Microturbine Market Growth, Share Trends, Opportunities and Future Scope 2022-2032
Microturbine Market Size- By Power Rating, By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
| Published: Feb-2023 | Report ID: POAE2306 | Pages: 1 - 228 | Formats*: |
| Category : Power & Energy | |||
Global Microturbine Market Overview
According to SPER Market Research, the Global Microturbine Market is estimated to reach USD 0.19 billion by 2032 with a CAGR of 10.33%.
In terms of revenue, microturbine market is expected to grow over the forecast years. Over the course of the forecast period, consumers' growing preference for low-emission power production sources is anticipated to continue to be a major market-driving factor. Micro turbines have many advantages, including their small size, the ability to run on many fuels, the lack of moving parts, and improved efficiency, which results in lower electricity costs and is expected to enhance demand among end-use sectors. The primary driver of the expansion of the micro turbine market in this region is favourable government laws, which are being favoured as shale gas exploitations increase. With gas and oil prices stabilizing, the region will experience a full-scale decline in oil projects. By incorporating micro turbine systems into oil and gas projects, oil and gas producers will be able to significantly reduce their energy costs and improve the efficiency of their drilling and operational processes.
Product creation is anticipated to be made easier in emerging economies like China, Malaysia, and South Korea as a result of the rising demand for energy supplies and growing environmental worries about pollution and global warming. In the foreseeable future, it is projected that demand will be driven by the decommissioning of nuclear facilities, mostly in developed countries of Europe. In the foreseeable future, fluctuating oil prices are anticipated to impede industry growth overall. The sharp decline in crude oil prices over the past few years has had a severe effect on market income. Over the projected period, industrialization in the Asia Pacific and the Middle East is anticipated to emerge as a significant opportunity for development. The near future is expected to see significant competition from currently deployed distributed generation equipment.
Impact of COVID-19 on the Global Microturbine Market
The coronavirus has spread to other nations and is now considered a threat to world health. The power generation sector is just one of many business sectors that are impacted by the epidemic. It was necessary for the governments of various nations to implement a lockdown. The majority of nations have put restrictions on travel within or between their borders, which has significantly disrupted the supply chain and halted trade activities. Because of the growing fear of the lethal virus, most industries were shut down, including new power projects. As a result, demand for microturbines and related parts & accessories is dropping. Many projects need to import components, machinery, or turbines from other countries, and the availability of these materials has been hampered as a result of the governments of various countries closing international borders. As a result, the projects were delayed. Due of the pandemic's existence, investment has decreased in the power sector.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Power Rating, By Application, By End User |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | Ansaldo Energia S.P.A., Bladon Jets, Brayton Energy LLC, Calnetix Technologies LLC, Capstone Turbine Corporation, Eneftech Innovation SA, Flexenergy, Inc., ICR Turbine Engine Corporation, Microturbine Technology BV, NewEnCo., Toyota Motor Corporation, Wilson Solarpower Corporation |
Global Microturbine Market Segmentation:
1. By Power Rating:
- 12kw – 50kw
- 51kw – 250kw
- 251kw – 500kw
- 501kw – 100kw
2. By Application:
- Combined Heat and Power
- Standby Power
3. By End User:
- Commercial
- Industrial
- Residential
4. By Region:
- Asia-Pacific
- Europe
- Middle East
- Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Size of Global Microturbine Market (FY’2019-FY’2032)
- Overview of Global Microturbine Market
- Segmentation of Global Microturbine Market By Power Rating (12kw – 50kw, 51kw – 250kw, 251kw – 500kw, 501kw – 100kw)
- Segmentation of Global Microturbine Market By Application (Combined Heat and Power, Standby Power)
- Segmentation of Global Microturbine Market By End User (Commercial, Industrial, Residential)
- Statistical Snap of Global Microturbine Market
- Global Microturbine Market Growth Analysis
- Problems and Challenges in Global Microturbine Market
- Global Microturbine Market Competitive Landscape
- Impact of COVID-19 and Demonetization on Global Microturbine Market
- Details on Recent Investment in Global Microturbine Market
- Competitive Analysis of Global Microturbine Market
