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 Micro Turbine Market: https://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: https://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.
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