Micro Turbines Market by Power Rating (12–50 kW, 50–250 kW, and 250–500 kW), Application (Combined Heat and Power and Standby Power), End-User (Industrial, Commercial, and Residential), and Region - Global Forecast to 2022

  • ID: 4425677
  • Report
  • Region: Global
  • 134 Pages
  • Markets and Markets
1 of 5
The Micro Turbines Market is Projected to Grow at a CAGR of 9.46%, from 2017 to 2022, to Reach a Market size of USD 251.0 Million

FEATURED COMPANIES

  • 247solar
  • Aurelia
  • Bowman
  • Capstone Turbine
  • Flexenergy
  • MTT
  • MORE

The micro turbines market is estimated to be USD 159.7 million in 2017 and is projected to reach USD 251.0 million by 2022, growing at a CAGR of 9.46%, from 2017 to 2022. The increasing demand for power worldwide, subsequent investments in new power generating capacity, and growing adoption of combined heat and power (CHP) is driving the market for micro turbines across the world.

The industrial segment accounted for more than half of the micro turbines market in 2016. This can be attributed to increased operations in the construction, manufacturing, mining, oil & gas, automotive, and pharmaceuticals industries. The oil & gas sector is a vital industry for micro turbine applications as various commodity prices depend on the price of oil. Micro turbines also find application in the renewable energy industry, particularly in wastewater treatment plants where the environmentally harmful gas methane is used to generate electricity and heat, thereby, resulting in the production of clean energy.  

North America is the largest market for micro turbines followed by Europe and Asia Pacific. The US accounted for a majority share of the North American market in 2016, while the Canadian market is projected to grow at the highest CAGR from 2017 to 2022. Aging power plants and frequent natural calamities have created enormous growth opportunities for the micro turbines market in this region. The shale gas boom in North America and decommissioning of nuclear plants in Europe are driving the micro turbines markets in those regions.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.

The Distribution of Primary Interviews is as Follows:

  • By Company Type: Tier 1- 62%, Tier 2- 23%, Tier 3- 15%
  • By Designation: C-Level- 25%, D-Level- 35%, Others- 40%
  • By Region: North America- 29%, Europe- 18%, Asia Pacific- 42%, RoW- 11%

Note: The tier of the companies has been defined on the basis of their total revenue; as of 2016: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 = <USD 1 billion

The leading players in the micro turbines market include Capstone Turbine (US), FlexEnergy (US), Ansaldo Energia (Italy), MTT (Netherlands), and Toyota Turbine and Systems (Japan).

Research Coverage:

The report provides a picture of the micro turbines market across the power industry and regions. It aims at estimating the size and future growth potential of the market across different segments such as architecture, stream, and region. Furthermore, the report also includes an in-depth competitive analysis of key players in the market along with their company profiles, recent developments, and key market strategies.

For the purposes of this report, the market has been segmented on the basis of application, end-user, power rating, and region, with a focus on industry analysis (industry trends), market share analyses of the top players, supply chain analysis, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the micro turbines market, high-growth regions, and market drivers, restraints, and opportunities.

The Report Provides Insights on the Following Pointers:

  • Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the micro turbines market
  • Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the micro turbines market across regions
  • Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global micro turbines market

Why Buy this Report?

1. The report identifies and addresses key markets for implementation of micro turbines in the power industry, which would help manufacturers review the growth in demand.
2. The report helps solutions providers understand the pulse of the market and provides insights into drivers, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.

READ MORE
Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • 247solar
  • Aurelia
  • Bowman
  • Capstone Turbine
  • Flexenergy
  • MTT
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Markets Covered
1.3.1 Regional Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Introduction
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Down Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions
2.4.1 Assumptions of the Research Study

3 Executive Summary

4 Premium Insights
4.1 Micro Turbine Market Overview
4.2 North American Micro Turbines Market Size, By Application & By Country
4.3 Micro Turbines Market, By Country
4.4 Micro Turbines Market, By Power Rating
4.5 Micro Turbines Market, By Application
4.6 Micro Turbines Market, By End-User

