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Global Microturbine Market: By Power Rating; By Application: Standby Power, Combined Heat and Power (CHP); By End Use: Commercial, Industrial, Residential, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
Global Microturbine Market Outlook
The global microturbine market attained USD 219 million in 2020. The market is projected to grow at a CAGR of 8.5% between 2021 and 2026, to reach USD 360 million by 2026.
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Growing Emphasis on Clean Energy Generation to Boost the Market Growth of Microturbine
There has been an increased emphasis on the generation of energy from renewable and non-polluting sources over the last decade. In addition to the adverse effects of global warming, several climate change agreements have been adopted. High levels of greenhouse gas emissions such as carbon dioxide (CO2) and carbon monoxide contribute to the use of fossil sources, including crude oil, coal and natural gas (CO). Compared to fossil fuels, microturbines emit very low emissions in terms of sulphur oxide (SO) and nitrogen oxide (NO) concentrations, leading to its increasing adoption. The largest market for microturbines is North America, followed by Europe and the Asia Pacific. In recent years, the US has accounted for the majority share in the North American region. In this region, ageing power plants and recurrent natural disasters have created tremendous growth opportunities for the demand for microturbines.
Microturbine: Market Segmentation
Microturbines are mini combustion turbines that normally control an electric engine on gaseous or liquid fuels. The production of the microturbine was accelerated by the design resemblance to a large turbine that provides the engineering basis. Natural gas, other gaseous liquids, waste heat from a thermal power plant, and liquid petroleum fuels are the fuels used to service the microturbine.
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By power rating, the market is divided into:
- 12 kW-50 kW
- 50 kW-250 kW
- 250 kW-500 kW
- Others
On the basis of application, the market is segmented into:
- Standby Power
- Combined Heat and Power (CHP)
Based on end use, the market is divided into:
- Commercial
- Industrial
- Residential
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Technological Advancements to Boost the Market Growth of Microturbine
The potential of microturbine systems to run on different fuels is one of the most important industry factors. The use of materials, including thermal barrier coatings and ceramics, enhances the performance of microturbine systems and ultimately raises the working temperature of the engine. It is predicted that such technological advances in microturbines would strengthen the industry further. Hybrid electric cars boost the maximum requirement for microturbines with low power ratings. Due to major OEMs increasingly investing in R&D activities to increase the performance of microturbines, the market is expected to gain momentum in the near future. Moreover, in order to achieve profitable electricity production and supply, both power generation plants and customers are constantly looking for cost-effective operations.
Key Industry Players in the Global Microturbine Market
The report gives a detailed analysis of the following key players in the global microturbine market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Ansaldo Energia S.p.A.
- Capstone Turbine Corporation
- Brayton Energy, LLC
- Bladon Jets Holdings Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2017-2021 |
| Forecast Period | 2022-2027 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Power Rating, Application, End Use, Region |
| Breakup by Power Rating | 12 kW – 50kW, 50 kW – 250 kW, 250 kW – 500 kW, Others |
| Breakup by Application | Standby Power, Combined Heat and Power (CHP) |
| Breakup by End Use | Commercial, Industrial, Residential, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Ansaldo Energia S.p.A., Capstone Turbine Corporation, Brayton Energy, LLC, Bladon Jets Holdings Limited, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Microturbine Market Analysis
8.1 Key Industry Highlights
8.2 Global Microturbine Historical Market (2017-2021)
8.3 Global Microturbine Market Forecast (2022-2027)
8.4 Global Microturbine Market by Power Rating
8.4.1 12 kW – 50kW
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2017-2021)
8.4.1.3 Forecast Trend (2022-2027)
8.4.2 50 kW – 250 kW
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2017-2021)
8.4.2.3 Forecast Trend (2022-2027)
8.4.3 250 kW – 500 kW
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2017-2021)
8.4.3.3 Forecast Trend (2022-2027)
8.4.4 Others
8.5 Global Microturbine Market by Application
