Report : Europe Turboexpander Market Forecast to 2030 - Regional Analysis - by Loading Device (Compressor, Generator, and Hydraulic/Oil Brake), Power Capacity [Less than 1 MW (Up to 500 KW and 500 KW to 1 MW), 1 MW to 20 MW, and More than 20 MW], and End User (Oil and Gas, Power Generation, and Industrial)

At 4.6% CAGR, Europe Turboexpander Market is Projected to be Worth US$ 325.78 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe turboexpander market was valued at US$ 227.77 million in 2022 and is expected to reach US$ 325.78 million by 2030, registering a CAGR of 4.6% from 2022 to 2030. Use of turboexpander as distributed generator and easy regulation, low maintenance requirements, and high efficiency are among the critical factors attributed to the Europe turboexpander market expansion.

Turboexpander is an axial flow or centrifugal turbine used to expand high-pressure gas to generate work that is primarily employed to drive a compressor. This turbine system can be deployed in applications such as ethylene plants, gas transportation, air separation facilities, and refineries to convert the energy of a vapor stream or gas into mechanical work as the vapor or gas expands through the turbine. A turboexpander transforms the wasted energy in the gas into electricity. With the growing demand for cryogenic fluids and advancements in cryogenic industries, the demand for competent turboexpanders is on the rise, especially in space appliances, superconductivity, turbochargers, biomedical and petrochemical industries, and chemical instruments, among others. A turboexpander also works as a distributed generator that can be leveraged to capture the surplus energy. The turboexpander generator decreases gas pressure and transforms the kinetic energy into electrical energy, which can be sold to the grid. The growing application of turboexpanders, owing to their efficiency and competence in different applications, is anticipated to present opportunities in the turboexpanders market during the forecast period.

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

Based on loading device, the Europe turboexpander market is categorized into compressor, generator, and hydraulic/oil brake. The compressor segment held 46.9% market share in 2022, amassing US$ 106.78 million. It is projected to garner US$ 150.69 million by 2030 to register 4.4% CAGR during 2022-2030.

In terms of power capacity, the Europe 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 47.9% share of Europe turboexpander market in 2022, amassing US$ 109.01 million. It is projected to garner US$ 159.46 million by 2030 to expand at 4.9% 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 Europe turboexpander market is segmented into oil & gas, power generation, and industrial. The oil & gas segment held 50.4% share of Europe turboexpander market in 2022, amassing US$ 114.82 million. It is projected to garner US$ 158.85 million by 2030 to expand at 4.1% CAGR during 2022-2030.

Based on country, the Europe turboexpander market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Russia captured 25.2% share of Europe turboexpander market in 2022. It was assessed at US$ 57.47 million in 2022 and is likely to hit US$ 87.15 million by 2030, exhibiting a CAGR of 5.3% during 2022-2030.

Key players operating in the Europe 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 January 2021, the company aims to enhance turboexpander maintenance and services for its facilities and solidify its cryogenic process expertise through this acquisition.

  • 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.

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