Global Micro Turbine Market is valued at USD 210.4 Million in 2021 and expected to reach USD 311.5 Million by 2028 with a CAGR of 10.3% over the forecast period.
Micro Turbines (MT) are tiny and relatively new distributed generation technology which can generate both heat and electricity. The electrical power output can vary from few kW to 500 kW along with steam generation. The micro turbines are also called distributed generators as they supply power at distribution level of grid which requires solid state interface as high rotational speed of about 40,000 rev/min- 120,000 rev/min. of turbine leads to high frequency which need to brought down to 50Hz to 60Hz to synchronize with grid. Micro turbines are derived from aircraft auxiliary power system & diesel engine turbo chargers which convert thermal energy to mechanical energy. It consists of combustor, compressor, turbine and generator packaged in a single unit for rapid installation & provide continuous operation to obtain higher electrical efficiency with low emission. The MT provides several advantages compared to other technologies for small scale power generation such as few moving parts, light weight, compact size, low emission & cost, high efficiency of more than 80% by using heat recovery. The MT can be used as standby power, peak saving, quality power, distributed generation, These turbines are very helpful to produce electricity for small segment which can’t install huge personal generators such as farm, hospital, schools and etc. in remote locations.
During covid-19 Pandemic, the governments around the world imposed movement restriction to control the spread of virus which resulted in reduced demand & price of crude oil. The reduced oil prices & government imposed lockdown globally led to decrease the demand for micro turbine, the demand for electricity also witnessed huge dip due to the industries & institutions were not allowed to operate. The Covid-19’s reducing impact will ease the restriction & the micro turbine market is expected to grow at fast due to need of clean & reliable power source which in turn will reduce load on power grid.
Global Micro Turbine Market Report is segmented on the basis of application, power rating, end-user and region & country level. Based upon application, global micro turbine market is classified into combined heat & power (CHP) and standby power. Based upon power rating, the market is divided into 12 kW–50 kW, 50 kW–250 kW and 250 kW–500 kW. Based upon end-user, global micro turbine market is divided into industrial, commercial and residential.
Capstone Launched New Microturbine
April 24th, 2017; Capstone Turbine Corp. expanded its Signature Series line of microturbines with the launch of the Capstone C200S microturbine. The 200 kW C200S microturbine incorporates numerous system and design upgrades intended to improve overall product quality, reliability and performance, the company said. The new product is especially suited to combined heat and power (CHP) and combined cooling, heat and power (CCHP) applications.
The major factor driving the growth of global micro turbine market is increasing demand of clean power. The increased focus on clean environment has led focus on non polluting sources of energy due to climate change agreement around the globe such as crude oil, natural gas and etc. emit high amount of green house gases. In addition, growing need for energy resources is also supplementing the market growth. The small power generation capacity can help certain area in hospital, schools, farms, etc. in addition, it is a reliable personal power source which can supply power when needed will bring down the load of the grid. However, the high cost of micro turbine & lowering oil demand & cost due to increased EV or others may hinder the market growth. In spite of that, growing awareness about environment pollution may provide an opportunity for the further growth of this market.
The global micro turbine market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the global micro turbine market within the forecast period due to its in-house micro turbine manufacturers with developed infrastructure. In addition, the dependence on the micro turbine will increase due to the growing awareness & ineffective use of solar panel as region don’t get sun most of the time.
Europe is anticipated to capture the significant share of this market due to its geographical location which limits the use of solar energy, and low hydro generation in this region. In addition, the region is front runner in the clean environment agreement & hence shows promising growth. Asia pacific is expected to grow at a faster pace due to increasing urbanization & technology penetration in this region.
Middle East and Africa
|2018 - 2021
|2022 - 2028
|Market Size in 2021:
|USD 210.4 Million
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 311.5 Million
|Tables, Charts & Figures:
|Capstone Turbine, Ansaldo Energia, UAV Turbines, Toyota Turbine and Systems, MTT Microturbine, Bowman, Bladon Jets, Dresser-Rand, Brayton Energy, FlexEnergy, Eneftech Innovation, Aurelia, ICR Turbine Engine Corporation, MIT, Turbo Tech, 247Solar and others
|By Power Rating, By Application, By End-User
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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