Industrial Microturbine Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Power Rating (Up to 50 kW, 51 kW-250 kW, 251-500 kW, and 501-1000 kW), By Application (Combined Heat & Power (CHP) and Standby Power), By Region, Competition Forecast 2018-2028

  • Industry : Power
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 98.37 Million

CAGR (2023-2028)

10.24%

Fastest Growing Segment

Combined Heat & Power (CHP)

Largest Market

Asia Pacific


Market Overview

Global Industrial Microturbine Market has valued at USD 98.37 million in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 10.24% through 2028. The increasing need and demand for low-emission energy generation are fueling the expansion of the global Industrial Microturbine market. Moreover, the surge in demand for clean and sustainable energy is driving the global Industrial Microturbine market throughout the forecast period. Growing environmental concerns and pollution levels are stimulating the demand for Industrial Microturbines in the global market. Additionally, economic advancements are contributing to the growth and development of the global industrial Microturbine market.

Key Market Drivers

Growing Demand for Clean and Distributed Energy Generation

The global Industrial Microturbine market is primarily driven by the increasing demand for clean and distributed energy generation solutions. With a growing emphasis on environmental sustainability and reducing greenhouse gas emissions, there is a shift towards cleaner and more efficient energy technologies. Industrial Microturbines present an attractive solution as they can operate on a variety of fuels, including natural gas, biogas, and renewable fuels, while emitting lower levels of pollutants compared to conventional fossil-fueled power generation. Industrial Microturbines are well-suited for distributed energy generation applications, where power is produced in close proximity to the point of consumption, resulting in reduced transmission and distribution losses. These versatile systems find applications in combined heat and power (CHP) systems, microgrids, and off-grid power generation projects. By providing a decentralized approach to energy production, they enhance energy efficiency and grid resilience. The increasing adoption of microgrids, particularly in remote and off-grid locations, further fuels the demand for Industrial Microturbines. In such settings, Industrial Microturbines offer a reliable and cost-effective solution for providing electricity and heat to communities, industrial facilities, and commercial establishments. Moreover, the ability of Industrial Microturbines to complement intermittent renewable energy sources, such as solar and wind power, enhances the overall reliability and stability of distributed energy systems.

Favorable Government Policies and Incentives

Government policies and incentives play a crucial role in promoting the adoption of Industrial Microturbines and driving the global market. Many countries have implemented supportive policies to encourage the development and deployment of distributed energy generation technologies, including Industrial Microturbines. Governments worldwide are increasingly recognizing the importance of clean energy and decentralized power generation in achieving climate goals and improving energy security. Consequently, various financial incentives, tax credits, grants, and feed-in tariffs are offered to businesses and consumers investing in Industrial Microturbine installations. These incentives significantly reduce the upfront capital costs and improve the return on investment, making microturbine projects more economically viable. Moreover, regulatory frameworks and mandates related to renewable energy integration and emissions reduction create a conducive environment for microturbine adoption. In certain regions, microturbines may be eligible for renewable energy certificates or carbon credits, further enhancing their attractiveness as sustainable energy solutions.

Increasing Focus on Energy Efficiency

The global microturbine market is poised for significant growth in the coming years, primarily driven by an increasing focus on energy efficiency across industries and the growing demand for cleaner and more sustainable energy solutions. Microturbines, compact and versatile power generation devices, have emerged as a promising technology that aligns perfectly with the global drive towards energy efficiency and sustainability.

One of the key factors propelling the microturbine market is the heightened awareness of the environmental impacts of traditional energy sources. As concerns over greenhouse gas emissions and climate change intensify, governments and businesses worldwide are actively seeking ways to reduce their carbon footprint. Microturbines offer an efficient and low-emission solution, making them an attractive option for distributed power generation in various applications. The push for energy efficiency is not limited to environmental considerations; it also carries significant economic benefits. Microturbines are renowned for their high energy efficiency levels, often exceeding 80%, making them a cost-effective choice for both industrial and commercial users. Their compact size and ability to operate on various fuels, including natural gas and renewable gases, further enhance their appeal. This flexibility allows microturbines to be integrated seamlessly into existing infrastructure, providing reliable power generation while minimizing energy wastage.

