The micro
turbines market is expected to grow from an estimated USD 159.7 Million in
2017 to USD 251.0 Million by 2022, at a CAGR of 9.46%, during the forecast
period. The market is set to grow due to increasing efforts to reduce global
greenhouse gas emissions, growing adoption of combined heat and power (CHP),
and increasing demand for clean energy worldwide.
Browse 70 Market Data Tables and 36 Figures spread
through 132 Pages and in-depth TOC on "Micro Turbines Market”
The combined heat and power
segment is expected to hold the largest share of the micro turbines market, by
application, during the forecast period.
Micro turbines find application mainly in CHP plants. The
global market, in terms of value, for micro turbines used in CHP-based
applications was the highest and it accounted for a major share of the total
market. Cogeneration or CHP is highly efficient and can achieve primary energy
savings of nearly 40%. Moreover, they are installed close to the end-user,
which helps in reducing T&D losses. They also have lower total emissions
since the exhaust is utilized for other operational purposes. Thus, CHP application
segment leads the micro turbines market.
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The 50–250 kW power rating
segment is expected to be the largest segment of the micro turbines market in
2017
The report segments the micro turbines market, on the
basis of rated capacity, into 12–50 kW, 50–250 kW, and 250–500 kW. The 50–250
kW micro turbines have been widely accepted in the past few years. Capstone
Turbine, Ansaldo, and FlexEnergy are the major providers of these micro
turbines in the global market. The market for the 50–250 kW rated micro
turbines will be driven by the many upcoming CHP-based power plants in Asia
Pacific and North America. The replacement of old coal-fired power generation
capacity in the US with new large capacity gas-fired power plants will also
boost the market.
North America: Expected to be
the leading market for micro turbines during the forecast period.
In this report, the micro turbines market has been
analyzed with respect to 4 regions, namely, North America, Europe, Asia
Pacific, and the rest of the world. The market in North America is expected to
continue leading the market. Urbanization, industrialization, and fast economic
growth have led to an increase in the demand for electric power. To meet
this growing demand aging infrastructure is being replaced with new power
plants, especially gas-fired ones, which use micro turbines.
Objectives of the study:
·
To define, describe, and forecast the micro
turbines market by power rating, application, end-user, and region
·
To provide detailed information regarding the
major factors influencing the growth of the micro turbines market (drivers,
restraints, opportunities, and industry-specific challenges)
·
To strategically analyze the micro turbines
market with respect to individual growth trends, future prospects, and the
contribution of each segment to the market
·
To track and analyze competitive developments,
such as contracts & agreements, new product launches, expansions and
investments, and partnerships and collaborations in the micro turbines market
·
To strategically profile the key players and
comprehensively analyze their market shares and core competencies
To enable an in-depth understanding of the competitive
landscape, the report includes the profiles of some of the top players in the micro
turbines market. These include Capstone Turbine (US), FlexEnergy (US),
Ansaldo Energia (Italy), MTT (Netherlands), and Toyota Turbine and Systems
(Japan). The leading players are trying to understand the markets in developing
economies and are adopting various strategies to increase their market shares.
