According to study, “World
Turbo Expander Market Research Report 2024(Covering USA, EU, China,
South East Asia, Japan and etc)” the key companies operating in the world turbo
expander market are Atlas Copco, Air Products and Chemicals, Inc., GE oil &
gas, ACD, L.A. Turbine, Turbogaz, Samsung, RMG, Shaanxi Blower Group, MES,
Sichuan Air Separation Group, Cryostar, HaerbinBeifang Equipment, KFAS, Suzhou West
of Cryogenic Equipment, Hangyang Group, HUAYU, Sichuan JianyangRuite Machinery.
Turbo expander is a combination of a compressor and
an expander in a single unit, where an expansion unit drives the compression
unit, and both are attached on a distinct shaft. It is also referred as
expansion turbines.It converts kinetic energy into mechanical energy through
passing pressurized & expanded gases via turbines. It has a power range
between 750W and 7.5MW. It is generally used as a source of refrigeration in
industrial processes for instance extraction of ethane & natural gas
liquids from natural gas, and liquefaction of other gases. Additionally, it
works in the process of refrigeration, power or electricity generation &
air separation and management of industrial waste through pipes. It is
manufactured considering many standards & guidelines, in order to sustain
high pressures or various industrial materials.
Based on type, turbo expander market is segmented
into axial turbo expanders, radial turbo expanders, and radial-axial turbo
expanders. Based on loading device, market is segmented into generators
(electrical), compressor (centrifugal)and hydraulic brake.Compressor segment is
anticipated to witness lucrative growth owing to rise in product utilization in
the processing of LNG during the forecast period. Based on application, market
is segmented into air separation, generation of energy from waste gases,
hydrocarbon and others (geothermal and pressure letdown).Hydrocarbon segment
dominates the market as turbo expanders are being extensively used in LNG
production, NGL recovery, ethane recovery, and dew point control. In addition,
based on end-use, market is segmented into oil & gas, power generation and
manufacturing. Oil & gas segment holds major share in market due to
increase in production & consumption of LPG and LNG.
The turbo expander market is driven by rise in focus
on energy efficiency, followed by increase in share of natural gas in primary
energy consumption, growth in innovative technologies and rise in usage of
pipelines. However, high initial cost for smaller installations and
availability of alternative energy recovery devices & pressure letdown
systems may impact the market. Moreover, rise in demand for cryogenic liquids
is a key opportunity for market.
Based on geography, USA country holds major share,
followed by EU in turbo expander market owing to higher emphasis on innovative
manufacturers ad rise in higher emphasis on innovative manufacturers in the
country.China country is expected to witness higher growth rate due to
efficient manufacturing processes and rise in demand for natural gas over the
forecast period. It is anticipated that the market will be reached at fast pace
on account of increase in need for extraction of more energy content and growth
in demand for efficient production systems during the forecast period. The
worldwide market is estimated to grow at a CAGR of approximately 2.9%, over the
next five years, will reach US $620 million by 2024, from US $520 million in
2019.
For more information on the research
report, refer to below link:
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