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Micro Turbine Market Research Report Information By Application (Cogeneration And Standby Power), By Power Rating (12 kW -50 kW, 50 kW-250 kW, 250 kW-500 kW), By End-Use (Industrial, Commercial, Residential) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

ID: MRFR/E&P/2767-HCR | 111 Pages | Author: Priya Nagrale| May 2024

Global Micro Turbine Market Overview:

Micro Turbine Market Size was valued at USD 0.13 Billion in 2023. The Micro Turbine Market industry is projected to grow from USD 0.14 Billion in 2024 to USD 0.28 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.76% during the forecast period (2024 - 2032). Increased demand for alternative energy sources, as well as the decommissioning of an increasing number of coal and nuclear power stations, along with rigors environmental laws are the key market drivers enhancing the market growth.

Global Micro Turbine Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Micro Turbine Market Trends

  • Growing Electricity Demand to Aid Market Growth

Power consumption is increasing internationally as the world's population expands rapidly, driving the market CAGR for micro turbines. The expansion of infrastructure adds significantly to the increase in electricity demand. Industrialisation is also rising in several developing nations, and various smart cities and smart building projects are being launched in several countries, which will boost energy demand. To fulfil energy demand, both the public and commercial sectors are growing powerhouse capabilities, either by constructing new powerhouses or increasing power plant capacity. These projects are mostly putting in gas-powered turbines since they are more cost-effective and emit fewer hazardous pollutants. Furthermore, the government has imposed stringent pollution standards, forcing businesses to adopt these turbines on a massive scale. During the forecast period, these factors fuel market expansion.

The rapid expansions of renewable energy installations around the world as people become more concerned about environmental safety. Several governments have begun to focus on enforcing renewable energy sources in order to curb rising levels of air pollution. To reduce pollution, the government has also implemented severe emission standards. investment in the combined heat and power industry is also skyrocketing. The CH commands the lion's share of the market for the installation of such turbines. As a result, during the predicted period, promotes market growth.

However, present technologies are incapable of efficiently tapping and using renewable energy sources to generate power. On the contrary, nonrenewable energy sources such as oil, gas, and coal-fired power plants, while contributing to the majority of power generation, have a substantial environmental impact. carbon dioxide emissions exceeded 30 billion metric tonnes in 2010 and were anticipated to exceed 35 billion metric tons by 2020, according to the US Energy Information Administration. As a result, the development of alternative energy generation techniques such as microturbines has expanded. As a result of these factors, the worldwide microturbine systems market is predicted to increase during the forecast period.

Micro Turbine Market Segment Insights:

Micro Turbine Application Insights

The Micro Turbine Market segmentation, based on application includes cogeneration and standby power. During the projected period, the standby power segment is expected to increase at a rapid pace. During a power outage, commercial establishments employ standby power. Because of the spike in demand for electricity, the demand for standby power is increasing. As a result, this element is propelling the segment's expansion.

Micro Turbine Power Rating Insights

The Micro Turbine Market segmentation, based on power rating, includes 12 kW -50 kW, 50 kW-250 kW, 250 kW-500 kW. During the projection period, the 50-250 kW category is expected to hold the majority of the market share. Microturbines with power ratings ranging from 51kW to 250kW are widely used in commercial and industrial applications around the world. Globally, the use of combined heat and power plants is rapidly rising. As CH plants replace nuclear and coal facilities, there is an increase in demand for turbines with high power ratings.

Micro Turbine End-user Insights

The Micro Turbine Market segmentation, based on end-User includes industrial, commercial, residential. During the projection period, the industrial segment is expected to have a leading market share. These turbines are widely used in a variety of industries, including oil and gas, mining, construction, wastewater treatment, and others. The oil and gas industries, as well as the construction industry, are both expanding rapidly, creating demand for such turbines. As a result, growth in this area is expected during the projection period.

Figure 1: Micro Turbine Market, by Distribution Channel, 2024 & 2032 (USD Billion)

Micro Turbine Market, by Distribution channel, 2022 & 2032

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Micro Turbine Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. In 2022, North America dominated the micro turbines market. The United States dominated the North American micro turbines market. The growing demand for micro turbines in the pharmaceutical, construction, and mining sectors is propelling the expansion of the North American micro turbines market. Furthermore, increased government initiatives for infrastructure development are encouraging the rise of the micro turbines market in the area during the forecast period.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: Micro Turbine Market Share By Region 2022 (USD Billion)

Micro Turbine Market Share By Region 2022

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Micro Turbine Market accounts for the second-largest market share due to the growing demand for clean and green energy is also propelling the micro turbines industry forwards. The European Union is likewise investing extensively in clean fuel technology. As a result, this aspect is paving the way for the expansion of the micro turbines market in Europe. Further, the German Micro Turbine Market held the largest market share, and the UK Micro Turbine Market was the fastest growing market in the European region

The Asia-Pacific Micro Turbine Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to growing demand for energy in densely populated nations such as India and China drives the micro turbine industry in this region. Moreover, China’s Micro Turbine Market held the largest market share, and the Indian Micro Turbine Market was the fastest growing market in the Asia-Pacific region.

