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

  • Published: Mar 2021
  • Pages: 120
  • SKU: IRTNTR70287
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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

Microturbine-Market-Market-Size-2020-2025

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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

Microturbine-Market-Market-Share-by-Region-2020-2025

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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

Microturbine-Market-Market-Share-by-End-2020-2025

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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.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Impact of COVID-19 on Utilities
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Cogeneration - Market size and forecast 2020-2025
    • Stand-by power - Market size and forecast 2020-2025
    • Market opportunity by Application

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Industrial - Market size and forecast 2020-2025
    • Commercial - Market size and forecast 2020-2025
    • Residential - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Ansaldo Energia Spa
      • Bladon Jets
      • Brio Energy Pvt. Ltd.
      • Capstone Turbine Corp.
      • FlexEnergy Inc.
      • General Electric Co.
      • ICR Turbine Engine Corp.
      • Micro Turbine Technology (MTT) BV
      • Mitsubishi Electric Corp.
      • Siemens AG

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The microturbine market growth will increase by $988.86 million during 2020-2025.
      The microturbine market is expected to grow at a CAGR of 16.87% during 2020-2025.
      Technavio has segmented the microturbine market by end user (Industrial, Commercial, and Residential) ,application (Cogeneration and Stand-by power) , and geographic (North America, Europe, APAC, South America, and MEA).
      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 are a few of the key vendors in the microturbine market.
      North America will register the highest growth rate of 36.34% among the other regions. Therefore, the microturbine market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      • US
      • UK
      • Denmark
      • China
      • India
      • The Netherlands
      The key factors driving the microturbine market growth are:
      • Strict regulations to curb carbon emissions enabling growth opportunities for microturbine market7.1.1
      • Rising investment in R&D to use microturbines in the transportation industry
      The microturbine market vendors should focus on grabbing business opportunities from the industrial segment as it accounted for the largest market share in the base year.
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