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Focus on the Generation of Clean Energy
5.2.1.2 Rising Demand for Energy
5.2.2 Restraints
5.2.2.1 Falling Oil & Gas Prices
5.2.2.2 Low Electrical Efficiency
5.2.3 Opportunities
5.2.3.1 Replacement of Phased-Out Nuclear & Coal Plants
5.2.3.2 Increase in Distributed Power Generation Capacity
5.2.4 Challenges
5.2.4.1 Electrical Grid Modernization & Network Upgradation
5.2.4.2 Competition From Existing Distributed Power Generation Technologies

6 Micro Turbines Market, By Power Rating
6.1 Introduction
6.2 12-50 kW
6.3 50-250 kW
6.4 250-500 kW

7 Micro Turbines Market, By Application
7.1 Introduction
7.2 Combined Heat & Power
7.3 Standby Power

8 Micro Turbines Market, By End-User
8.1 Introduction
8.2 Industrial
8.3 Commercial
8.4 Residential

9 Micro Turbines Market, By Region
9.1 Introduction
9.2 North America
9.2.1 By Power Rating
9.2.2 By End-User
9.2.3 By Application
9.2.4 By Country
9.2.4.1 US
9.2.4.2 Canada
9.3 Europe
9.3.1 By Power Rating
9.3.2 By End-User
9.3.3 By Application
9.3.4 By Country
9.3.4.1 Russia
9.3.4.2 UK
9.3.4.3 Germany
9.3.4.4 Rest of Europe
9.4 Asia Pacific
9.4.1 By Power Rating
9.4.2 By End-User
9.4.3 By Application
9.4.4 By Country
9.4.4.1 Australia
9.4.4.2 China
9.4.4.3 Malaysia
9.4.4.4 Rest of Asia Pacific
9.5 Rest of the World
9.5.1 By Power Rating
9.5.2 By End-User
9.5.3 By Application
9.5.4 By Country
9.5.4.1 Mexico
9.5.4.2 Brazil
9.5.4.3 Colombia
9.5.4.4 Others

10 Competitive Landscape
10.1 Introduction
10.1.1 Key Company Focus Areas
10.2 Market Ranking Analysis
10.2.1 Global Market Scenario
10.3 Competitive Situations & Trends
10.3.1 Contracts & Agreements
10.3.2 Partnerships, Collaborations, Alliances, & Joint Ventures
10.3.3 New Product Developments
10.3.4 Investments & Expansions
10.3.5 Mergers & Acquisitions

11 Company Profiles
(Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, MnM View)*
11.1 Ansaldo Energia
11.2 Capstone Turbine
11.3 Brayton Energy
11.4 Bladon Jets
11.5 Flexenergy
11.6 Eneftech Innovation
11.7 Aurelia
11.8 Icrtec
11.9 MTT
11.10 Toyota Turbine and Systems
11.11 247solar
11.12 Bowman
11.13 Turbotech