- Major Players in the Global Microturbine Market
- SWOT Analysis of Global Microturbine Market
- Global Microturbine Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data2.1.2 Primary data2.1.3 SPER’s internal database2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers4.1.2 Restraints4.1.3 Opportunities4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Microturbine Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths5.1.2 Weaknesses5.1.3 Opportunities5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape5.2.2 Economic landscape5.2.3 Social landscape5.2.4 Technological landscape5.2.5 Environmental landscape5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers5.3.2 Bargaining power of Buyers5.3.3 Threat of Substitute5.3.4 Threat of new entrant5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Global Microturbine Manufacturing Base Distribution, Sales Area, Product Type6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Microturbine Market
7. Global Microturbine Market, By Power Rating, 2019-2032 (USD Million)
7.1 12kw – 50kw7.2 51kw – 250kw7.3 251kw – 500kw7.4 501kw – 100kw
8. Global Microturbine Market, By Application, 2019-2032 (USD Million)
8.1 Combined Heat and Power8.2 Standby Power
9. Global Microturbine Market, By End User,2019-2032 (USD Million)
9.1 Commercial9.2 Industrial9.3 Residential
10. Global Microturbine Market, By Region, 2019-2032 (USD Million)
10.1 Global Microturbine Market and Market Share by Region (2019-2025)10.2 Global Microturbine Market and Market Share by Region (2026-2032)10.3 Asia-Pacific
10.3.1 Australia10.3.2 China10.3.3 India10.3.4 Japan10.3.5 South Korea10.3.6 Rest of Asia-Pacific
10.4 Europe
10.4.1 France10.4.2 Germany10.4.3 Italy10.4.4 Spain10.4.5 United Kingdom10.4.6 Rest of Europe
10.5 Middle East and Africa
10.5.1 Kingdom of Saudi Arabia10.5.2 United Arab Emirates10.5.3 Rest of Middle East & Africa
10.6 North America
10.6.1 Canada10.6.2 Mexico10.6.3 United States
10.7 Latin America
10.7.1 Argentina10.7.2 Brazil10.7.3 Rest of Latin America
11. Company Profiles
11.1 Ansaldo Energia S.P.A.
11.1.1 Company details11.1.2 Financial outlook11.1.3 Product summary11.1.4 Recent developments
11.2 Bladon Jets
11.2.1 Company details11.2.2 Financial outlook11.2.3 Product summary11.2.4 Recent developments
11.3 Brayton Energy LLC
11.3.1 Company details11.3.2 Financial outlook11.3.3 Product summary11.3.4 Recent developments
11.4 Calnetix Technologies LLC
11.4.1 Company details11.4.2 Financial outlook11.4.3 Product summary11.4.4 Recent developments
11.5 Capstone Turbine Corporation
11.5.1 Company details11.5.2 Financial outlook11.5.3 Product summary11.5.4 Recent developments
11.6 Eneftech Innovation SA
11.6.1 Company details11.6.2 Financial outlook11.6.3 Product summary11.6.4 Recent developments
11.7 Flexenergy, Inc.
11.7.1 Company details11.7.2 Financial outlook11.7.3 Product summary11.7.4 Recent developments
11.8 ICR Turbine Engine Corporation
11.8.1 Company details11.8.2 Financial outlook11.8.3 Product summary11.8.4 Recent developments
11.9 Microturbine Technology BV
11.9.1 Company details11.9.2 Financial outlook11.9.3 Product summary11.9.4 Recent developments
11.10 NewEnCo.
11.10.1 Company details11.10.2 Financial outlook11.10.3 Product summary11.10.4 Recent developments
11.11 Toyota Motor Corporation
11.11.1 Company details11.11.2 Financial outlook11.11.3 Product summary11.11.4 Recent developments
11.12 Wilson Solarpower Corporation
11.12.1 Company details11.12.2 Financial outlook11.12.3 Product summary11.12.4 Recent developments
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Microturbine Market is projected to reach USD 0.19 billion by 2032, growing at a CAGR of 10.33% during the forecast period.
Microturbine Market grew in market size from 2021. The Market is expected to reach USD 0.19 billion by 2032, at a CAGR of 10.33% during the forecast period.
Microturbine Market CAGR of 10.33% during the forecast period.
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Microturbine Market size is USD 0.19 billion from 2022 to 2032.
Microturbine Market Segment is Covered By Power Rating, By Application, By End User.
The North America region is anticipated to have the highest market share in the Microturbine Market.
The key players in the market include Companies Covered Ansaldo Energia S.P.A., Bladon Jets, Brayton Energy LLC, Calnetix Technologies LLC, Capstone Turbine Corporation, Eneftech Innovation SA, Flexenergy, Inc., ICR Turbine Engine Corporation, Microturbine Technology BV, NewEnCo., Toyota Motor Corporation, Wilson Solarpower Corporation.
The primary driver of the expansion of the micro turbine market in this region is favourable government laws, which are being favoured as shale gas exploitations increase. With gas and oil prices stabilizing, the region will experience a full-scale decline in oil projects.
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