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Turboexpander Market Size, Share & Trends Analysis Report by Product Type (Axial, Radial), by Loading Device (Compressors, Generator, Hydraulic), by Power Capacity, by End Use, by Application, by Region, and Segment Forecasts, 2022-2030

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    Report

  • 165 Pages
  • April 2022
  • Region: Global
  • Grand View Research
  • ID: 5595849
Description Jump to:
The global turboexpander market size is projected to reach USD 1,404.1 million by 2030, growing at a CAGR of 4.8%. The market growth can be attributed to the increasing demand for energy-efficient turboexpanders for geothermal, waste to recovery, natural gas production, and other gas processing applications. Favorable government initiatives to curb the Green House Gases (GHG) emissions have encouraged the economies worldwide to consume natural gas by-products such as Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG). This would eventually increase the demand for the turboexpanders in the oil & gas sector over the forecast period.



The surge in investments in hydrogen liquefaction is expected to create the demand for hydrogen turboexpanders during the forecast period. Unprecedented demand for clean and green energy resources associated with growing concerns to curb GHG emissions and favorable government initiatives under the influence of Net Zero Emission by 2050 undertaken by the United Nations (UN) is presumed to drive demand for clean hydrogen. Furthermore, the rising popularity of green hydrogen in automotive and aerospace and limiting the dependency on crude oil from Organization of the Petroleum Exporting Countries (OPEC) countries is also likely to bode well for the market growth over the next few years.

The Original Equipment Manufacturers (OEMs) in the market for turboexpanders are adopting a customer-centric approach to manufacturing customized turboexpanders for hydrogen liquefaction to serve their customers. For instance, in May 2021, PBS Group, one of the key vendors in the market, developed CTE 300, a new turboexpander explicitly designed for hydrogen applications. The newly developed product will have a maximum inlet pressure of over 5 MPa with a cooling power of up to 100 kW.

Turboexpander Market Report Highlights

  • Over the forecast period, the large-scale adoption of radial expanders for low output power applications such as hot gas expanders used in refineries, binary cycle geothermal plants, and other low power cryogenic plants contributed to the more than 50% revenue share.
  • The 1MW-4MW segment is projected to surpass USD 400 million by 2030. Increasing demand for Natural Gas Vehicles (NGVs) is expected to create the need for small power capacity LNG terminals, which is projected to favor the growth of the less than 1MW and 1 MW-4 MW power segments over the forecast period.
  • The compressor segment accounted for more than 40% of the global market share in 2021, growing at a moderate CAGR from 2022 to 2030. Compressor-loaded turboexpanders are the most common arrangement in industries and are extensively used in LNG feed-gas treatment (onshore and floating), high demanding cryogenic, and energy recovery applications.
  • Over the next few years, the cryogenic application is expected to dominate the market with a revenue share of more than 30%. A surge in demand for nitrogen gas in the healthcare sector for applications such as cryopreservation, cryotherapies, and cryosurgeries is expected to favor the market growth over the forecast period.
  • The oil & gas segment continues to grow with the highest 5.8% CAGR during the forecast period. It can be attributed to the increase in the number of LNG project terminals across the emerging economies.
  • The Asia Pacific accounted for more than 30% market share in 2021. The regional market is primarily driven by China, India, and Japan which are increasing their investment in hydrogen liquefactions.
  • Atlas Copco AB; Air Products Inc. (ROTOFLOW); Linde Plc (Cryostar); and Siemens Energy (Siemens AG) are among the top five companies, attaining more than 55% of the market share in 2021.

