The microturbines market is predicted to reach USD 251.4 million in 2026, from an estimated value of USD 149.1 million in 2021, developing with a CAGR of 9.50%.
Microturbines are designed in such a way that they combine the reliability of an aircraft's auxiliary power system with the manufacturing savings of a turbocharger.Microturbine systems are typically air-cooled, and some designs use air bearings. Therefore, these turbines eliminate the oil and water systems commonly employed in piston engines. Microturbines have a low emission combustion system, whose emissions performance is comparable to that of larger gas turbines. Microturbines also have low maintenance potential with their uptime of around 99% and are highly reliable and durable to generate high-quality, continuous power. Microturbines can be defined as small-scale electrical generators that produce electrical energy by burning liquid and gaseous fuels. The combustion of these fuels in the turbine results in high-speed rotation of the turbine shaft, which then turns an electrical generator to produce electrical energy. Microturbines operate at high speeds and can only be employed for power generation or for combined heat and power applications similar to gas turbines.
Microturbines are increasingly being employed as a source of distributed power generation these days, due to the rising call for clean energy, outdated grid infrastructure, and easy fuel availability. The focus on green energy production, heat production for industrial and commercial or residential activities, as well as the escalating call for cogeneration applications, is predicted to change the trends towards microturbines. The growing environmental concerns related to worldwide warming, due to the burning of fossil fuels, the application of cogeneration is predicted to dominate the global microturbines market during the foreseen period.
The global microturbines market is driven by extreme efficiency and optimal design. Additionally, these systems eliminate the use of oil and water systems that are common among piston engines. In addition, smaller microturbines also exhibit the efficiency and performance of large gas turbines, making their widespread penetration into various industries a reality. Also, the escalating advancements of microturbines are predicted to increase their availability in the near future and lead to a considerable reduction in maintenance costs. This is predicted to create significant expansion opportunities for various players in the worldwide microturbines market. Besides, poor grid connectivity in developing and underdeveloped countries is supposed to increase call for on-site power generation as call for power increases in these countries. Additionally, factors such as reliability, call for custom power, and lower power generation costs are foreseen to increase call for microturbines. They can be easily installed compared to complex conventional power plants and can produce energy cheaply from much cleaner energy sources.
Falling oil & gas prices are likely to hamper the expansion of the worldwide microturbines market.
Strong manufacturing activity in Asia-Pacific is putting enormous pressure on the infrastructure of several emerging countries. Of these, only a few like China have the infrastructure to cope with the calls of a large population and growing production activity. Many countries like India, Vietnam, and Indonesia are still plagued by widespread blackouts and unreliable power supplies. Also, a reliable power supply ensures continuous production, and the relatively low power generation costs represent a great expansion opportunity for many. Therefore, escalating manufacturing activity, unreliable power supply, and lucrative expansion opportunities are predicted to drive significant expansion for the microturbines market in the near future.
Low electrical efficiency is foreseen to present severe challenges to the Microturbines Market expansion.
Market Size Available
2020 – 2025
2021 - 2026
By Product, Type, Consumption, Distribution Channel and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
Capstone Turbine Corporation (U.S.), FlexEnergy, Inc. (U.S.), Ansaldo Energia S.p.A (Italy), Brayton Energy LLC. (U.S.), Eneftech Innovation SA (Switzerland), Microturbine Technology BV (the Netherlands), Wilson Solarpower Corporation (U.S.), ICR Turbine Engine Corporation (U.S.), Calnetix Technologies LLC (U.S.), Toyota Motor Corporation (Japan), and Bladon Jets (Isle of Man)
By power rating:
The combined heat and power market is predicted to grow at the highest CAGR during the foreseen period. Micro turbines that generate combined heat also provide heat to residential homes, which is commonly seen in colder climates such as Europe, North America, and parts of China.
By end user:
The commercial fragment is predicted to be the quickest developing segment of the micro-turbine industry, by end user. This segment is driven by the expansion of urban areas and the development of shopping centers.
