Global Turboexpander Market Scenario
The global Turboexpander Market is poised to grow at 7.23% during 2018 to 2023 forecasts
Market Research Future (MRFR). Turboexpanders find cryogenic application across
different types of natural gas, and petrochemicals. They are also utilized in
air separation industries. Over the years, turboexpanders have undergone
several phases of technological transformation. Product innovation remains
major focus area for manufacturers, which is making a positive impact on the
market. Latest versions of turboexpanders are highly efficient and have high
processing capacities. This makes
turboexpanders a sought-after equipment in the oil and gas industry. A detailed analysis report of COVID-19 impact on Turboexpander Market Share is provided with the report.
Turboexpanders find
application in LNG reliquification, compression and cooling. In addition, they
are also used for generating power from the excess gases in fertilization
process. As global natural gas
consumption rises further on account of rapid inclination towards low emission
fuels, the turboexpander market finds attractive growth opportunities. LNG is
witnessing a significant uptake in countries such as India, China, Russia, and
the U.S. this is boosting the need for turboexpanders for processing natural
gas. Such factors are supporting the market tremendously.
As the wold shifts its
focus toward alternation fuels to tacking issues such as global warming and Co2
emission, market players will find attractive growth opportunities. Natural
gases are touted as an efficient fossil fuel as they have negligible emission
issues, indicating that most of the content in natural gas in utilized.
Global Turboexpander Market:
Segmental Analysis
Segmental analysis of
the market has been segmented into application, loading device type, end-use
industry and region
On the basis of application, the market has been segmented into generation of energy from waste gases, air separation, hydrocarbon and others (pressure letdown and geothermal). The hydrocarbon segment is expected to retain its top position over 2023. The segment’s growth can be attributed to the increasing use of turboexpanders in NGL recovery, ethane recovery, dew point control, and LNG production. On the basis of loading device type, the market has been segmented into oil break, generator, and compressor. The compressor segment is expected to remain highly attractive during the forecast period. This is mainly owing to widespread application compressors in LNG processing. On the basis of end-use, the market has been segmented into manufacturing, power generation, and oil and gas. In terms of value, the oil and gas segment currently accounts for the lion’s share of the market and trend is likely to continue throughout the assessment period. The increased demand for LNG and LPG can be linked with the segment’s growth.
On the basis of application, the market has been segmented into generation of energy from waste gases, air separation, hydrocarbon and others (pressure letdown and geothermal). The hydrocarbon segment is expected to retain its top position over 2023. The segment’s growth can be attributed to the increasing use of turboexpanders in NGL recovery, ethane recovery, dew point control, and LNG production. On the basis of loading device type, the market has been segmented into oil break, generator, and compressor. The compressor segment is expected to remain highly attractive during the forecast period. This is mainly owing to widespread application compressors in LNG processing. On the basis of end-use, the market has been segmented into manufacturing, power generation, and oil and gas. In terms of value, the oil and gas segment currently accounts for the lion’s share of the market and trend is likely to continue throughout the assessment period. The increased demand for LNG and LPG can be linked with the segment’s growth.
Global Turboexpander Market: Regional Analysis
Asia Pacific tops the
world ranking in terms of turboexpander demand. The rapid expansion of the oil
and gas sector in region is providing an impetus to the APAC turboexpander
market. Moreover, rising consumption of natural gases in countries such as
India and China is creating growth avenues for the market. North America is one
of the most valuable markets for turboexpander in the world. The region is the
largest consumer of natural gas products and expected to retain its leading
position during the forecast period. It remains a major investment destination
for turboexpanders manufacturer. The U.S.’s prowess in the oil & gas sector
is a major favouring the market growth in North America. Russia is the second
largest consumer of natural gases, which puts its name on the higher echelons of
the global turboexpander market.
Global Turboexpander Market: Competition Analysis
Some of the leading
companies discussed in MRFR’s report include Baker Huges a GE company (US), Air
Products & Chemicals.Inc (US), Honeywell (US), Siemens (Germany), Elliot
Group (US), Turbogaz (Ukraine), Atlas Corpo (Sweden), Man Energy Solutions
(Germany), L.A. Turbine (US), R&D Dynamics Corporation (US), ACD LLC
(Switzerland) and Cyrostar (France).
About Market
Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
Read
More:
https://www.agreatertown.com/united_states_minor_outlying_islands_un/microgrid_market_overview_size_share_global_industry_growth_analysis_and_trends_by_forecast_to_2023_0008059324 https://sites.google.com/view/microgrid-market-analysis/home
No comments:
Post a Comment