Micro Turbine Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Micro Turbine Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Micro Turbineindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Micro Turbine industry to benefit clients and increase the market sector. In recent years, the Micro Turbine industry has offered some of the most significant advantages to medicine. Major players in the Micro Turbine Market, including Wilson Solar power Corporation (U.S.), ICR Turbine Engine Corporation (U.S.), Calnetix Technologies LLC (U.S.), Toyota Motor Corporation (Japan), and Bladon Jets (Isle of Man). and others, are attempting to increase market demand by investing in research and development operations.

Capstone Green Energy, formerly Capstone Turbine Corporation, was founded in 1988 as a gas turbine manufacturer based in California that specialises in microturbine power as well as heating and cooling cogeneration systems. The use of air bearings, which offers maintenance-free operation and lowers the system to a single moving part, is central to the Capstone design. This also eliminates the requirement for any additional cooling or auxiliary systems. The Capstone microturbine is a versatile and dispatchable technology with fuel flexibility and scalability to suit a wide range of applications. In July 2021, Capstone Green Energy Corporation delivered two C65 microturbines to Innovametall Stahl und Metallbau for use in a very low emission combined heat and power (CHP) system. The transaction was secured by Wels Strom GmbH, a Capstone distributor in Austria and Germany. This was the first hydrogen-powered gas turbine in Europe.

Bladon, formerly known as Bladon Jets, is a pioneer in the design, development, and manufacture of Micro Turbine Gensets (MTGs) that use high-speed, ultra-reliable, and clean-burning microturbines. This British company creates microturbines that can generate up to 12 kW of electricity. Bladon is a British business that collaborated with Jaguar Land Rover on the development of Automotive Range Extenders. In January 2019, Bladon Microturbine signed a production supply agreement with Gridserve. Under the multi-million dollar agreement, the revolutionary Bladon MTG12 will be integrated into Gridserve's 12 kW solar hybrid power package.

Key Companies in the Micro Turbine market include

  • Capstone Turbine Corporation (US)

  • FlexEnergy, Inc. (US)

  • Ansaldo Energia S.p.A. (Italy)

  • Brayton Energy, LLC (US)

  • Eneftech Innovation SA (Switzerland)

  • Microturbine technology BV (the Netherlands)

  • Wilson Solarpower Corporation (US)

  • ICR Turbine Engine Corporation (US)

  • Calnetix Technologies LLC. (US)

  • Toyota Motor Corporation (Japan)

  • Bladon Jets (Isle of Man)

Micro Turbine Industry Developments

In March 2019, Capstone signed a national account agreement with GESS Inc. and won a 9.6 MW order for several US renewable natural gas projects. The 9.6 MW is made up of 12 signature series microturbines, according to the agreement.

In April 2019, Capstone Turbine Corp. introduced the Capstone C200S microturbine, expanding their Signature Series range of microturbines. According to the business, the 200 kW C200S microturbine contains numerous systems and design upgrades aimed at improving overall product quality, dependability, and performance. The new product is excellent for applications such as combined heat and power (CHP) and combined cooling, heat, and power (CCHP).

In October 2020, Greenway Energy Solutions partnered with Aurelia to increase business for its A400 gas turbine throughout Europe, the Middle East, and Asia.

Micro Turbine Market Segmentation:

Micro Turbine Market By Application Outlook

  • Cogeneration

  • Standby Power

Micro Turbine Market By By Power Rating Outlook

  • 12 kW -50 kW

  • 50 kW-250 kW

  • 250 kW-500 kW

Micro Turbine Market By End-Use Outlook

  • Industrial

  • Commercial

  • Residential

Micro Turbine Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

Report Attribute/Metric Details
Market Size 2023 USD 0.13 Billion
Market Size 2024 USD 0.14 Billion
Market Size 2032 USD 0.28 Billion
Compound Annual Growth Rate (CAGR) 8.76% (2024-2032)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Application, Power Rating, End-User, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled  Capstone Turbine Corporation (U.S.), FlexEnergy, Inc. (U.S.), Ansaldo Energia S.p.A (Italy), and 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).
Key Market Opportunities Power plants that are being retired
Key Market Dynamics Demand for alternate energy sources is increasing.

Frequently Asked Questions (FAQ) :

The Micro Turbine Market size was valued at USD 0.13 Billion in 2023.

The market is projected to grow at a CAGR of 8.76% during the forecast period, 2024-2032.

North America had the largest share in the market

The key players in the market are 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).

The 50-250 kW category dominated the market in 2022.

The industrial had the largest share in the market.

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