Pune, June 09, 2020 (GLOBE NEWSWIRE) -- The global microturbine market is expected to grow mainly on account of rising demand for clean energy. According to a report, published by Fortune Business Insights, titled, “MICROTURBINE: GLOBAL MARKET ANALYSIS, INSIGHTS, AND FORECAST, 2018-2026” the shift from the turbocharger to microturbine technology is predominantly used in aerospace and automotive sector. This shift has pushed the market to rise at a CAGR of 9.23% between 2018 and 2026. In 2018, the market was valued at US$ 179.62 Mn and by 2026 the market is expected to reach double the size i.e. US$ 363.95 Mn by the end of 2026. One of the best properties of microturbines is that they are efficient and faster as compared to gas turbines.
Growth Witnessed Attributed to Demand for Microturbines in Industrial Sector
The trend for using microturbines is gaining the maximum traction in the industrial sector over others. The demand for microturbine generator is increasing among several industries which include oil & gas, mining, water treatment, and pharmaceuticals. The analysts in the report predict that this segment will dominate in the forecast years.
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/microturbine-market-100514
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this market.
Please visit: https://www.fortunebusinessinsights.com/industry-reports/microturbine-market-100514
Asia Pacific to Register Impressive Growth Through 2026
Presently, the market in North America is leading as the U.S. covers the majority of the share. The growing awareness about carbon footprint leads to rising energy consumption, which is driving the market in this region. Stringent regulations by environmental organizations such as CAA are expected to create growth opportunities for the market in North America.
The market in Asia Pacific is anticipated to witness strong demand for microturbines in the forthcoming years. Demand for fuel-efficient vehicles is increasing in this region, which is likely to expand the market. Countries such as Indonesia, India, Malaysia, and Australia are responsible for the optimistic growth of the market. As per the report, China covered 40% of the market in the year 2018. Several projects are lined up in this region, which can help the market dominate in this region.
Increasing Focus on Green Energy Generation Escalates Demand for Microturbines
“The growing concerns over Green House Gas (GHG) emissions and energy efficiency are acting as potential growth enablers in the market,” stated a lead analyst at Fortune Business Insights. “Microturbines have the ability to offer stable and reliable power as compared to the reciprocating engine, which makes it an ideal option for several industries to adopt,” he added.
Driven by the rising demand for clean energy, microturbines are used as the best source for clean energy generation. The poor grid infrastructure and wide availability of fuel are contributing to the growth of the market. Improved reliability and reduced costs of power generation are likely to augment demand for microturbines. Moreover, microturbine systems can be easily installed than conventional power plants and can avoid the risk of any probable losses.
Over the years, microturbine has emerged as a breakthrough development in CHP application. The exhaust heat produced by microturbine can be recovered with the help of a heat recovery boiler and overall efficiency can be increased. Growing environmental concerns such as high pollution levels and global warming are likely to fuel demand for CHP plants, which is driving the market.
Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/microturbine-market-100514
Capstone Turbine Corporation Leads the Market
In the report, the analysts indicate that Capstone Turbine Corporation is leading the global microturbine market. The company has a significant customer reach and it earns the maximum revenue from regions such as Latin America and North America. Some of the other notable players in the global market are Bladon Micro Turbine, Ansaldo Energia, UAV Turbine, Aurelia Turbine, Brayton Energy, LLC., FlexEnergy Inc., MTT Microturbine, ICR Turbine Engine Corporation, Turbo Tech Precision Engineering Pvt., Ltd., and Dresser-Rand. Companies are constantly striving to gain a strong market position and expand their presence in developing as well as developed countries. Some of the developments are mentioned below:
- UAV Turbines Inc. announced the launch of the Monarch RP family in August 2019. The family encompasses microturbine engines that will help commercial and defence partners offer reliable and powerful propulsion systems.
- Bladon Micro Turbine signed an agreement with Gridserve in January 2019. It is a multi-million contract will see the pioneering Bladon MTG12 integrated into Gridserve’s 12kW solar hybrid power solution.
Quick Buy – Microturbine Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100514
Detailed Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Global Microturbine Market Analysis (US$ Mn), Insights and Forecast, 2015-2026
- Key Findings
- Market Analysis, Insights and Forecast – By Power Rating
- Up to 50kW
- 50-250kW
- Above 250kW
- Market Analysis, Insights and Forecast – By Application
- CHP
- Standby Power
- Market Analysis, Insights, and Forecast – By End User
- Residential
- Commercial
- Industrial
- Market Analysis, Insights, and Forecast – By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/microturbine-market-100514
Have a Look at Related Research Insights:
Generator Sales Market Size, Share and Industry Analysis By Fuel Type (Gas, Diesel, Others), By Power Rating (Below 75kVA, 75-375kVA, 375-750kVA, Above 750kVA), By Application (Stand By, Peak Shaving, Continuous), By End-User (Mining, Oil & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, Others) and Regional Forecast 2019-2026
Power Rental Market Size, Share and Industry Analysis By Rating (Below 75 KVA, 75 – 375 KVA, 375 – 750 KVA, Above 750 KVA), By Fuel Type (Diesel, Natural Gas and LPG, Others), By Application (Continuous, Stand By, Peak Load), By End-Use (Mining, Construction, Utility, Events, Manufacturing, Oil and Gas, Others) and Geography Forecast, 2019 - 2026
Industrial Gas Turbine Market Size, Share & Industry Analysis, By Capacity (1-2MW, 2-5MW, 5-7.5MW, 7.5-10MW, 10-15MW, 15-20MW, 20-30MW, 30-40MW, 40-100MW, 100-150MW, 150-300MW, 300+MW), By Sector (Electric Power Utility, Oil & Gas, Manufacturing), By Technology (Heavy Duty, Light Industrial, Aeroderivative), By Cycle (Open Cycle, Combined Cycle) and Regional Forecast, 2019-2026
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US: +1-424-253-0390
UK: +44-2071-939123
APAC: +91-744-740-1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Read Press Release https://www.fortunebusinessinsights.com/press-release/microturbine-market-9149