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Report Overview

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

Global Microturbines Market Outlook

The global microturbine market attained USD 279.72 million in 2024. The market is projected to grow at a CAGR of 8.6% between 2025 and 2034, to reach USD 587.33 million by 2034.

Global Microturbine Market

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Growing Emphasis on Clean Energy Generation to Boost the Market Growth of Microturbine

There has been an increased emphasis on the generation of energy from renewable and non-polluting sources over the last decade. In addition to the adverse effects of global warming, several climate change agreements have been adopted. High levels of greenhouse gas emissions such as carbon dioxide (CO2) and carbon monoxide contribute to the use of fossil sources, including crude oil, coal and natural gas (CO). Compared to fossil fuels, microturbines emit very low emissions in terms of sulphur oxide (SO) and nitrogen oxide (NO) concentrations, leading to its increasing adoption. The largest market for microturbines is North America, followed by Europe and the Asia Pacific. In recent years, the US has accounted for the majority share in the North American region. In this region, ageing power plants and recurrent natural disasters have created tremendous growth opportunities for the demand for microturbines.

Microturbine Industry Segmentation

Microturbines are mini combustion turbines that normally control an electric engine on gaseous or liquid fuels. The production of the microturbine was accelerated by the design resemblance to a large turbine that provides the engineering basis. Natural gas, other gaseous liquids, waste heat from a thermal power plant, and liquid petroleum fuels are the fuels used to service the microturbine.

Global Microturbine Market By Power Rating

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By power rating, the market is divided into:

  • 12 kW-50 kW
  • 50 kW-250 kW
  • 250 kW-500 kW
  • Others

On the basis of application, the market is segmented into:

  • Standby Power
  • Combined Heat and Power (CHP)

Based on end use, the market is divided into:

  • Commercial
  • Industrial
  • Residential
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Technological Advancements to Boost the Market Growth of Microturbine

The potential of microturbine systems to run on different fuels is one of the most important industry factors. The use of materials, including thermal barrier coatings and ceramics, enhances the performance of microturbine systems and ultimately raises the working temperature of the engine. It is predicted that such technological advances in microturbines would strengthen the industry further. Hybrid electric cars boost the maximum requirement for microturbines with low power ratings. Due to major OEMs increasingly investing in R&D activities to increase the performance of microturbines, the market is expected to gain momentum in the near future. Moreover, in order to achieve profitable electricity production and supply, both power generation plants and customers are constantly looking for cost-effective operations.

Key Industry Players in the Global Microturbine Industry

The report gives a detailed analysis of the following key players in the global microturbine market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Ansaldo Energia S.p.A.
  • Capstone Turbine Corporation
  • Brayton Energy, LLC
  • Bladon Jets Holdings Limited
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Power Rating
  • Application
  • End Use
  • Region
Breakup by Power Rating
  • 12 kW – 50kW
  • 50 kW – 250 kW
  • 250 kW – 500 kW
  • Others
Breakup by Application
  • Standby Power
  • Combined Heat and Power (CHP)
Breakup by End Use
  • Commercial
  • Industrial
  • Residential
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Ansaldo Energia S.p.A.
  • Capstone Turbine Corporation
  • Brayton Energy, LLC
  • Bladon Jets Holdings Limited
  • Others
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Microturbine Market Report Snapshots

Microturbine Market Size

Microturbine Market Growth

Microturbine Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

In 2024, the global microturbine market attained a value of nearly USD 279.72 million.

The market is projected to grow at a CAGR of 8.6% between 2025 and 2034.

The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 587.33 million by 2034.

Cost-effective power generation, and falling oil and gas prices are the key factors driving the growth of the market.

The key market trends of the market include replacement of phased-out nuclear and coal plants and rising awareness about clean energy and CHP.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The leading power ratings of microturbine in the market are 12 kW-50 kW, 50 kW-250 kW, and 250 kW-500 kW, among others.

The major applications in the market are standby power and combined heat and power (CHP).

The leading end uses in the market are commercial, industrial, and residential, among others.

The key players in the global microturbine market are Ansaldo Energia S.p.A., Capstone Turbine Corporation, Brayton Energy, LLC, and Bladon Jets Holdings Limited, among others.

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