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Turbine Expanders Market Segmented By product type such as Radial Turbo Expanders, Axial Turbo Expanders, Radial- Turbo Expanders with application such as Hydrocarbon, Air Separation, loading device
Turbine expanders are the mechanical devices which are used to convert kinetic energy into mechanical energy by creating high pressure expanded gas when passed through the turbines. Converted mechanical energy with the help of high pressure gas, enables the turbine to rotate the shaft, and store the energy which is then required to drive electric generators and compressors through air brake or oil brake.
Turbine expanders are also known as turbo expanders or expansion turbines. In terms of power of turbine expanders, the range comes from 750 Watt to 7.5 Megawatt which is approximately equal to 1horsepower to 10000 horsepower. Turbine expanders are used as a source of refrigeration in industrial operations such as for extraction of natural gas liquid from natural gas, ethane, and also for liquefaction of other gases.
In addition, turbine expanders work in the process of refrigeration, industrial waste management, electricity generation and also sometimes in air separation. This results in three types of functions, namely expansion brake, expansion compressor and expansion generator. Turbine expanders are manufactured considering various standards and guidelines, in order to sustain high pressures and various industrial materials.
The turbine expander market is expected to gain traction in the market in the near future. There are several factors which can drive the demand of market such as, increasing application of natural gas in the generation of the power supply which is considered to be a major driver for the growth of turbine expanders market.
In addition, most of the key players have replaced the application of coal with natural gas, increasing the usage of pipelines, thus giving rise to the demand for turbine expanders. Application of turbine expander to produce propane, ethane, and butane in the cryogenic plant is the key driver for the turbine expanders market.
Furthermore, developing economies across the world with increased industrialization has resulted in the rise in usage of turbine expanders. With this positive factors there are also some negative factors, which can create challenges in the growth of turbine expanders such as, fluctuations in the global economies, political and social influences also tend to bring limitations to the oil & gas and other industries, indirectly affecting the turbine expanders market.
In order to overcome such issues, many regions incorporated several government regulations. For in order to encourage the use of clean fuel. Overall, Turbine expanders market is expected to create new opportunities for end users to reduce the time period of any operation.
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In terms of volume and value, Asia Pacific is estimated to dominate the turbo expanders market in the between the forecast period owing to expansion of natural gas industries in the region. As per the BP statistics, the natural gas production in Asia Pacific is increased by 1.2 times in last six years.
Key players in natural gas manufacturing are planning to invest massive refectory complex in Asia Pacific, there are also some factors which can drive the demand of turbine expander in Asia Pacific such as, increasing steel production especially in China and India. North America followed by Western Europe is estimated to hold more than one third of market share in terms of value and volume.
The research report presents a comprehensive assessment of the turbine expanders market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
Turbine expanders also contains projections using a suitable set of assumptions and methodologies. The turbine expanders report provides analysis and information according to market segments such as geographies, application, and industry.
The turbine expanders report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with turbine expanders market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.