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.
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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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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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