*Disclaimer: List of key companies in no particular order
Top listed companies in the Micro Turbine industry are:
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)
Competitive Landscape of Oil and Gas Waste Heat Recovery Market: Capturing the Energy Torrent
The oil and gas industry generates a substantial amount of waste heat during exploration, production, and processing. Recovering and utilizing this thermal energy presents a significant opportunity for cost savings, operational efficiency, and environmental sustainability. This has fueled the growth of the oil and gas waste heat recovery (WHR) market, attracting a diverse range of players with distinct strategies and vying for market share.
Key Player Strategies:
Technology Leaders: Global giants like Siemens, Alfa Laval, and GE Power capitalize on their established technology portfolios and extensive service networks. They focus on developing advanced heat exchangers, organic Rankine cycles (ORCs), and combined heat and power (CHP) systems, targeting large-scale oil and gas projects.
Regional Specialists: Regional players like Hangzhou Zhongjin Thermal Technology and Shanghai Electric Group Corporation cater to specific geographical markets with cost-effective and customized WHR solutions. They partner with local oil and gas companies and leverage their understanding of regional regulations and technical requirements.
Emerging Innovators: Startups like Echogen Power and Exergy are bringing disruptive technologies to the market. Echogen develops compact, modular ORC systems, making WHR feasible even for smaller applications. Exergy focuses on innovative waste heat-to-power conversion technologies, addressing challenges like low-grade heat utilization.
Market Share Analysis:
To assess the competitive landscape accurately, several factors come into play:
Technology Portfolio: Players offering a broader range of WHR technologies for various applications and heat sources hold an edge.
Project Execution Expertise: Experience in designing, installing, and commissioning WHR systems for complex oil and gas environments is crucial.
Regional Presence: Strong geographic reach and established relationships with local players in key oil and gas hubs provide a significant advantage.
Cost-Competitiveness: Offering cost-effective and scalable WHR solutions is essential for attracting budget-conscious oil and gas companies.
Sustainability Focus: Integrating WHR solutions with carbon capture and storage (CCS) technologies is becoming increasingly attractive, and players demonstrating proactive sustainability initiatives gain favor.
New and Emerging Trends:
The oil and gas WHR market is witnessing exciting developments:
Integration with Digital Technologies: Digitalization and data analytics are being leveraged to optimize WHR system performance, predict maintenance needs, and improve overall efficiency.
Focus on Low-Grade Heat Utilization: Technological advancements are enabling the recovery and utilization of low-grade waste heat, previously considered uneconomical.
Modular & Packaged Solutions: The demand for pre-engineered and modular WHR units is growing, reducing project lead times and simplifying deployment.
Circular Economy Approach: Integrating WHR with other industrial processes in a closed-loop system is gaining traction, maximizing resource utilization and minimizing waste.
Overall Competitive Scenario:
The oil and gas WHR market is characterized by intense competition, with both established players and innovative startups vying for market share. While technology leadership and project execution expertise remain crucial, cost-effectiveness, sustainability focus, and adaptability to emerging trends will be key differentiators in the years to come. Collaboration between technology providers, oil and gas companies, and government agencies will be essential to unlock the full potential of WHR and drive sustainable development in the industry.
This comprehensive overview provides a glimpse into the dynamic competitive landscape of the oil and gas WHR market. By understanding the key player strategies, market share analysis factors, and emerging trends, stakeholders can make informed decisions and capitalize on the abundant opportunities this rapidly growing market presents.
Latest Company Updates:
Capstone Turbine Corporation (US):
- Announced the release of its C65 model, offering higher efficiency and lower emissions (June 2023, Source: Capstone website).
FlexEnergy, Inc. (US):
- Launched its new M50 and M75 microturbine models with improved performance and reduced noise levels (September 2023, Source: FlexEnergy website).
Ansaldo Energia S.p.A. (Italy):
- Successfully tested its GT25 microturbine for operation on hydrogen fuel (September 2023, Source: Ansaldo Energia website).
Eneftech Innovation SA (Switzerland):
- Commissioned its first 1 MW microturbine system for a district heating project in Switzerland (September 2023, Source: ene.ftech website).
Global Micro Turbine Market Overview:
Micro Turbine Market Size was valued at USD 0.12 Billion in 2022. The Micro Turbine Market industry is projected to grow from USD 0.13 Billion in 2023 to USD 0.28 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.00% during the forecast period (2023 - 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.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Micro Turbine Market Trends
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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, 2022 & 2032 (USD Billion)
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)
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
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North America
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World
- Middle East
- Africa
- Latin America