Microturbines Market Size & Share, by Application (Combined Heat, Power, Standby Power); Power Rating (12-50 kW, 50-250 kW, 250-500 kW); End-user (Industrial, Commercial, Residential) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3733
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Microturbines Market size is estimated to reach USD 207 Billion by the end of 2035, growing at a CAGR of 10% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of microturbines was over USD 66 Billion. The increasing demand for electricity across the world owing to the burgeoning population and the rising installation of power distribution grids are expected to propel market growth.

The growing demand for clean energy due to people's growing concern about environmental safety and the growing emphasis on reducing greenhouse gas emissions globally is expected to accelerate microturbines market growth shortly. Global carbon emissions are expected to exceed 38 billion tons in 2021, up from 30 billion tons in 2000.

In addition to these, the increasing powerhouses and the elevating investments in several distributed generation applications to provide electricity during power outages, specifically during the occurrence of natural calamities are anticipated to boost market growth during the forecast period.

Microturbine Market
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Microturbines Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand from Several End-Use Industries – Microturbines are in high demand for biogas applications, particularly cogeneration in wastewater treatment plants, farms, and landfills. Furthermore, their increasing application in mining, oil and gas, construction, automotive, and pharmaceutical industries, as well as the growing demand for hydropower plants and micro wind turbines to generate electricity for small-scale use, is driving market growth.
  • Increasing Demand for On-site Power Generation – With the rising energy transition to renewable energy and the growing popularity of distributed energy, there is a surge in the transition to in-site energy production. On-site power generation upgrades energy density, lowers transmission line losses, and eliminates conversion losses. As microturbines provide low-emission and low-cost on-site power generation with reliable features, the investment in such technology is elevating.


  • Decreasing Fossil Fuel Prices across the World - The fall in the price of fossil fuels such as crude oil and gas across the world is estimated to hamper the market growth owing to the cheaper availability of energy from these materials. As the calorific value of crude oil is greater than microturbines the cost of energy production is less for crude oil and thus this hampers the microturbines market growth.
  • High Level of Competition from Present Distributed Power Generation Equipment
  • Scarcity of Trained Professionals in the Sector

Microturbines Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2022)

~ USD 66 Billion

Forecast Year Market Size (2035)

~ USD 207 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Microturbines Segmentation

Application (Combined Heat and Power, Standby Power)

The combined heat and power segment is estimated to gain the largest market share of about 56% in the year 2035, owing to the increasing utilization of combined heat and power (CHP) in wastewater treatment. Additionally, the increasing demand for paper worldwide, the growing number of paper mills, and the rising installations of CHP plants in the paper & pulp industry are predicted to hike the market segment growth in the coming years.

Moreover, the augmenting application of combined heat in new small- and medium-sized nuclear reactors is also expected to have a positive impact on the market segment growth.

End User (Industrial, Commercial, and Residential)

The industrial segment is expected to garner a significant share of around 39% in the year 2035, backed by the need for advanced storage systems in the industries. With microturbines becoming apt for many applications where the requirement for continuous power production is high, the demand for microturbines is augmenting in several industries.

Microturbines can generate a large amount of energy compared to their size and can be placed on-site, facilitating security and maintenance. All these factors are also anticipated to drive market segment growth.

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


  • Combined Heat and Power
  • Standby Power

        Power Rating

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

         End User

  • Industrial
  • Commercial
  • Residential

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Microturbines Industry - Regional Synopsis

North American Market Forecast

The microturbines market in North America is poised to account for the largest share of 40% by the end of 2035. The presence of key players in the countries like U.S. and the ongoing advancements in power generation technology to increase the utilization of renewable energy sources for power consumption are driving market growth in the region. In the United States, the renewable energy consumption in the year 2020 was over 11 quadrillions Btu out of a total of 92.9 quadrillions Btu of energy consumption from various sources, as per the Energy Information Agency. Hence, the increasing power demand and growing preference towards eco-friendly products such as microturbines that can use various fuels, including natural gas, biogas, associated gas, biodiesel, and kerosene are predicted to influence the expansion of the regional market.

APAC Market Statistics

During the forecast timeframe, the Asia Pacific microturbines market is predicted to garner a share of 26% by the end of 2035, owing to rising development in the automotive sector, which is further propelling demand for microturbines due to their increasing usage in hybrid electric vehicles as low-emission battery chargers. In 2022, China dominates the industry for motor vehicle production, producing more than 29 million cars and commercial vehicles.

Furthermore, the region's thriving mining sector, as well as the increasing installation of new CHP plants, particularly in countries such as China, to reduce carbon emissions, are expected to boost market revenue in the region.

Research Nester
Microturbine Market Size
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Companies Dominating the Microturbines Landscape

    • 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 Solar Power Corporation
    • Bladon Micro Turbine
    • Bowman Consulting Group Ltd.

In the News

  • Bowman Consulting Group Ltd. declared the acquisition of SEI Professional Services with USD 3 billion that include new renewable energy, solar, electric vehicles, and energy storage assignments. This was to help Bowman add various technical services and experiences to their portfolio to benefit developers and owners of solar energy facilities, and photovoltaic and battery energy storage operators.
  • Capstone Turbine Corporation declared the 10% federal Investment Tax Credit (ITC) extension for the microturbines and combined heat and power projects until the end of 2023. The extensions were made to help energy-intensive U.S. businesses to save jobs and stay competitive in the global market.

Author Credits:  Payel Roy, Dhruv Bhatia

  • Report ID: 3733
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The rising adoption of natural gas micro turbine generators to generate electricity and heat are the major factor driving the growth of the microturbines market.

The market size of microturbines is anticipated to attain a CAGR of 10% over the forecast period, i.e., 2023-2035.

The major players in the market are Brayton Energy LLC, 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 Group Ltd.

The combined heat and power segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Microturbines Market Report Scope

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