The Asia Pacific turboexpander market was valued at US$ 370.28 million in 2022 and is expected to reach US$ 634.91 million by 2030; it is estimated to record a CAGR of 7.0% from 2022 to 2030.
With the growing demand for cryogenic fluids and advancements in cryogenic industries, the demand for competent turboexpanders is on the rise, especially in space appliances, superconductivity, turbochargers, biomedical and petrochemical industries, and chemical instruments, among others. A turboexpander also works as a distributed generator that can be leveraged to capture the surplus energy. The turboexpander generator decreases gas pressure and transforms the kinetic energy into electrical energy, which can be sold to the grid. The growing application of turboexpanders, owing to their efficiency and competence in different applications, is anticipated to present opportunities in the turboexpanders market during the forecast period.
With a growing emphasis on sustainability, several Asia Pacific 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 Asia Pacific, 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.
Use of Turboexpander as Distributed Generator Boosts Asia Pacific Turboexpander Market
Turboexpander is an axial flow or centrifugal turbine used to expand high-pressure gas to generate work that is primarily employed to drive a compressor. This turbine system can be deployed in applications such as ethylene plants, gas transportation, air separation facilities, and refineries to convert the energy of a vapor stream or gas into mechanical work as the vapor or gas expands through the turbine. A turboexpander transforms the wasted energy in the gas into electricity.With the growing demand for cryogenic fluids and advancements in cryogenic industries, the demand for competent turboexpanders is on the rise, especially in space appliances, superconductivity, turbochargers, biomedical and petrochemical industries, and chemical instruments, among others. A turboexpander also works as a distributed generator that can be leveraged to capture the surplus energy. The turboexpander generator decreases gas pressure and transforms the kinetic energy into electrical energy, which can be sold to the grid. The growing application of turboexpanders, owing to their efficiency and competence in different applications, is anticipated to present opportunities in the turboexpanders market during the forecast period.
Asia Pacific Turboexpander Market Overview
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. Asia Pacific 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 Asia Pacific 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 Asia Pacific, 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.
Asia Pacific Turboexpander Market Segmentation
- The Asia Pacific turboexpander market is segmented based on loading device, power capacity, end user, and country. Based on loading device, the Asia Pacific turboexpander market is segmented into compressor, generator, and hydraulic/oil brake. The compressor segment held the largest market share in 2022.
- In terms of power capacity, the Asia Pacific turboexpander market is categorized into less than 1 MW, 1 MW to 20 MW, and more than 20 MW. The 1 MW to 20 MW segment held the largest market share in 2022. The 1 MW to 20 MW segment is further bifurcated into Up to 500 KW and 500 KW to 1 MW.
- By end user, the Asia Pacific turboexpander market is segmented into oil & gas, power generation, and industrial. The oil & gas segment held the largest market share in 2022.
- Based on country, the Asia Pacific turboexpander market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific turboexpander market share in 2022.
- Elliott Co, Air Products & Chemicals Inc, Atlas Copco AB, Cryostar SAS, Turboden SpA, L'Air Liquide SA, ZJ-Tibo, and Siemens Energy AG are some of the leading players operating in the Asia Pacific turboexpander market.
Market Highlights
- Based on loading device, the Asia Pacific turboexpander market is categorized into compressor, generator, and hydraulic/oil brake. The compressor segment held 47.6% market share in 2022, amassing US$ 176.35 million. It is projected to garner US$ 298.88 million by 2030 to register 6.8% CAGR during 2022-2030.
- In terms of power capacity, the Asia Pacific turboexpander market is segmented into less than 1 MW, 1 MW to 20 MW, and more than 20 MW. The 1 MW to 20 MW segment held 47.7% share of Asia Pacific turboexpander market in 2022, amassing US$ 176.72 million. It is projected to garner US$ 308.93 million by 2030 to expand at 7.2% CAGR during 2022-2030. The 1 MW to 20 MW segment is further bifurcated into Up to 500 KW and 500 KW to 1 MW.
- The oil & gas segment held 56.0% share of Asia Pacific turboexpander market in 2022, amassing US$ 207.21 million. It is projected to garner US$ 345.86 million by 2030 to expand at 6.6% CAGR during 2022-2030.
- This analysis states that China captured 38.4% share of Asia Pacific turboexpander market in 2022. It was assessed at US$ 142.22 million in 2022 and is likely to hit US$ 245.58 million by 2030, exhibiting a CAGR of 7.1% during 2022-2030.
- In November 2022, Rotoflow, an Air Products business opened a new Solutions Center in Shanghai, China, to better serve the turbomachinery needs of customers throughout Asia. The facility will repair and service rotating machinery, provide assembly and part cleaning, optimize and troubleshoot equipment, and build new equipment for HPN Plants and support Air Products equipment for Hydrogen for Mobility. Rotoflow's turbomachinery capabilities include gasification, air separation, helium, LNG, hydrocarbon, petrochemical, and energy market segments. The center will also service turboexpanders, centrifugal compressors, reciprocating compressors, cryogenic pumps, small steam and gas turbines, gearboxes, fans, and blowers.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific turboexpander market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific turboexpander market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific turboexpander market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Asia Pacific Turboexpander Market Landscape
5. Asia Pacific Turboexpander Market - Key Market Dynamics
6. Turboexpander Market - Asia Pacific Market Analysis
7. Asia Pacific Turboexpander Market Analysis - by Loading Device
8. Asia Pacific Turboexpander Market Analysis - by Power Capacity
9. Asia Pacific Turboexpander Market Analysis - by End user
10. Asia Pacific Turboexpander Market - Country Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Companies Mentioned
Some of the leading companies in the Asia Pacific Turboexpander market include:- Elliott Co
- Air Products & Chemicals Inc
- Atlas Copco AB
- Cryostar SAS
- Turboden SpA
- L'Air Liquide SA
- ZJ-Tibo
- Siemens Energy AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 95 |
| Published | August 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 370.28 Million |
| Forecasted Market Value ( USD | $ 634.91 Million |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 9 |
![Turboexpander Market Size and Forecasts, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Loading Device, Power Capacity [Less than 1 MW, 1 MW to 20 MW, and More than 20 MW], End User, and Geography - Product Image](http://www.researchandmarkets.com/product_images/11634/11634370_60px_jpg/turbo_expanders_market.jpg)