Table of Contents

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Snapshot
Chapter 3. Market Trends, Variables, and Scope
3.1. Market Segmentation
3.2. Market Size and Growth Prospects, 2018-2030
3.3. Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.2. Market restraint analysis
3.4.3. Market opportunity analysis
3.5. Key Opportunities Prioritized
3.6. Industry Analysis-Porter's Five Force Analysis
3.7. Industry Analysis-PEST Analysis
3.8. COVID-19 Impact Analysis
Chapter 4. Turboexpander Market: Product Type Outlook
4.1. Turboexpander Market Share by Product Type, 2021 & 2030 (USD Million)
4.2. Axial
4.2.1. Market estimates and forecast, 2018-2030 (USD Million)
4.2.2. Market estimates and forecast by region, 2018-2030 (USD Million)
4.3. Radial
4.3.1. Market estimates and forecast, 2018-2030 (USD Million)
4.3.2. Market estimates and forecast by region, 2018-2030 (USD Million)
Chapter 5. Turboexpander Market: Loading Device Outlook
5.1. Turboexpander Market Share by Loading Device, 2021 & 2030 (USD Million)
5.2. Compressor
5.2.1. Market estimates and forecast, 2018-2030 (USD Million)
5.2.2. Market estimates and forecast by region, 2018-2030 (USD Million)
5.3. Generator
5.3.1. Market estimates and forecast, 2018-2030 (USD Million)
5.3.2. Market estimates and forecast by region, 2018-2030 (USD Million)
5.4. Hydraulic/Oil-Brake
5.4.1. Market estimates and forecast, 2018-2030 (USD Million)
5.4.2. Market estimates and forecast by region, 2018-2030 (USD Million)
Chapter 6. Turboexpander Market: Power Capacity Outlook
6.1. Turboexpander Market Share by Power Capacity, 2021 & 2030 (USD Million)
6.2. Less than 1MW
6.2.1. Market estimates and forecast, 2018-2030 (USD Million)
6.2.2. Market estimates and forecast by region, 2018-2030 (USD Million)
6.3. 1 MW -4 MW
6.3.1. Market estimates and forecast, 2018-2030 (USD Million)
6.3.2. Market estimates and forecast by region, 2018-2030 (USD Million)
6.4. 5 MW-9MW
6.4.1. Market estimates and forecast, 2018-2030 (USD Million)
6.4.2. Market estimates and forecast by region, 2018-2030 (USD Million)
6.5. 10 MW-19MW
6.5.1. Market estimates and forecast, 2018-2030 (USD Million)
6.5.2. Market estimates and forecast by region, 2018-2030 (USD Million)
6.6. 20 MW-24 MW
6.6.1. Market estimates and forecast, 2018-2030 (USD Million)
6.6.2. Market estimates and forecast by region, 2018-2030 (USD Million)
6.7. 25 MW-40 MW
6.7.1. Market estimates and forecast, 2018-2030 (USD Million)
6.7.2. Market estimates and forecast by region, 2018-2030 (USD Million)
6.8. Above 40 MW
6.8.1. Market estimates and forecast, 2018-2030 (USD Million)
6.8.2. Market estimates and forecast by region, 2018-2030 (USD Million)
Chapter 7. Turboexpander Market: Application Outlook
7.1. Turboexpander Market Share by Application, 2021 & 2030 (USD Million)
7.2. Air Separation
7.2.1. Market estimates and forecast, 2018-2030 (USD Million)
7.2.2. Market estimates and forecast by region, 2018-2030 (USD Million)
7.3. Oil & Gas Processing
7.3.1. Market estimates and forecast, 2018-2030 (USD Million)
7.3.2. Market estimates and forecast by region, 2018-2030 (USD Million)
7.4. Cryogenic Application
7.4.1. Market estimates and forecast, 2018-2030 (USD Million)
7.4.2. Market estimates and forecast by region, 2018-2030 (USD Million)
7.5. Others
7.5.1. Market estimates and forecast, 2018-2030 (USD Million)
7.5.2. Market estimates and forecast by region, 2018-2030 (USD Million)
Chapter 8. Turboexpander Market: End-Use Outlook
8.1. Turboexpander Market Share by End Use, 2021 & 2030 (USD Million)
8.2. Oil & Gas
8.2.1. Market estimates and forecast, 2018-2030 (USD Million)
8.2.2. Market estimates and forecast by region, 2018-2030 (USD Million)
8.3. Energy & Power
8.3.1. Market estimates and forecast, 2018-2030 (USD Million)
8.3.2. Market estimates and forecast by region, 2018-2030 (USD Million)
8.4. Chemical & Petro Chemical
8.4.1. Market estimates and forecast, 2018-2030 (USD Million)
8.4.2. Market estimates and forecast by region, 2018-2030 (USD Million)
8.5. Others
8.5.1. Market estimates and forecast, 2018-2030 (USD Million)
8.5.2. Market estimates and forecast by region, 2018-2030 (USD Million)
Chapter 9. Turboexpander Market: Regional Outlook
9.1. Turboexpander Market Share by Region, 2021 & 2030 (USD Million)
9.2. North America
9.2.1. Market estimates and forecast, 2018-2030 (USD Million)
9.2.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.2.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.2.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.2.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.2.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.2.7. U.S.
