Research Reports
Micro Turbine Market worth $ 404.88 Million by 2027 with a CAGR of 9.46%
Published by Wanda Rich
Posted on September 6, 2021
Global Banking and Finance Review
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Published by Wanda Rich
Posted on September 6, 2021
Micro Turbine Market is valued at USD 163.97 Million in 2017 and expected to reach USD 404.88 Million by 2027 with a CAGR of 9.46% over the forecast period.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Some major key players for Global Micro Turbine Market are Capstone Turbine Corporation, Micro Turbine Technology, Bladon Micro Turbine, Aurelia, GE Power, Siemens Energy, Centrax Gas Turbines, Bowman Power Systems, Calnetix Technologies, Ansaldo Turbec and others.
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Micro Turbine is a small combustion turbine which produces electricity and heat on a small scale. These turbines are generally used for stationary energy generation. They are considered to be the size of refrigerator with output ranges from 25-500kW. Micro Turbines generally comprises of combustor, compressor, turbine, recuperator, alternator and generator. They also offer advantages like: compact size, less moving parts, lightweight, low emissions, high efficiency, low power costs and ability to utilize waste fuels which includes Natural Gas, Hydrogen, Diesel and Propane. Due to small and compact size, they are utilized in wide variety of applications where low cost energy, on-site power applications, cogeneration and distributed generation are required. The Micro Turbines also provide low capital & maintenance cost, low operations and automatic control has significantly contributed in power generation market.
During this COVID-19 pandemic, some industries have positive impact and some are struggling. As the micro turbines are sustainable energy providers they are positively impacted by this pandemic, due to the growing demand of clean energy and minimum carbon footprint across the globe. Also new corona virus (COVID-19) relief bill was signed into law which will provide tax benefits to various green and clean energy industries.
Global Micro Turbine Market report is segmented on the basis of types, applications and region & country level. Based upon types, global Micro Turbine market is classified into Unrecuperated Micro Turbines and Recuperated Micro Turbines. Based upon the application, global Micro Turbine market is classified into Cogeneration applications, Gas applications and Small commercial applications.
The regions covered in this Global Micro Turbine Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Micro Turbine is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia, Africa, etc.
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Increasing demand of Clean and Green Energy is a key driving factor for the growth of Micro Turbine Market
The major factors driving the growth of global Micro Turbine market is rising in demand of clean energy around the world. In order to utilize the waste fuels and other factors like low emissions, high energy security and low costs are the great drivers for Micro Turbine Market. According to International Renewable Energy Agency (IRENA), there was an increase in 6.1% of renewable generation in 2018 compared to 2017. Furthermore, rising population led to the increase in urbanization and industrialization which in turn created the demand for electricity which is expected to enhance the market growth. However, fluctuations in fuel prices as well as low electrical efficiency is expected to hamper the market. On the other hand, increasing demand for distributed power generation along with replacement of phased out coal plant is expected to create ample opportunities in the Micro Turbine Market.
North America is expected to dominate the global Micro Turbine market within the forecast period attributed to rising investments in different renewable and clean energy projects. The U.S. continues to top in Micro Turbine technology as it was invented in this country. The federal ITC is expanding U.S. hiring and manufacturing base by investing more in R&D for energy sector. They also aim to remain competitive in global energy businesses and helping other different local sectors in this region. Europe is expected to closely follow north America in terms of market share owing to the stringent environment policies along with high awareness among people towards green energy. Asia Pacific is expected to develop at a significant rate owing to the high adoption of technology along with rising energy demand in the region. Furthermore, rising inclination towards green energy and supportive government initiatives is further expected to accelerate the growth of Micro Turbine market.
By Type:
By Application:
By Regional & Country Level:
Get Full Report: @ https://brandessenceresearch.com/aviation/micro-turbine-market-size
About us: Brandessence Market Research and Consulting Pvt. Ltd.
Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals, and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations, and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London.
