Turboexpander Market Size

Turboexpander Market size is anticipated to surpass USD 1.4 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of turboexpander was over USD 950 Million. The demand for natural gas to create a sustainable living is anticipated to increase the usage of turboexpanders owing to their effectiveness in producing energy. In 2021, the global consumption of natural gas increased by around 4% and reached almost 4 trillion cubic meters.

Turbo expanders are highly efficient in hydrocarbon processing and air separation plants. The latest development in the design of turboexpanders has also facilitated its application in the liquefaction of gases, heat recovery, and geothermal. They are considered to be an important part of any compressor system. Hence, it is projected that the global turboexpander market is bound to expand owing to the escalation in demand from various industrial applications.