During the projected period, the global microturbines market is expected to rise at a healthy CAGR of 10.8%.
Microturbine manufacturers are prioritizing opportunities that demand products with small sizes, lightweight, high efficiency, low emissions, cheap operating costs, and capacity to generate electricity from waste fuels.
Waste heat recovery can be accomplished with over 80% of the efficiency level, with microturbines. With increasing energy consumption across the globe.
The market for microturbines recorded significant growth within the last couple of years and is expected to witness twofold growth over the forecast period. The growing energy need is anticipated to continue pushing the demand for microturbine systems. North America is estimated to continue the monopoly in the market globally.
| Attributes | Details |
|---|---|
| Microturbines Market Value in 2020 | US$ 55 Million |
| Microturbines Market CAGR (2022 to 2032) | 10.8% |
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The economic benefits of adopting microturbines, increased attempts to minimize global greenhouse gas emissions, and expanding acceptance of CHP will contribute positively to market growth.
As the demand and applications of energy are increasing, the need for more sources supporting low-emission power generation is rising as well. This plays a key role in fuelling the demand for microturbines. Moreover, power generation plants, as well as consumers, are increasingly looking for cost-effective operations in order to achieve profitable power generation and supply.
One of the most crucial drivers of the market includes the ability of microturbine systems to operate on multiple fuels. The use of materials, including thermal barrier coatings and ceramics improves the efficiency of microturbine systems, eventually increasing the resultant engine operating temperature.
Such technological advancements in microturbines for power generation are estimated to further bolster the market. Hybrid electric vehicles raise the maximum demand for low-power rating microturbines. As major OEMs are increasingly investing in Research and Development activities for enhanced microturbines efficiency, the market is projected to gain traction in the near future.
The clean energy trend compels the reduction of greenhouse gas and other emissions. Furthermore, the high efficiency-low carbon emission characteristics of natural gas-fired power plants are driving the market for microturbines globally.
Cogeneration of power and heat allows for achieving high-efficiency energy generation with substantial primary energy savings, up to 40%, which is majorly driving the demand for microturbines, especially from CHP plants.
The commercial sector's potential will result in an expansion in the number of retail malls, sports complexes, resorts, and hotels. The rise of the digital economy, IT, and telecommunications industries has led to a surge in the construction of office complexes that require constant electricity.
On the basis of application, the market is segmented into CHP generation and standby power. Growing demand for CCHP and CHP is expected to positively shape the market of microturbines. The CHP generation segment is foreseen to dominate the market, accounting for more than half of the total market revenues by 2020 end.
Based on the end-use, the global microturbines market is segmented into industrial, commercial, and residential. The industrial end-use segment currently accounts for the largest market share of over 50% globally, which is anticipated to remain the largest end-use segment during the forecast period as well.
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Microturbines are highly popular in North America. The USA leads the North American market, accounting for over half of total global market sales. The increased awareness of one's carbon footprint will promote market growth in the USA.
Strict regulatory intervention by various environmental organizations, including CAA is estimated to drive the market in North America. While N. America is expected to retain the top market position, the USA will remain the clear leader through 2020.
The second-largest market for microturbines is Europe. Recently reformed policies by EU NEC (European Union National Emission Ceilings) have had an optimistic impact on the market. Europe is expected to witness strong demand for microturbines for power generation during the forecast period.
The Asia Pacific is reportedly the fastest-growing market for microturbines. Owing to the growing demand for fuel-efficient vehicles from developing economies, this region is estimated to record substantial expansion by 2020 end.
| Attributes | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2014 to 2020 |
| Market Analysis | US$ Million for Value |
| By Power Rating | 12 kW - 50 kW, 50 kW - 250 kW, 250 kW - 500 kW, 501 kW - 1000kW |
| By Application | Combined Heat and Power (CHP), Standby Power |
| By End User | Industrial, Commercial, Residential |
| By Region | North America; Latin America; Asia Pacific; Western Europe; Eastern Europe; Middle East & Africa |
| By Players | Microturbine LLC; NewEnCo; Ansaldo Energia S.p.A; FlexEnergy; NewEnCo Ltd.; Elliot Company Inc.; Ingersoll-Rand Company |
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The micro turbines market is expected to register a CAGR of 10.8% from 2022 to 2032.
The commercial sector is a key driver in the microturbines market.
The North American region is anticipated to dominate the microturbines market during the forecast period.
The micro turbines market is likely to hold a valuation of US$ 188.30 million by 2032.
The current valuation of the microturbines market in 2022 is US$ 67.52 million.
