Turboexpander Market Size Is Anticipated To Reach USD 1,404.1 Million By 2030
San Francisco, 31 December 2024: The Report Turboexpander Market Size, Share & Trends Analysis Report By Product Type (Axial, Radial), By Loading Device (Compressors, Generator, Hydraulic), By Power Capacity, By End Use, By Application, By Region, And Segment Forecasts, 2022 - 2030 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 sect...