The global demand for Microturbine Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Microturbines are a comparatively new distributed generation technology being used for stationary energy generation applications. They are a type of combustion turbine that generates both heat and electricity on a relatively small scale. Microturbines are small combustion turbines about the size of a refrigerator with outputs of 25 kW to 500 kW. Microturbines provide several potential advantages compared to other technologies for small-scale power generation, containing: a small number of moving parts, compact size, lightweight, greater efficiency, lower emissions, lower electricity costs, and opportunities to utilize waste fuels. Waste heat recovery can also be utilized with these systems to accomplish proficiencies greater than 80%. Because of their small size, relatively low capital costs, expected low operations and maintenance costs, and automatic electronic control, microturbines are expected to capture a significant share of the distributed generation market. In addition, microturbines offer an efficient and clean solution to direct mechanical drive markets such as compression and air-conditioning.
The rapidly growing energy demand across the globe is the key factor driving the market growth. Additionally, there is an increasing focus on green and sustainable power generation, which is propel the demand as microturbines offer stable and reliable power with minimal emissions of greenhouse gases. Additionally, extensive adoption of CHP systems across various industries is also catalyzing the market growth. They are widely used in wastewater treatment plants, breweries, paper and rubber mills and the residential segment for providing residual heat in cold climates.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of microturbine.
The entire microturbine market has been sub-categorized into application, power rating, end-user. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Power Rating
- Combined Heat and Power (CHP)
- Standby Power
- 12 kW – 50kW
- 50 kW – 250 kW
- 250 kW – 500 kW
This section covers regional segmentation which accentuates on current and future demand for microturbine market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Microturbine Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the microturbine market include Ansaldo Energia SPA, Bladon Jets, Capstone Turbine Corporation, FlexEnergy Inc., Brayton Energy, LLC, Toyota Motor Corporation, Micro Turbine Technology B.V., ICR Turbine Engine Corporation, Calnetix Technologie, Others. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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