8.5.1 Standby Power
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2017-2021)
8.5.1.3 Forecast Trend (2022-2027)
8.5.2 Combined Heat and Power (CHP)
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2017-2021)
8.5.2.3 Forecast Trend (2022-2027)
8.6 Global Microturbine Market by End Use
8.6.1 Commercial
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2017-2021)
8.6.1.3 Forecast Trend (2022-2027)
8.6.2 Industrial
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2017-2021)
8.6.2.3 Forecast Trend (2022-2027)
8.6.3 Residential
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2017-2021)
8.6.3.3 Forecast Trend (2022-2027)
8.6.4 Others
8.7 Global Microturbine Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country Kingdom
9.2.3.1 United
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Ansaldo Energia S.p.A.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Capstone Turbine Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Brayton Energy, LLC
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Bladon Jets Holdings Limited
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Microturbine Market: Key Industry Highlights, 2016 and 2026
2. Global Microturbine Historical Market: Breakup by Power Rating (USD Billion), 2017-2021
3. Global Microturbine Market Forecast: Breakup by Power Rating (USD Billion), 2022-2027
4. Global Microturbine Historical Market: Breakup by Application (USD Billion), 2017-2021
5. Global Microturbine Market Forecast: Breakup by Application (USD Billion), 2022-2027
6. Global Microturbine Historical Market: Breakup by End Use (USD Billion), 2017-2021
7. Global Microturbine Market Forecast: Breakup by End Use (USD Billion), 2022-2027
8. Global Microturbine Historical Market: Breakup by Region (USD Billion), 2017-2021
9. Global Microturbine Market Forecast: Breakup by Region (USD Billion), 2022-2027
10. North America Microturbine Historical Market: Breakup by Country (USD Billion), 2017-2021
11. North America Microturbine Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Europe Microturbine Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Europe Microturbine Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Asia Pacific Microturbine Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Asia Pacific Microturbine Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Latin America Microturbine Historical Market: Breakup by Country (USD Billion), 2017-2021
17. Latin America Microturbine Market Forecast: Breakup by Country (USD Billion), 2022-2027
18. Middle East and Africa Microturbine Historical Market: Breakup by Country (USD Billion), 2017-2021
19. Middle East and Africa Microturbine Market Forecast: Breakup by Country (USD Billion), 2022-2027
20. Global Microturbine Market Structure
Key Questions Answered in the Report
In 2020, the global microturbine market attained a value of nearly USD 219 million.
The market is projected to grow at a CAGR of 8.5% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 360 million by 2026.
Cost-effective power generation, awareness about clean energy and CHP, falling oil and gas prices, are key factors driving the growth of the microturbine industry.
Key industry trends of the market includes replacement of phased-out nuclear and coal plants.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading power ratings of microturbine in the market are 12 kW-50 kW, 50 kW-250 kW, and 250 kW-500 kW, among others.
The major application segments in the industry are standby power and combined heat and power (CHP).
The leading end use sectors in the market are commercial, industrial, and residential, among others.
The major players in the industry are Ansaldo Energia S.p.A., Capstone Turbine Corporation, Brayton Energy, LLC, and Bladon Jets Holdings Limited, among others.
Analyst Review
The global microturbine market attained a value of USD 219 million in 2020, driven by the rising awareness about clean energy. Aided by the growing replacement of phased-out nuclear and coal plants, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 8.5%. The market is projected to reach USD 360 million by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on power rating, the market is segmented into 12 kW-50 kW, 50 kW-250 kW, and 250 kW-500 kW, among others. By application, the industry is bifurcated into standby power and combined heat and power (CHP). On the basis of end use, the market is segmented into commercial, industrial, and residential, among others. The major regional markets for microturbine are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Ansaldo Energia S.p.A., Capstone Turbine Corporation, Brayton Energy, LLC, and Bladon Jets Holdings Limited, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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