Micro Turbine Market Size is Projected to reach USD 311.5 Million by 2027 at a 10.3% CAGR rate | Brandessence Market Research

key players for global Micro Turbine Market are Capstone Turbine, Ansaldo Energia, UAV Turbines, Toyota Turbine and Systems, MTT Microturbine, Bowman, Bladon Jets, Dresser-Rand, Brayton Energy, FlexEnergy, Eneftech Innovation, Aurelia, ICR Turbine Engine Corporation, MIT, Turbo Tech, 247Solar and others.

pune, INDIA

Pune, India, April 05, 2021 (GLOBE NEWSWIRE) -- Global Micro Turbine Market is valued at USD 210.4 Million in 2020 and expected to reach USD 311.5 Million by 2027 with a CAGR of 10.3% over the forecast period. The global Micro Turbine market is expected to grow at significant growth rate due to number of driving factor. Increasing demand of electricity with increased focus to reduce environment pollution is anticipated to drive the growth of Global Micro Turbine Market.

Micro Turbines (MT) are tiny and relatively new distributed generation technology which can generate both heat and electricity. The electrical power output can vary from few kW to 500 kW along with steam generation. The micro turbines are also called distributed generators as they supply power at distribution level of grid which requires solid state interface as high rotational speed of about 40,000 rev/min- 120,000 rev/min. of turbine leads to high frequency which need to brought down to 50Hz to 60Hz to synchronize with grid. Micro turbines are derived from aircraft auxiliary power system & diesel engine turbo chargers which convert thermal energy to mechanical energy. It consists of combustor, compressor, turbine and generator packaged in a single unit for rapid installation & provide continuous operation to obtain higher electrical efficiency with low emission. The MT provides several advantages compared to other technologies for small scale power generation such as few moving parts, light weight, compact size, low emission & cost, high efficiency of more than 80% by using heat recovery. The MT can be used as standby power, peak saving, quality power, distributed generation, etc. These turbines are very helpful to produce electricity for small segment which can’t install huge personal generators such as farm, hospital, schools and etc. in remote locations.

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During covid-19 Pandemic, the governments around the world imposed movement restriction to control the spread of virus which resulted in reduced demand & price of crude oil. The reduced oil prices & government imposed lockdown globally led to decrease the demand for micro turbine, the demand for electricity also witnessed huge dip due to the industries & institutions were not allowed to operate. The Covid-19’s reducing impact will ease the restriction & the micro turbine market is expected to grow at fast due to need of clean & reliable power source which in turn will reduce load on power grid.

Increasing Demand for Clean Power is the Major Factor Driving the Growth of Global Micro Turbine Market

The major factor driving the growth of global micro turbine market is increasing demand of clean power. The increased focus on clean environment has led focus on non polluting sources of energy due to climate change agreement around the globe such as crude oil, natural gas and etc. emit high amount of green house gases. In addition, growing need for energy resources is also supplementing the market growth. The small power generation capacity can help certain area in hospital, schools, farms, etc. in addition, it is a reliable personal power source which can supply power when needed will bring down the load of the grid. However, the high cost of micro turbine & lowering oil demand & cost due to increased EV or others may hinder the market growth. In spite of that, growing awareness about environment pollution may provide an opportunity for the further growth of this market.

North America is Expected to Dominate the Global Micro Turbine Market

The global micro turbine market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the global micro turbine market within the forecast period due to its in-house micro turbine manufacturers with developed infrastructure. In addition, the dependence on the micro turbine will increase due to the growing awareness & ineffective use of solar panel as region don’t get sun most of the time.

Europe is anticipated to capture the significant share of this market due to its geographical location which limits the use of solar energy, and low hydro generation in this region. In addition, the region is front runner in the clean environment agreement & hence shows promising growth. Asia pacific is expected to grow at a faster pace due to increasing urbanization & technology penetration in this region.

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News: Capstone Launched New Microturbine

April 24th, 2017; Capstone Turbine Corp. expanded its Signature Series line of microturbines with the launch of the Capstone C200S microturbine. The 200 kW C200S microturbine incorporates numerous system and design upgrades intended to improve overall product quality, reliability and performance, the company said. The new product is especially suited to combined heat and power (CHP) and combined cooling, heat and power (CCHP) applications.

Key Players for Global Micro Turbine Market Report

Some of the key players for global Micro Turbine Market are Capstone Turbine, Ansaldo Energia, UAV Turbines, Toyota Turbine and Systems, MTT Microturbine, Bowman, Bladon Jets, Dresser-Rand, Brayton Energy, FlexEnergy, Eneftech Innovation, Aurelia, ICR Turbine Engine Corporation, MIT, Turbo Tech, 247Solar and others.

Global Micro Turbine Market Segmentation:

Global micro turbine market report is segmented on the basis of application, power rating, end-user and region & country level. Based upon application, global micro turbine market is classified into combined heat & power (CHP) and standby power. Based upon power rating, the market is divided into 12 kW–50 kW, 50 kW–250 kW and 250 kW–500 kW. Based upon end-user, global micro turbine market is divided into industrial, commercial and residential.

By Application:

By Power Rating:

  • 12 kW–50 kW
  • 50 kW–250 kW
  • 250 kW–500 kW

By End-User:

  • Industrial
  • Commercial
  • Residential

Key Benefits for Global Micro Turbine Market Report

  • Global Micro Turbine Market report covers in-depth historical and forecast analysis.
  • Global Micro Turbine Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
  • Global Micro Turbine Market report helps to identify opportunities in marketplace.
  • Global Micro Turbine Market report covers extensive analysis of emerging trends and competitive landscape.

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