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Allied Market Research

Micro Turbine Market: Global Opportunity Analysis and Industry Forecast, 2019–2027

A09600
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Aug 2021 | 205 Views
 
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Micro turbines are small combustion turbines with output range 12KW to 500KW. Micro turbines are small sized fuel flexible turbines, which provide clean source of energy. Micro turbines are of compact size, and have the ability to run on multiple fuels with high efficiency and low cost. Increase in demand for lower emission power generation sources has been a key factor to drive the growth of micro turbine market. Fluctuations in oil prices is one of factors restraining the market growth. Aging grid infrastructure, easy availability of fuel and clean energy, and demand for micro turbines are boosting the market growth. 

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD)

  Segments covered

  Type, Application, Industry Vertical, and Region

  Regions covered

North America (US and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and Middle East and Africa

  Companies covered

Major players analyzed include Capstone Turbine, Ansaldo Energia, Eneftech Innovation, Flex Energy, Aurelia, 247 Solar, Toyota turbine systems, Bowman, Bladon Jets, Brayton Energy, Turbo tech, Calnetix Technologies LLC., Turbine Engine Corporation, Microturbine Technology BV, Wilson Solar Power Corporation, Turbo Tech Precision Engineering Pvt. Ltd,  ICR Turbine Engine Corporation, and MTT Microturbine.


COVID-19 impact:

  • The global market for micro turbines is severely impacted by the outbreak of the COVID-19 pandemic. 
  • The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns. 
  • Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
  • Thus, insufficiency in raw material supply is expected to hamper the production rate of micro turbines, which negatively impact the market growth.
  • However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities. 

Drivers:

Presently, as focus is more toward green energy, the demand for micro turbine is increasing as it offers green energy with limiting or no environment pollution. Owing to increasing environmental concerns for global warming and burning of fossil fuel, the demand for micro turbine is expected to increase, which in turn will drive growth of the market. According to International Energy Agency, worldwide energy utilization increased by 2.3% in 2018, twice than the normal rate in the last 10 years. The expansion was further driven by strong development of the worldwide economy and expanded interest for warming and cooling in certain locales. Growing utilization of petroleum designs secured 70% of the worldwide increment and sustainable power sources contributed around one-fourth of worldwide energy development. The demand for power increases with the rate of 4% and the share of electricity in global energy consumption reached 20% in 2018. As demand for energy increases, it is expected requirements of micro turbine will also increase notably. 

With growing electricity requirement, the demand for micro turbine is also expected to increase. Globally, most electric power is produced from steam-electric power plants. With growing population, it is expected that the demand for electricity will increase significantly. This factor is expected to further increase the demand for micro turbine. Hence, the increasing use of micro turbine is expected to contribute toward the growth of the market. 

Key segments covered:

Segments

Subsegments

  Type

  • Residential microturbine system
  • Industrial microturbine systems
  • Commercial microturbine system
  • others

  Application

  • Aviation & aerospace
  • Military vehicle& Hybrid Power Devices
  • Oilfield   
  • Others

  Industry Vertical

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


Key benefits of the report:

  • This study presents the analytical depiction of the global micro turbine industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global micro turbine market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global micro turbine market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global micro turbine market analysis depending on competitive intensity and how the competition will take shape in coming years. 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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