Global Micro Turbine Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Combined Heat And Power (CHP), Standby Power), By Power Rating (12 KW – 50kW, 50 KW – 250 KW, 250 KW – 500 KW), By End-User Industry (Residential, Commercial, Industrial), And Geography - Forecasts From 2022 To 2027

  • Published : Mar 2022
  • Report Code : KSI061611318
  • Pages : 114

The global microturbine market is projected to grow at a CAGR of 5.54% during the forecast period to reach US$181.017 million by 2027, from US$124.086 million in 2020. A microturbine is a miniature combustion turbine that powers an electric generator using natural gas, waste heat from thermal plants, and petroleum-based fuels including diesel, kerosene, and heating oil. It comprises a compressor, alternator, combustor, turbine, recuperator, and generator. Microturbines have gained popularity around the world due to their small size and excellent efficiency. It works by collecting exhaust energy and preheating compressed incoming air to improve the generator's electrical efficiency.

The primary factor driving the global microturbine market during the forecast period is the rising electricity demand, particularly, lower-emission power generation as the population grows rapidly. Various smart building and smart city projects have been launched in several nations as a result of rapid industrialization, resulting in increased electricity demand. To meet the rising electricity demand, both the public and private sectors are boosting power plant capacity, either by building new facilities or expanding existing ones. Gas-driven turbines are commonly used in such projects since they are both efficient and environmentally friendly. Many countries have enacted strict emission regulations, causing businesses to employ microturbines on a big scale. In 2019, there were around 2,044 GW of coal-fired power plants in operation in the world. The majority of countries are phasing out coal, for instance, China plans to phase out several coal and nuclear power reactors by 2025. These are the variables that will propel this market forward over the projected period.

The high installation cost may stifle market expansion.  Microturbine installation prices are higher when compared to alternatives such as reciprocating engines. Microturbines have a hard time competing with reciprocating engines because of their high upfront costs. Microturbines also have a low fuel-to-electric efficiency, which is a significant limitation. Fuel-to-electric efficiency for un-recuperated microturbines is around 15 percent, whereas recuperated microturbines have higher efficiency in the range of 25 percent to 30 percent. In comparison to reciprocating engines, these efficiency values are inadequate.

Key Developments

Innovametall Stahl-und Metallbau received two C65 microturbines from Capstone Green Energy Corporation in July 2021 for use in an ultra-low emissions CHP system. UAV Turbine stated in November 2019 that it is developing a microturbine engine for Group 3 unmanned aerial vehicles. In June 2019, Capstone's subsidiary Innovative Energy Corporation was awarded a contract to install the C800 Signature Series microturbine in a high-end resort in Ocho Rios, Jamaica. In January 2019, Gridserve and Bladon Microturbine signed a production supply deal under which, the Bladon MTG12 will be integrated into Gridserve's 12kW solar hybrid power package.

By application, the global microturbine market can be segmented into standby power and (CHP) combined heat and power. During the projected period, the CHP segment market is predicted to dominate the market. This application is ideal for sectors that rely on heat to power internal processes, such as wastewater treatment plants, breweries, rubber and paper mills, and other residential applications.

By power rating, the global microturbine market can be segmented into 12–50 kW, 50–250 kW, and 250–500 kW categories. The preeminent power rating sector was 50 kW-250 kW microturbines, which are expected to increase at the fastest rate during the projection period due to the growing use of hybrid electric vehicles, particularly in developed nations. The main cause for this product's rise is due to its quality of consuming less energy, which decreases household consumers' energy costs.

By end-user industry, the global microturbine market is segmented into commercial, industrial, and residential. In the projected, the commercial segment is expected to be the fastest-growing segment. The growth of metropolitan areas and the development of commercial trade centers are driving this market. The expansion of shopping malls, sports complexes, hotels, and resorts is expected to further increase the power demand.

