Global Micro Turbines Market valued approximately USD 159 Million in 2016 is anticipated to grow with a healthy growth rate of more than 9% over the forecast period 2017-2025. Microturbines are cable to run independently or on variety of fuels like propane, biogas, diesel, and high and low pressure natural gas. Government support for greener solutions, increasing demand for reliable power, heavy investments by financial institutions, and availability of fuel are the key drivers for the growth of the global micro turbines market during the anticipated period. However, falling gas and oil prices is the major restraining factor of the market growth.
Distributed power generation is attaining importance in developing and developed countries. The micro turbine is reinforced by the policies and incentives for promotion expansion. It has less payback time from the investment comparative to the other technologies. Various advantages include connection flexibility, ability to deliver stable and reliable power, capability to work in parallel for larger loads, and less emissions from the other technologies. Big turbines are different from Microturbines which are based on their compression temperatures and combustion ratio. It can be modified based on emission rules to meet federal and state emission regulations and the strict guidelines.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Power Rating:
- 12-50 kW
- 50-250 kW
- 250-500 kW
- Combined Heat & Power
- Standby Power
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015
Base year – 2016
Forecast period – 2017 to 2025
Some of the key manufacturers involved in the market Ansaldo Energia, Capstone Turbine, Bladon Jets, Flexenergy, Enftech Innovation, Aurelia, Icrtec, MTT, Toyota Turbines & Systems, 247solar, Bowman, Tubrotech, Brayton Energy. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Micro Turbines Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers