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Global Microturbine Market Size, Share, Trends, Forecast: By Power Rating: 12 kW – 50kW, 50 kW – 250 kW, 250 kW – 500 kW, Others; By Application: Standby Power, Combined Heat and Power (CHP); By End Use: Commercial, Industrial, Residential, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
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 Market Report Snapshots
*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Microturbine Market Analysis
8.1 Key Industry Highlights
8.2 Global Microturbine Historical Market (2018-2023)
8.3 Global Microturbine Market Forecast (2024-2032)
8.4 Global Microturbine Market by Power Rating
8.4.1 12 kW – 50kW
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 50 kW – 250 kW
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 250 kW – 500 kW
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Others
8.5 Global Microturbine Market by Application
8.5.1 Standby Power
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Combined Heat and Power (CHP)
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Microturbine Market by End Use
8.6.1 Commercial
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Industrial
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Residential
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Others
8.7 Global Microturbine Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Microturbine Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Microturbine Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Microturbine Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Microturbine Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Microturbine Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Ansaldo Energia S.p.A.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Capstone Turbine Corporation
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Brayton Energy, LLC
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Bladon Jets Holdings Limited
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Microturbine Market: Key Industry Highlights, 2018 and 2032
2. Global Microturbine Historical Market: Breakup by Power Rating (USD Billion), 2018-2023
3. Global Microturbine Market Forecast: Breakup by Power Rating (USD Billion), 2024-2032
4. Global Microturbine Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Microturbine Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Microturbine Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Microturbine Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Microturbine Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Microturbine Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Microturbine Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Microturbine Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Microturbine Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Microturbine Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Microturbine Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Microturbine Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Microturbine Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Microturbine Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Microturbine Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Microturbine Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Microturbine Market Structure
Key Questions Answered in the Report
In 2023, 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 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 587.33 million by 2032.
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.
Analyst Review
The global microturbine market attained a value of USD 279.72 million in 2023, driven by the rising awareness about clean energy. Aided by the growing replacement of phased-out nuclear and coal plants, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 8.6%. The market is projected to reach USD 587.33 million by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on power rating, the market is segmented into 12 kW-50 kW, 50 kW-250 kW, and 250 kW-500 kW, among others. By application, the industry is bifurcated into standby power and combined heat and power (CHP). On the basis of end use, the market is segmented into commercial, industrial, and residential, among others. The major regional markets for microturbine are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Ansaldo Energia S.p.A., Capstone Turbine Corporation, Brayton Energy, LLC, and Bladon Jets Holdings Limited, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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