Turboexpander Market Share

APAC Market Analysis

The Asia Pacific turboexpander market is projected to be the largest with a share of about 35% by the end of the forecast period. Asia Pacific region holds the highest market potential owing to the high focus on using cleaner energy sources, especially, in China, India, Japan, and Malaysia. In addition to that, the presence of favorable government initiatives to boost and promote the hydrogen economy is the largest favorable factor for the growth of the region in the upcoming years.

North American Market Forecast

The North American turboexpander market is set to hold 24% of the revenue share by the end of the projected timeframe. The rapid growth of investments by the United States and Canadian governments in shale gas exploration is anticipated to be the primary factor for the growth of the market in the region. Also, the high investments in natural gas production are anticipated to drive market expansion in the forecast period.

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.

Turboexpander Market Share