Report Code: A09600 | Pages: NA | Mar 2023 | 1418 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Micro Turbine Market
Request Now !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.Â
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:
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.Â
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.Â
Key segments covered:
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Micro Turbine Market: Global Opportunity Analysis and Industry Forecast, 2019–2027 Report Highlights
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Key Market Players | 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 Corporatio, MTT Microturbine. |
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