Furthermore, the growing trend towards decentralized energy systems and the need for reliable backup power sources have bolstered the demand for microturbines. These systems are particularly suited for applications where grid stability is a concern, such as remote locations, critical facilities, and microgrids. In conclusion, the global microturbine market is on an upward trajectory, and the increasing emphasis on energy efficiency is a primary driver behind this growth. As industries and governments worldwide seek cleaner and more sustainable energy solutions to combat climate change and reduce operating costs, microturbines are emerging as a compelling choice. Their efficiency, versatility, and adaptability to various applications make them a critical player in the transition towards a more energy-efficient and environmentally responsible future.

 

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Key Market Challenges

High Initial Investment Cost

The global microturbine market, while exhibiting significant potential and advantages, faces a significant challenge in the form of high initial investment costs. These upfront expenses can deter potential buyers and hinder the widespread adoption of microturbine technology across various sectors. One of the primary factors contributing to the high initial investment cost of microturbines is the technology's relatively advanced and specialized nature. Microturbines are precision-engineered devices that require high-quality materials and components to function effectively and efficiently. This results in higher manufacturing and procurement costs compared to more conventional power generation technologies.

Additionally, the integration of microturbines into existing infrastructure or the development of dedicated CHP systems can entail substantial expenses. Installation costs may include site preparation, electrical connections, and the need for specialized personnel with expertise in microturbine installation and maintenance. These costs can be a barrier for many potential customers, especially smaller businesses and industries with limited capital budgets. Moreover, the high initial investment cost of microturbines can overshadow the long-term cost-saving benefits they offer. While microturbines are known for their energy efficiency and potential for reducing operational costs over time, the substantial upfront expenses can deter potential buyers who focus primarily on short-term financial considerations.

Another challenge related to high initial costs is the need for convincing stakeholders and decision-makers about the return on investment (ROI) associated with microturbines. Demonstrating the long-term economic benefits and environmental advantages of microturbine technology is crucial to overcoming resistance to the initial investment.

However, it's worth noting that efforts are underway to mitigate these challenges. Government incentives, subsidies, and tax credits are often available to encourage the adoption of energy-efficient technologies like microturbines. Manufacturers are also working to develop more cost-effective microturbine solutions and streamline the installation process, which may help reduce the upfront expenses associated with this technology. In conclusion, the high initial investment cost remains a significant obstacle in the global microturbine market. While microturbines offer compelling advantages in terms of energy efficiency and environmental sustainability, potential buyers must carefully evaluate the initial expenses and consider long-term benefits to make informed investment decisions. Collaboration between manufacturers, governments, and industry stakeholders will play a crucial role in addressing this challenge and promoting wider adoption of microturbine technology.

Grid Integration and Power Quality

Another challenge faced by the global microturbine market is the integration of the grid and issues related to power quality. Microturbines are commonly utilized in distributed energy generation applications, such as combined heat and power (CHP) systems, remote power generation, and microgrid installations. In these applications, the seamless integration and synchronization of microturbines with the utility grid or other power sources are crucial. The integration challenges arise due to the fluctuating nature of renewable energy sources, like solar and wind power, which are often combined with microturbines in hybrid energy systems. To manage load variations and ensure grid stability during transient conditions, microturbines must be equipped with sophisticated control systems. Moreover, maintaining seamless grid synchronization during grid blackouts and reconnection events is of utmost importance to uphold power quality and prevent grid disruptions. Another concern is power quality when integrating microturbines with the utility grid. To ensure smooth power delivery to end-users, microturbines need to adhere to stringent power quality standards, including voltage regulation, frequency stability, and low harmonic distortion. Any deviation from these standards can result in equipment malfunctions, damage to sensitive electronic devices, and potential penalties imposed by regulatory authorities.

