Global Micro Turbine Market Overview:
Microturbines are small fuel-fired turbines for local or mobile power generation and mechanical drive applications. A microturbine is a power generation system based on a combination of a small gas turbine and a direct-driven high-speed generator. Growing demand for clean energy captured by microturbine technology and reducing toxic greenhouse gas emissions drive the market.
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Increasing For Combined Cooling, Heat, and Power (CCHP) Projects With Larger Microturbines
Market Growth Drivers:
Growing Demand for Clean Energy Captured by Micro Turbine Technology and Reinforcing Strict Government Emission Policies to Reduce Toxic Greenhouse Gases
Micro Turbine Act as Contribution Factor to Noise Pollution for Residents
Higher Cost of Micro Turbine Engines Manufacturer and High Cost of Fuel
Increasing Technological Advancement of Digital Twins in Micro Turbine Engines and Manufacturers focus on Long-Term growth Instead of Immediate Cost Reductions.
The microturbine market is a fragmented market due to the presence of a large number of established competitors. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base.
Some of the key players profiled in the report are Ansaldo Energia SPA (Italy), Bladon Micro Turbine (United Kingdom), Capstone Green Energy Corporation (United States), FlexEnergy Solutions (United States), Brayton Energy, LLC (United States), Bowman Power (United Kingdom), Toyota Motor Corporation (Japan), Micro Turbine Technology B.V. (MTT) (Netherlands), ICR Turbine Engine Corporation (ICRTec) (United States) and Calnetix Technologies, LLC (United States). Considering Market by Power Rating, the sub-segment i.e. 12KW – 50KW will boost the Micro Turbine market. Considering Market by Microturbines Types, the sub-segment i.e. Aeroderivative Turbines will boost the Micro Turbine market. Considering Market by End User, the sub-segment i.e. Residential will boost the Micro Turbine market. Considering Market by Fuel Type, the sub-segment i.e. Diesel will boost the Micro Turbine market.
Latest Market Insights:
In June 2021, Cleary Gottlieb Hanwha General Chemical Co., Ltd. acquired the aftermarket gas turbine business of Ansaldo Energia S.p.A. through equity purchase of eight entities in seven jurisdictions (Brazil, Japan, Mexico, Netherlands, South Korea, the United Kingdom, and the United States).
In May 2023, Capstone Green Energy Corporation, a global leader in carbon-reduced and on-site resilient green Energy-as-a-Service (EaaS) solutions, announced that Supernova Energy Services SAS, an authorized distributor in Colombia, has secured an order for C1000 Signature Series Microturbines. The system operates on an industrial dairy farm with an Alfa Laval steam boiler evaporator producing 6,200 lbs. the amount of steam per hour. Alfa Laval AB is a Swedish company founded in 1883 that provides specialty heat recovery products and is a Capstone Green Energy-approved network partner for heat recovery systems.
What Can be Explored with the Micro Turbine Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Micro Turbine Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Micro Turbine
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Micro Turbine market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Micro Turbine market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Micro Turbine Manufacturers, Research and Development (R&D) companies, Government Agencies and End User Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.