The Worldwide Turboexpander Industry is Expected to Reach $1.3 Billion by 2028 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Turboexpander Market Size, Share & Industry Trends Analysis Report By Product, By Loading Device, By Application, By End-use, By Power Capacity, By Regional Outlook and Forecast, 2022 – 2028” report has been added to ResearchAndMarkets.com’s offering.
The Global Turboexpander Market size is expected to reach $1.3 billion by 2028, rising at a market growth of 4.5% CAGR during the forecast period.
A turboexpander is an axial-flow expander turbine that is used in process facilities to recover thermal energy from high-pressure gas streams and transform it into mechanical energy. The compressor or generator is powered by this mechanical energy. Turboexpander have recently gained popularity in the oil and gas industry for extracting hydrocarbon liquid from natural gas.
Turbo expanders are employed extensively in petrochemical applications such as nitrogen, hydrogen, and ethylene to liquefying natural gas. Oil and gas continue to dominate the energy landscape. Several countries are moving away from dirty energy sources. Natural gas is amongst the most suitable fossil fuel alternatives. It generates less carbon dioxide and burns cleaner than coal. As a result, operators are continually investing in boosting natural gas production, which might fuel the turboexpander market’s expansion.
Moreover, the market is expected to rise due to continual technological developments in bearing technology and a greater demand for Active Magnetic Bearings (AMB) over oil-bearing in turboexpanders. An increase in industry awareness of the need to reduce Green House Gas (GHG) emissions is expected to further drive the demand for turboexpander in geothermal and heat recovery applications. The need for LNG for domestic uses, along with the resulting requirement to store and transport LNG, is predicted to increase the demand for turboexpander. Natural gas is regarded as a more environmentally friendly and dependable energy source.
Market Growth Factors
Liquid natural gas hydrocarbon extraction process utilize turboexpander
Natural gas is mostly composed of methane (CH4), with smaller amounts of heavier hydrocarbon gases including propane (C3H8), ethane (C2H6), and normal butane (nC4H10), isobutane (iC4H10), pentanes, and even higher molecular weight hydrocarbons. Acid gases such as hydrogen sulfide (H2S), carbon dioxide (CO2), and mercaptans such as methanethiol (CH3SH) and ethane thiol (ETH) are also present in crude gas (C2H5SH).
These heavier hydrocarbons are referred to as NGLs when they are turned into final products (natural gas liquids). Turboexpander and a low column extraction temperature are often used in the extraction of NGL also known as called demethanizer. In a heat exchanger, the incoming gas is compressed to around -51 C. The gas produced by the liquid combination is split into a liquid-gas stream and a stream. The flow of liquid travels through a valve and is subjected to an isenthalpic process that lowers the flow temperatures from about -51 C to about -81 C.
Advancement in the Turboexpander cold gas services
Low-temperature, refrigeration, and cryogenic services all require turbo-expanders. The primary purpose of such turbo-expanders is to minimize energy temperature in a high-pressure gas stream. Expansion cools the gas significantly while also supplying mechanical power to rotate tools to perform beneficial tasks. In some implementations, the turbo-expander is connected to a compressor, and the created work is used to compress the gas in the process. The turbo-expander and compressor are sometimes combined into a single machine with a single shaft. In much refrigeration, cryogenic and low-temperature gas applications, a turbo-expander can produce low-temperature gas significantly more effective than solutions such as a “Joule-Thomson” (JT) valve or others.
Market Restraining Factors
Presence of the Alternative Energy Recovery devices in the market
In between furnace/reactor and the ultimate end product, most process plants employ single- or multi-stage outflow systems. These systems lower the flow pressure while preserving the media’s integrity. Energy is released in numerous phases when the pressure is reduced, allowing the flow to stabilize before reaching the desired product conditions or extrusion process downstream. Depending on the media and process conditions, let-down systems can use both control and isolation valves.
Scope of the Study
Market Segments Covered in the Report:
- Radial Flow
- Axial Flow
By Loading Device
- Air Separation
- Oil & Gas Processing
- Oil & Gas
- Energy & Power
- Chemical & Petrochemicals
By Power Capacity
- 1MW – 4 MW
- 5MW – 9MW
- Less than 1 MW
- 10MW – 19MW
- 20MW – 24 MW
- 25 MW – 40 MW
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Honeywell International, Inc.
- Baker Hughes Company
- Siemens AG
- Atlas Copco AB
- Air Products and Chemicals, Inc.
- Chart Industries, Inc.
- MAN Energy Solutions SE
- Elliott Group
- R&D Dynamics Corporation
For more information about this report visit https://www.researchandmarkets.com/r/7huhyz
Laura Wood, Senior Press Manager
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