Global Microturbine Market 2016-2020
A microturbine is a small combustion turbine whose output ranges between 25 kW and 500 kW. It can produce both heat and electricity but on a small scale compared to a normal turbine. The technology is relatively new in the distributed generation industry. Microturbines are primarily used in stationary power generation applications. R&D is going on to accommodate the technology in the transportation industry as well. Trials are being carried out for using microturbines in roadways and marine transportation. However, the widespread adoption of the technology in roadways and marine transportation is expected to happen toward the end of the forecast period.
Technavio’s analysts forecast the global microturbine market to grow at a CAGR of 21.32% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global microturbine market for 2016-2020. To calculate the market size, the report considers the revenue generated by the demand for microturbines for its application by end-users in each region and their corresponding key countries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Microturbine Market 2016-2020
Technavio recognizes the following companies as the key players in the global microturbine market: Ansaldo Energia, Bladon Jets, Capstone Turbine, and FlexEnergy.
Other Prominent Vendors in the market are: Micro Turbine Tech BV, Wilson Solarpower, and MME.
Commenting on the report, an analyst from Technavio’s team said: “One of the key trends for market growth will be mixed impact of government policies and subsidies on microturbine market in the US. The US is quite a peculiar market and one of the most important ones for microturbines. Under the ITC Scheme, microturbines are eligible for a credit equal to 10% of expenditures, with the capping at $200 per kW of capacity. However, the ITC Scheme for certain clean technologies, namely CHP, microturbines, and fuel cells, is expiring in December 2016. Talks for extension of ITC Scheme for another five years,”
According to the report, one of the key drivers for market growth will be rise in adoption of distributed generation capacity propelling microturbines. Power generation, across countries in the world, is moving from centralized to integrated networks with increased reliance on distributed power generation systems. Distributed power technologies are less than 100 MW in size, with the standard being less than 50 MW, which is the limit that distribution systems can accommodate at distribution voltages. Distributed power technologies are characterized by high flexibility and are suited for a wide range of applications such as electric power, propulsion, and mechanical power. Distributed power technologies can operate in the stand-alone mode as well as work in an integrated system catering to the need of both large and small energy users.
Further, the report states that microturbine is a relatively new technology compared with its gas engine counterparts. The target customers of microturbines market would already have a source of energy. This makes companies reluctant to try out a new technology. Moreover, the initial switchover cost poses a hurdle to companies adopting a new product. Although the overall operating costs might be similar or even lesser for microturbines, the perceived high capital costs (for installation and commissioning) pose a challenge for the microturbine vendors. Due to limited years of presence in the market, customers are wary about the safety, maintenance, and repair cost associated with microturbines.
Ansaldo Energia, Bladon Jets, Capstone Turbine, FlexEnergy, Micro Turbine Tech BV, Wilson Solarpower, MME.
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