Global Microturbine Market Size Study & Forecast, By Power Rating By Application (Combined Heat and Power, Standby Power), by End-User and Regional Analysis, 2023-2030

Description

List of Tables

Global Microturbine Market is valued at approximately USD 66.39 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 10.10% over the forecast period 2023-2030. A microturbine is a small-scale turbine generator that operates on similar principles to larger gas turbines but on a much smaller scale. These compact units typically generate power in the range of a few kilowatts to several hundred kilowatts. Microturbines are commonly fueled by natural gas, although they can also utilize other fuels such as diesel, biogas, or propane. They are often used in distributed energy generation systems, where electricity is generated on-site, close to the point of consumption. The Microturbine Market is growing because of factors such as rising electricity demand, increasing use of natural gas, and growth in renewable energy integration.

The rising electricity demand is a significant driver behind the growth of the microturbine market. As global populations grow, urbanize, and industrialize, the need for reliable and accessible electricity continues to escalate. Microturbines offer a viable solution to meet this increasing demand by providing decentralized power generation capabilities. Unlike traditional large-scale power plants, microturbines can be deployed in various settings, including residential, commercial, and industrial applications, to generate electricity on-site or near the point of consumption. According to the International Energy Agency, the year-on-year change in electricity demand in the year 2022 stood at 498 terawatt-hours (TWh) which increased to 705 terawatt-hours (TWh) in the year 2023 and it is projected to reach 938 Terawatt-Hour (TWh) by the year 2025. Thus, rising electricity demand is driving market growth. In addition, rising government support/incentives towards the adoption of clean energy technologies and growing advancements in microturbine technology are creating new opportunities for market growth. However, limited efficiency at small scale and fluctuations in oil & gas prices stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Microturbine Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to governmental bodies and private enterprises directing their efforts towards the gradual elimination of nuclear and coal-fired power plants. Within the North American region, the United States commands a significant portion of the market share. Furthermore, the nation's administration has enforced rigorous emission regulations, prompting increased adoption of turbines, especially in Combined Heat and Power (CHP) setups. Asia Pacific is expected to grow at the fastest rate during the forecast period, as the region boasts a remarkably dense population, resulting in elevated electricity demand and consumption levels. This surge in demand is driving widespread adoption of Combined Heat and Power (CHP) systems, consequently fueling increased installations of turbines in the area. Nations like India, China, Australia, and others are witnessing substantial demand for these turbines and are poised to expand their installations further throughout the forecast period.

Major market players included in this report are:

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.

Recent Developments in the Market:

In December 2021, Capstone Green Energy Corporation disclosed that its U.S. distributor, Lone Star Power Solution, had confirmed a deal to furnish a Comprehensive Heat and Power (CHP) clean energy system to a prominent hospital in Alabama. The microturbine, boasting a capacity of 600 kW, will operate on LPNG fuel. The system's commissioning is slated for completion by 2022.
In July 2021, Capstone Green Energy Corporation unveiled plans to supply two C65 microturbines to Innovametall Stahl-und Metallbau for incorporation into an ultra-low emissions CHP system. This contract was secured through Wels Strom GmbH, Capstone's distributor in Austria and Germany. Notably, this system will mark Europe's pioneering gas turbine setup to run on hydrogen.

Global Microturbine Market Report Scope:

Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Power Rating, Application, End User, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Power Rating:

Up to 50 kW
51 kW -250 kW
251-500 kW
501-1000 kW

By Application:

Combined Heat and Power (CHP)
Standby Power

By End User:

Residential
Commercial
Industrial

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1.Executive Summary

1.1.Market Snapshot
1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1.Microturbine Market, by Region, 2020-2030 (USD Billion)
- 1.2.2.Microturbine Market, by Power Rating, 2020-2030 (USD Billion)
- 1.2.3.Microturbine Market, by Application, 2020-2030 (USD Billion)
- 1.2.4.Microturbine Market, by End User, 2020-2030 (USD Billion)
1.3.Key Trends
1.4.Estimation Methodology
1.5.Research Assumption

Chapter 2.Global Microturbine Market Definition and Scope

2.1.Objective of the Study
2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
2.3.Years Considered for the Study
2.4.Currency Conversion Rates

