Microturbine market is projected to reach from $180 million in 2018 to $251 million in 2022 to $360 million in 2026. Microturbine comes in power ranging from 50-20kw. Driving factors contributing to growth of market are focus of generation of clean energy, rise in urban areas contributing to high domestic demand, and in CHP (combined heat and power). Also, with the world moving to significant technological advancements will require huge electricity consumption, increasing demand for microturbine.
Microturbine market segmented basis on power rating ranges from (12-50 kW), (50-250 kW), and (250-500 kW). Segment based on end-user includes Industrial applications like in power plants, pharmaceuticals, mining, oil & gas, water treatment. In commercial buildings such as schools, colleges, offices where there is a medium requirement of energy & in the residential sector. And regionally market will be divided into North America, Europe, Asia Pacific, Central & South America, Middle East & Africa.
With increase in demand for microturbine there has been a significant development in the microturbine industry. UAV Turbines Inc. launched a family of turbines in August 2019 which will help commercial and defence partners to offer powerful and reliable propulsion systems. Bladon Micro Turbine signed an agreement with Gridserve in January 2019. It is a multi-million contract that will see the pioneering Bladon MTG12 integrated into Gridserve’s 12kW solar hybrid power solution.
Due to significant advancements in technology like hybrid cars and many others, demanding high electricity generation. Increasing application of microturbine in CHP and focus on clean energy generation will be driving the growth of the microturbine market.
Capstone Turbine Corporation and Brayton Energy are the key players in the global microturbines market. Other notable companies competing the market include Global Microturbine LLC, NewEnCo, Ansaldo Energia S.p.A, FlexEnergy, NewEnCo Ltd., Elliot Company Inc., and Ingersoll-Rand Company
Microturbine market segmented basis on power rating ranges from (12-50 kW), (50-250 kW), and (250-500 kW). Segment based on end-user includes Industrial applications like in power plants, pharmaceuticals, mining, oil & gas, water treatment. In commercial buildings such as schools, colleges, offices where there is a medium requirement of energy & in the residential sector. And regionally market will be divided into North America, Europe, Asia Pacific, Central & South America, Middle East & Africa.
With increase in demand for microturbine there has been a significant development in the microturbine industry. UAV Turbines Inc. launched a family of turbines in August 2019 which will help commercial and defence partners to offer powerful and reliable propulsion systems. Bladon Micro Turbine signed an agreement with Gridserve in January 2019. It is a multi-million contract that will see the pioneering Bladon MTG12 integrated into Gridserve’s 12kW solar hybrid power solution.
Due to significant advancements in technology like hybrid cars and many others, demanding high electricity generation. Increasing application of microturbine in CHP and focus on clean energy generation will be driving the growth of the microturbine market.
Capstone Turbine Corporation and Brayton Energy are the key players in the global microturbines market. Other notable companies competing the market include Global Microturbine LLC, NewEnCo, Ansaldo Energia S.p.A, FlexEnergy, NewEnCo Ltd., Elliot Company Inc., and Ingersoll-Rand Company
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