Market Research Future has published a research report about the global microturbine market that predicts growth for this market with 10% CAGR during the forecast period. 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.
The focus on green energy generation along with producing heat for industrial & commercial or residential activities, along with increasing demand of cogeneration application is anticipated to shift trends towards micro turbines. With the growing environmental concerns for global warming, due to burning of fossil fuels, cogeneration application is expected to dominate the micro turbine market during the forecast period.
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Prominent Industry Players
Ansaldo Energia S.P.A (Italy), Bladon Jets (Isle of Man), Brayton Energy LLC. (USA), Calnetix Technologies LLC (USA), Capstone Turbine Corporation (USA), Eneftech Innovation SA (Switzerland), FlexEnergy, Inc. (the USA), ICR Turbine Engine Corporation (USA), Microturbine Technology BV (the Netherlands), Toyota Motor Corporation (Japan), and Wilson Solarpower Corporation (USA).
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.
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.
Based on region, the global micro turbine market cover growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World.
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).
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. The most industrialized and hence strongest country-based markets in this region are China, India, and Japan, followed by the rest of the Asia Pacific region.
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).
Latest Industry News
- The India launch of Vazirani Shul is at 26 SEP 2018. This electric hypercar from Vazirani Automotive features four electric motors that are powered by a battery pack, one on each wheel. As per requirement, a microturbine starts up and charges the battery pack on the go. 24 SEP 2018
- Capstone Turbine Corporation, the world’s leading clean technology manufacturer of microturbine energy systems, is set to expand into the combined heat and power (CHP) market with a project to provide thermal and electrical power at a private high school in Arizona. This project includes the installation of the natural gas-fueled microturbine. 17 SEP 2018
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