MicroTurbines Market Size, Share And Industry Analysis By Application (Standby Power, Combined Heat and Power (CHP)), By Power Rating (Up to 50 kW, 51 kW to 100 kW, 100 kW to 200 kW, Above 200 kW), By End User (Residential, Commercial, Industrial) And Regional Forecast, 2019-2026

The global micro turbine market size stood at nearly US$ 180 Mn in 2018 and is projected to reach more than US$ 360 Mn by the end of 2026, exhibiting a CAGR of 9.23% in the forecast period.

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Microturbines are very small turbines with unit sizes ranging from 1kW to 350kW. Microturbine has evolved from turbocharger technology mainly found in automotive and aerospace applications. Microturbines are fuel flexible, can function on either diesel or natural gas, and found its major application in industrial machines ranging from 30kW to 500kW and are much efficient and faster than gas turbines only if the system is integrated with a recuperator.

Microturbine has emerged as a breakthrough in CHP application because the exhaust heat can be recovered with a heat recovery boiler and overall efficiency can be increased as compared with convention natural gas turbines. In addition, the high efficiency-low carbon emission properties of gas-fired power plants boost the microturbine market share worldwide.

Power and heat cogeneration enables high-efficiency energy generation with significant main energy savings, up to 40%, which mainly contributes to the demand for this product, particularly from CHP facilities. The global demand for microturbine is dominated by developed nations along with the rising concern over energy efficiency and GHG emission acts as a major market growth factors in the forecast period.

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Market Segmentation

"Power Rating Ranging from 50-250kw to Dominate the Market"

Microturbines with power ranging from 50-250kW are widely used in industrial and commercial applications. Owing to its increasing adoption in CHP plants and replacing the coal-powered plant, demand for microturbines will fuel in the upcoming years. Apart from industrial machinery applications, these products are widely used in large commercial buildings such as schools, hotels, and offices where the power requirement is in the medium range.

"Combined Heat and Power Is the Major Application of Microturbine"

Micro turbine market size finds a wide application in the combined heat and power sector with the majority of the demand coming from commercial and industrial end-users. Globally, on average, the application of microturbine in CHP is more than 50% followed by other application such as standby power purposes. CHP is highly adopted technology across the world and with rising demand for energy efficiency and emission concerns, microturbine has emerged as an optimum solution in order to achieve the country’s target and control environment emission.

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"Wide Application in Industrial Segment Holds a Large Share"

Microturbine has replaced the demand for convention natural gas turbines across various industries and the trend is expected to continue in the forecast period. Demand from industries such as mining, oil & gas, pharmaceuticals, and water treatment has increased rapidly over the past years, and the industrial segment is expected to dominate the global microturbine market share in the forecast period.

Regional Analysis

"Asia Pacific Is Going to Witness a Significant Growth Rate in the Forecast Period"

Currently, the U.S. accounted for a major share of the global market followed by Mexico and China respectively. The market is anticipated to witness a tremendous shift where Asia Pacific countries such as India, Australia, Indonesia, and Malaysia would witness significant demand for microturbine in the upcoming years. In 2018, China covered approximately 40% of the region’s market share paving the way for other countries. In addition to that, the region has lots of upcoming projects lined up in the forecast period, which will favor the growth of the market in this region.

Key Market Drivers

"Market Dominated by Major Market Players"

The microturbine market is highly dominated by major players around the world. Capstone Turbine is the market leader in the microturbine industry. The company has a significant presence across the globe with the majority of the revenue comes from North America, Latin America and European countries. Other leading players in the global market are Bladon Micro Turbine, UAV Turbines, Ansaldo Energia, Aurelia Turbines, Micro Turbine Technology (MTT), FlexEnergy, ICR Turbine Engine Corporation, Dresser-Rand - A Siemens Business, Turbo Tech Precision Engineering Private Limited, and Brayton Energy.

List of Key Companies Profiled

• Capstone Turbine Corporation


• Bladon Micro Turbine


• UAV Turbine


• Ansaldo Energia


• Aurelia Turbine


• MTT Microturbine


• FlexEnergy Inc.


• ICR Turbine Engine Corporation


• Dresser-Rand


• Turbo Tech Precision Engineering Pvt., Ltd.


• Brayton Energy, LLC.


• Other Prominent Players

Report Coverage

Microturbines are small combustion turbine that typically runs on gaseous or liquid fuels to drive an electrical generator ranges in size from 30 to 330kW. The development of microturbine was accelerated by the similarity of design to a large turbine which provides the basis for engineering. The number of fuels used to run microturbine is natural gas, other gaseous fuel, waste heat from a thermal power plant, and liquid petroleum fuels (e.g., gasoline, kerosene, diesel, and heating oil). Ideally, microturbines are suited for distributed generation applications due to its flexibility in the connection method, the ability to provide reliable and stable power, and low emission compared to reciprocating engines. These products are intensively used in combined heat and power (CHP), combined cooling heating and power (CCHP), resource recovery, peak shave and baseload power, power only applications, and microgrid.

The report provides qualitative and quantitative insights on the global market and detailed analysis of market size & growth rate for all possible segments in the market. The microturbine industry is segmented by application, power rating, end-user, and geography. Based on the application, the global microturbine market size is segmented into CHP and standby power. Based on the power rating, the market is segmented into Up to 50kW, 50-250kW and Above 250kW.

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On the basis of end-user, the global market is segmented into residential, commercial and industrial. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.

Along with this, the report provides an elaborative analysis of the market trends, dynamics and competitive landscape. Various key insights provided in the report are the recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, investment scenario, technological advancement, and key industry trends.

SEGMENTATION

Key Industry Developments

• In June 2019, Innovative Energy Corporation, a subsidiary of Capstone, has won an order to install the C800 Signature Series microturbine in a luxury resort in Ocho Rios, Jamaica.


• In May 2019, UAV Turbines Inc. launched the Monarch RP family of microturbine engines that will provide defense and commercial partners reliable, quiet, and powerful propulsion systems.


• In March 2019, Capstone signed a national account agreement with GESS Inc. and receives 9.6 MW order for multiple US renewable natural gas projects. As per the pact, 9.6 MW made up of 12 signature series microturbines.


• In January 2019, Bladon Micro Turbine is pleased to announce a production supply agreement with Gridserve. The multi-million contract will see the pioneering Bladon MTG12 integrated into Gridserve’s 12kW solar hybrid power solution.