12 Appendix
12.1 Insights of Industry Experts
12.2 Discussion Guide

List of Tables

Table 1 Micro Turbines Market Snapshot
Table 2 Micro Turbines Market Size, By Power Rating, 2015-2022 (USD Million)
Table 3 12-50 kW: Micro Turbines Market Size, By Region, 2015-2022 (USD Million)
Table 4 50-250 kW: Micro Turbines Market Size, By Region, 2015-2022 (USD Million)
Table 5 250-500 kW: Micro Turbines Market Size, By Region, 2015-2022 (USD Million)
Table 6 Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 7 Combined Heat & Power: Micro Turbines Market Size, By Region, 2015-2022 (USD Million)
Table 8 Standby Power: Micro Turbines Market Size, By Region, 2015-2022 (USD Million)
Table 9 Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 10 Industrial: Micro Turbines Market Size, By Region, 2015-2022 (USD Million)
Table 11 Commercial: Micro Turbines Market Size, By Region, 2015-2022 (USD Million)
Table 12 Residential: Micro Turbines Market Size, By Region, 2015-2022 (USD Million)
Table 13 Micro Turbines Market Size, By Region, 2015-2022 (USD Million)
Table 14 North America: Micro Turbines Market Size, By Power Rating, 2015-2022 (USD Million)
Table 15 North America: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 16 North America: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 17 North America: Combined Heat & Power Micro Turbines Market Size, By Country, 2015-2022 (USD Million)
Table 18 North America: Standyby Power Micro Turbines Market Size, By Country, 2015-2022 (USD Million)
Table 19 North America: Micro Turbines Market Size, By Country, 2015-2022 (USD Million)
Table 20 US: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 21 US: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 22 Canada: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 23 Canada: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 24 Europe: Micro Turbines Market Size, By Power Rating, 2015-2022 (USD Million)
Table 25 Europe: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 26 Europe: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 27 Europe: Combined Heat & Power Micro Turbines Market Size, By Country, 2015-2022 (USD Million)
Table 28 Europe: Standby Power Micro Turbines Market Size, By Country, 2015-2022 (USD Million)
Table 29 Europe: Micro Turbines Market Size, By Country, 2015-2022 (USD Million)
Table 30 Russia: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 31 Russia: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 32 UK: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 33 UK: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 34 Germany: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 35 Germany: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 36 Rest of Europe: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 37 Rest of Europe: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 38 Asia Pacific: Micro Turbines Market Size, By Power Rating, 2015-2022 (USD Million)
Table 39 Asia Pacific: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 40 Asia Pacific: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 41 Asia Pacific: Combined Heat & Power Micro Turbines Market, By Country, 2015-2022 (USD Million)
Table 42 Asia Pacific: Standby Power Micro Turbines Market, By Country, 2015-2022 (USD Million)
Table 43 Asia Pacific: Micro Turbines Market, By Country, 2015-2022 (USD Million)
Table 44 Australia: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 45 Australia: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 46 China: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 47 China: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 48 Malaysia: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 49 Malaysia: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 50 Rest of Asia Pacific: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 51 Rest of Asia Pacific: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 52 Rest of the World: Micro Turbines Market Size, By Power Rating, 2015-2022 (USD Million)
Table 53 Rest of the World: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 54 Rest of the World: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 55 Rest of the World: Combined Heat & Power Micro Turbines Market Size, By Country, 2015-2022 (USD Million)
Table 56 Rest of the World: Standby Power Micro Turbines Market Size, By Country, 2015-2022 (USD Million)
Table 57 Rest of the World: Micro Turbines Market Size, By Country, 2015-2022 (USD Million)
Table 58 Mexico: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 59 Mexico: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 60 Brazil: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 61 Brazil: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 62 Colombia: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 63 Colombia: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 64 Others: Micro Turbines Market Size, By End-User, 2015-2022 (USD Million)
Table 65 Others: Micro Turbines Market Size, By Application, 2015-2022 (USD Million)
Table 66 Contracts & Agreements, 2014-2017
Table 67 Partnerships, Collaborations, Alliances, & Joint Ventures, 2014-2017
Table 68 New Product Developments, 2014-2017
Table 69 Investments & Expansions, 2014-2017
Table 70 Mergers & Acquisitions, 2014-2017

