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Microturbine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

June 2023 | 139 pages | ID: M110E895B378EN
IMARC Group

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Market Overview:

The global microturbine market size reached US$ 79.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 131.2 Billion by 2028, exhibiting a growth rate (CAGR) of 8.3% during 2023-2028.

A microturbine is a small combustion turbine that runs on liquid or gaseous fuels to power an electric generator. It uses natural gas, waste heat from thermal plants and petroleum fuels, such as kerosene, diesel and heating oil. It is primarily used for small-scale power generation and consists of a compressor, combustor, alternator, turbine, generator and a recuperator. It operates by recovering exhaust energy and preheating the compressed inlet air to enhance the electrical efficiency of the generator. In comparison to traditionally used alternatives, microturbines are compact, lightweight, cost-effective and have minimal moving parts, emissions and fuel wastage. Owing to these benefits, they find extensive applications in provide standby power, combined cooling, heating and power (CCHP), combined heat and power (CHP), resource recovery, and microgrid systems.

The rapidly increasing energy demand across the globe is among the key factors driving the growth of the market. Furthermore, there is an increasing focus on green and sustainable power generation, which is also providing a boost to the market growth as microturbines offer stable and reliable power with minimal emissions of greenhouse gases (GHGs), such as carbon dioxide (CO2), carbon monoxide (CO), sulfur oxide (SO2) and nitrogen oxide (NO2). Additionally, widespread adoption of CHP systems across various industries is also contributing to the market growth. They are extensively used in wastewater treatment plants, breweries, paper and rubber mills and the residential sector for providing residual heat in cold climates. Furthermore, the replacement of phased-out coal and nuclear plants with modern and innovative power stations and installation of microturbines in off-grid systems in remote areas, are creating a positive outlook for the market. Other factors, including rising investments in the energy sector and extensive research and development (R&D), are projected to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global microturbine market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on application, power rating and end-user.

Breakup by Application:

Combined Heat and Power (CHP)
Standby Power

Breakup by Power Rating:

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

Breakup by End-User:

Residential
Commercial
Industrial

Breakup by Region:

North America

United States
Canada

Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Ansaldo Energia SPA, Bladon Jets, Capstone Turbine Corporation, FlexEnergy Inc., Brayton Energy, LLC, Toyota Motor Corporation, Micro Turbine Technology B.V., ICR Turbine Engine Corporation and Calnetix Technologies, etc.

Key Questions Answered in This Report:

How has the global microturbine market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global microturbine market?
What is the breakup of the market based on the application?
What is the breakup of the market based on the power rating?
What is the breakup of the market based on the end-user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global microturbine market and who are the key players?
What is the degree of competition in the market?

1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL MICROTURBINE MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY APPLICATION

6.1 Combined Heat and Power (CHP)
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Standby Power
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY POWER RATING

7.1 12 kW – 50 kW
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 50 kW – 250 kW
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 250 kW – 500 kW
  7.3.1 Market Trends
  7.3.2 Market Forecast

8 MARKET BREAKUP BY END-USER

8.1 Residential
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Commercial
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Industrial
  8.3.1 Market Trends
  8.3.2 Market Forecast

9 MARKET BREAKUP BY REGION

9.1 North America
  9.1.1 United States
    9.1.1.1 Market Trends
    9.1.1.2 Market Forecast
  9.1.2 Canada
    9.1.2.1 Market Trends
    9.1.2.2 Market Forecast
9.2 Asia Pacific
  9.2.1 China
    9.2.1.1 Market Trends
    9.2.1.2 Market Forecast
  9.2.2 Japan
    9.2.2.1 Market Trends
    9.2.2.2 Market Forecast
  9.2.3 India
    9.2.3.1 Market Trends
    9.2.3.2 Market Forecast
  9.2.4 South Korea
    9.2.4.1 Market Trends
    9.2.4.2 Market Forecast
  9.2.5 Australia
    9.2.5.1 Market Trends
    9.2.5.2 Market Forecast
  9.2.6 Indonesia
    9.2.6.1 Market Trends
    9.2.6.2 Market Forecast
  9.2.7 Others
    9.2.7.1 Market Trends
    9.2.7.2 Market Forecast
9.3 Europe
  9.3.1 Germany
    9.3.1.1 Market Trends
    9.3.1.2 Market Forecast
  9.3.2 France
    9.3.2.1 Market Trends
    9.3.2.2 Market Forecast
  9.3.3 United Kingdom
    9.3.3.1 Market Trends
    9.3.3.2 Market Forecast
  9.3.4 Italy
    9.3.4.1 Market Trends
    9.3.4.2 Market Forecast
  9.3.5 Spain
    9.3.5.1 Market Trends
    9.3.5.2 Market Forecast
  9.3.6 Russia
    9.3.6.1 Market Trends
    9.3.6.2 Market Forecast
  9.3.7 Others
    9.3.7.1 Market Trends
    9.3.7.2 Market Forecast
9.4 Latin America
  9.4.1 Brazil
    9.4.1.1 Market Trends
    9.4.1.2 Market Forecast
  9.4.2 Mexico
    9.4.2.1 Market Trends
    9.4.2.2 Market Forecast
  9.4.3 Others
    9.4.3.1 Market Trends
    9.4.3.2 Market Forecast
9.5 Middle East and Africa
  9.5.1 Market Trends
  9.5.2 Market Breakup by Country
  9.5.3 Market Forecast

