Dublin, June 13, 2018 (GLOBE NEWSWIRE) -- The "Turboexpander Market by Loading Device (Compressor, Generator, and Oil Break), Application (Air Separation, and Hydrocarbon), End-User (Manufacturing, Oil & Gas, and Power Generation), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The turboexpander market is projected to reach USD 390.8 million by 2023 from USD 290.6 million in 2018, at a CAGR of 6.61%
This growth can be attributed to the increasing share of natural gas in primary energy consumption and increasing focus on energy efficiency. Natural gas is a key fuel in the electric power and industrial sector because of its fuel efficiency. Thus, rising natural gas production is creating demand for turboexpanders in hydrocarbon applications. However, high initial costs involved in small-scale installations can hinder the growth of this market. The hydrocarbon segment is expected to dominate the turboexpander market (by value) between 2018 and 2023 The hydrocarbon segment held the largest share of the turboexpander market in 2017, and is estimated to hold the largest share (by value) during the forecast period. Hydrocarbon turboexpanders are relatively large in size and delivers power output ranging between 1,600 kW and 20,000 kW. Hydrocarbon applications includes liquefaction of petroleum gases, liquefaction of natural gases, dew point control, FPSO LNG, regasification, and nitrogen rejection. Increasing natural gas production by major oil and gas economies such as North America and Middle East is expected to drive the hydrocarbon turboexpander market during the forecast period. Asia Pacific: the fastest-growing market (by value) for turboexpanders Asia Pacific is expected to be the largest market for turboexpanders in 2023, expected to grow at the highest CAGR during the forecast period. China accounted for the largest share of the turboexpander market in Asia Pacific in 2017. Countries such as China and India are driving the turboexpander market in Asia Pacific. These countries are focusing on increasing natural gas production and are investing in refineries. Natural gas production and consumption levels are set to increase in China, owing to growing demands for turboexpanders. Moreover, Indian Oil Corp. (IOC) plans to invest USD 10.4 million (INR 70,000 crore) in India to increase its oil refining capacity from 80.7 million tonnes per annum (MTPA) to 116.55 MTPA by 2030. All these factors are expected to drive the growth of the turboexpander market in Asia Pacific. The leading players in the turboexpander market include Atlas Copco (Sweden), BHGE (US), Cryostar (France), Air Products and Chemicals (US), and L.A. Turbine (US).
Key Topics Covered:
1 Introduction 2 Research Methodology 3 Executive Summary 4 Automotive Turbocharger Market, Premium Insights 4.1 Attractive Opportunities in the Automotive Turbocharger Market 4.2 Automotive Turbocharger Market, By Technology 4.3 Automotive Turbocharger Market, By Fuel Type 4.4 Automotive Turbocharger Market, By Vehicle Type 4.5 Automotive Turbocharger Market, By Material, 4.6 Automotive Turbocharger Market, By Off-Highway Vehicles 4.7 Automotive Turbocharger Market, By Country 4.8 Hybrid Vehicle Turbocharger Market, Vehicle Type 4.9 Automotive Turbocharger Aftermarket 5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasing Stringency in Emission & Fuel Efficiency Regulations to Boost the Market for Automotive Turbochargers 5.2.1.2 Growing Demand for Commercial Vehicles to Drive the Market for Turbochargers 5.2.2 Restraints 5.2.2.1 Declining Demand for Diesel Passenger Car to Restrain the Market for Turbochargers 5.2.2.2 The Increasing Sale of Electric Vehicles Will Reduce the Demand for Turbochargers 5.2.3 Opportunities 5.2.3.1 Future Demand for Electric Turbochargers to Create Opportunities for Turbo Manufacturers 5.2.3.2 Turbocharger for Gasoline Engines 5.2.4 Challenges 5.2.4.1 Turbo Lag 5.2.4.2 Lightweight Material for Turbocharger Housing 6 Automotive Turbocharger Market, By Vehicle Type 6.1 Introduction 6.2 Passenger Car 6.3 Light Commercial Vehicle (LCV) 6.4 Truck 6.5 Bus 7 Automotive Turbocharger Oe Market, By Fuel Type 7.1 Introduction 7.2 Diesel 7.3 Gasoline 8 Automotive Turbocharger Market, By Technology 8.1 Introduction 8.2 VGT/VNT Turbocharger 8.3 Wastegate Turbocharger 8.4 Electric Turbocharger 9 Automotive Turbocharger Marker, By Material 9.1 Introduction 9.2 Cast Iron 9.3 Aluminum 9.4 Others 10 Automotive Turbocharger Market, By Hybrid & Plug in Hybrid Vehicle 10.1 Introduction 10.2 HEV 10.3 PHEV 11 Off-Highway Turbocharger Market, By Application 11.1 Introduction 11.2 Agricultural Tractor 11.3 Construction Equipment 11.4 Locomotive 12 Automotive Turbocharger Aftermarket, By Vehicle Type 12.1 Introduction 12.2 Light Commercial Vehicle (LCV) 12.3 Heavy Commercial Vehicle 13 Automotive Turbocharger Market, By Region 14 Competitive Landscape 14.1 Overview 14.2 Automotive Turbocharger: Market Share Analysis 14.3 Competitive Scenario 14.3.1 Expansions 14.3.2 New Product Launches/Developments 14.3.3 Supply Contracts/Agreements 14.3.4 Partnerships/Joint Ventures 15 Company Profiles 15.1 Honeywell 15.2 Continental AG 15.3 Borgwarner 15.4 Mitsubishi Heavy Industries 15.5 IHI 15.6 Eaton 15.7 Bosch Mahle 15.8 Cummins 15.9 ABB 15.10 Tel 15.11 Delphi Technologies 15.12 Additional Company Profiles 15.12.1 North America 15.12.1.1 Rotomaster International 15.12.1.2 Precision Turbo & Engine Inc. 15.12.1.3 Turbonetics Inc. 15.12.1.4 Turbo International 15.12.2 Europe 15.12.2.1 Kompressorenbau Bannewitz GmbH (KBB) 15.12.2.2 Turbo Dynamics Ltd 15.12.3 Asia Oceania 15.12.3.1 Fuyuan Turbocharger Co. Ltd 15.12.3.2 Hunan Tyen Machinery Co. Ltd 15.12.3.3 Ningbo Motor Industrial Co. Ltd
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