Micro Turbine Market Trends, Comprehensive Analysis |Industry Trends Forecast To 2023

Micro Turbine Market Research Report- Forecast to 2023

Micro Turbine Market to Grow at 10 % CAGR |Global

Industry Forecast to 2023

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Copyright Š 2018 Market Research Future.

Micro Turbine Market Research Report- Forecast to 2023

1 Summary With the increasing electrical grid modernization, network upgradations, rising fuel prices, and growing energy demand, there is a need for alternative energy sources. Micro turbines are used for cogeneration and as standby power source, which is projected to witness significant demand in the next five years. The increasing need of reliable electric supply and subsequent investment in producing new generation capacity, high productivity, and low carbon discharge features will attribute towards the growth of gas turbine market.

Key Players: The key players of the global micro turbine market are 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) among others.

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Copyright Š 2018 Market Research Future.

Micro Turbine Market Research Report- Forecast to 2023

2 Market Overview Micro turbines are increasingly being used as a distributed energy generation source these days, owing to increasing demand of clean energy, aging grid infrastructure, and easy fuel availability. The focus on green energy generation along with producing heat for industrial & commercial or residential activities, along with increasing demand of cogeneration application is anticipated to shift trends towards micro turbines.

With the growing environmental concerns for global warming, due to burning of fossil fuels, cogeneration application is expected to dominate the micro turbine market during the forecast period.

Global micro turbine market is led by North America, owing to growing awareness of carbon footprint and increased consumption of energy in the region. The U.S. dominates the North America micro turbine market, mainly driven by increased demand for alternative energy sources, and rising number of coal and nuclear power plants to be decommissioned coupled with stringent environmental regulations. In North America, retiring power plants, fluctuating weather situations, and unreliable grid operations are creating growth opportunities for micro turbines market. The region is expected to witness largest market share by 2023.

Global Circulating Fluid Bed Boilers Market: Segmentation

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Copyright Š 2018 Market Research Future.

Micro Turbine Market Research Report- Forecast to 2023

3 Market Research Analysis The cogeneration segment holds the largest share of micro turbine market currently and is expected to continue in the forecast period. Industries are trying to generate their own energy and heat for industrial processes, thereby reducing the dependence on grid power and save energy costs. Cogeneration application is the largest market for micro turbine as it helps reduce carbon emissions by reducing the use of fossil fuels, and produce clean energy. Micro turbine market is projected to have significant growth due to increasing energy demand, rising concerns and strict environmental regulations.

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Copyright Š 2018 Market Research Future.

Micro Turbine Market Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.