Report : South & Central America 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 4.8% CAGR, South & Central America Turboexpander Market is Projected to be Worth US$ 53.42 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the South & Central America turboexpander market was valued at US$ 36.60 million in 2022 and is expected to reach US$ 53.42 million by 2030, registering a CAGR of 4.8% from 2022 to 2030. Technological advancements and rise in demand for natural gas are among the critical factors attributed to the South & Central America turboexpander market expansion.
Turbine efficiency is one of the major parameters that determine the efficiency and competence of a turboexpander system. As a turboexpander consumes high power, a slight improvement in turbine effectiveness leads to a major improvement in system efficiency. The aerodynamic performance of turbomachines varies on the mean-line design methodology of the rotor and stator. The flexibility and competence of turboexpanders led to a diversity of configurations, which make them flexible in diverse applications. Increasing focus on turbans with high speed and precision is one of the major trends in the turboexpanders market. In addition, with increasingly varying applications, the demand for advanced turboexpanders consisting of advanced active magnetic bearings, a high-frequency variable-speed drive, and a high-speed permanent magnet generator is also surging. Moreover, the elevating demand for high end machineries in large-scale refineries and gas processing stations are anticipated to boost the advanced turboexpanders market growth during the forecast period.
On the contrary, availability of alternatives hampers the growth of South & Central America turboexpander market.
Based on loading device, the South & Central America turboexpander market is categorized into compressor, generator, and hydraulic/oil brake. The compressor segment held 47.4% market share in 2022, amassing US$ 17.36 million. It is projected to garner US$ 25.06 million by 2030 to register 4.7% CAGR during 2022-2030.
In terms of power capacity, the South & Central America 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 48.3% share of South & Central America turboexpander market in 2022, amassing US$ 17.69 million. It is projected to garner US$ 26.43 million by 2030 to expand at 5.2% 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 South & Central America turboexpander market is segmented into oil & gas, power generation, and industrial. The oil & gas segment held 53.0% share of South & Central America turboexpander market in 2022, amassing US$ 19.38 million. It is projected to garner US$ 27.74 million by 2030 to expand at 4.6% CAGR during 2022-2030.
Based on country, the South & Central America turboexpander market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 65.0% share of South & Central America turboexpander market in 2022. It was assessed at US$ 23.78 million in 2022 and is likely to hit US$ 36.27 million by 2030, exhibiting a CAGR of 5.4% during 2022-2030.
Key players operating in the South & Central America 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, Air Liquide Engineering & Construction has announced its acquisition of the cryogenic turboexpander business line of Nikkiso Cryogenic Industries. The company aims to enhance turboexpander maintenance and services for its facilities and solidify its cryogenic process expertise through this acquisition.
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