Global Micro Turbines Market Forecasts to 2022 - Market Growth at a CAGR of 9.46% - Research and Markets

The "Micro Turbines Market by Power Rating (12-50 kW, 50-250 kW, and 250-500 kW), Application (Combined Heat and Power and Standby Power), End-User (Industrial, Commercial, and Residential), and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.

The micro turbines market is estimated to be USD 159.7 million in 2017 and is projected to reach USD 251.0 million by 2022, growing at a CAGR of 9.46%, from 2017 to 2022.

The increasing demand for power worldwide, subsequent investments in new power generating capacity, and growing adoption of combined heat and power (CHP) is driving the market for micro turbines across the world.

The report provides a picture of the micro turbines market across the power industry and regions. It aims at estimating the size and future growth potential of the market across different segments such as architecture, stream, and region.

The industrial segment accounted for more than half of the micro turbines market in 2016. This can be attributed to increased operations in the construction, manufacturing, mining, oil & gas, automotive, and pharmaceuticals industries. The oil & gas sector is a vital industry for micro turbine applications as various commodity prices depend on the price of oil. Micro turbines also find application in the renewable energy industry, particularly in wastewater treatment plants where the environmentally harmful gas methane is used to generate electricity and heat, thereby, resulting in the production of clean energy.

North America is the largest market for micro turbines followed by Europe and Asia Pacific. The US accounted for a majority share of the North American market in 2016, while the Canadian market is projected to grow at the highest CAGR from 2017 to 2022. Aging power plants and frequent natural calamities have created enormous growth opportunities for the micro turbines market in this region. The shale gas boom in North America and decommissioning of nuclear plants in Europe are driving the micro turbines markets in those regions.

Drivers

  • Increasing Focus on the Generation of Clean Energy
  • Rising Demand for Energy

Restraints

  • Falling Oil & Gas Prices
  • Low Electrical Efficiency

Opportunities

  • Replacement of Phased-Out Nuclear & Coal Plants
  • Increase in Distributed Power Generation Capacity

Challenges

  • Electrical Grid Modernization & Network Upgradation
  • Competition From Existing Distributed Power Generation Technologies

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Premium Insights

5. Market Overview

6. Micro Turbines Market, By Power Rating

7. Micro Turbines Market, By Application

8. Micro Turbines Market, By End-User

9. Micro Turbines Market, By Region

10. Competitive Landscape

11. Company Profiles

  • Ansaldo Energia
  • Capstone Turbine
  • Brayton Energy
  • Bladon Jets
  • Flexenergy
  • Eneftech Innovation
  • Aurelia
  • Icrtec
  • MTT
  • Toyota Turbine and Systems
  • 247solar
  • Bowman
  • Turbotech

For more information about this report visit https://www.researchandmarkets.com/research/54zdns/micro_turbines