South & Central America Turboexpander Market Forecast to 2030 - Regional Analysis by Loading Device, Power Capacity, and End User

The South & Central America turboexpander market was valued at US$ 36.60 million in 2022 and is expected to reach US$ 53.42 million by 2030; it is estimated to record a CAGR of 4.8% from 2022 to 2030.

Use of Turboexpander as Distributed Generator Fuels South & Central America 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.

South & Central America Turboexpander Market Overview

Brazil's dynamic energy landscape, marked by its status as SAM's leading oil producer, presents a compelling scenario for the accelerated growth of the turboexpander market. With ownership of the world's largest recoverable ultra-deep oil reserves, Brazil's oil production in 2022 reached an average of 3.02 million barrels per day, a 2.47% increase from the previous annual record in 2020. The Brazilian National Agency for Petroleum, Natural Gas, and Biofuels (ANP) reported a total production of 1.1 billion barrels of oil and 50.3 billion cubic meters of natural gas, reflecting the nation's prominence in the global energy landscape.

Brazil's ambitious 2022-2032 Energy Expansion Plan outlines a strategic vision for the future, forecasting a substantial surge in oil production to reach 4.9 million barrels per day by 2032. Pre-salt fields are expected to contribute nearly 80% to this remarkable production growth. In contrast, shallow water and onshore fields are expected to account for a modest 7% of total oil output. Ongoing initiatives such as the Revitalization Program for the Exploration and Production of Onshore Oil and Natural Gas Areas (REATE 2020) and the Revitalization and Incentive Program for the Production of Maritime Fields (Promar) project improvements in the production from these fields, adding further complexity to the evolving energy landscape.

The forecasted trajectory positions Brazil to ascend as the world's fifth-largest crude oil exporter by 2030, reinforcing the nation's pivotal role in the global energy market. This monumental growth is intricately tied to the development of pre-salt fields and the rigorous efforts to revitalize onshore and shallow water fields. As Brazil augments its oil and gas production capacities, the demand for cutting-edge technologies such as turboexpanders becomes imperative.

South & Central America Turboexpander Market Segmentation

• The South & Central America turboexpander market is segmented based on loading device, power capacity, end user, and country. Based on loading device, the South & Central America 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 South & Central America 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 South & Central America 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 South & Central America turboexpander market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America 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 South & Central America turboexpander market.

Market Highlights

• Based on loading device, the South & Central America turboexpander market is categorized into compressor, generator, and hydraulic/oil brake. The compressor segment held 47.4% market share in 2022, amassing US$ 17.36 million. It is projected to garner US$ 25.06 million by 2030 to register 4.7% CAGR during 2022-2030.
• In terms of power capacity, the South & Central America 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 48.3% share of South & Central America turboexpander market in 2022, amassing US$ 17.69 million. It is projected to garner US$ 26.43 million by 2030 to expand at 5.2% 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 53.0% share of South & Central America turboexpander market in 2022, amassing US$ 19.38 million. It is projected to garner US$ 27.74 million by 2030 to expand at 4.6% CAGR during 2022-2030.
• This analysis states that Brazil captured 65.0% share of South & Central America turboexpander market in 2022. It was assessed at US$ 23.78 million in 2022 and is likely to hit US$ 36.27 million by 2030, exhibiting a CAGR of 5.4% during 2022-2030.
• In January 2021, Air Liquide Engineering & Construction has announced its acquisition of the cryogenic turboexpander business line of Nikkiso Cryogenic Industries. The company aims to enhance turboexpander maintenance and services for its facilities and solidify its cryogenic process expertise through this acquisition.

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