According to Stratistics MRC, the Global Micro Turbine market is accounted for $141.0 million in 2015 and is expected to reach $320.6 million by 2022 growing at a CAGR of 12.45%. Supportive government regulations towards reduction of green house gas emissions, technological advancements and rising applications of micro turbine are some of the factors fueling the market. Urbanisation and industrialisation are expected to provide opportunities to the market. Competition from other technologies will be one of the key challenges to the market growth.
North America accounted for the largest share in the regional market with U.S as a key player. The growth is attributed to repeated natural calamities and aging power plants. Europe region is expected to register the highest CAGR during the forecast period. Combined Heat & Power segment accounted for the largest share in the market during the forecast period. Standby power segment accounted for the largest share in the market.
Some of the key players in Micro Turbine market include ICR Turbine Engine Corporation, Toyota Motor Corporation, Wilson Solarpower Corporation, NewEnCo., AnsaldoEnergia S.P.A, Calnetix Technologies LLC., Elliot Company Inc., Bowman Power Group Ltd., Micro Turbine Technology BV, Capstone Turbine Corporation, Brayton Energy, LLC, FlexEnergy, Inc., Global Microturbine LLC, Bladon Jets and Eneftech Innovation SA. End Users Covered: Commercial Residential Industrial
Power Rating Covered: 50 kW to 250 kW 12 kW to 50 kW 250 kW to 500 kW
Applications Covered: Stand By Power Combined Heat & Power
Regions Covered: North America US Canada Mexico Europe Germany France Italy UK Spain Rest of Europe Asia Pacific Japan China India Australia New Zealand Rest of Asia Pacific Rest of the World Middle East Brazil Argentina South Africa Egypt
What our report offers: Market share assessments for the regional and country level segments Market share analysis of the top industry players Strategic recommendations for the new entrants Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations) Strategic recommendations in key business segments based on the market estimations Competitive landscaping mapping the key common trends Company profiling with detailed strategies, financials, and recent developments Supply chain trends mapping the latest technological advancements