L.A. Turbine, a subsidiary of Chart Industries, Inc. has announced its latest ARES active magnetic bearing (AMB) turboexpander-compressor. The ARES AMB turboexpander-compressor is capable of a flow rate of 200 million ft3/d and can be used for natural gas liquid (NGL) processing.
Air Liquide Engineering & Construction has announced its acquisition of the cryogenic turboexpander business line of Nikkiso Cryogenic Industries. The acquisition is estimated to strengthen the company’s expertise in cryogenic processes as well as enhance the maintenance and services of turboexpanders.
Author Credits: Abhishek Verma, Hetal Singh
Report ID: 5080
Published Date: Jun 23, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The growth of the electricity demand along with the need for cleaner sources of energy are estimated to majorly boost the market growth.
The market size of turboexpander is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are L.A. Turbine (Chart Industries, Inc.), Air Liquide Engineering & Construction, Atlas Copco, Air Products and Chemicals, Inc., Baker Hughes Company, Linde plc, Elliott Company, Siemens Energy AG, MAN Energy Solutions SE, Honeywell International Inc., and other key players.
The oil & gas equipment segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The turboexpander market is estimated to reach USD 955 million in 2022 and USD 1450 million in 2035.
Easy availability of alternatives and high installation cost are the challenging factors affecting the growth of turboexpander market.
The generator equipment sub-segment in the loading device segment holds the highest share in the turboexpander market.