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The turboexpander market is expected to grow from an estimated USD 290.6 Million in 2018 to USD 390.8 Million by 2023, at a CAGR of 6.11%, from 2018 to 2023. This growth is primarily due to the increasing natural gas production and rising focus of end-users such as manufacturing and oil & gas sectors on energy efficiency. By energy source, natural gas accounts for the largest increase in world primary energy consumption and is an ideal choice for power and industrial sector due to its efficiency. All these factors have resulted in increased demand of turboexpanders.
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Turboexpander Market worth 390.8 Million USD by 2023 The turboexpander market is expected to grow from an estimated USD 290.6 Million in 2018 to USD 390.8 Million by 2023, at a CAGR of 6.11%, from 2018 to 2023. This growth is primarily due to the increasing natural gas production and rising focus of end-users such as manufacturing and oil & gas sectors on energy efficiency. By energy source, natural gas accounts for the largest increase in world primary energy consumption and is an ideal choice for power and industrial sector due to its efficiency. All these factors have resulted in increased demand of turboexpanders. Browse 105 market data Tables and 59 Figures spread through 163 Pages and in-depth TOC on"Turboexpander Market by Loading Device (Compressor, Generator, and Oil Break), Application (Air Separation, and Hydrocarbon), End-User (Manufacturing, Oil & Gas, and Power Generation), and Region - Global Forecast to 2023" https://www.marketsandmarkets.com/Market https://www.marketsandmarkets.com/Market- -Reports/tur Reports/turboexpander boexpander- -market market- -217580907.html 217580907.html The compressor segment led the turboexpander market in 2017 and is expected to hold the largest market share during the forecast period. Compressors coupled turboexpanders are majorly used in the petrochemical industry for liquefaction of hydrocarbons. Moreover, natural gas production is rising, which is expected to create demand for compressor coupled turboexpanders in hydrocarbon applications. All these factors have resulted in the largest share of the compressor segment. The power generation segment is projected to grow at the highest CAGR between 2018 and 2023. Key end-users include geothermal power plants, base load plants in LNG facilities, and pressure letdown turboexpanders. The geothermal electricity market is expected to reach USD 18.4 GW by 2021. Increasing share of geothermal power in total power production is expected to boost the demand for turboexpanders during the forecast period. Asia Pacific: the leading mar Asia Pacific: the leading market (by value) for turboexpanders ket (by value) for turboexpanders In this report, the turboexpander market has been analyzed with respect to 4 regions, namely, Asia Pacific, North America, Europe, and Rest of the World (the Middle East, Africa, and South America). The market in Asia Pacific is expected to lead the global turboexpander market from 2018 to 2023. China and India are the largest markets for turboexpanders in this region. As per BP Statistical Review of World Energy 2017, natural gas production increased from 490.6 billion cubic meters in 2010 to 579.9 billion cubic meters in 2016. Also, companies such as Saudi Aramco are planning to invest around USD 44 billion in a giant refinery complex in India. Thus, factors such as increasing investments in natural gas and increasing steel production in China and India are driving the turboexpander market in APAC. Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownload.asp?id=217580907 To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the turboexpander market including Atlas Copco (Sweden), BHGE (US), Cryostar (France), Air Products and Chemicals (US), and L.A. Turbine (US). These leading players are adopting various strategies to increase their market shares in the turboexpander market. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently
servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com