List of Figures

Figure 1 Markets Covered: Micro Turbines Market
Figure 2 Country-Wise Scope: Micro Turbines Market
Figure 3 Micro Turbines Market: Research Design
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Micro Turbines Market: Market Estimation Approach & Data Triangulation Methodology
Figure 8 The North American Market Dominated the Micro Turbines Market in 2016
Figure 9 The 50-250 kW Segment is Expected to Lead the Micro Turbines Market, By Power Rating, During the Forecast Period
Figure 10 The Combined Heat & Power Segment is Expected to Lead the Micro Turbines Market in 2017
Figure 11 The Industrial End-User Segment is Expected to Lead the Micro Turbines Market
Figure 12 Increasing Focus on the Generation of Clean Energy and Rising Demand for Energy are Expected to Drive the Micro Turbines Market During the Forecast Period
Figure 13 The Combined Heat & Power Application Segment & US Market Held the Maximum Share of the Micro Turbines Market in 2016
Figure 14 The US Market Held the Largest Share in 2016
Figure 15 The 50-250 kW Power Rating Segment is Projected to Dominate the Micro Turbines Market During the Forecast Period
Figure 16 The Combined Heat & Power Application Segment is Expected to Lead the Micro Turbines Market During the Forecast Period
Figure 17 The Industrial End-User Segment is Expected to Dominate the Micro Turbines Market During the Forecast Period
Figure 18 Increasing Focus on the Generation of Clean Energy to Drive the Micro Turbines Market
Figure 19 Increase in World Natural Gas Production, 2015-2040 (Trillion Cubic Feet)
Figure 20 World Net Electricity Generation, By Fuel, 2012-2040 (Trillion KWH)
Figure 21 Oil Price Trend (January 2014-July 2017)
Figure 22 Micro Turbines Market ,By Power Rating, 2016
Figure 23 The Combined Heat & Power Segment to Account for the Larger Share in 2016
Figure 24 Micro Turbines Market, By End-User, 2016
Figure 25 Regional Snapshot: the North American Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 26 The North American Market Led the Micro Turbines Market in 2016
Figure 27 North America: Micro Turbines Market Snapshot
Figure 28 US: Micro Turbines Market, By Application, 2017-2022
Figure 29 Europe: Micro Turbines Market Snapshot
Figure 30 Russia: Micro Turbines Market, By Application, 2017-2022
Figure 31 Australia: Micro Turbines Market, By Application, 2017-2022
Figure 32 Mexico: Micro Turbines Market, By Application, 2017-2022
Figure 33 Key Developments in the Micro Turbines Market, 2014-2017
Figure 34 Market Rankings Based on Revenue, 2016
Figure 35 Ansaldo Energia: Company Snapshot
Figure 36 Capstone Turbine: Company Snapshot

Note: Product cover images may vary from those shown
3 of 5

Loading
LOADING...

4 of 5

FEATURED COMPANIES

  • 247solar
  • Aurelia
  • Bowman
  • Capstone Turbine
  • Flexenergy
  • MTT
  • MORE

The micro turbines market is estimated to be USD 159.7 Million in 2017. It is projected to grow at a CAGR of 9.46%, from 2017 to 2022, to reach a market size of USD 251.0 Million by 2022. 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 report segments the micro turbines market based on application into combined heat and power (CHP) and standby power. 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 micro turbines market was the largest in 2016. 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.

In this report, the micro turbines market has been analyzed with respect to 4 regions, namely, North America, Europe, Asia Pacific, and the rest of the world. North America is expected to dominate the micro turbines market during the forecast period due to the continued increase in energy consumption mainly from the oil & gas sector, which contributed to the highest demand for micro turbines. Another factor contributing to the market growth is the prevalence of distributed power generation in the region. Furthermore, a large number of coal power plants are scheduled to be shut down in the US, leading to an increase in the demand for alternative sources of energy generation. The demand from the IT and telecommunications sector is also driving the micro turbines market. Aging power plants and frequent natural calamities have created enormous growth opportunities for the market in the region. The figure below shows the projected market size in 2022 in various regions, with the respective CAGRs.

The electrical efficiency of micro turbines is among the lowest of all the distributed power generation technologies. For this reason, applications that require high electrical efficiency, generally, do not prefer micro turbines. Secondly, the recent slump in oil prices has resulted in the availability of crude oil for electricity generation through internal combustion engines at a cheaper price. Internal combustion engines are direct substitutes for micro turbines in distributed power generation. These have proved to be restraining factors for the growth of the micro turbines market.

Some of the leading players in the micro turbines market include Capstone Turbine (US), Ansaldo Energia (Italy), FlexEnergy (US), MTT (Netherlands), and Toyota Turbine and Systems (Japan), Brayton Energy (US), Eneftech Innovation (Switzerland), and Bladon Jets (UK). These players have adopted growth strategies such as new product launches, contracts & agreements, mergers & acquisitions, and expansions to capture a larger share of the micro turbines market.

Note: Product cover images may vary from those shown
5 of 5
  • 247solar
  • Ansaldo Energia
  • Aurelia
  • Bladon Jets
  • Bowman
  • Brayton Energy
  • Capstone Turbine
  • Eneftech Innovation
  • Flexenergy
  • Icrtec
  • MTT
  • Toyota Turbine and Systems
  • Turbotech
Note: Product cover images may vary from those shown
6 of 5
Note: Product cover images may vary from those shown
Adroll
adroll