Microturbine Systems Market Size, Share, Trends, Cap, Price, Forecast 2030

According to the report published by Zion Market Research, the global Microturbine Systems Market size was valued at USD 93.67 Million in 2022 and is predicted to reach USD 189.67 Million by the end of 2030. The market is expected to grow with a CAGR of 10.60% during the forecast period.

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The report analyzes the global Microturbine Systems Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Microturbine Systems Industry.

Global Microturbine Systems Market: Overview

Microturbines are very small gas turbines usually with single stage turbine and a single stage compressor coupled with a generator that uses a variety of fuels for the production of electrical energy. The size of these small combustion turbines is nearly the size of the refrigerator having outputs of 25-500 kW. Heat and electricity are produced on a relatively small scale by these combustion turbines. Microturbines are widely useful for industrial and commercial applications.

Global Microturbine Systems Market: Growth Factors

The global microturbine systems market is growing at a remarkable rate. An increase in inclination towards on-site power generation, growing demand for low-cost power generation, and the presence of poor grid connectivity in low & middle-income countries are some of the prominent factors that are fueling the growth of the global market. Microturbine systems provide numerous advantages over other small-scale power generation technologies including lower electricity cost, lower emission, lightweight, compact size, a small number of moving parts, and ability to utilize waste fuels.

Also, because of its low operation & maintenance cost, relatively low capital cost, automatic electronic control, and small size, microturbines are been adopted by several industries on a large scale. This is capturing a significant share and augmenting the growth of the global microturbine systems market. Moreover, growing concerns of greenhouse gas emission, rise in demand for electricity from small commercial buildings such as retail stores, small offices, motels/hotels, and restaurants are also equally contributing to the growth of the global market. Further, the rise in collaboration among market players for the manufacture of CHP systems is also one of the factors that is spurring the growth of the global market.

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Furthermore, technological advancements for upgrading the features of currently available microturbine systems may lead to significant opportunities for the growth of the global microturbine systems market over the forecast period.

However, low fuel to electricity efficiencies and loss of efficiency & power output with higher ambient temperatures & elevation are some of the factors that may hamper the growth of the global microturbine systems market.

The current outbreak of the Covid-19 is been impacting several industries. Strict lockdown and restriction on movement have enforced the majority of the end-users of microturbine systems including mining, oil & gas, and wastewater treatment industries to cease all their operations during the first half of 2020. The manufactures are also been facing unprecedented challenges owing to disruption in the supply chain and restriction on personnel movement.

This has severely hit the production rate and demand for microturbine systems thereby impacting the growth of the global microturbine systems market. However, in the upcoming years, as the industries gain momentum in the business, the market is expected to grow at a healthy rate.

Global Microturbine Systems Market Report Scope:

Global Microturbine Systems Market: Segmentation

The global microturbine systems market is divided based on type, power rating, application, industry vertical, and region.

Based on the type, the global microturbine systems market is bifurcated into commercial microturbine system, industrial microturbine system, and residential microturbine system.

Based on the power rating, the global market is split into 12 to 50 kW, 50 to 250 kW, and 250 to 500 kW.

The application segment is bifurcated into standby power and combined heat and power (CHP).

The industry vertical segment consists of chemical & petrochemical, healthcare, food & beverages, automotive, energy & power, oil & gas, and others.

Global Microturbine Systems Market: Regional Analysis

Region-wise, North America is estimated to account for the maximum share followed by Europe in the global microturbine systems market over the forecast period. Factors such as an increase in environmental concerns related to greenhouse gas emission, growing demand for on-site power generation, and growing demand for commercial microturbine systems are boosting the growth of the market in the North America region.

On the other hand, Asia Pacific is estimated to grow at a faster rate. This is attributed to the growing demand for electricity and expanding mining and energy & power sectors.

Global Microturbine Systems Market: Competitive Players

Some of the major players in the global microturbine systems market are:

• ICR Turbine Engine Corporation
• Calnetix Technologies LLC.
• Microturbine Technology BV
• Capstone Turbine Corporation
• Bladon Jets
• Flexenergy, Inc.
• Toyota Motor Corporation
• Brayton Energy LLC
• Ansaldo Energia S.P.A.
• Wilson Solarpower Corporation
• others

The Global Microturbine Systems Market: Segmentation

By Type:

• Commercial Microturbine System
• Industrial Microturbine System
• And Residential Microturbine System)

By Power Rating:

• 12 To 50 Kw
• 50 To 250 Kw
• 250 To 500 Kw

By Application:

• Standby Power 
• Combined Heat And Power (CHP)

By Industry Vertical :

• Chemical & Petrochemical
• Healthcare
• Food & Beverages
• Automotive
• Energy & Power
• Oil & Gas
• And Others

By Region:

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.