Turbo Expanders Market: Introduction
Turbo expanders, also known as expansion turbines, are devices which convert kinetic energy into mechanical energy by passing high pressure expanded gas through the turbines. The high pressure gas enables the turbines to rotate and get transmitted toward the shaft, and store the power which is utilized to drive compressors and electric generators and are dispersed through oil brake or air brake. These expanders work on the Joule-Thomson technique in which the gas or liquid changes its temperature due to the forced movement. This results in three types of functions, namely expansion compressor, expansion generator, and expansion brake. Turbo expanders are manufactured considering various standards and guidelines, in order to sustain high pressures and various industrial materials. Thus, the turbo expanders market is expected to grow during the forecast period.
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Key Drivers and Opportunities of the Global Turbo Expanders Market
- Turbo expanders have a power range from 750 W to 7.5 MW which is approximately 1hp to 10000 hp. They are mainly used as a source of refrigeration in industrial processes such as extraction of ethane and natural gas liquids from natural gas, and liquefaction of other gases. Additionally, turbo expanders work in the process of refrigeration, management of industrial waste through pipes, power or electricity generation, and also air separation. This is expected to drive the demand for turbo expanders during the forecast period.
- The global turbo expanders market is projected to expand at a rapid pace during the forecast period. Increasing usage of natural gas in the generation of power supply is considered to be a major driver for the growth of this market. Furthermore, most firms have replaced the usage of coal with natural gas, increasing the usage of pipelines, thus giving rise to the demand for turbo expanders.
- Turbo expanders are being extensively used in cryogenic plants which are one of the major sources for obtaining butane, ethane, and propane. Additionally, developing economies across the globe and increased industrialization have resulted in the rise in usage of turbo expanders.
- However, fluctuations in raw material prices could hinder the growth of the market. Political and social influences also tend to bring limitations to the oil & gas and other industries, indirectly affecting the turbo expanders market.
Europe to Hold Major Share of the Global Turbo Expanders Market
- In terms of region, the turbo expanders market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Europe is expected to lead the turbo expanders market owing to the booming shale oil & gas industry. Moreover, the oil & gas industry followed by the petrochemical industry is anticipated to dominate the turbo expanders market. Refrigeration turbo expanders are being used extensively in various industrial processes such as extraction of ethane and liquid natural gas and other low temperature procedures.
Key Players Operating in the Global Turbo Expanders Market
- Atlas Copco
- Cryogenic Industries, Inc.
- Cryostar SAS
- Elliott Group
- Fluidmachines Inc.
- Hangzhou Hangyang Co., Ltd.
- Havacaran Industrial Technologies Co.
- Honeywell International Inc.
- Sichuan Air Separation Group
- Texas Turbine, Inc.
Global Turbo Expanders Market: Research Scope
Global Turbo Expanders Market, by Product Type
- Radial Turbo Expanders
- Axial Turbo Expanders
- Radial-Axial Turbo Expanders
Global Turbo Expanders Market, by End-use Industry
- Oil & Gas
- Chemical & Petrochemical
- Refrigeration Systems
- Others (Power Generation, etc.)
Global Turbo Expanders Market, by Price
- Low
- Medium
- High
Global Turbo Expanders Market, by Distribution Channel
- Direct
- Indirect
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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