Market Highlights

With the increasing electrical grid modernization, network upgradations, rising fuel prices, and growing energy demand, there is a need for alternative energy sources. Micro turbines are used for cogeneration and as standby power source, which is projected to witness significant demand in the next five years. The increasing need of reliable electric supply and subsequent investment in producing new generation capacity, high productivity, and low carbon discharge features will attribute towards the growth of gas turbine market.

The need for producing green energy and high reliability on alternative energy sources, is driving the global micro turbine market.

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Industry Overview

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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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.

Segmentation

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.

Regional Outlook

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.

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