Micro Turbine Market 2019 Report offers a professional and in-depth study on the current state of the Global Micro Turbine Market along with competitive landscape, Micro Turbine Market share and revenue forecasts 2023. This report is a valuable source of guidance for companies and individuals offering Industry Chain Structure, Business Strategies and Proposals for New Project Investments. A detailed analysis report of COVID-19 impact on Micro Turbine Market is provided with the report.
Rising adoption of microturbines as a distributed energy
generation source has led to significant market growth by the end of 2023. The
shift towards ascending growth of the global microturbine adoption is
attributed to an increasing focus on green energy generation along with heat
production for various industrial, commercial, and residential activities.
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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.
Further, burgeoning demand for cogeneration application is
also contributing majorly to the shift of trends towards micro turbine
adoption. Other factors fueling market growth for microturbines include the
aging of grid infrastructure, easier fuel availability, proliferated demand for
clean energy and an ascending need for green energy.
Prominent
Market Players
Some key players in the global microturbine market include
Bladon Jets (Isle of Man), Ansaldo Energia S.P.A (Italy), Brayton Energy LLC.
(USA), FlexEnergy, Inc. (the USA), Toyota Motor Corporation (Japan), Capstone
Turbine Corporation (USA), Microturbine Technology BV (the Netherlands),
Calnetix Technologies LLC (USA), ICR Turbine Engine Corporation (USA), Eneftech
Innovation SA (Switzerland), and Wilson Solarpower Corporation (USA).
Segmental
Analysis
The global microturbine market has been
segmented on the basis of application, end use, power rating, and lastly
region.
The application-based segmentation
segments this market into cogeneration and standby power. Cogeneration is
defined as the generation of electricity and useful heat jointly. Standby power
is the power consumed by an appliance or device when the device is not in use
but is ready to be put into use.
Based on end use, the market has
been segmented into commercial, industrial, and residential.
By power rating, the market has
been segmented into 12 KW-50kW, 50kW-250kW, and 250kW-500kW.
Global Micro
Turbine Regional Market Outlook
The regional segmentation of the global microturbine market
segments the market into continents-based regional markets that are North
America, Europe, Asia Pacific, and the rest of the world (RoW).
The biggest regional market for microturbine is North America,
due to growing awareness of carbon footprint and increased consumption of
energy in the region. In this region, the biggest country-specific market in
this region is the United States of America (USA). The market in the USA is
growing due to increased demand for alternative energy sources and possibility
of more coal and nuclear power plants to be decommissioned coupled with
stringent environmental regulations. After the USA, Canada is the most
important market in this region.
In Europe, due to investments in new technology and
environmental restraints raised by the government, the industry is focusing on
green energy, creating a market for microturbines. In this region, the most
significant country-specific markets are France, Germany, and the United Kingdom
(UK), followed by the rest of Europe. With industrialization and urbanization
increasing in the Asia Pacific region, the market can be expected to grow
during the forecast period as environmental concerns are being raised in this
region too. The most industrialized and hence strongest country-based
Industry
Update
March 2019: Techrules, a leading Chinese automotive R&D
company has developed its groundbreaking Turbine-Recharging Electric Vehicle
(TREV) System. The TREV system is the company’s proprietary series hybrid
powertrain technology that comprises a microturbine generator which delivers
extraordinary levels of efficiency and performance while having minimal impact
on the environment, primarily upon the use of renewable resources.
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