9.2.7.1. Market estimates and forecast, 2018-2030 (USD Million)
9.2.7.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.2.7.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.2.7.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.2.7.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.2.7.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.2.8. Canada
9.2.8.1. Market estimates and forecast, 2018-2030 (USD Million)
9.2.8.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.2.8.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.2.8.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.2.8.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.2.8.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.3. Europe
9.3.1. Market estimates and forecast, 2018-2030 (USD Million)
9.3.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.3.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.3.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.3.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.3.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.3.7. U.K.
9.3.7.1. Market estimates and forecast, 2018-2030 (USD Million)
9.3.7.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.3.7.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.3.7.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.3.7.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.3.7.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.3.8. Germany
9.3.8.1. Market estimates and forecast, 2018-2030 (USD Million)
9.3.8.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.3.8.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.3.8.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.3.8.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.3.8.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.3.9. France
9.3.9.1. Market estimates and forecast, 2018-2030 (USD Million)
9.3.9.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.3.9.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.3.9.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.3.9.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.3.9.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.3.10. Rest of Europe
9.3.10.1. Market estimates and forecast, 2018-2030 (USD Million)
9.3.10.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.3.10.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.3.10.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.3.10.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.3.10.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.4. Asia Pacific
9.4.1. Market estimates and forecast, 2018-2030 (USD Million)
9.4.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.4.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.4.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.4.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.4.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.4.7. China
9.4.7.1. Market estimates and forecast, 2018-2030 (USD Million)
9.4.7.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.4.7.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.4.7.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.4.7.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.4.7.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.4.8. India
9.4.8.1. Market estimates and forecast, 2018-2030 (USD Million)
9.4.8.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.4.8.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.4.8.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.4.8.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.4.8.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.4.9. Japan
9.4.9.1. Market estimates and forecast, 2018-2030 (USD Million)
9.4.9.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.4.9.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.4.9.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.4.9.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.4.9.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.4.10. Rest of Asia Pacific
9.4.10.1. Market estimates and forecast, 2018-2030 (USD Million)
9.4.10.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.4.10.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.4.10.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.4.10.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.4.10.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.5. Latin America
9.5.1. Market estimates and forecast, 2018-2030 (USD Million)
