Microturbine Market by End-user, Application, and Geography - Forecast and Analysis 2021-2025

The microturbine market size has the potential to grow by USD 988.86 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 16.87%. 

This report provides a detailed analysis of the market by end-user (industrial, commercial, and residential), application (cogeneration and stand-by power), geography (North America, Europe, APAC, South America, and MEA), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

• Ansaldo Energia Spa
• Bladon Jets
• Brio Energy Pvt. Ltd.
• Capstone Turbine Corp.
• Eneftech Innovation SA
• FlexEnergy Inc.
• General Electric Co.
• ICR Turbine Engine Corp.
• Micro Turbine Technology (MTT) BV
• OPRA Turbines

 

The microturbine market is fragmented and the vendors are deploying growth strategies such as R&D to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as strict regulations to curb carbon emissions to achieve growth opportunities. However, factors such as new technology market entry hurdles faced by microturbines will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the microturbine market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This microturbine market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Microturbine Market: Key Drivers and Trends

Strict regulations to curb carbon emissions are enabling growth opportunities for microturbine market Global warming and the associated perils have forced countries worldwide to take concrete steps to control the situation. The US is one of the frontrunners to roll out plans to curb emissions from the power generation industry Additionally, many states are expected to opt for natural gas-powered plants as these are more cost-effective than setting up renewable plants and associated infrastructure. Moreover, microturbines are a cost-effective and less polluting power generation option that can provide electricity, especially in remote areas. Therefore, the technology is expected to gain momentum during the forecast period.

This market research analysis identifies the decommissioning of nuclear power plants as one of the primary growth factors for the microturbine systems market. Countries such as Germany and France have already started decommissioning their nuclear plants and replacing them with gas-based or renewable energy-based power generation.  However, energy- and gas-based power generation require huge investment for upgrading the grid infrastructure. As a result, standalone structures such as microturbines will be preferred by governments and the market will witness a spike in its growth, especially in countries with regulations to decommission nuclear plants.

 

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Microturbine Market: Segmentation by Geography

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36% of the market’s growth will originate from North America during the forecast period. The US is one of the key markets for microturbines in North America. However, market growth in this region will be slower than the growth of the market in APAC and Europe.

The shale gas boom is one of the prime factors that will facilitate the microturbine market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Microturbine Market: Segmentation by End-user

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Microturbines are used in several industries such as food processing, furniture, plastics and plating, metals and mining, and wastewater treatment industries. Moreover, as a result of their ability to function on multiple fuels, they have also found significant application in the oil and gas industry sector. The oil and gas industries in countries such as the US, Russia, and China will be the major revenue contributors where microturbines are used for both power generation and heating/cooling purposes. Therefore, the growth of the market segment is expected to be significant during the forecast period.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the microturbine market size.

 

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Microturbine Market: Key Highlights of the Report for 2021-2025

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive microturbine market growth during the next five years
• Precise estimation of the microturbine market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the microturbine industry across North America, Europe, APAC, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of microturbine market vendors

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Microturbine Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 17%
Market growth 2021-2025	USD 988.86 million
Market structure	Fragmented
YoY growth (%)	7.13
Regional analysis	North America, Europe, APAC, South America, and MEA
Performing market contribution	North America at 36%
Key consumer countries	US, UK, Denmark, China, India, and The Netherlands
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Ansaldo Energia Spa, Bladon Jets, Brio Energy Pvt. Ltd., Capstone Turbine Corp., Eneftech Innovation SA, FlexEnergy Inc., General Electric Co., ICR Turbine Engine Corp., Micro Turbine Technology (MTT) BV, and OPRA Turbines
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.