Turboexpander Market Trends, Drivers And Restraints By 2030
Turboexpander Market Growth & Trends The global turboexpander market size is projected to reach USD 1,404.1 million by 2030, growing at a CAGR of 4.8%, according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing demand for energy-efficient turboexpanders for geothermal, waste to recovery, natural gas production, and other gas processing applications. Favorable government initiatives to curb the Green House Gases (GHG) emissions have encouraged the economies worldwide to consume natural gas by-products such as Liquefied Natural Gas (LNG) and Compressed Natural Gas (CNG). This would eventually increase the demand for the turboexpanders in the oil & gas sector over the forecast period. Turboexpander Market Segmentation Grand View Research has segmented the global turboexpander market based on product type, loading device, power capacity, application, end use, and region: Based on the Product Type Insights, the marke...