At 7.0% CAGR, Asia Pacific Turboexpander Market is Projected to be Worth US$ 634.91 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific turboexpander market was valued at US$ 370.28 million in 2022 and is expected to reach US$ 634.91 million by 2030, registering a CAGR of 7.0% from 2022 to 2030. Application in energy recovery and power generation operations and rise in demand for natural gas are among the critical factors attributed to the Asia Pacific turboexpander market expansion.

A turboexpander primarily reduces the pressure of a gas stream by facilitating expansion. As an outcome, the enthalpy and temperature of the gas are decreased. This decline in temperature is accompanied by the condensation of substantial hydrocarbons into liquids. Turboexpanders help attain isentropic power as high as 90%, which results in much lower discharge temperatures. The high reliability of turboexpanders is attributed to their minimalistic construction and hermetically sealed design.

Some plants have been operating with the same turboexpander for many decades, following a proper maintenance schedule. The main advantages of turboexpanders over regulators are that the former can moderate and reduce the gas pressure to a desired level and electricity can be generated from the energy attained from a reduced gas pressure. Generally, a substantial amount of electricity is lost in a distribution network along the distance between power stations and consumers. Localized low-capacity power production is one of the keyways to eliminate energy loss. Any high-pressure gas flowing in a transmission pipeline is a promising means for energy recovery. A turboexpander applied with electrical generators and turbines can convert kinetic energy to electricity. When high-pressure gas flows into a turboexpander, it routes through the turbine and twists it. The generator starts twisting and produces electricity. Thus, by replacing a regulator valve with a turboexpander, the possible energy saved in the gas stream will be employed and converted to electricity. Therefore, the increasing concern about energy loss and the need to save more energy fuels the application of turboexpanders in energy recovery and power generation operations, thereby bolstering the turboexpanders market.

On the contrary, availability of alternatives hampers the growth of Asia Pacific turboexpander market.

Based on loading device, the Asia Pacific turboexpander market is categorized into compressor, generator, and hydraulic/oil brake. The compressor segment held 47.6% market share in 2022, amassing US$ 176.35 million. It is projected to garner US$ 298.88 million by 2030 to register 6.8% CAGR during 2022-2030.

In terms of power capacity, the Asia Pacific turboexpander market is segmented into less than 1 MW, 1 MW to 20 MW, and more than 20 MW. The 1 MW to 20 MW segment held 47.7% share of Asia Pacific turboexpander market in 2022, amassing US$ 176.72 million. It is projected to garner US$ 308.93 million by 2030 to expand at 7.2% CAGR during 2022-2030. The 1 MW to 20 MW segment is further bifurcated into Up to 500 KW and 500 KW to 1 MW.

By end user, the Asia Pacific turboexpander market is segmented into oil & gas, power generation, and industrial. The oil & gas segment held 56.0% share of Asia Pacific turboexpander market in 2022, amassing US$ 207.21 million. It is projected to garner US$ 345.86 million by 2030 to expand at 6.6% CAGR during 2022-2030.

Based on country, the Asia Pacific turboexpander market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 38.4% share of Asia Pacific turboexpander market in 2022. It was assessed at US$ 142.22 million in 2022 and is likely to hit US$ 245.58 million by 2030, exhibiting a CAGR of 7.1% during 2022-2030.

Key players operating in the Asia Pacific turboexpander market are Elliott Co, Air Products & Chemicals Inc, Atlas Copco AB, Cryostar SAS, Turboden SpA, L'Air Liquide SA, ZJ-Tibo, and Siemens Energy AG, among others.

• In November 2022, Rotoflow, an Air Products business opened a new Solutions Center in Shanghai, China, to better serve the turbomachinery needs of customers throughout Asia. The facility will repair and service rotating machinery, provide assembly and part cleaning, optimize and troubleshoot equipment, and build new equipment for HPN Plants and support Air Products equipment for Hydrogen for Mobility. Rotoflow's turbomachinery capabilities include gasification, air separation, helium, LNG, hydrocarbon, petrochemical, and energy market segments. The center will also service turboexpanders, centrifugal compressors, reciprocating compressors, cryogenic pumps, small steam and gas turbines, gearboxes, fans, and blowers.
  
  

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