9.5.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.5.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.5.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.5.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.5.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.5.7. Brazil
9.5.7.1. Market estimates and forecast, 2018-2030 (USD Million)
9.5.7.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.5.7.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.5.7.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.5.7.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.5.7.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.5.8. Mexico
9.5.8.1. Market estimates and forecast, 2018-2030 (USD Million)
9.5.8.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.5.8.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.5.8.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.5.8.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.5.8.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.5.9. Rest of Latin America
9.5.9.1. Market estimates and forecast, 2018-2030 (USD Million)
9.5.9.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.5.9.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.5.9.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.5.9.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.5.9.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
9.6. Middle East & Africa
9.6.1. Market estimates and forecast, 2018-2030 (USD Million)
9.6.2. Market estimates and forecast by Product Type, 2018-2030 (USD Million)
9.6.3. Market estimates and forecast by Loading Device, 2018-2030 (USD Million)
9.6.4. Market estimates and forecast by Power Capacity, 2018-2030 (USD Million)
9.6.5. Market estimates and forecast by Application, 2018-2030 (USD Million)
9.6.6. Market estimates and forecast by End Use, 2018-2030 (USD Million)
Chapter 10. Competitive Analysis
10.1. Key Company Market Share Analysis. 2021
Chapter 11. Competitive Landscape
11.1. Atlas Copco AB
11.1.1. Company overview
11.1.2. Financial performance
11.1.3. Product benchmarking
11.1.4. Recent developments
11.2. Air Products Inc. (ROTOFLOW)
11.2.1. Company overview
11.2.2. Financial performance
11.2.3. Product benchmarking
11.2.4. Recent developments
11.3. Air Liquide (formerly Nikkiso Cryogenic Industries)
11.3.1. Company overview
11.3.2. Financial performance
11.3.3. Product benchmarking
11.3.4. Recent developments
11.4. Baker Hughes Company
11.4.1. Company overview
11.4.2. Financial performance
11.4.3. Product benchmarking
11.4.4. Recent developments
11.5. Chart Industries (L.A. Turbine)
11.5.1. Company overview
11.5.2. Financial performance
11.5.3. Product benchmarking
11.5.4. Recent developments
11.6. Cryostar SAS (Linde Plc)
11.6.1. Company overview
11.6.2. Financial performance
11.6.3. Product benchmarking
11.6.4. Recent developments
11.7. R&D Dynamics Corporation
11.7.1. Company overview
11.7.2. Financial performance
11.7.3. Product benchmarking
11.7.4. Recent developments
11.8. Elliott Group (EBARA Corporation)
11.8.1. Company overview
11.8.2. Financial performance
11.8.3. Product benchmarking
11.8.4. Recent developments
11.9. Siemens Energy (Siemens AG)
11.9.1. Company overview
11.9.2. Financial performance
11.9.3. Product benchmarking
11.9.4. Recent developments
11.10. Man Energy
11.10.1. Company overview
11.10.2. Financial performance
11.10.3. Product benchmarking
11.10.4. Recent developments
11.11. PBS Group, a. s.
11.11.1. Company overview
11.11.2. Financial performance
11.11.3. Product benchmarking
11.11.4. Recent developments
11.12. Turbogaz.
11.12.1. Company overview
11.12.2. Financial performance
11.12.3. Product benchmarking
11.12.4. Recent developments
11.13. Others
11.13.1. Honeywell International Inc
11.13.2. Blair Engineering
11.13.3. Tibo
11.13.4. Sichuan Air Separation Plant Group
11.13.5. Suzhou XIDA Cryogenic Equipment Co., Ltd

Companies Mentioned

  • Atlas Copco Ab
  • Air Products Inc. (Rotoflow)
  • Air Liquide (Formerly Nikkiso Cryogenic Industries)
  • Baker Hughes Company
  • Chart Industries (L.A. Turbine)
  • Cryostar Sas (Linde plc)
  • R&D Dynamics Corporation
  • Elliott Group (Ebara Corporation)
  • Siemens Energy (Siemens Ag)
  • Man Energy
  • Pbs Group, A. S.
  • Turbogaz.

Methodology

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Table Information

Report AttributeDetails
No. of Pages165
PublishedApril 2022
Forecast Period2022 - 2030
Estimated Market Value ( USD ) in 2022 $ 965.1 Million
Forecasted Market Value ( USD ) by 2030 $ 1404.1 Million
Compound Annual Growth Rate4.8%
Regions CoveredGlobal
No. of Companies Mentioned12

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