Turboexpander Market Share

APAC Market Analysis

Asia Pacific industry is likely to dominate majority revenue share of 35% by 2037, owing to high focus on using cleaner energy sources in the region. Asia Pacific region holds the highest market potential owing to the high focus on using cleaner energy sources, especially, in China, India, Japan, and Malaysia. In addition to that, the presence of favorable government initiatives to boost and promote the hydrogen economy is the largest favorable factor for the growth of the region in the upcoming years.

North American Market Forecast

The North American turboexpander market is set to hold 24% of the revenue share by the end of the projected timeframe. The rapid growth of investments by the United States and Canadian governments in shale gas exploration is anticipated to be the primary factor for the growth of the market in the region. Also, the high investments in natural gas production are anticipated to drive market expansion in the forecast period.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of turboexpander is assessed at USD 1.14 billion.

The turboexpander market size was over USD 1.08 billion in 2024 and is projected to reach USD 2.54 billion by 2037, witnessing around 6.8% CAGR during the forecast period i.e., between 2025-2037. The growth of the electricity demand along with the need for cleaner sources of energy will drive the market growth.

Asia Pacific industry is likely to dominate majority revenue share of 35% by 2037, owing to high focus on using cleaner energy sources in the region.

The major players in the market are L.A. Turbine (Chart Industries, Inc.), Air Liquide Engineering & Construction, Atlas Copco, Air Products and Chemicals, Inc., Baker Hughes Company, Linde plc, Elliott Company, Siemens Energy AG, MAN Energy Solutions SE, Honeywell International Inc.

Turboexpander Market Share