Key Market Trends

Integration of Microturbines in Hybrid Energy Systems

One of the significant trends observed in the global microturbine market is the increasing integration of microturbines in hybrid energy systems. These systems combine multiple energy sources, including microturbines, solar photovoltaics (PV), wind turbines, energy storage, and traditional generators, to create a more reliable, efficient, and sustainable power generation solution. Microturbines play a crucial role in hybrid systems by providing a stable and efficient power source that complements intermittent renewable energy sources like solar and wind. The flexibility of microturbines to operate on various fuels, such as natural gas, biogas, and hydrogen, enables them to adapt to different energy mixes, optimizing system performance based on fuel availability and demand. In hybrid microgrid applications, microturbines act as the backbone of the system, providing continuous baseload power to meet the minimum demand. Solar and wind sources then supplement the microturbine output during periods of high renewable energy production, reducing the reliance on fossil fuels and lowering operating costs. The integration of energy storage technologies, such as batteries, allows for the storage of excess renewable energy and its discharge during peak demand or when renewable sources are unavailable. The integration of microturbines in hybrid energy systems offers several advantages. Firstly, it enhances overall energy efficiency and system stability by optimizing the use of renewable and non-renewable resources. Secondly, it reduces greenhouse gas emissions and supports sustainability goals by displacing a portion of the energy generated from fossil fuels. Lastly, the combination of multiple energy sources increases the reliability and resilience of the power system, ensuring continuous power supply even in the event of a grid outage. As the focus on decarbonization and renewable energy integration continues to grow, the trend of integrating microturbines in hybrid energy systems is expected to gain momentum, driving the expansion of the global microturbine market.

Growing Interest in Combined Heat and Power (CHP) Systems

The global microturbine market is experiencing a significant boost due to the growing interest in Combined Heat and Power (CHP) systems, also known as cogeneration. CHP systems are becoming increasingly popular across various industries and sectors, and microturbines are emerging as a key technology driving this trend. CHP systems are designed to maximize energy efficiency by simultaneously generating electricity and capturing waste heat for heating or cooling purposes. This integrated approach significantly reduces energy wastage, making CHP systems an attractive option for those seeking to optimize energy use while minimizing costs and environmental impact.

Microturbines are a natural fit for CHP applications due to their compact size, high energy efficiency, and versatility. They are capable of efficiently converting a variety of fuels, including natural gas, biogas, and hydrogen, into electricity and usable heat. This flexibility allows microturbines to be deployed in diverse settings, from industrial facilities and commercial buildings to residential complexes. One of the key drivers behind the growing interest in CHP systems is the desire to reduce energy bills and carbon emissions simultaneously. By capturing and utilizing waste heat that would otherwise be wasted in traditional power generation, CHP systems powered by microturbines can achieve overall energy efficiencies of over 80%, a significant improvement compared to conventional methods.

Industries with high thermal energy demands, such as manufacturing, food processing, and healthcare, are increasingly turning to microturbine-based CHP solutions to cut operating costs and enhance their environmental sustainability. Additionally, the ability of CHP systems to provide reliable power during grid outages makes them a valuable asset for critical facilities, including hospitals and data centers.

Furthermore, government incentives and environmental regulations aimed at reducing greenhouse gas emissions and promoting energy efficiency are bolstering the adoption of CHP systems and, by extension, the microturbine market. These incentives often come in the form of tax credits, rebates, and favorable tariffs for CHP installations. In conclusion, the growing interest in Combined Heat and Power (CHP) systems is a pivotal driver behind the global microturbine market's growth. As industries and businesses seek ways to enhance energy efficiency, reduce carbon footprints, and cut energy costs, microturbine-based CHP systems offer a compelling solution that aligns with both economic and environmental objectives. This trend is expected to continue driving the expansion of the microturbine market in the coming years.

Segmental Insights

End User Insights

Combined Heat and Power (CHP) is poised to dominate the market during the forecast period. Also known as cogeneration, CHP represents a highly advantageous application of microturbines in the global energy landscape. CHP systems effectively generate both electricity and useful heat from a single fuel source, providing substantial energy efficiency improvements and environmental advantages. Microturbines are well-suited for CHP applications due to their compact size, high efficiency, and fuel flexibility, making them a pivotal component in decentralized energy generation. CHP finds particular favor in industries, commercial buildings, healthcare facilities, and district heating applications that require simultaneous electricity and thermal energy supply.

 

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Regional Insights

North America plays a significant role in the global industrial microturbine market, with the United States and Canada being the primary contributors to industry growth. The region's robust industrial base, advanced technology adoption, and increasing focus on clean energy solutions drive the demand for microturbines across various applications. Moreover, the extensive use of natural gas, availability of renewable fuels, and supportive government policies further enhance the adoption of microturbine systems. The North American microturbine market is characterized by the presence of well-established manufacturers, system integrators, and service providers. The region has witnessed a growing interest in distributed energy generation, fueled by the desire for energy independence, resilience, and sustainability. Microturbines, with their compact size, low emissions, and ability to operate on multiple fuels, are highly suitable for decentralized power generation in urban and remote areas. Various government incentives, tax credits, and grants provided by federal and state authorities encourage the deployment of microturbine systems. Additionally, renewable energy standards, emissions reduction targets, and net metering programs incentivize end-users to invest in microturbines for both clean energy generation and financial benefits.

