The global micro turbine market is expected
to reach USD 339.7 million by 2024, according to a new report by Grand View
Research, Inc. Micro turbines have been gaining advantage globally on account
of their compact size and high-efficiency levels.
The technology is an ideal
solution for generating clean energy in the environment. Cost effectiveness
coupled with waste fuel utilization have been the major factors driving the
global Micro Turbine Market.
Changing grid operations are
anticipated to establish as key industry opportunity for the product
development. Increasing potential for greener energy solution is also expected
to further augment industry revenue in over the forecast period. Growing
investment initiatives to develop new generating capacity coupled with
stringent environmental regulatory framework is anticipated to further enhance
overall market growth in near future.
Combined heat & power was the
leading application segment and accounted for over 55% of total market revenue
in 2015. Increasing initiatives to reduce global warming levels and
installation of CHP is expected to drive this segment over the forecast period.
Browse full research report on Global
Micro Turbine Market: http://www.grandviewresearch.com/industry-analysis/microturbines-market
Further key findings from
the report suggest:
- 50 kW-250 kW emerged as the leading power rating sector and is anticipated to witness high demand in hybrid electric vehicle manufacturing. The segment accounted for 38.3% of total market revenue in 2015. It is also expected to witness the highest growth of 11.1% over the forecast period.
- Industrial was the leading end-user and accounted for over 50% of total market revenue in 2015. Micro turbines find application in construction, oil & gas, mining, waste water treatment and pharmaceutical industries. Expanding product application in waste water treatment is expected to establish as growth opportunity for this segment.
- North America was the leading regional market and accounted for 37.7% of global revenue in 2015. Shale gas boom in the region is expected to significantly contribute towards industry enhancement in the near future. Nuclear plants decommission coupled with strict environmental regulations are anticipated to augment European market over the forecast period.
- Major companies include Bladon Jets, Capstone Turbine Corporation, Microturbine Technology BV, Calnetix Technologies LLC., ICR Turbine Engine Corporation, Eneftech Innovation SA, Brayton Energy LLC, Toyota Motor Corporation, Flexenergy, Inc, Ansaldo Energia S.P.A., NewEnCo. and Wilson Solarpower Corporation.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/power-generation-and-storage
Grand View Research has segmented the micro turbine market
on the basis of application, power rating, end-use and region:
Global Micro Turbine Application Outlook (Revenue, USD
Million, 2014 - 2026)
- Combined Heat & Power (CHP)
- Standby Power
Global Micro Turbine Power Rating Outlook (Revenue,
USD Million, 2014 - 2026)
- 12 kW -50 kW
- 50 kW-250 kW
- 250 kW-500 kW
Global Micro Turbine End-Use Outlook (Revenue, USD
Million, 2014 - 2026)
- Industrial
- Commercial
- Residential
Global Micro Turbine Regional Outlook (Revenue, USD
Million, 2014 - 2026)
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- UK
- Russia
- Asia Pacific
- Australia
- China
- Malaysia
- Central & South America
- Brazil
- Colombia
- Middle East and Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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