Expander Market Size, Share, Opportunities, And Trends By Pump Type (Integrally Geared Expanders, Axial Flow Expanders), By Stage Type (Single Stage, Multi-Stage), By End-Users (Chemical, Oil-Gas, Power & Energy, Others), And By Geography - Forecasts From 2023 To 2028

The expander market is expected to show strong growth during the forecast period. An expander harnesses kinetic energy through turbines, which drive electrical generators to convert them into electricity. Expander technologies find applications across various industries, including chemical, oil & gas, power & energy, and other sectors. These end-users rely on expanders for energy recovery, waste heat utilization, and power generation. Expander market size is experiencing significant growth primarily due to the increasing emphasis on energy efficiency and sustainability across various sectors.

Increasing energy efficiency and sustainability bolsters the expander market growth.

Expander technologies are pivotal in the efficient recovery and optimization of energy resources as by converting low-grade energy sources into usable power, expanders significantly reduce energy consumption and minimize environmental impact. Owing to the world's growing emphasis on energy efficiency there has been a surge in demand for expanders in applications such as waste heat recovery and renewable energy generation. According to the International Energy Agency, in 2021, the world witnessed a significant increase in renewable electricity capacity additions, reaching 288.9 gigawatts (GW). This represents a 3% growth compared to the previous year. Also, in 2025 the renewable capacity is expected to reach 317.8 GW.

Rising demand for cogeneration systems drives the expander market expansion.

The expander industry is experiencing growth driven by the increasing demand for cogeneration systems which can generate electricity and useful heat simultaneously from a single fuel source. Expander technologies play a vital role in these systems by enabling power extraction from the expansion of hot gases or steam. This rising demand for CHP systems across industrial sectors coupled with new product launches is fuelling the expansion of the expander industry. For instance, in April 2023, Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. introduced the SGP M2000, a natural gas engine cogeneration system with a 2,000kW generation output.

Growingt natural gas and oil production drives the expander market growth.

Expander owing to its power generation feature is used in gas processing, liquefied natural gas (LNG) production, and gas transmission. These expanders are essential for tasks such as gas compression, dehydration, and transportation, enabling the utilization of natural gas as a cleaner-burning fuel source. As the global exploration and extraction of natural gas and oil reserves continue to increase, the demand for expanders is on the rise. According to the Ministry of Petroleum and Natural Gas, in India, natural gas production during the period of April-February 2021-2022 reached a cumulative total of 31,137.26 MMSCM. This shows an increase of 19.82% compared to the previous year.

 Asia-Pacific is projected to dominate the expander market.

Asia-Pacific is expected to account for a significant market share as the growing demand for natural gas, coupled with the increasing adoption of cogeneration systems and region's strong emphasis on energy efficiency and sustainability, promoting the utilization of low-grade energy sources for power generation. According to the International Energy Agency, South Korea's total annual supply of natural gas witnessed growth from 2,071,730 TJ in 2020 to 2,271,287 TJ in 2021. Also, according to the Ministry of New and Renewable Energy, as of October 31, 2022, India has successfully installed a total capacity of 10,205.61 MW in the biomass power and cogeneration sector.

High initial investment restrains the expander growth.

High substantial investments required for research, development, and infrastructure setup is posing as a major challenge for the expander market growth as this financial requirement acts as a limiting factor, impeding the entry of SMEs into the market and consequently slowing down the overall growth of the industry. SMEs often face resource constraints, making it challenging for them to allocate the necessary funds for exploring and implementing expander technologies. As a result, their ability to compete and establish a presence in the market is hindered, limiting the industry's expansion potential.

Key Developments

• February 2023: Rotating Machinery Services, Inc. (RMS) had recently finalized an agreement with Siemens Energy for the acquisition of the fluid catalyst cracking unit (FCCU) Hot Gas Expander product line. With the completion of this strategic acquisition, RMS has now solidified its position as the rightful owner of the entire intellectual property, inventory, and associated tooling of the highly sought-after FCCU Expander product line. By incorporating this product line into its portfolio, RMS expands its capabilities and enhances its position in the market.
• June 2022: Elliott Group unveiled an innovative impulse-type, two-phase cryogenic expander solution, introducing a groundbreaking approach to the expansion process of liquefied gases. This innovative technology enables the controlled expansion of liquefied gases into two-phase mixtures, offering enhanced efficiency and performance. By utilizing this expander, companies can optimize the transformation of liquefied gases into usable energy while maintaining precise control over the expansion process.
• August 2020: A strategic alliance had established between Atlas Copco Gas and Process and Vericor Power Systems, signalling a significant development in the industry. This collaboration aims to manufacture integrally geared centrifugal compressors and radial turboexpanders that will be mounted on the same gearbox and powered by Vericor gas turbines. This joint effort will empower customers by providing them with highly reliable solutions for their compression processes, particularly in challenging and remote applications.

Company Products

• Integrally Geared Expanders: The integrally geared expanders offered by MAN Energy Solutions find extensive applications across various processes, including terephthalic acid and nitric acid production. These expanders exhibit versatility, allowing for both high- and low-pressure ratios to meet specific process requirements. They are available in single and multi-stage configurations, offering flexibility in design. Additionally, the expanders can be employed as standalone machines or seamlessly integrated as part of an integrally geared compressor system with a wide range of volume flows accommodated.
• Integrally Geared Radial Expanders: Siemens AG offers integrally geared radial expanders that provide versatile solutions for various applications. These expanders can be configured as standalone units with up to three expansion stages positioned around a central bull gear, or they can be seamlessly integrated into the casing of an integrally geared compressor, transferring power directly to the compressor bull gear via a pinion shaft. Designed in compliance with industry standards such as API 617 and API 672, these expanders ensure high performance and reliability. With a capability to handle gas inlet temperatures of up to 550 °C / 1,020 °F and maximum inlet pressures of 20 bar / 290 psi.

Segmentation

• By Pump Type
  • Integrally Geared Expanders
  • Axial Flow Expanders
• By Stage Type
  • Single Stage
  • Multi-Stage
• By End-Users
  • Chemical
  • Oil-Gas
  • Power & Energy
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Other

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. EXPANDERS MARKET ANALYSIS, BY TYPE

5.1. Introduction

5.2. Integrally Gear Expanders

5.3. Axial Flow Expanders

6. EXPANDERS MARKET ANALYSIS, BY STAGE TYPE

6.1. Introduction

6.2. Single Stage

6.3. Multi-Stage

7. EXPANDERS MARKET ANALYSIS, BY END-USERS

7.1. Introduction

7.2. Chemical

7.3. Oil & Gas

7.4. Power & Energy

7.5. Others

8. EXPANDERS MARKET ANALYSIS, BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1.  Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. Germany

8.4.2. UK

8.4.3. France

8.4.4. Spain

8.4.5. Others

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Others

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. South Korea

8.6.4. India

8.6.5. Australia

8.6.6. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. MAN Energy Solutions

10.2. Sulzer Ltd

10.3. Siemens AG

10.4. Baker Hughes Company

10.5. Atlas Copco AB

MAN Energy Solutions

Sulzer Ltd

Siemens AG

Baker Hughes Company

Atlas Copco AB