North America MicroTurbines Industry includes U.S, Canada.
Europe MicroTurbines Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.
Asia Pacific MicroTurbines Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.
Latin America MicroTurbines Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.
Middle East & Africa MicroTurbines Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.
North America is the largest market for micro turbines, followed by Europe and Asia-Pacific. The United States accounted for a majority stake in the North America region in 2019, while Canada is predicted to see expansion at the highest CAGR from 2021 to 2026. Aging power plants and frequent natural disasters have created enormous expansion opportunities. for the micro turbine market in this region. The shale gas boom in North America and the decommissioning of nuclear power plants in Europe are driving call for micro-turbines in these regions. The escalating use of microturbines with cogeneration systems that are much more efficient and the escalating incentives in North America and Europe for the use of these systems are predicted to translate into important new avenues for players in the CHP market. microturbines. Aging power infrastructure and poor grid connectivity in various regions are predicted to fuel call for on-site power generation technologies, such as microturbines. Maintaining outdated energy infrastructure, especially in developed regions like North America and Europe, is predicted to cause network downtime in the region. On-site power generation is estimated to be highly feasible for a reliable power supply in these areas.
The key players of the global micro turbine market are Capstone Turbine Corporation (U.S.), FlexEnergy, Inc. (U.S.), Ansaldo Energia S.p.A (Italy), Brayton Energy LLC. (U.S.), Eneftech Innovation SA (Switzerland), Microturbine Technology BV (the Netherlands), Wilson Solarpower Corporation (U.S.), ICR Turbine Engine Corporation (U.S.), Calnetix Technologies LLC (U.S.), Toyota Motor Corporation (Japan), and Bladon Jets (Isle of Man) among others.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Microturbines Market, By Power Rating
6.1.1 12-50 KW
6.1.2 50-250 KW
6.1.3 250-500 KW
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Microturbines Market, By Application
6.2.1 Combined Heat and Power
6.2.2 Standby Power
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Microturbines Market, By End-User
6.3.4 Market Size Estimations & Forecasts (2019-2024)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Power Rating
7.2.3 By Application
7.2.4 By End-User
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By Power Rating
7.3.3 By Application
7.3.4 By End-User
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By Power Rating
7.4.3 By Application
7.4.4 By End-User
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By Power Rating
7.5.3 By Application
7.5.4 By End-User
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Power Rating
7.6.3 By Application
7.6.4 By End-User
8. Key Player Analysis
8.1 Capstone Turbine Corporation
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 FlexEnergy, Inc
8.3 Ansaldo Energia S.p.A
8.4 Brayton Energy LLC
8.5 Eneftech Innovation SA
8.6 Microturbine Technology BV
8.7 Wilson Solarpower Corporation
8.8 ICR Turbine Engine Corporation
8.9 Calnetix Technologies LLC
8.10 Toyota Motor Corporation
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
The segment-level analysis in terms of By Diagnostic Wearable Devices, and Therapeutic Wearable Devices along with market size forecasts and estimations to detect key areas of industry growth in detail.
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development.
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment.
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies.
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions.
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
Global Microturbines Market By Region, From 2021-2026 ( USD Billion )
Global Microturbines Market By Power Rating, From 2021-2026 ( USD Billion )
Global 12-50 KW Market By Region, From 2021-2026 ( USD Billion )
Global 50-250 KW Market By Region, From 2021-2026 ( USD Billion )
Global 250-500 KW Market By Region, From 2021-2026 ( USD Billion )
Global Microturbines Market By Application, From 2021-2026 ( USD Billion )
Global Combined Heat and Power Market By Region, From 2021-2026 ( USD Billion )
Global Standby Power Market By Region, From 2021-2026 ( USD Billion )
Global Microturbines Market By End-User, From 2021-2026 ( USD Billion )
Global Industrial Market By Region, From 2021-2026 ( USD Billion )
Global Commercial Market By Region, From 2021-2026 ( USD Billion )
Global Residential Market By Region, From 2021-2026 ( USD Billion )