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Turboexpander Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Loading Device (Compressor, Generator, and Hydraulic/Oil Brake), Power Capacity [Less than 1 MW (Up to 500 KW and 500 KW to 1 MW), 1 MW to 20 MW, and More than 20 MW], End User (Oil and Gas, Power Generation, and Industrial), and Geography

According to our latest study on “Turboexpander Market Forecast to 2030 –Global Analysis – by Loading Device, Power Capacity, and End User," the market is expected to grow from US$ 1,106.97 million in 2022 to US$ 1,751.48 million by 2030; it is anticipated to record a CAGR of 5.9% from 2022 to 2030.
Cryogenic liquids are gases in the liquefied form at low temperature conditions. Cryogenic turbines facilitate the expansion of liquefied gas to decrease pressure and convert hydraulic energy to electric energy to control the enthalpy of liquefied gas and aid energy recovery. The cryogenic expanders are being used in diverse application areas including refineries, ethylene plants, air separation facilities, and gas processing plants. These expanders help in generating the coldest level of refrigeration and also large quantities of liquid are condensed in the gas expansion process. Thus, advancements in cryogenic turbines are anticipated to provide growth opportunities in the turboexpander market size during the forecast period.
Key Findings of Market Study:
In terms of revenue, North America dominated the turboexpander market share. The turboexpander market growth in Asia Pacific (APAC) is attributed to dynamic growth and strategic significance across diverse industries. With a robust energy demand, industrial expansion, and increasing focus on sustainability, turboexpanders have become pivotal components in various sectors. APAC countries are experiencing a surge in energy demand due to rapid urbanization and industrialization, necessitating the development of efficient energy infrastructure. Turboexpanders play a critical role in energy generation, particularly in power plants, where they harness energy from high-pressure gas streams, contributing to the optimization of energy production. With a growing emphasis on sustainability, several APAC countries are investing substantially in renewable energy projects, including solar thermal, biomass gasification, and geothermal. Turboexpanders find emerging interest in renewable energy projects in APAC, enhancing energy efficiency and power generation. Moreover, the demand for turboexpanders in petrochemical plants and chemical processing facilities is on the rise with the burgeoning industrial sector in APAC, notably in countries such as China and India. Owing to the convergence of energy demands, industrial expansion, and sustainability initiatives, turboexpanders are gaining high importance across the energy and petrochemical landscape in this region due to their ability to enhance operational efficiencies. The evolution of Australia's electricity generation mix, with a growing emphasis on renewables such as solar thermal, biomass to energy generation, energy recovery, and a diminishing reliance on coal, presents opportunities for the turboexpander market growth in the country. Electricity generation from renewable energy sources such as biomass, natural gas, and geothermal involves the utilization of high-pressure gases or fluids, where turboexpanders can play a crucial role. These devices are adept at recovering energy from such sources, enhancing overall efficiency in power generation processes. Turboexpanders can contribute to the efficiency and sustainability of electricity generation from renewable sources, aligning with the global trend toward cleaner energy solutions.
Atlas Copco AB, Air Products & Chemicals Inc., Elliott Group, Cryostar SAS, Sapphire Technologies Inc, Turboden SpA, L’Air Liquide SA, ZJ-Tibo, R and D Dynamics Corporation, and Siemens Energy are among the key players covered in the turboexpander market report. The turboexpander market report includes growth prospects owing to the current turboexpander market trends and their foreseeable impact during the forecast period.