The Global Micro Turbines Market was valued at USD 150.02 million in 2016 and is projected to reach USD 340.09 million by 2025, growing at a CAGR of 9.52% from 2017 to 2025.
Micro Turbines are small combustion turbines that convert fluid energy into mechanical energy, using micro electro mechanical systems technologies. Micro turbines are a relatively new technology for the generation of electric power. Benefits of micro turbine include – small number of moving parts, compact size, light weight, greater efficiency, lower emissions, lower electricity costs, and opportunities to utilize waste fuels.
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1. Market Drivers
1.1 Increasing in distributed power generation capacity
1.2 Rising focus on generation of clean energy
1.3 Growing demand for energy
1.4 Need to replace traditional coal and nuclear plants
1.5 Cost effective power generation
2. Market Restraints
2.1 Advancements of electrical grids and network upgradations
2.2 Declining oil and gas prices
2.3 Poor energy efficiency
The Global Micro Turbines Market is segmented on the end user, application, capacity, and region.
1. End User:
2. By Application:
2.1 Standby Power
2.2 Combined Heat and Power
3. By Capacity:
3.1 12–50 kW
3.2 50–250 kW
3.3 250–500 kW
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Capstone Turbine
2. Bladon Jets
3. Eneftech Innovation
5. Toyota Turbine and Systems
8. Ansaldo Energia
9. Brayton Energy
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Micro Turbines Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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