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Microturbine Market to Register CAGR of 10.9% by 2028; Capstone Turbine Engages in Novel Factory Protection Plan to Boost Growth

January 11, 2022 | Energy & Power

The global microturbine market size was USD 54.7 million in 2020. The global market is expected to grow from USD 58.5 million in 2021 to USD 120.4 million in 2028 at a growth rate of 10.9% in the 2021-2028 period.


This information is provided by Fortune Business Insights™, in its report, titled, “Microturbine Market Size, Share & COVID-19 Impact Analysis, By Power Rating (Up to 50 kW, 51 kW-250 kW, 251-500 kW, and 501-1000 kW), By Application (Combined Heat & Power (CHP) and Standby Power), By End-user (Residential, Commercial {Schools & Colleges, Hospitals, Hotels, and Others}, and Industrial {Food & Beverage, Agriculture, Chemical & Petroleum, Manufacturing, Wastewater Treatment, and Others}) and Regional Forecasts 2021-2028.”


As per our analysts, the factor that these turbines have comparatively low operations and maintenance costs is projected to bolster the product demand.  


COVID-19 Pandemic Affects Intensely on Power Distribution Projects


Most of the nations have confronted restrictions on movement across the nations. These resulted in turbulences in the supply chain and the import and export happenings were also concluded. The demand for such turbines depreciated as the industries were closed across the globe.


The power sector has experienced a large weakening as several power plant projects were terminated owing to the inflicted lockdown worldwide. This results in a worsening in demand for numerous parts and equipment comprising microturbines.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/microturbine-market-100514


Bladon to Provide Alkan CIT with Telecom Tower Power Solutions


Bladon Micro Turbine, who is the forerunner in the design, development, engineering as well as manufacturer of micro turbine gensets, has been engaged in a three-year delivery partnership agreement with Alkan CIT worth over USD 36 million.


Furthermore, under the terms of the deal, Bladon will offer its microturbine driven generators to Alkan for usage at telecom tower locations situated in Africa and the Middle East. Alkan presently is spread across 18 nations in the region, and this collaboration is said to offer Alkan customers with admittance to proficient and dependable telecom tower power.


Surging Installation of Combined Heat and Power (CHP) to Amplify Market Growth


The installation of renewable energy is broadly rising around the world as the consciousness regarding environmental security is extensively growing. The government across many nations is also emphasizing on applying renewable sources of energy to decrease emission levels. The government has also enforced stern emission standards to diminish pollution. The investment in the combined heat and power segment is also commonly elevating across the world. These factors are expected to contribute massive outcomes for the microturbine market growth during the forecast period.


Competitive Landscape


Collaborations among Companies to Fortify Their Brand Values in Global Market


Prominent players in the market are repetitively opting for operative strategies to encourage their products and establish their positions in the market. One such stratagem is to launch novel products by teaming up with other companies to extend their reach to end-users.


Key Industry Development



  • August 2020: Capstone Turbine declared that it has entered in a novel factory protection plan long-term service deal C600 signature assortment micro turbine installed in a food production division. This turbine runs grid-connected utilizing natural gas. 


List of Key Players Covered in this Market Report



  • Capstone Turbine Corporation (U.S.)

  • Bladon Micro Turbine (U.K.)

  • UAV Turbine (U.S.)

  • Ansaldo Energia (Italy)

  • Aurelia Turbine (Finland)

  • MTT Microturbine (Netherlands)

  • FlexEnergy Inc. (U.S.)

  • ICR Turbine Engine Corporation (U.S.)

  • Dresser-Rand (U.S.)

  • Turbo Tech Precision Engineering Pvt., Ltd. (India)

  • Brayton Energy, LLC. (U.S.)


Further Findings



  • By application the market is segmented into Combined Heat & Power (CHP) and Standby Power. The CHP sector holds the majority of market share in this market.

  • North America region has controlled the market in 2020. The U.S. accounted for the majority of the microturbine market share in the North America region.


Table of Segmentation






















































  ATTRIBUTE



  DETAILS



Study Period



2017-2028 



Base Year



2020



Estimated Year



  2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Volume (Units) and Value (USD million)



Segmentation



By Power Rating, By Application, By End-user, and By Region



By Power Rating




  • Up to 50 kW

  • 51 kW -250 kW

  • 251-500 kW

  • 501-1000 kW



By Application




  • Combined Heat and Power (CHP)

  • Standby Power



By End-User




  • Residential

  • Commercial

    • Schools & Colleges

    • Hospitals

    • Hotels

    • Others



  • Industrial

    • Food & Beverage

    • Agriculture

    • Chemical & Petroleum

    • Manufacturing

    • Wastewater Treatment

    • Others





By Geography




  • North America (By Power Rating, By Application, By End-User, By Country)

    • U.S.

    • Canada



  • Europe (By Power Rating, By Application, By End-User, By Country)

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Rest of Europe



  • Asia Pacific (By Power Rating, By Application, By End-User, By Country)

    • China

    • India

    • Australia

    • Southeast Asia

    • Rest of Asia Pacific



  • Latin America (By Power Rating, By Application, By End-User, By Country)

    • Brazil

    • Mexico

    • Rest of Latin America



  • Middle East & Africa (By Power Rating, By Application, By End-User, By Country)

    • GCC

    • South Africa

    • Rest of Middle East & Africa




Microturbine Market
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  • 2017-2019
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