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.
For Full Research Report On Micro Turbine Market Visit Here:
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.
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/microturbines-market/request/rs1
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 - 2024)
- Combined Heat & Power
(CHP)
- Standby Power
Global Micro
Turbine Power Rating Outlook (Revenue, USD Million, 2014 - 2024)
- 12 kW -50 kW
- 50 kW-250 kW
- 250 kW-500 kW
Global Micro
Turbine End-Use Outlook (Revenue, USD Million, 2014 - 2024)
- Industrial
- Commercial
- Residential
Global Micro
Turbine Regional Outlook (Revenue, USD Million, 2014 - 2024)
- 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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