10 SWOT ANALYSIS

10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats

11 VALUE CHAIN ANALYSIS

12 PORTERS FIVE FORCES ANALYSIS

12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes

13 PRICE INDICATORS

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 Ansaldo Energia SPA
    14.3.1.1 Company Overview
    14.3.1.2 Product Portfolio
    14.3.1.3 Financials
    14.3.1.4 SWOT Analysis
  14.3.2 Bladon Jets
    14.3.2.1 Company Overview
    14.3.2.2 Product Portfolio
    14.3.2.3 Financials
  14.3.3 Capstone Turbine Corporation
    14.3.3.1 Company Overview
    14.3.3.2 Product Portfolio
    14.3.3.3 Financials
    14.3.3.4 SWOT Analysis
  14.3.4 FlexEnergy Inc.
    14.3.4.1 Company Overview
    14.3.4.2 Product Portfolio
  14.3.5 Brayton Energy, LLC
    14.3.5.1 Company Overview
    14.3.5.2 Product Portfolio
  14.3.6 Toyota Motor Corporation
    14.3.6.1 Company Overview
    14.3.6.2 Product Portfolio
    14.3.6.3 Financials
    14.3.6.4 SWOT Analysis
  14.3.7 Micro Turbine Technology B.V.
    14.3.7.1 Company Overview
    14.3.7.2 Product Portfolio
    14.3.7.3 Financials
  14.3.8 ICR Turbine Engine Corporation
    14.3.8.1 Company Overview
    14.3.8.2 Product Portfolio
  14.3.9 Calnetix Technologies
    14.3.9.1 Company Overview
    14.3.9.2 Product Portfolio


LIST OF TABLES

Table 1: Global: Microturbine Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Microturbine Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 3: Global: Microturbine Market Forecast: Breakup by Power Rating (in Million US$), 2023-2028
Table 4: Global: Microturbine Market Forecast: Breakup by End-User (in Million US$), 2023-2028
Table 5: Global: Microturbine Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Microturbine Market: Competitive Structure
Table 7: Global: Microturbine Market: Key Players


LIST OF FIGURES

Figure 1: Global: Microturbine Market: Major Drivers and Challenges
Figure 2: Global: Microturbine Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Microturbine Market: Breakup by Application (in %), 2022
Figure 4: Global: Microturbine Market: Breakup by Power Rating (in %), 2022
Figure 5: Global: Microturbine Market: Breakup by End-User (in %), 2022
Figure 6: Global: Microturbine Market: Breakup by Region (in %), 2022
Figure 7: Global: Microturbine Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Microturbine (Combined Heat and Power) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Microturbine (Combined Heat and Power) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Microturbine (Standby Power) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Microturbine (Standby Power) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Microturbine (12 kW – 50 kW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Microturbine (12 kW – 50 kW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Microturbine (50 kW – 250 kW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Microturbine (50 kW – 250 kW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Microturbine (250 kW – 500 kW) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Microturbine (250 kW – 500 kW) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Microturbine (Residential) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Microturbine (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Microturbine (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Microturbine (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Microturbine (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Microturbine (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: North America: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: North America: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: United States: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: United States: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Canada: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Canada: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Asia Pacific: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Asia Pacific: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: China: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: China: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Japan: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Japan: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: India: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: India: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: South Korea: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: South Korea: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Australia: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Australia: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Indonesia: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Indonesia: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Others: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Others: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Europe: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Europe: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Germany: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Germany: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: France: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: France: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: United Kingdom: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: United Kingdom: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Italy: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Italy: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Spain: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Spain: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Russia: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Russia: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Others: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Others: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Latin America: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Latin America: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Brazil: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Brazil: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Mexico: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Mexico: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Others: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Others: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Middle East and Africa: Microturbine Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Middle East and Africa: Microturbine Market: Breakup by Country (in %), 2022
Figure 72: Middle East and Africa: Microturbine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Global: Microturbine Industry: SWOT Analysis
Figure 74: Global: Microturbine Industry: Value Chain Analysis
Figure 75: Global: Microturbine Industry: Porter’s Five Forces Analysis


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