Growing clean electricity demand coupled
with growing concern for reducing carbon footprint and the aging grid
infrastructure, will boost the global micro turbine market over the forecast
period. Micro turbines are used as an alternative energy source for power
generation. They are widely known for their function of cogeneration of heat
and power.
Micro turbines are widely accepted across
the world in the industrial & commercial sectors owing to growing demand of
combined heat and power in industries such as, oil & gas, construction,
pharmaceutical, manufacturing, waste water treatment, and mining among others.
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The factors aiding the growth of global
microturbine market include aging grid infrastructure, easy fuel availability,
increasing demand for clean energy, and need for green energy. The power
generation trends are shifting towards microturbines on green energy
generation, due to increasing demand for cogeneration application along with
producing heat for industrial & commercial or residential activities.
Segmentation
The market has been analyzed based on
application, power rating, end-user and region.
On the basis of application, the global
micro turbine market has been segmented as cogeneration, and standby power.
Based on power rating, it is classified as
12 kW -50 kW, 50 kW-250 kW, 250 kW-500 kW.
Based on end-user, it is further
classified as industrial, commercial, and residential.
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Asia-Pacific
region is expected to dominate the market
North America led the global micro turbine
market, owing to increased consumption of energy and growing awareness of
carbon footprint in the region. The U.S. dominated the North America micro
turbine market, due to several potential advantages over other technologies for
small-scale generation. The shale gas activities in the U.S., Canada, and
Mexico is expected to contribute in the development of micro turbine market in
the region.
Key
Players
The key players of the global micro
turbine market are Capstone Turbine Corporation (U.S.), FlexEnergy, Inc.
(U.S.), Ansaldo Energia S.p.A (Italy), and Brayton Energy LLC. (U.S.), Eneftech
Innovation SA (Switzerland), Microturbine Technology BV (the Netherlands),
Wilson Solarpower Corporation (U.S.), ICR Turbine Engine Corporation (U.S.),
Calnetix Technologies LLC (U.S.), Toyota Motor Corporation (Japan), and Bladon
Jets (Isle of Man) among others.
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