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In 2022, the market for micro turbines is predicted to be worth $0.12 billion. Forecasts place the Micro Turbine Market at USD 0.28 billion by 2030, up from an estimated USD 0.13 billion in 2023. The growth of the combined heat and power (CHP) industry and the micro turbine market are being driven by factors such as rising global electricity demand and the resulting investments in power plants, the economic benefits of adopting micro turbines, rising global efforts to minimise greenhouse gas emissions, and the rising popularity of CHP. However, declining oil and gas prices may impede market expansion.
Microturbines use liquid and gaseous fuels, and are small, low-combustion rotary engines. This innovative distributed generation technique is being used in stationary power plants. These turbines generate power and heat on a micro and mini size respectively. It has many advantages over competing technologies, including minimal emissions, a small number of moving parts, higher efficiency, a smaller footprint, and cheaper electricity. The cost to run and maintain these turbines is low. The micro turbine market's CAGR is being driven by the rise in power consumption brought on by the world's expanding population. The growth of infrastructure substantially contributes to the increase in electrical power consumption. The worldwide demand for energy is expected to rise as a result of the increasing number of emerging countries entering the industrialization process and the launch of several smart city and smart building initiatives. The public and commercial sectors are both increasing power plant capacity and constructing new powerhouses to keep up with rising energy demand. The majority of these projects are using gas-powered turbines since they are less expensive and produce fewer harmful emissions. The government has legislated stringent environmental rules, further driving businesses to widely deploy these turbines. Over the forecast period, the market is expected to expand thanks to these factors.
rapid growth in the number of renewable energy facilities around the world in response to rising public anxiety over the state of the planet. Multiple governments are now putting an emphasis on mandating renewable energy sources in an effort to curb rising air pollution levels. To further its goal of reducing pollution, the government has also adopted stringent emission standards. The combined heat and power industry is likewise experiencing a boom in investment. The CH is currently the dominant market for these turbine installations. As a result, it promotes the growth of the market over the forecast period. Demand for microturbines is rising as their ability to provide green energy with minimal environmental impact becomes increasingly important. Concerns about global warming and the use of fossil fuels are predicted to boost demand for microturbines, which will propel market expansion. Global energy consumption rose by 2.3% in 2018, double the average rate seen over the previous decade, according to the International Energy Agency. Strong global economic development and rising interest in heating and cooling in some regions also contributed to the expansion. Increased petroleum use accounted for around 70% of the worldwide increase, while renewable energy sources provided about 25%. In 2018, electricity accounted for 20% of the world's total energy consumption, and its demand is rising at a rate of 4% per year. It is forecasted that the need for micro turbines will significantly rise in tandem with the rising demand for energy.
The growth of the Micro Turbine Market may be attributed to the substantial investment in R&D by the industry's leading players. New product launches, contracts, mergers, acquisitions, increased investment, and partnerships are all examples of significant market changes. There are a variety of strategic moves being made by market participants. If the micro turbine industry is to succeed in today's cutthroat marketplace, it will need to offer competitively priced goods.
Capstone Turbines is the world's preeminent maker of eco-friendly micro turbines. From 30 kilowatts (kW) to one megawatt (MW), the company provides a full range of micro turbine solutions. The company's primary focus is on the research, design, production, and distribution of micro turbines and associated products and services. Cogeneration (combined heat and power), integrated combined heat and power (ICHP), combined cooling, heat, and power (CCHP), renewable energy, natural resources, and critical power supply are just some of the stationary distributed power generation applications where Capstone's micro turbine technology solutions are put to use. Capstone also offers replacement components and services for micro turbine engines it has previously manufactured. The majority of the company's overseas sales are made through OEMs and distributors. One of the company's primary growth methods that has helped it maintain its market position is the use of contracts and agreements. The arrangement with the huge greenhouse operation in Colorado, US was signed in September 2017 and will last for 5 years. The company planned to power the Colorado greenhouse with a fleet of C65 micro turbines fuelled by propane.
