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Report Overview
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
Turboexpander Market Growth
The increasing applications of turboexpanders in industrial gas processes, such as the separation of gases at low temperatures is driving the turboexpander market growth. A turboexpander is also a crucial component in ethylene production and ammonia purification. In addition to this, turboexpanders are used as refrigerating agents in the extraction process of natural gas. In this regard, the transition towards using clean energy sources in the industrial processing sector is likely to propel the demand for natural gas in the forecast period, thereby, boosting the turboexpanders market.
Furthermore, the growing mergers and acquisitions by the key market players aimed towards manufacturing turboexpanders with increased efficiency, superior design are likely to lead to progressive product innovations in the coming years. Moreover, the market is anticipated to be aided by the increasing focus on maintenance services in turboexpanders facilities.
Turboexpander Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the global turboexpanders market attained a value of nearly USD 1.02 billion.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 1.58 billion by 2034.
The market is estimated to grow at a CAGR of 4.90% between 2025 and 2034.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major market drivers include the increasing applications of the product in industrial gas processes, rising demand for natural gas, and rising demand for ammonia.
The growing mergers and acquisitions bolstering the product innovations are likely to be the key trends in the market.
Radial turboexpanders, axial turboexpanders, and radial-axial turboexpanders are the different segments based on type.
Compressor, generator, and hydraulic brake is the segmentation of market based on loading device.
Oil and gas processing, air separation, and cryogenic application, among others are the different applications considered in the market report.
Oil and gas, energy and power, and manufacturing, among others are the major industry verticals included in the market report.
The major players in the industry are ZJ-Tibo, Atlas Copco AB, Rotoflow, Sapphire Technologies, R&D Dynamics Corporation, and HAVAYAR Group, among others.
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