Recent Developments

  • In October 2017, Aurelia forged a partnership with Greenray Energy Solutions to expand business opportunities for its A400 gas turbine in the UK, Asia, and the Middle East.
  • During September 2017, Capstone Turbine's energy financing joint venture, Capstone Energy Finance, executed a 5-year agreement with a prominent greenhouse operation in Colorado, US. The company would be installing multiple propane-fired C65 micro turbines to supply electricity for the greenhouse.
  • In July 2017, Capstone Turbine's Australian distributor, Optimal Group, secured a follow-on CHP order consisting of a C600S Signature Series micro turbine and 4 C200S Signature Series micro turbines. These turbines will generate electricity for three office towers in Melbourne's Central Business District.
  • In April 2017, MTT entered into an agreement with the Dutch contract manufacturer, Addit BV, for the production of commercial EnerTwin micro CHP systems targeting the European market.
  • In April 2017, Capstone Turbine partnered with FGC Plasma Solutions LLC (US) for the testing of an innovative plasma-assisted fuel injection technology in its C65 micro turbine.

Key Market Players

  • Capstone Turbine Corporation
  • FlexEnergy, Inc.
  • Ansaldo Energia S.p.A.
  • Brayton Energy, LLC
  • Eneftech Innovation SA
  • Microturbine technology BV
  • Wilson Solarpower Corporation
  • ICR Turbine Engine Corporation
  • Calnetix Technologies LLC
  • Toyota Motor Corporation       

By Power Rating

By Application

By Region
  • Up to 50 kW
  • 51 kW-250 kW
  • 251-500 kW
  • 501-1000 kW
  • North America
  • Europe
  • Latin America
  • Middle East & Africa
  • Asia Pacific

                                                                                                                                  

Report Scope:

In this report, the Global Microturbine Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Industrial Microturbine Market, By Power Rating:

o   Up to 50 kW

o   51 kW-250 kW

o   251-500 kW

o   501-1000 kW 

  • Global Industrial Microturbine Market, By Application:

o   Combined Heat & Power (CHP)

o   Standby Power

  • Global Industrial Microturbine Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Indonesia

o   Europe

§  Germany

§  United Kingdom

§  France

§  Russia

§  Spain

o   South America

§  Brazil

§  Argentina

o   Middle East & Africa

§  Saudi Arabia

§  South Africa

§  Egypt

§  UAE

§  Israel

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Microturbine Market.

Available Customizations:

Global Microturbine Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

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Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.3.  Markets Covered

1.4.  Years Considered for Study

1.5.  Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

4.    Voice of Customers

5.    Global Industrial Microturbine Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Power Rating (Up to 50 kW, 51 kW-250 kW, 251-500 kW, and 501-1000 kW)

5.2.2.    By Application (Combined Heat & Power (CHP) and Standby Power)

5.2.3.    By Region

5.3.  By Company (2022)

5.4.  Market Map

6.    North America Industrial Microturbine Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Power Rating

6.2.2.    By End-User

6.2.3.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Industrial Microturbine Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Power Rating

6.3.1.2.2.           By Application

6.3.2.    Canada Industrial Microturbine Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Power Rating

6.3.2.2.2.           By Application

6.3.3.    Mexico Industrial Microturbine Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Power Rating

6.3.3.2.2.           By Application

7.    Asia-Pacific Industrial Microturbine Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Power Rating

7.2.2.    By Application

7.2.3.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China Industrial Microturbine Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Power Rating

7.3.1.2.2.           By Application

7.3.2.    India Industrial Microturbine Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Power Rating

7.3.2.2.2.           By Application

7.3.3.    Japan Industrial Microturbine Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Power Rating

7.3.3.2.2.           By Application

7.3.4.    South Korea Industrial Microturbine Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Power Rating

7.3.4.2.2.           By Application

7.3.5.    Indonesia Industrial Microturbine Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Power Rating

7.3.5.2.2.           By Application

8.    Europe Industrial Microturbine Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Power Rating

8.2.2.    By Application

8.2.3.    By Country

8.3.  Europe: Country Analysis

8.3.1.    Germany Industrial Microturbine Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Power Rating

8.3.1.2.2.           By Application

8.3.2.    United Kingdom Industrial Microturbine Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Power Rating

8.3.2.2.2.           By Application

8.3.3.    France Industrial Microturbine Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Power Rating

8.3.3.2.2.           By Application

8.3.4.    Russia Industrial Microturbine Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Power Rating

8.3.4.2.2.           By Application

8.3.5.    Spain Industrial Microturbine Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Power Rating

8.3.5.2.2.           By Application

9.    South America Industrial Microturbine Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Power Rating

9.2.2.    By Application

9.2.3.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Industrial Microturbine Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Power Rating