Report Coverage
Global Micro Turbine research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Micro Turbine report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Micro Turbine competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Micro Turbine market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Micro Turbine market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Micro Turbine market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Micro Turbine market based on the below-mentioned segments:
Global Micro Turbine Market, By Power Rating
12 kW -50 kW
50 kW-250 kW
250 kW-500 kW
Global Micro Turbine market, By Application
Cogeneration
Standby Power
Global Micro Turbine Market, By End User
Industrial
Commercial
Residential
Global Micro Turbine market, Regional Analysis
Microturbines use liquid and gaseous fuels, and are small, low-combustion rotary engines. This innovative distributed generation technique is being used in stationary power plants. These turbines generate power and heat on a micro and mini size respectively. It has many advantages over competing technologies, including minimal emissions, a small number of moving parts, higher efficiency, a smaller footprint, and cheaper electricity. The cost to run and maintain these turbines is low. The micro turbine market's CAGR is being driven by the rise in power consumption brought on by the world's expanding population. The growth of infrastructure substantially contributes to the increase in electrical power consumption. The worldwide demand for energy is expected to rise as a result of the increasing number of emerging countries entering the industrialization process and the launch of several smart city and smart building initiatives. The public and commercial sectors are both increasing power plant capacity and constructing new powerhouses to keep up with rising energy demand. The majority of these projects are using gas-powered turbines since they are less expensive and produce fewer harmful emissions. The government has legislated stringent environmental rules, further driving businesses to widely deploy these turbines. Over the forecast period, the market is expected to expand thanks to these factors.
rapid growth in the number of renewable energy facilities around the world in response to rising public anxiety over the state of the planet. Multiple governments are now putting an emphasis on mandating renewable energy sources in an effort to curb rising air pollution levels. To further its goal of reducing pollution, the government has also adopted stringent emission standards. The combined heat and power industry is likewise experiencing a boom in investment. The CH is currently the dominant market for these turbine installations. As a result, it promotes the growth of the market over the forecast period. Demand for microturbines is rising as their ability to provide green energy with minimal environmental impact becomes increasingly important. Concerns about global warming and the use of fossil fuels are predicted to boost demand for microturbines, which will propel market expansion. Global energy consumption rose by 2.3% in 2018, double the average rate seen over the previous decade, according to the International Energy Agency. Strong global economic development and rising interest in heating and cooling in some regions also contributed to the expansion. Increased petroleum use accounted for around 70% of the worldwide increase, while renewable energy sources provided about 25%. In 2018, electricity accounted for 20% of the world's total energy consumption, and its demand is rising at a rate of 4% per year. It is forecasted that the need for micro turbines will significantly rise in tandem with the rising demand for energy.
The growth of the Micro Turbine Market may be attributed to the substantial investment in R&D by the industry's leading players. New product launches, contracts, mergers, acquisitions, increased investment, and partnerships are all examples of significant market changes. There are a variety of strategic moves being made by market participants. If the micro turbine industry is to succeed in today's cutthroat marketplace, it will need to offer competitively priced goods.
Capstone Turbines is the world's preeminent maker of eco-friendly micro turbines. From 30 kilowatts (kW) to one megawatt (MW), the company provides a full range of micro turbine solutions. The company's primary focus is on the research, design, production, and distribution of micro turbines and associated products and services. Cogeneration (combined heat and power), integrated combined heat and power (ICHP), combined cooling, heat, and power (CCHP), renewable energy, natural resources, and critical power supply are just some of the stationary distributed power generation applications where Capstone's micro turbine technology solutions are put to use. Capstone also offers replacement components and services for micro turbine engines it has previously manufactured. The majority of the company's overseas sales are made through OEMs and distributors. One of the company's primary growth methods that has helped it maintain its market position is the use of contracts and agreements. The arrangement with the huge greenhouse operation in Colorado, US was signed in September 2017 and will last for 5 years. The company planned to power the Colorado greenhouse with a fleet of C65 micro turbines fuelled by propane.
Report Coverage
Global Micro Turbine research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Micro Turbine report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Micro Turbine competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Micro Turbine market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | 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). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Micro Turbine Market from 2021 to 2030.
- Market Forecast for Micro Turbine Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Micro Turbine competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Micro Turbine
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Micro Turbine market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Micro Turbine market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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).
Primary Target Market
- Market Players of Micro Turbine
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Micro Turbine market based on the below-mentioned segments:
Global Micro Turbine Market, By Power Rating
12 kW -50 kW
50 kW-250 kW
250 kW-500 kW
Global Micro Turbine market, By Application
Cogeneration
Standby Power
Global Micro Turbine Market, By End User
Industrial
Commercial
Residential
Global Micro Turbine market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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