The global turboexpander market was valued at USD 1002.6 million in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 9.8% to reach USD 1.8 billion in 2025–2035. The market is expected to grow significantly due to rising energy demands and an emphasis on energy efficiency across industries worldwide.

An apparatus that transforms a fluid's temperature and pressure energy into mechanical work is called a turboexpander. It works by expanding a high-pressure gas or vapor through a turbine to produce rotational energy that can power generators, compressors, and other devices.

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GROWTH DRIVERS

In sectors like oil and gas processing, petrochemicals, and air separation, where there is an increasing focus on enhancing energy efficiency and operational costs, turboexpanders provide a highly effective way to recover energy. The growing demand for LNG as a cleaner alternative to conventional fuels is propelling the expansion of natural gas liquefaction plants, where it plays a crucial role in the production of LNG.

Turboexpanders are becoming more and more in demand as natural gas processing capacity grows since they are essential to the production of pipeline-quality natural gas. The need for turboexpanders, which expand high pressure gases to produce extremely low temperatures, is being driven by the growth of companies that depend on cryogenic temperatures.

MARKET SEGMENTATION:

·         By Product Type – Axial Flow and Radial Flow

·         By Device Type – Compressor, Generator, and Hydraulic Brakes

·         By End User – Oil and Gas, Power Generation, Manufacturing, HVAC and Others

·         By Region - North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

Global Key Players:

·         Atlas Copco

·         Baker Hughes

·         Cryostar

·         LA Turbines

·         PBS

·         Nikkiso

·         Turbogaz

·         Suzler

·         ACD

·         Elliot

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