Turboexpander Market

The demand for turboexpander is growing rapidly in the global market owing to various factors, including increasing share of natural gas in power generation and the growing need for energy efficiency.

The global turboexpander market is projected to grow at 6.02% CAGR during the forecast period, 2019–2025. In 2018, the global turboexpander market was dominated by Asia-Pacific with a 35.43% share, followed by North America and the rest of the world with shares of 29.91% and 19.34%, respectively.

The global turboexpander market has been segmented based on loading device, application, end use, and region. Based on loading device, the global turboexpander market has been classified into compressor, generator, and oil break. The compressor segment is expected to grow at the fastest rate during the forecast period. In 2018, the compressor segment held a 49.66% share of the global turboexpander market.

Based on application, the global turboexpander market has been segmented into hydrocarbon, air separation, and others. The hydrocarbon segment is expected to grow at the fastest rate during the forecast period. In 2018, the hydrocarbon segment held a 51.23% share of the global turboexpander market.

Based on end use, the global turboexpander market has been divided into oil & gas, manufacturing, and power generation. The oil & gas segment is expected to grow at the fastest rate during the forecast period. In 2018, the oil & gas segment held a 47.34% share of the global turboexpander market.

Based on region, the global turboexpander market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. In 2018, Asia-Pacific held a 35.43% share of the global turboexpander market.