Turbo Expanders Market Demand, Trends, Industry Size, Growth Drivers, Key Companies and Forecast 2023-2028

IMARC Group has recently released a new research study titled "Turbo Expanders Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

How big is the turbo expanders market?

The global turbo expanders market size reached US$ 332.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 502.0 Million by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

What are turbo expanders?

Turbo expanders are mechanical devices that use a rotating turbine to convert high-pressure, high-temperature gas into mechanical energy. This mechanical energy is then used to drive a generator or other mechanical equipment. Turbo expanders are commonly used in industrial applications, such as natural gas processing, refrigeration, and power generation. They are designed to be highly efficient, durable, and reliable, thus making them an important component of many industrial processes.

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Turbo Expanders Market Trends, Growth Drivers and Demand: 

The increasing demand for natural gas in the residential and industrial sectors represents a significant factor driving the market growth across the globe. In line with this, the rising demand for energy-efficient solutions, especially in the oil and gas industry is contributing to the market growth. The turbo expanders also find applications in liquefaction of gases, heat recovery, and geothermal industry, which, in turn, is acting as another major growth-inducing factor.

The market is also being driven by the increasing awareness among industries to curb greenhouse gas (GHG) emissions, the rising demand for liquified natural gas (LNG) vehicles, and the escalating demand for cryogen products in process industries. Other factors, such as extensive research and development (R&D) activities and significant technological advancements, are creating a positive outlook for the market further across the globe.

Who are the key players operating in the industry?

Turbo Expanders Manufacturers: 

• Air Products & Chemicals.Inc
• Atlas Copco
• Baker Hughes Company (General Electric Company)
• Blair Engineering
• Elliott Group (Ebara Corporation)
• HangZhou Oxygen Plant Group
• LA Turbine (Chart Industries Inc.)
• PBS Group a. s.
• R&D Dynamics Corporation
• Sichuan Air Separation Plant (Group) Co. Ltd.
• Suzhou Sida Cryogenic Equipment Co. Ltd.
• Turbogaz

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Loading Devices:

• Compressor
• Generator
• Hydraulic Brake

Breakup by Application:

• Hydrocarbon Turboexpanders
• Air Separation Turboexpanders
• Others

Breakup by End Use Industry:

• Oil and Gas
• Power Generation
• Energy Recovery
• Others

Breakup by Region:

• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa

Speak to an Analyst: https://www.imarcgroup.com/request?type=report&id=4416&flag=C

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.