Micro turbines are increasingly being used as a distributed energy generation source these days, owing to increasing demand of clean energy, aging grid infrastructure, and easy fuel availability. The focus on green energy generation along with producing heat for industrial & commercial or residential activities, along with increasing demand of cogeneration application is anticipated to shift trends towards micro turbines. With the growing environmental concerns for global warming, due to burning of fossil fuels, cogeneration application is expected to dominate the micro turbine market during the forecast period.
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The key players of the global micro turbine market are Capstone Turbine Corporation (U.S.), FlexEnergy, Inc. (U.S.), Ansaldo Energia S.p.A (Italy), and Brayton Energy LLC. (U.S.), Eneftech Innovation SA (Switzerland), Microturbine Technology BV (the Netherlands), Wilson Solarpower Corporation (U.S.), ICR Turbine Engine Corporation (U.S.), Calnetix Technologies LLC (U.S.), Toyota Motor Corporation (Japan), and Bladon Jets (Isle of Man) among others.
Microturbines are generally used for the power generation solution due to its compact size, light weight, and higher efficiency. The use of micro turbines results in the lower electricity cost which increases the demand for the end-use industry. Micro turbines are small combustion turbines with outputs ranging from 12 kW to 500 kW. The increase in the demand for the energy is expected to increase the growth of micro turbine market.
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The global microturbine market has been segmented on the basis of application, end use, power rating, and lastly region. The application-based segmentation segments this market into cogeneration and standby power. Cogeneration is defined as the generation of electricity and useful heat jointly. Standby power is the power consumed by an appliance or device when the device is not in use but is ready to be put into use. Based on end use, the market has been segmented into commercial, industrial, and residential. By power rating, the market has been segmented into 12 KW-50kW, 50kW-250kW, and 250kW-500kW.
The regional segmentation of the global microturbine market segments the market into continents-based regional markets that are North America, Europe, Asia Pacific, and the rest of the world (RoW). The biggest regional market for microturbine is North America, due to growing awareness of carbon footprint and increased consumption of energy in the region. In this region, the biggest country-specific market in this region is the United States of America (USA). The market in the USA is growing due to increased demand for alternative energy sources and possibility of more coal and nuclear power plants to be decommissioned coupled with stringent environmental regulations. After the USA, Canada is the most important market in this region.
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