Chapter 3.Global Microturbine Market Dynamics

3.1.Microturbine Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
  - 3.1.1.1.Growing Electricity Demand
  - 3.1.1.2.Increasing Use of Natural Gas
  - 3.1.1.3.Growth in Renewable Energy Integration
- 3.1.2.Market Challenges
  - 3.1.2.1.Limited Efficiency at Small Scale
  - 3.1.2.2.Fluctuations in Oil & Gas Prices
- 3.1.3.Market Opportunities
  - 3.1.3.1.Rising Government Support/Incentives Towards Adoption of Clean Energy Technologies
  - 3.1.3.2.Growing Advancements in Microturbine Technology

Chapter 4.Global Microturbine Market Industry Analysis

4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
4.2.Porter's 5 Force Impact Analysis
4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economical
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
4.4.Top investment opportunity
4.5.Top winning strategies
4.6.COVID-19 Impact Analysis
4.7.Disruptive Trends
4.8.Industry Expert Perspective
4.9.Analyst Recommendation & Conclusion

Chapter 5.Global Microturbine Market, by Power Rating

5.1.Market Snapshot
5.2.Global Microturbine Market by Power Rating, Performance - Potential Analysis
5.3.Global Microturbine Market Estimates & Forecasts by Power Rating 2020-2030 (USD Billion)
5.4.Microturbine Market, Sub Segment Analysis
- 5.4.1. Up to 50 kW
- 5.4.2.51 kW -250 kW
- 5.4.3.251-500 kW
- 5.4.4.501-1000 kW

Chapter 6.Global Microturbine Market, by Application

6.1.Market Snapshot
6.2.Global Microturbine Market by Application, Performance - Potential Analysis
6.3.Global Microturbine Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4.Microturbine Market, Sub Segment Analysis
- 6.4.1. Combined Heat and Power (CHP)
- 6.4.2.Standby Power

Chapter 7.Global Microturbine Market, by End User

7.1.Market Snapshot
7.2.Global Microturbine Market by End User, Performance - Potential Analysis
7.3.Global Microturbine Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
7.4.Microturbine Market, Sub Segment Analysis
- 7.4.1. Residential
- 7.4.2.Commercial
- 7.4.3.Industrial

Chapter 8.Global Microturbine Market, Regional Analysis

8.1.Top Leading Countries
8.2.Top Emerging Countries
8.3.Microturbine Market, Regional Market Snapshot
8.4.North America Microturbine Market
- 8.4.1.U.S. Microturbine Market
  - 8.4.1.1.Power Rating breakdown estimates & forecasts, 2020-2030
  - 8.4.1.2.Application breakdown estimates & forecasts, 2020-2030
  - 8.4.1.3.End User breakdown estimates & forecasts, 2020-2030
- 8.4.2.Canada Microturbine Market
8.5.Europe Microturbine Market Snapshot
- 8.5.1.U.K. Microturbine Market
- 8.5.2.Germany Microturbine Market
- 8.5.3.France Microturbine Market
- 8.5.4.Spain Microturbine Market
- 8.5.5.Italy Microturbine Market
- 8.5.6.Rest of Europe Microturbine Market
8.6.Asia-Pacific Microturbine Market Snapshot
- 8.6.1.China Microturbine Market
- 8.6.2.India Microturbine Market
- 8.6.3.Japan Microturbine Market
- 8.6.4.Australia Microturbine Market
- 8.6.5.South Korea Microturbine Market
- 8.6.6.Rest of Asia Pacific Microturbine Market
8.7.Latin America Microturbine Market Snapshot
- 8.7.1.Brazil Microturbine Market
- 8.7.2.Mexico Microturbine Market
8.8.Middle East & Africa Microturbine Market
- 8.8.1.Saudi Arabia Microturbine Market
- 8.8.2.South Africa Microturbine Market
- 8.8.3.Rest of Middle East & Africa Microturbine Market

