gases
and others. Applications in hydrocarbon segment dominates the market as
turboexpanders tend to efficiently extract a higher amount of energy content
from the fossil fuels. On the basis of end-use, the turboexpander market is
segmented as, manufacturing, oil and gas and power generation. Oil and gas
segment is estimated to dominate the market during the forecast period as the
demand for natural gas products has been increasing worldwide. The global
turboexpanders market is expected to expand at ~ 7.23% CAGR during the forecast
period.
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Full Report @ https://www.marketresearchfuture.com/reports/turboexpander-market-6458
Key Players
The key players of
the global turboexpanders market are Atlas Copco (Sweden), Baker Huges a GE
company (US), Cyrostar (France), Air Products & Chemicals.Inc (US), L.A.
Turbine (US), Honeywell (US), Man Energy Solutions (Germany), Siemens
(Germany), ACD LLC (Switzerland), Elliot Group (US), R&D Dynamics
Corporation (US), and Turbogaz (Ukraine).
Scope of the Report
This research
report provides insights into various levels of analysis, such as industry
analysis and market share analysis for the leading industry competitors, along
with their profiles. It also helps in studying the target segments by providing
views on the emerging & high-growth segments. The market data comprises the
basic assessment of the competitive scenarios and strategies in the global
Subsea Well Access Systems market, including high-growth regions and/or
countries, and political and economic environments. The project report, further
provides both – historical market values and pricing & cost analysis
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