Surge in usage of natural gas for the generation of electricity has acted as a major driver of the global turboexpander market. Presently, major industries are shifting from using coal toward the application of natural gas as a source of fuel for power generation. This has increased the usage of pipelines, thus boosting the application of turboexpanders for more energy-efficient processes. In addition, turboexpander finds its application in cryogenic plants for the production of propane, ethane, and butane.
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However, high procurement cost for turboexpanders is anticipated to have negative impacts on the growth of the turboexpander market. On the contrary, governments of many countries are coming up with favorable regulations to promote the use of clean fuel in the industries, which are anticipated to offer remunerative opportunities for the expansion of the global market.
Key Market Players
- Atlas Copco
- Cryostar
- Hangzhou Hangyang Co. Ltd.
- Turbogaz
- Cryogenic Industries Inc.
- Elliott Group
- Texan Turbine Inc.
- Fluidmechanics Inc.
- Honeywell International Inc.
- Havacaran Industrial Technologies Co.
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Key benefits of the report
- This study presents the analytical depiction of the global turboexpander industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global turboexpander market share.
- The current market is quantitatively analyzed from 2020 to 2029 to highlight the global turboexpander market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
COVID-19 scenario analysis
The outbreak of the COVID-19 pandemic has severely impacted the global turboexpander market.
- Owing to the outbreak of the pandemic and the resulted economic downfall, the prices of oil & gas have declined significantly. This is attributed to the fall in the demand in the market that caused huge losses to the major industries, which, in turn, led to reduction in demand for turboexpanders.
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