The Europe turboexpander market was valued at US$ 227.77 million in 2022 and is expected to reach US$ 325.78 million by 2030; it is estimated to record a CAGR of 4.6% from 2022 to 2030.
A turboexpander system is generally divided into three major parts: an expander, a compressor, and a bearing. Expander casing is generally made of stainless steel, and compressor casing and bearings are fabricated of carbon steel. Regular monitoring and periodic servicing are enough to maintain a turboexpander for many years. Repair time sometimes varies depending on the severity of the damage.
The design of turboexpanders may vary depending on the plant type. However, original equipment manufacturers (OEMs) have standardized a few of the common components, and some critical parts are exclusive to specific machines. Thus, low maintenance, convenient design, and high efficiency in applications are the major factors driving the turboexpanders market.
Among these products, gasoil accounted for 1.1 mb/d, fuel oil for 650 kb/d, naphtha for 500 kb/d, and vacuum gas oil (VGO) for 280 kb/d. Gasoline, liquefied petroleum gas (LPG), jet fuel, and petroleum coke comprised the remaining 350 kb/d. The prominence of Russia in global oil production and exports, coupled with its diverse range of oil products, indicates a robust and dynamic energy sector, which, in turn, benefits the turboexpander market in the country.
Easy Regulation, Low Maintenance Requirements, and High Efficiency Drive Europe Turboexpander Market
Turboexpanders are critical in applications such as industrial gas processing, power recovery, and power generation. They are commonly used in the natural gas industry for liquification and dewpoint management. They are also used in the petrochemical industry primarily for ethylene plant refrigeration and air separation. A sustained performance of this equipment is crucial for the profitability of a business. A turboexpander can aid in attaining the same pressure drop more effortlessly than a valve. Easy regulation and moderate maintenance requirements are a few of the major features of turboexpanders. Nonetheless, turboexpanders need to be monitored frequently after commissioning and in the initial stage of installation.A turboexpander system is generally divided into three major parts: an expander, a compressor, and a bearing. Expander casing is generally made of stainless steel, and compressor casing and bearings are fabricated of carbon steel. Regular monitoring and periodic servicing are enough to maintain a turboexpander for many years. Repair time sometimes varies depending on the severity of the damage.
The design of turboexpanders may vary depending on the plant type. However, original equipment manufacturers (OEMs) have standardized a few of the common components, and some critical parts are exclusive to specific machines. Thus, low maintenance, convenient design, and high efficiency in applications are the major factors driving the turboexpanders market.
Europe Turboexpander Market Overview
Russia is the world's third-largest oil producer, following the US and Saudi Arabia. In January 2022, its total oil production reached 11.3 million barrels per day (mb/d), with crude oil accounting for 10 mb/d, condensates at 960 kb/d, and natural gas liquids (NGLs) at 340 kb/d. Notably, Russia stands as the leading exporter of oil to international markets, ranking second only to Saudi Arabia in terms of crude oil exports. In December 2021, oil exports in Russia reached 7.8 mb/d, with crude and condensate contributing 5 mb/d, representing 64% of the total exports. The remaining exports included oil products, totaling 2.85 mb/d.Among these products, gasoil accounted for 1.1 mb/d, fuel oil for 650 kb/d, naphtha for 500 kb/d, and vacuum gas oil (VGO) for 280 kb/d. Gasoline, liquefied petroleum gas (LPG), jet fuel, and petroleum coke comprised the remaining 350 kb/d. The prominence of Russia in global oil production and exports, coupled with its diverse range of oil products, indicates a robust and dynamic energy sector, which, in turn, benefits the turboexpander market in the country.
Europe Turboexpander Market Segmentation
- The Europe turboexpander market is segmented based on loading device, power capacity, end user, and country. Based on loading device, the Europe 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 Europe 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 Europe 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 Europe turboexpander market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Russia dominated the Europe turboexpander market share in 2022.
- Elliott Co, Air Products & Chemicals Inc, Atlas Copco AB, Cryostar SAS, Turboden SpA, L'Air Liquide SA, and Siemens Energy AG are some of the leading players operating in the Europe turboexpander market.
Market Highlights
- Based on loading device, the Europe turboexpander market is categorized into compressor, generator, and hydraulic/oil brake. The compressor segment held 46.9% market share in 2022, amassing US$ 106.78 million. It is projected to garner US$ 150.69 million by 2030 to register 4.4% CAGR during 2022-2030.
- In terms of power capacity, the Europe 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 47.9% share of Europe turboexpander market in 2022, amassing US$ 109.01 million. It is projected to garner US$ 159.46 million by 2030 to expand at 4.9% 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 50.4% share of Europe turboexpander market in 2022, amassing US$ 114.82 million. It is projected to garner US$ 158.85 million by 2030 to expand at 4.1% CAGR during 2022-2030.
- This analysis states that Russia captured 25.2% share of Europe turboexpander market in 2022. It was assessed at US$ 57.47 million in 2022 and is likely to hit US$ 87.15 million by 2030, exhibiting a CAGR of 5.3% during 2022-2030.
- In January 2021, the company aims to enhance turboexpander maintenance and services for its facilities and solidify its cryogenic process expertise through this acquisition.
- In August 2020, Atlas Copco Gas and Process partnered with Vericor Power Systems to manufacture integrally geared centrifugal compressors and Companders powered by Vericor gas turbines. These machines offer customers up to 10% lower operating costs and 100% oil-free and pulsation-free gas into the pipeline. The partnership allows Atlas Copco Gas and Process to offer reliability, availability, and low maintenance intervals for their compressors. The GT series compressor is designed for demanding process requirements in remote areas, offering lower CAPEX and OPEX costs throughout the machine's lifecycle. The Atlas Copco Gas and Process Compander can also be driven by a Vericor turbine, providing faster maintenance time and superior cold start capability.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe 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 Europe 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 Europe market trends and outlook coupled with the factors driving the Europe 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. Europe Turboexpander Market Landscape
5. Europe Turboexpander Market - Key Market Dynamics
6. Turboexpander Market - Europe Market Analysis
7. Europe Turboexpander Market Analysis - by Loading Device
8. Europe Turboexpander Market Analysis - by Power Capacity
9. Europe Turboexpander Market Analysis - by End user
10. Europe 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 Europe Turboexpander market include:- Elliott Co
- Air Products & Chemicals Inc
- Atlas Copco AB
- Cryostar SAS
- Turboden SpA
- L'Air Liquide SA
- Siemens Energy AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 96 |
| Published | August 2024 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 227.77 Million |
| Forecasted Market Value ( USD | $ 325.78 Million |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 8 |
![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)