Chapter 9.Competitive Intelligence

9.1.Key Company SWOT Analysis
9.2.Top Market Strategies
9.3.Company Profiles
- 9.3.1. Capstone Turbine Corporation
  - 9.3.1.1.Key Information
  - 9.3.1.2.Overview
  - 9.3.1.3.Financial (Subject to Data Availability)
  - 9.3.1.4.Product Summary
  - 9.3.1.5.Recent Developments
- 9.3.2. Bladon Micro Turbine
- 9.3.3.UAV Turbine
- 9.3.4.Ansaldo Energia
- 9.3.5.Aurelia Turbine
- 9.3.6.MTT Microturbine
- 9.3.7.FlexEnergy Inc.
- 9.3.8.ICR Turbine Engine Corporation
- 9.3.9.Turbo Tech Precision Engineering Pvt., Ltd.
- 9.3.10.Brayton Energy, LLC.

Chapter 10.Research Process

10.1.Research Process
- 10.1.1.Data Mining
- 10.1.2.Analysis
- 10.1.3.Market Estimation
- 10.1.4.Validation
- 10.1.5.Publishing
10.2.Research Attributes
10.3.Research Assumption

LIST OF TABLES

TABLE 1.Global Microturbine Market, report scope
TABLE 2.Global Microturbine Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3.Global Microturbine Market estimates & forecasts by Power Rating 2020-2030 (USD Billion)
TABLE 4.Global Microturbine Market estimates & forecasts by Application 2020-2030 (USD Billion)
TABLE 5.Global Microturbine Market estimates & forecasts by End User 2020-2030 (USD Billion)
TABLE 6.Global Microturbine Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 7.Global Microturbine Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8.Global Microturbine Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9.Global Microturbine Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10.Global Microturbine Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11.Global Microturbine Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12.Global Microturbine Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13.Global Microturbine Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14.Global Microturbine Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15.Global Microturbine Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16.U.S. Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17.U.S. Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 18.U.S. Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19.Canada Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 20.Canada Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 21.Canada Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22.UK Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 23.UK Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 24.UK Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25.Germany Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 26.Germany Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 27.Germany Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28.France Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 29.France Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 30.France Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31.Italy Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 32.Italy Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 33.Italy Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34.Spain Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 35.Spain Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 36.Spain Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37.RoE Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 38.RoE Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 39.RoE Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40.China Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 41.China Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 42.China Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43.India Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 44.India Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 45.India Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46.Japan Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 47.Japan Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 48.Japan Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49.South Korea Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 50.South Korea Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 51.South Korea Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52.Australia Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 53.Australia Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 54.Australia Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55.RoAPAC Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 56.RoAPAC Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 57.RoAPAC Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58.Brazil Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 59.Brazil Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 60.Brazil Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61.Mexico Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 62.Mexico Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 63.Mexico Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64.RoLA Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 65.RoLA Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 66.RoLA Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67.Saudi Arabia Microturbine Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 68.South Africa Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 69.RoMEA Microturbine Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70.List of secondary sources, used in the study of global Microturbine Market
TABLE 71.List of primary sources, used in the study of global Microturbine Market
TABLE 72.Years considered for the study
TABLE 73.Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1.Global Microturbine Market, research methodology
FIG 2.Global Microturbine Market, Market estimation techniques
FIG 3.Global Market size estimates & forecast methods
FIG 4.Global Microturbine Market, key trends 2022
FIG 5.Global Microturbine Market, growth prospects 2023-2030
FIG 6.Global Microturbine Market, porters 5 force model
FIG 7.Global Microturbine Market, pest analysis
FIG 8.Global Microturbine Market, value chain analysis
FIG 9.Global Microturbine Market by segment, 2020 & 2030 (USD Billion)
FIG 10.Global Microturbine Market by segment, 2020 & 2030 (USD Billion)
FIG 11.Global Microturbine Market by segment, 2020 & 2030 (USD Billion)
FIG 12.Global Microturbine Market by segment, 2020 & 2030 (USD Billion)
FIG 13.Global Microturbine Market by segment, 2020 & 2030 (USD Billion)
FIG 14.Global Microturbine Market, regional snapshot 2020 & 2030
FIG 15.North America Microturbine Market 2020 & 2030 (USD Billion)
FIG 16.Europe Microturbine Market 2020 & 2030 (USD Billion)
FIG 17.Asia Pacific Microturbine Market 2020 & 2030 (USD Billion)
FIG 18.Latin America Microturbine Market 2020 & 2030 (USD Billion)
FIG 19.Middle East & Africa Microturbine Market 2020 & 2030 (USD Billion)