At 3.7% CAGR, Middle East & Africa Turboexpander Market is Projected to be Worth US$ 80.57 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa turboexpander market was valued at US$ 60.31 million in 2022 and is expected to reach US$ 80.57 million by 2030, registering a CAGR of 3.7% from 2022 to 2030. Rise in demand for natural gas and application in energy recovery and power generation operations are among the critical factors attributed to the Middle East & Africa turboexpander market expansion.

The demand for natural gas is increasing in applications such as heating, power generation, cooking, and transportation. Versatility associated with the application of natural gas results in the growing share of natural gas in the global energy mix. Moreover, the lowest potential for pollution among all fossil fuels renders natural gas as one of the chief energy sources. Natural gas is also preferred as an alternative in many household applications, e.g., room heating or water heating. Gas-powered models of air conditioning systems use natural gas to operate.

Natural gas finds notable applications in the commercial sector, wherein is employed in paper, brick, glass, steel, and iron manufacturing industries as a cheap alternative to other gases. The increasing preference for high-capacity and cheap energy resources bolsters the popularity of natural gas. The augmented demand for natural gas highlights the need for adequate accumulation and production of natural gas, and proper infrastructure for the same. It is anticipated that natural gas will continue to be the most widely used energy source in the Middle East region, accounting for 53% of the regional energy mix in 2022. The demand is predicted to expand by 1.5% year from 560 billion barrels in 2022 to 855 billion barrels by 2050. The prime application of turboexpanders in the oil & gas sector is to enhance the recovery of ethane from natural gas. The procedure requires extremely low temperatures and, therefore, liquefies a significant portion of the ethane and heavier compounds in natural gas. Thus, the rise in demand for natural gas favors the turboexpanders market growth.

On the contrary, availability of alternatives hampers the growth of Middle East & Africa turboexpander market.

Based on loading device, the Middle East & Africa turboexpander market is categorized into compressor, generator, and hydraulic/oil brake. The compressor segment held 47.2% market share in 2022, amassing US$ 28.46 million. It is projected to garner US$ 37.62 million by 2030 to register 3.6% CAGR during 2022-2030.

In terms of power capacity, the Middle East & Africa 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 48.7% share of Middle East & Africa turboexpander market in 2022, amassing US$ 29.35 million. It is projected to garner US$ 40.19 million by 2030 to expand at 4.0% 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 Middle East & Africa turboexpander market is segmented into oil & gas, power generation, and industrial. The oil & gas segment held 56.3% share of Middle East & Africa turboexpander market in 2022, amassing US$ 33.97 million. It is projected to garner US$ 43.89 million by 2030 to expand at 3.3% CAGR during 2022-2030.

Based on country, the Middle East & Africa turboexpander market has been categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 42.5% share of Middle East & Africa turboexpander market in 2022. It was assessed at US$ 25.63 million in 2022 and is likely to hit US$ 33.44 million by 2030, exhibiting a CAGR of 3.4% during 2022-2030.

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

• In August 2020, Atlas Copco Gas and Process partnered with Vericor Power Systems to manufacture integrally geared centrifugal compressors and Companders powered by Vericor gas turbines. These machines offer customers up to 10% lower operating costs and 100% oil-free and pulsation-free gas into the pipeline. The partnership allows Atlas Copco Gas and Process to offer reliability, availability, and low maintenance intervals for their compressors. The GT series compressor is designed for demanding process requirements in remote areas, offering lower CAPEX and OPEX costs throughout the machine's lifecycle. The Atlas Copco Gas and Process Compander can also be driven by a Vericor turbine, providing faster maintenance time and superior cold start capability.
  
  
• In April 2023, Rotoflow signed a Memorandum of Understanding with SKF S2M to expand its services to turbomachinery customers through its Dharan Solutions Center in Saudi Arabia. The DSC, which opened in February 2021, provides diagnostic, testing, balancing, and machining equipment to diagnose performance deviations and optimize rotating equipment process impact and reliability. The DSC provides technology solutions for various brands of expanders, including Rotoflow's, and caters to the gasification, air separation, helium, hydrocarbon, petrochemical, and energy market segments.
  
  

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