PUBLISHER: The Business Research Company | PRODUCT CODE: 1751146
PUBLISHER: The Business Research Company | PRODUCT CODE: 1751146
A turbo expander is a mechanical device that converts the energy from high-pressure gas into mechanical work by expanding the gas through a turbine. It is commonly employed in cryogenic and natural gas processing to reduce gas pressure while simultaneously generating power or cooling.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The primary product types of turbo expanders include axial flow and radial flow models, both designed for use in various industrial processes. Axial flow models are high-efficiency machines that direct gas flow parallel to the rotor axis, making them ideal for continuous, high-power applications such as gas liquefaction and petrochemical refining. Loading devices for turbo expanders include compressors, generators, and hydraulic brakes. These devices are utilized in applications such as hydrocarbon processing, air separation, and other industrial operations. Key end-user industries for turbo expanders include oil and gas, power generation, energy recovery, and other related sectors.
The turbo expander market research report is one of a series of new reports from The Business Research Company that provides turbo expander market statistics, including the turbo expander industry global market size, regional shares, competitors with the turbo expander market share, detailed turbo expander market segments, market trends, and opportunities, and any further data you may need to thrive in the turbo expander industry. This turbo expander market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The turbo expander market size has grown strongly in recent years. It will grow from$0.86 billion in 2024 to $0.91 billion in 2025 at a compound annual growth rate (CAGR) of 5.8%. The growth during the historic period can be attributed to the increasing production of natural gas, rising demand for energy-efficient systems, growing use of LNG in industrial applications, expansion of oil and gas infrastructure, and the increasing adoption of automation and digital monitoring.
The turbo expander market size is expected to see strong growth in the next few years. It will grow to$1.12 billion in 2029 at a compound annual growth rate (CAGR) of 5.4%. This growth in the forecast period can be attributed to rising investments in LNG projects, a greater focus on clean energy solutions, increasing demand for power generation efficiency, the expansion of petrochemical industries, and growing adoption of energy recovery systems. Key trends anticipated in the forecast period include integration with renewable energy systems, advancements in cryogenic technologies, technology-driven efficiency improvements, the incorporation of AI and IoT for performance monitoring, and the development of compact and modular turboexpander systems.
The growing demand for renewable energy sources is expected to drive the expansion of the turbo expander market in the coming years. Renewable energy sources are natural forms of energy that are continuously replenished and do not deplete over time. The demand for renewable energy is mainly fueled by increasing concerns over climate change, the need to reduce greenhouse gas emissions, and the transition to cleaner, more sustainable energy sources. Turbo expanders play a crucial role in renewable energy systems by efficiently converting high-pressure gas energy into mechanical power, which is then used for power generation or cooling, thereby improving overall energy recovery and system sustainability. For example, in December 2024, Eurostat, a Luxembourg-based government agency, reported that in 2023, the share of energy from renewable sources used in transport in the European Union rose to 10.8%, up from 9.6% in 2022. As a result, the increasing use of renewable energy sources is contributing to the growth of the turbo expander market.
Leading companies in the turbo expander market are focused on developing innovative solutions, such as turboexpander generators, to enhance energy efficiency, recover waste energy, and support sustainable power generation in industrial gas processing and distribution systems. Turboexpander generators combine a turboexpander and an electric generator in a single integrated system. These devices are commonly used in industrial applications to recover energy from high-pressure gas streams while simultaneously cooling and expanding the gas. For example, in August 2023, Sapphire Technologies, Inc., a U.S.-based manufacturing company, partnered with TB Global Technologies Ltd., a Japan-based manufacturer, to install two FreeSpin In-line Turboexpanders (FIT) at Toho Gas's Yokkaichi LNG terminal in Japan. These turboexpanders recover waste energy from high-pressure natural gas and generate over 400 kW of clean electricity annually. This project underscores the increasing use of turboexpander generators as a sustainable solution to improve energy efficiency and reduce carbon emissions in gas processing and distribution systems.
In March 2022, Howden Maintenance Partners, a Belgium-based machinery manufacturing company, acquired Turbine Europe SRL for an undisclosed amount. This acquisition aimed to combine Turbine Europe's expertise in radial turbo expander services with Maintenance Partners' extensive turbomachinery engineering capabilities and Howden's advanced technology. The goal was to create a comprehensive "one-stop-shop" solution that enhances service reliability and operational efficiency for customers. Turbine Europe SRL, based in Italy, specializes in radial turbo expanders.
Major players in the turbo expander market are Siemens AG, GE Vernova LLC, Air Liquide S.A., Baker Hughes Company, Kobe Steel Ltd., Atlas Copco AB, Air Products and Chemicals Inc., MAN Energy Solutions SE, Chart Industries Inc., Cryostar SAS, Nikkiso Co. Ltd., R&D Dynamics Corporation, Havayar Industrial Group, Sapphire Technologies Inc., Blair Engineering Inc., PBS Group a.s., Elliott Company, Sichuan Air Separation Plant (Group) Co. Ltd., Suzhou XIDA Cryogenic Equipment Co. Ltd., Sichuan ZJ-TIBO Cryogenic Equipment Co. Ltd.
Asia-Pacific was the largest region in the turbo expander market in 2024. Middle East And Africa is expected to be the fastest-growing region in the forecast period. The regions covered in turbo expander report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the turbo expander market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The turbo expander market consists of sales of cryogenic turbo expanders, integral gear turbo expanders, magnetic bearing turbo expanders, oil-free turbo expanders, and skid-mounted turbo expander units. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Turbo Expander Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on turbo expander market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for turbo expander ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The turbo expander market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.