Turboexpander Market to exceed $390.8 Million by 2023

According to the new market research report Turboexpander Market by Loading Device (Compressor, Generator, and Oil Break), Application (Air Separation, and Hydrocarbon), End-User (Manufacturing, Oil & Gas, and Power Generation), and Region – Global Forecast to 2023″, published by MarketsandMarkets™, The global turboexpander market is expected to reach a market size of USD 390.8 million by 2023, growing at a CAGR of 6.11%. In 2018, the market in North America is estimated to be the largest (by value) for turboexpanders, followed by the market in Asia Pacific. The trend is expected to change, with Asia Pacific leading the turboexpander market in 2023. Factors such as increasing share of natural gas in primary energy consumption and rising focus on energy efficiency are driving the turboexpander market.

Don’t miss out on business opportunities in Turboexpander Market. Download PDF Brochure and gain crucial industry insights that will help your business grow:

https://www.marketsandmarkets.com/pdfdownload.asp?id=217580907

Asia Pacific will remain the fastest-growing turboexpander market during the forecast period, being primarily driven by the growth in production capacity of natural gas and oil refineries in countries such as China and India. As per BP Statistical Review of World Energy 2017, natural gas production in the region increased from 490.6 billion cubic metres in 2010 to 579.9 billion cubic metres in 2016, indicating a positive growth curve of the turboexpander market. Meanwhile, steel industries also play a vital role in the development of the turboexpander market in the region and will positively impact the turboexpander market during the forecast period.

Browse and in-depth TOC on “Turboexpander Market

78 – Tables

32 – Figures

121 – Pages  

View more detailed TOC @

https://www.marketsandmarkets.com/Market-Reports/turboexpander-market-217580907.html

The turboexpander market by loading device type is segmented into compressor, generator, and oil break. The compressor segment is expected to grow at the highest CAGR (by value) during the forecast period. This segment is mainly driven by the increase in production of natural gas in emerging countries such as India and China. However, natural gas production and consumption levels are set to increase in China, owing to the demand of turboexpanders.

The turboexpander market by end-user is segmented into oil & gas, manufacturing, and power generation. Power generation will remain the fastest growing turboexpander market during the forecast period owing to increasing share of geothermal power in total power production; this is expected to generate demand for turboexpanders during the forecast period. As per National Renewable Energy Laboratory (NREL), the global geothermal electricity market is expected to reach a total installed capacity of 18.4 GW by 2021. This would positively impact the growth of the turboexpander market during the forecast period.

Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsample.asp?id=217580907

The turboexpander market is dominated by a few major players that have wide regional presence. The leading players in the turboexpander market include Atlas Copco (Sweden), BHGE (US), Cryostar (France), Air Products and Chemicals (US), and L.A. Turbine (US).

Browse Adjacent Markets @ Energy and Power Market Research Reports & Consulting

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.
630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441

Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/turboexpander-market.asp

Visit Our Website: https://www.marketsandmarkets.com

You May Also Like