The Micro Turbines market size will grow from USD 159.6 Million in 2017 to USD 275.3 Million by 2023, at an estimated CAGR of 9.51%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
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The growing demand for clean energy, accompanied by aging grid infrastructure, has led to the growth of the micro turbines market. The burning of conventional energy sources such as petroleum and coal has been identified as the major cause of global warming. The use of micro turbines releases very little emissions as compared to fossil fuels in terms of the concentrations of sulfur oxide and nitrogen oxide. Government initiatives for greener solutions, investments by financial institutions, growing demand for reliable power, and easy availability of fuel are driving the growth of the global micro turbines market during the forecast period. The CHP application is the fastest growing market for micro turbines. However, the demand for standby power is also increasing rapidly. Based on end-user, the micro turbines market has been categorized into industrial, commercial, and residential.The industrial segment includes the oil & gas, information and communications, and construction sectors. The micro turbines market, by power rating, has been categorized into 12–50 kW, 50–250 kW, and 250–500 kW.
By Market Players:
Ansaldo Energia , Capstone Turbine , Brayton Energy , Bladon Jets , Flexenergy , Eneftech Innovation , Aurelia , Icrtec , MTT , Toyota Turbine and Systems , 247solar , Bowman , Turbotech,
By Power Rating
12–50 kW , 50–250 kW , 250–500 kW, ,
Combined Heat & Power , Standby Power,
Industrial , Commercial , Residential,
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Points Covered in The Report:
The points that are discussed within the report are the major market players that are involved in the market such as manufacturers, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
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