By geography, the global microturbine market is segmented into North America, Europe, South America, the Middle East and Africa, and Asia Pacific regions. North America segment dominates the market owing to the United States market share in North America. In this region, aging power plants and frequent natural disasters have provided huge potential opportunities for the microturbine industry. The CHP plants in Europe are driving up the demand for microturbines in the region. Asia Pacific is predicted to grow at a significant rate in the projection period owing to CHP installations and demand requirements in China and India.

Covid-19 Insights

The COVID-19 pandemic had a negative impact on the global market for microturbines. Countries experienced a drop in economic development as a result of the COVID-19 pandemic, altering consumer purchasing patterns, halting transportation due to the lockdown applied in several nations, and supply chain disruption. As a result, insufficient raw material supply is likely to slow the production rate of microturbines, reducing market growth. The power sector suffered massively.

Global Micro Turbine Market Scope:

Report Metric Details
 Market size value in 2020  US$124.086 million
 Market size value in 2027  US$181.017 million
 Growth Rate  CAGR of 5.54% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Million
 Segments covered  Type, Power Rating, End-User Industry, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Capstone Turbine Corporation, Bladon Micro Turbine, UAV Turbine, Ansaldo Energia, Aurelia Turbine, MTT Microturbine, FlexEnergy Inc., ICR Turbine Engine Corporation, Turbo Tech Precision Engineering Pvt., Ltd., Brayton Energy, LLC.
 Customization scope  Free report customization with purchase

Key Market Segments:

  • By Type
    • Combined Heat and Power (CHP)
    • Standby Power
  • By Power Rating
    • 12 kW – 50kW
    • 50 kW – 250 kW
    • 250 kW – 500 kW
  • By End-User Industry
    • Residential
    • Commercial
    • Industrial
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the microturbine market size by 2027?
A1. The global microturbine market is projected to reach a market size of US$181.017 million by 2027. 

Q2. What is the size of the global microturbine market?
A2. Micro Turbine Market was valued at US$124.086 million in 2020. 

Q3. What are the growth prospects for the microturbine market?
A3. The microturbine market is projected to grow at a CAGR of 5.54% during the forecast period. 

Q4. Which region holds the maximum market share of the microturbine market?
A4. North America dominates the microturbine market owing to the aging power plants and frequent natural disasters that have provided huge potential opportunities in the region.

Q5. What factors are anticipated to drive the microturbine market growth?
A5. The primary factor driving the global microturbine market is the rising electricity demand, particularly, lower-emission power generation as the population grows rapidly.

1.1. Market Definition
1.2. Market Segmentation

2.1. Research Data
2.2. Assumptions

3.1. Research Highlights

4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis

5.1. Introduction
5.2. Combined Heat and Power (CHP)
5.3. Standby Power

6.1. Introduction
6.2. 12 kW – 50kW
6.3. 50 kW – 250 kW
6.4. 250 kW – 500 kW

7.1. Introduction
7.2. Residential
7.3. Commercial
7.4. Industrial

8.1. Introduction
8.2. North America
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. United Kingdom 
8.4.2. Germany
8.4.3. France
8.4.4. Others
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. Israel
8.5.3. Others
8.6. Asia Pacific
8.6.1. China
8.6.2. Japan
8.6.3. India
8.6.4. South Korea
8.6.5. Others

9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrative
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10.1. Capstone Turbine Corporation 
10.2. Bladon Micro Turbine 
10.3. UAV Turbine 
10.4. Ansaldo Energia 
10.5. Aurelia Turbine 
10.6. MTT Microturbine 
10.7. FlexEnergy Inc. 
10.8. ICR Turbine Engine Corporation 
10.9. Turbo Tech Precision Engineering Pvt., Ltd. 
10.10. Brayton Energy, LLC. 

Capstone Turbine Corporation

Bladon Micro Turbine

UAV Turbine

Ansaldo Energia

Aurelia Turbine

MTT Microturbine

FlexEnergy Inc.

ICR Turbine Engine Corporation

Turbo Tech Precision Engineering Pvt., Ltd.

Brayton Energy, LLC.