Turboexpander Market worth 390.8 Million USD by 2023, at a CAGR of 6.11% from 2018 to 2023.
The turboexpander market is expected to grow from an estimated USD 290.6 Million in 2018 to USD 390.8 Million by 2023, at a CAGR of 6.11%, from 2018 to 2023. This growth is primarily due to the increasing natural gas production and rising focus of end-users such as manufacturing and oil & gas sectors on energy efficiency. By energy source, natural gas accounts for the largest increase in world primary energy consumption and is an ideal choice for power and industrial sector due to its efficiency. All these factors have resulted in increased demand of turboexpanders.
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