9.3.1.2.2.           By Application

9.3.2.    Argentina Industrial Microturbine Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Power Rating

9.3.2.2.2.           By Application

10. Middle East & Africa Industrial Microturbine Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Power Rating

10.2.2. By Application

10.2.3. By Country

10.3.             Middle East & Africa: Country Analysis

10.3.1.  Saudi Arabia Industrial Microturbine Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Power Rating

10.3.1.2.2.         By Application

10.3.2. South Africa Industrial Microturbine Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Power Rating

10.3.2.2.2.         By Application

10.3.3. UAE Industrial Microturbine Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Power Rating

10.3.3.2.2.         By Application

10.3.4. Israel Industrial Microturbine Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Power Rating

10.3.4.2.2.         By Application

10.3.5. Egypt Industrial Microturbine Market Outlook

10.3.5.1.     Market Size & Forecast

10.3.5.1.1.         By Value

10.3.5.2.     Market Share & Forecast

10.3.5.2.1.         By Power Rating

10.3.5.2.2.         By Application

11. Market Dynamics

11.1.   Drivers

11.2.   Challenge

12. Market Trends & Developments

13. Company Profiles

13.1.             Capstone Turbine Corporation

13.1.1. Business Overview

13.1.2. Key Revenue and Financials

13.1.3. Recent Developments

13.1.4. Key Personnel

13.1.5. Key Product/Services

13.2.             FlexEnergy, Inc.

13.2.1. Business Overview

13.2.2. Key Revenue and Financials

13.2.3. Recent Developments

13.2.4. Key Personnel

13.2.5. Key Product/Services

13.3.             Ansaldo Energia S.p.A

13.3.1. Business Overview

13.3.2. Key Revenue and Financials

13.3.3. Recent Developments

13.3.4. Key Personnel

13.3.5. Key Product/Services

13.4.             Brayton Energy LLC

13.4.1. Business Overview

13.4.2. Key Revenue and Financials

13.4.3. Recent Developments

13.4.4. Key Personnel

13.4.5. Key Product/Services

13.5.             Eneftech Innovation SA

13.5.1. Business Overview

13.5.2. Key Revenue and Financials

13.5.3. Recent Developments

13.5.4. Key Personnel

13.5.5. Key Product/Services

13.6.             Industrial Microturbine technology BV

13.6.1. Business Overview

13.6.2. Key Revenue and Financials

13.6.3. Recent Developments

13.6.4. Key Personnel

13.6.5. Key Product/Services

13.7.             Wilson Solarpower Corporation

13.7.1. Business Overview

13.7.2. Key Revenue and Financials

13.7.3. Recent Developments

13.7.4. Key Personnel

13.7.5. Key Product/Services

13.8.             ICR Turbine Engine Corporation

13.8.1. Business Overview

13.8.2. Key Revenue and Financials

13.8.3. Recent Developments

13.8.4. Key Personnel

13.8.5. Key Product/Services

13.9.             Calnetix Technologies LLC

13.9.1. Business Overview

13.9.2. Key Revenue and Financials

13.9.3. Recent Developments

13.9.4. Key Personnel

13.9.5. Key Product/Services

14. Strategic Recommendations

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Figures and Tables

Frequently asked questions

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The market size of the Global Microturbine Market was USD 98.37 Million in 2022.

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The Global Microturbine Market is dominated by the Combined Heat and Power (CHP) segment in 2022.

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High Initial Investment Cost and Grid Integration and Power Quality are some of the challenges in the growth of the market.

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Favorable Government Policies and Incentives and growing demand for clean and distributed energy generation are some of the major drivers in the global Microturbine Market.

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Parvati Sharma

Account Manager BD
Press Release

Combined Heat & Power (CHP) Sector is Expected to Dominate the Global Industrial Microturbine Market

Oct, 2023

Increasing global electricity demand & subsequent investments in power plants are a major factor attributable to the growth of the market.

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