Micro Turbines Market

Segmentation by Application (Combined Heat, and Standby Power); by Power Rating (12–50 kW, 50–250 kW, and 250–500 kW); and by End User (Industrial, Commercial, and Residential) – Global Demand Analysis & Opportunity Outlook 2030

Buy Now
Report ID: 3733 | Published On: Feb 07, 2023
Request Free Sample Copy

Global Micro Turbines Market Regional Synopsis

On the basis of geographical analysis, the global micro turbines market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America is estimated to grab the largest share over the forecast period on the back of the large number of aging power plants, and government initiatives to improve energy infrastructure in the region. In addition, strong presence of major market players is also predicted to drive market growth in the region in the coming years. Moreover, Europe is anticipated to be the second largest shareholder in the market during the forecast period attributing to the stringent government regulations regarding reducing emissions, and increasing establishment of micro turbines, especially in Norway, Netherlands and Finland. As per the European Climate Law, Europe’s economy and society are projected to become climate-neutral by 2050. The law sets the intermediate target of reducing greenhouse emissions by at least 55 percent by 2030, compared to the 1990 levels.

Micro Turbines Market Share Graph

Get more information on this reportDownload Sample PDF

The global micro turbines market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Micro Turbines Market Graph
Get more information on this report: Request Sample PDF

Major Macro-Economic Indicators Impacting the Market Growth

Electricity Consumption Graph

In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-7imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Market Segmentation

Our in-depth analysis of the global micro turbines market includes the following segments:

By Application

  • Combined Heat
  • Power Standby Power

By Power Rating

  • 12–50 Kw
  • 50–250 kW
  • 250–500 kW

By End User

  • Industrial
  • Commercial
  • Residential

Growth Drivers

  • Growing Demand for Electricity Worldwide
  • Increasing Replacement of Phased-Out Nuclear and Coal Plants


  • High Level of Competition from Present Distributed Power Generation Equipment

Electricity Consumption Graph
Get more information on this report: Request Sample PDF

Top Featured Companies Dominating the Market

    • Brayton Energy LLC
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Toyota Motor Corporation
    • Capstone Turbine Corporation
    • Ansaldo Energia S.P.A.
    • ICR Turbine Engine Corporation
    • NewEnCo.
    • Eneftech Innovation SA
    • Wilson Solarpower Corporation
    • Bladon Micro Turbine
    • Bowman Consulting

In The News

  • November 2021- UK firm Bladon Micro Turbine is working with engineers from Loughborough University’s National Centre for Combustion and Aerothermal Technology to develop a micro turbine engine that can run on kerosene and diesel to make it compatible with hydrogen.

  • December 2020- Ansaldo Energia signed a USD 57.24 million contract with Synthos, a Polish company for the supply of an 80 MW AE64.3 gas turbine.

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the micro turbines market?

Ans: The major factors driving market growth are growing demand for electricity worldwide, and increasing replacement of phased-out nuclear and coal plants.

2) What would be the CAGR of micro turbines market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the micro turbines market growth?

Ans: High level of competition from existing distributed power generation equipment is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of micro turbines market in future?

Ans: North America will provide more business opportunities for market growth owing to the large number of aging power plants in the region.

5) Who are the major players dominating the micro turbines market?

Ans: The major players in the market are Brayton Energy LLC, Toyota Motor Corporation, Capstone Turbine Corporation, Ansaldo Energia S.P.A., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the micro turbines market?

Ans: The market is segmented by application, power rating, end user, and by region.

8) Which segment captures the largest market size in the end user segment in the micro turbines market?

Ans: The industrial segment is anticipated to hold largest market size in value and is estimated to grow at a steady CAGR over the forecast period and display significant growth opportunities.

Let Us Hear About Your Requirements:

Submit Your Request For Proposal (RFP)

Request Research Report Sample