1. Executive Summary | Microturbines Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and Their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter's Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2017 to 2021
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2022 to 2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2017 to 2021
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2022 to 2032
5.3.1. CHP Generation
5.3.2. Standby Power
5.4. Y-o-Y Growth Trend Analysis By Application, 2017 to 2021
5.5. Absolute $ Opportunity Analysis By Application, 2022 to 2032
6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use Industry
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End Use Industry, 2017 to 2021
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End Use Industry, 2022 to 2032
6.3.1. Industrial
6.3.2. Commercial
6.3.3. Residential
6.4. Y-o-Y Growth Trend Analysis By End Use Industry, 2017 to 2021
6.5. Absolute $ Opportunity Analysis By End Use Industry, 2022 to 2032
7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2017 to 2021
7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2022 to 2032
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. East Asia
7.3.5. South Asia & Pacific
7.3.6. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Application
8.2.3. By End Use Industry
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Application
8.3.3. By End Use Industry
8.4. Key Takeaways
9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
9.2.1. By Country
9.2.1.1. Mexico
9.2.1.2. Brazil
9.2.1.3. Rest of Latin America
9.2.2. By Application
9.2.3. By End Use Industry
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Application
9.3.3. By End Use Industry
9.4. Key Takeaways
10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. Italy
10.2.1.3. France
10.2.1.4. United Kingdom
10.2.1.5. Spain
10.2.1.6. BENELUX
10.2.1.7. Russia
10.2.1.8. Rest of Europe
10.2.2. By Application
10.2.3. By End Use Industry
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Application
10.3.3. By End Use Industry
10.4. Key Takeaways
11. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.2. By Application
11.2.3. By End Use Industry
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Application
11.3.3. By End Use Industry
11.4. Key Takeaways
12. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
12.2.1. By Country
12.2.1.1. India
12.2.1.2. ASEAN
12.2.1.3. Australia and New Zealand
12.2.1.4. Rest of South Asia & Pacific
12.2.2. By Application
12.2.3. By End Use Industry
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Application
12.3.3. By End Use Industry
12.4. Key Takeaways
13. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
13.2.1. By Country
13.2.1.1. GCC Countries
13.2.1.2. Turkey
13.2.1.3. South Africa
13.2.1.4. Rest of Middle East and Africa
13.2.2. By Application
13.2.3. By End Use Industry
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Application
13.3.3. By End Use Industry
13.4. Key Takeaways
14. Key Countries Market Analysis
14.1. USA
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2021
14.1.2.1. By Application
14.1.2.2. By End Use Industry
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2021
14.2.2.1. By Application
14.2.2.2. By End Use Industry
14.3. Mexico
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2021
14.3.2.1. By Application
14.3.2.2. By End Use Industry
14.4. Brazil
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2021
14.4.2.1. By Application
14.4.2.2. By End Use Industry
14.5. Germany
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2021
14.5.2.1. By Application
14.5.2.2. By End Use Industry
14.6. Italy
14.6.1. Pricing Analysis
14.6.2. Market Share Analysis, 2021
14.6.2.1. By Application
14.6.2.2. By End Use Industry
14.7. France
14.7.1. Pricing Analysis
14.7.2. Market Share Analysis, 2021
14.7.2.1. By Application
14.7.2.2. By End Use Industry
14.8. United Kingdom
14.8.1. Pricing Analysis
14.8.2. Market Share Analysis, 2021
14.8.2.1. By Application
14.8.2.2. By End Use Industry
14.9. Spain
14.9.1. Pricing Analysis
14.9.2. Market Share Analysis, 2021
14.9.2.1. By Application
14.9.2.2. By End Use Industry
14.10. BENELUX
14.10.1. Pricing Analysis
14.10.2. Market Share Analysis, 2021
14.10.2.1. By Application
14.10.2.2. By End Use Industry
14.11. Russia
14.11.1. Pricing Analysis
14.11.2. Market Share Analysis, 2021
14.11.2.1. By Application
14.11.2.2. By End Use Industry
14.12. China
14.12.1. Pricing Analysis
14.12.2. Market Share Analysis, 2021
14.12.2.1. By Application
14.12.2.2. By End Use Industry
14.13. Japan
14.13.1. Pricing Analysis
14.13.2. Market Share Analysis, 2021
14.13.2.1. By Application
14.13.2.2. By End Use Industry
14.14. South Korea
14.14.1. Pricing Analysis
14.14.2. Market Share Analysis, 2021
14.14.2.1. By Application
14.14.2.2. By End Use Industry
14.15. India
14.15.1. Pricing Analysis
14.15.2. Market Share Analysis, 2021
14.15.2.1. By Application
14.15.2.2. By End Use Industry
14.16. ASIAN
14.16.1. Pricing Analysis
14.16.2. Market Share Analysis, 2021
14.16.2.1. By Application
14.16.2.2. By End Use Industry
14.17. Australia and New Zealand
14.17.1. Pricing Analysis
14.17.2. Market Share Analysis, 2021
14.17.2.1. By Application
14.17.2.2. By End Use Industry
14.18. GCC Countries
14.18.1. Pricing Analysis
14.18.2. Market Share Analysis, 2021
14.18.2.1. By Application
14.18.2.2. By End Use Industry
14.19. Turkey
14.19.1. Pricing Analysis
14.19.2. Market Share Analysis, 2021
14.19.2.1. By Application
14.19.2.2. By End Use Industry
14.20. South Africa
14.20.1. Pricing Analysis
14.20.2. Market Share Analysis, 2021
14.20.2.1. By Application
14.20.2.2. By End Use Industry
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Application
15.3.3. By End Use Industry
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. Brayton Energy
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. Capstone Turbine Corporation
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. FlexEnergy
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Global Microturbine LLC
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. NewEnCo
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. Takuma Co Ltd
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. Bowman Power Group Ltd.
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. Geveke Power Systems
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. BPC Energy
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. Ansaldo Energia S.p.A
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
16.1.11. Elliott Co.
16.1.11.1. Overview
16.1.11.2. Product Portfolio
16.1.11.3. Profitability by Market Segments
16.1.11.4. Sales Footprint
16.1.11.5. Strategy Overview
16.1.11.5.1. Marketing Strategy
16.1.11.5.2. Product Strategy
16.1.11.5.3. Channel Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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Microturbines Market
