Turboexpander Market Size

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

The demand for natural gas to create a sustainable living is anticipated to increase the usage of turboexpanders owing to their effectiveness in producing energy. In 2021, the global consumption of natural gas increased by around 4% and reached almost 4 trillion cubic meters.

Turbo expanders are highly efficient in hydrocarbon processing and air separation plants. The latest development in the design of turboexpanders has also facilitated its application in the liquefaction of gases, heat recovery, and geothermal. They are considered to be an important part of any compressor system. Hence, it is projected that the global turboexpander market is bound to expand owing to the escalation in demand from various industrial applications.

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 Size