Contact us at: +44-2038074155 or mail us at[email protected]
Micro Turbine Market is valued at USD 163.97 Million in 2017 and expected to reach USD 404.88 Million by 2027 with a CAGR of 9.46% over the forecast period.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Some major key players for Global Micro Turbine Market are Capstone Turbine Corporation, Micro Turbine Technology, Bladon Micro Turbine, Aurelia, GE Power, Siemens Energy, Centrax Gas Turbines, Bowman Power Systems, Calnetix Technologies, Ansaldo Turbec and others.
Get Premium Sample of the Report:https://brandessenceresearch.com/requestSample/PostId/1481
Micro Turbine is a small combustion turbine which produces electricity and heat on a small scale. These turbines are generally used for stationary energy generation. They are considered to be the size of refrigerator with output ranges from 25-500kW. Micro Turbines generally comprises of combustor, compressor, turbine, recuperator, alternator and generator. They also offer advantages like: compact size, less moving parts, lightweight, low emissions, high efficiency, low power costs and ability to utilize waste fuels which includes Natural Gas, Hydrogen, Diesel and Propane. Due to small and compact size, they are utilized in wide variety of applications where low cost energy, on-site power applications, cogeneration and distributed generation are required. The Micro Turbines also provide low capital & maintenance cost, low operations and automatic control has significantly contributed in power generation market.
During this COVID-19 pandemic, some industries have positive impact and some are struggling. As the micro turbines are sustainable energy providers they are positively impacted by this pandemic, due to the growing demand of clean energy and minimum carbon footprint across the globe. Also new corona virus (COVID-19) relief bill was signed into law which will provide tax benefits to various green and clean energy industries.
Global Micro Turbine Market report is segmented on the basis of types, applications and region & country level. Based upon types, global Micro Turbine market is classified into Unrecuperated Micro Turbines and Recuperated Micro Turbines. Based upon the application, global Micro Turbine market is classified into Cogeneration applications, Gas applications and Small commercial applications.
The regions covered in this Global Micro Turbine Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Micro Turbine is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia, Africa, etc.
Request Customization of the Report:https://brandessenceresearch.com/requestMethodology/PostId/1481
Increasing demand of Clean and Green Energy is a key driving factor for the growth of Micro Turbine Market
The major factors driving the growth of global Micro Turbine market is rising in demand of clean energy around the world. In order to utilize the waste fuels and other factors like low emissions, high energy security and low costs are the great drivers for Micro Turbine Market. According to International Renewable Energy Agency (IRENA), there was an increase in 6.1% of renewable generation in 2018 compared to 2017. Furthermore, rising population led to the increase in urbanization and industrialization which in turn created the demand for electricity which is expected to enhance the market growth. However, fluctuations in fuel prices as well as low electrical efficiency is expected to hamper the market. On the other hand, increasing demand for distributed power generation along with replacement of phased out coal plant is expected to create ample opportunities in the Micro Turbine Market.
North America is expected to dominate the global Micro Turbine market within the forecast period attributed to rising investments in different renewable and clean energy projects. The U.S. continues to top in Micro Turbine technology as it was invented in this country. The federal ITC is expanding U.S. hiring and manufacturing base by investing more in R&D for energy sector. They also aim to remain competitive in global energy businesses and helping other different local sectors in this region. Europe is expected to closely follow north America in terms of market share owing to the stringent environment policies along with high awareness among people towards green energy. Asia Pacific is expected to develop at a significant rate owing to the high adoption of technology along with rising energy demand in the region. Furthermore, rising inclination towards green energy and supportive government initiatives is further expected to accelerate the growth of Micro Turbine market.
By Type:
By Application:
By Regional & Country Level:
Get Full Report: @ https://brandessenceresearch.com/aviation/micro-turbine-market-size
About us: Brandessence Market Research and Consulting Pvt. Ltd.
Brandessence market research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals, and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations, and Ph.D. Students. We have a delivery center in Pune, India and our sales office is in London.
Contact us at: +44-2038074155 or mail us at[email protected]