Turbo Expanders Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
- Transparency Market Research
Turbo expanders are devices which convert kinetic energy into mechanical energy by passing high pressure expanded gas through the turbines. The high pressure gas enable the turbines to rotate and get transmitted toward the shaft, and store the power which is utilized to drive compressors and electric generators and are dispersed through oil brake or air brake. Turbo expanders are also known as expansion turbines. Turbo expanders have a power range from 750 W to 7.5 MW which is approximately 1hp to 10000 hp. They are mainly used as a source of refrigeration in industrial processes such as extraction of ethane and natural gas liquids from natural gas, and liquefaction of other gases. Additionally turbo expanders work in the process of refrigeration, management of industrial waste through pipes, power or electricity generation and also air separation. These expanders work on the Joule-Thomson technique in which the gas or liquid changes its temperature due to the forced movement. This results in three types of functions, namely expansion compressor, expansion generator, and expansion brake. Turbo expanders are manufactured considering various standards and guidelines, in order to sustain high pressures and various industrial materials.
The global turbo expander market is projected to expand at a rapid pace during the forecast period. The increasing usage of natural gas in the generation of power supply is considered to be a major driver for the growth of this market. Furthermore, most firms have replaced the usage of coal with natural gas, increasing the usage of pipelines, thus giving rise to the demand for turbo expanders. Turbo expanders are being extensively used in cryogenic plants which are one of the major sources for obtaining butane, ethane, and propane. Additionally, developing economies across the globe and increased industrialization have resulted in the rise in usage of turbo expanders. However, fluctuations in the global economies hinder the growth of the market. Moreover, political and social influences also tend to bring limitations to the oil & gas and other industries, indirectly affecting the turbo expanders market. However, to overcome this issue, many regions have incorporated various government regulations. For instance, India’s Oil Ministry has planned an initiative to set up a bio-CNG plant and related infrastructures in order to encourage the use of clean fuel.
The global turbo expander market is classified by type, application, material, industry, and region. The turbo expander market is divided into three types: radial turbo expanders, axial turbo expanders, and radial-axial turbo expanders. Based on industry, the market is segmented into oil & gas, chemical & petrochemical, refrigeration systems, and power generation. The turbo expander market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America in terms of region. North America is expected to lead the turbo expanders market owing to the booming shale oil & gas industry. Moreover, the oil & gas industry followed by the petrochemical industry is anticipated to dominate the turbo expanders market. Refrigeration turbo expanders are being used extensively in various industrial process such as extraction of ethane and liquid natural gas and other low temperature procedures.
Some of the major key players of the turbo expander market include Atlas Copco, Cryostar, GE Oil & Gas, L.A. Turbine, Hangzhou Hangyang CO., LTD, Turbogaz, Cryogenic Industries, Inc., Elliott Group, Texas Turbine, Inc., Fluidmachines Inc., Sichuan Air Separation Group, Honeywell International Inc, Havacaran Industrial Technologies Co. and others. Manufacturers are strongly focusing on establishing their plants and penetrating Asian markets owing to high population, rising industrialization, and increasing demand for oil and gas. Manufacturers are also investing on research and development to curtail costs and also due to fluctuations of commodity prices.
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