26th November 2019 – Global Micro
Turbine Market is estimated to grow significantly in the forecast
period owing to the increasing preference for low emission power generation
sources. Micro turbines are relatively new distributed generation technology
that is used for stationary energy generation applications. They are combustion
turbine that produces both electricity and heat on a relatively small scale.
They offer numerous potential advantages as compared to other technologies for
small-scale generation.
The advantages comprise small number of
moving parts, compact size, lightweight, greater efficiency, lower emissions,
lower electricity price and opportunities to utilize fuel waste. They can be
potentially located on sites with space limitations for power generation. Micro
turbines are small, have relatively low capital costs, expected low operations
and maintenance costs, and automated electronic control due to which they are
expected to register significant market share in the years to come.
Additionally, micro turbines offer an efficient and clean solution to direct
mechanical drive markets like air conditioning and compression.
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Outdated power infrastructure and poor
grid connectivity across several regions is predicted to fuel the demand for
micro turbines, thereby influencing micro turbine market. On site power,
generation is predicted to become more practicable and reliable for power
supply in urban areas. Moreover, poor grid connectivity in emerging and
underdeveloped countries is predicted to rise, which ultimately raises demand
for onsite power generation.
Moreover, factors like customized power
demand, reliability, and reduced power generation costs are likely to increase
demand for micro turbines. Micro turbine systems are easily installed as
compared to the complex traditional power plants and can produce low cost
energy for comparatively cleaner energy sources. The energy cost from micro
turbines is reduced mainly by utilizing them for CHP applications, which not
only increases the overall efficiency of a micro turbine but also offer
economic benefits to end users.
The installation cost of micro turbine
is comparatively high which makes them difficult to compete with reciprocating
engines. To be competitive in the market, the installation cost of micro
turbines is required to be competitive with the reciprocating engines. Micro turbines
have low fuel-efficiency, which is another major restraint in micro turbines
market. Besides, the efficiency of micro turbines further declines with
increase in part load, which is not the case with reciprocating engines.
Innovations and new technologies in
micro turbines are predicted to improve their overall efficiency along with
cost effectiveness. Development and installation of micro turbines in off grid
areas can reduce the high costs required in grid connection and power
transmission. Micro turbines when used with energy storage devices can
efficiently meet the demand of end users with no compromise on efficiency.
Since micro turbines can also use hydrogen as fuel, using them with fuel cells
in CHP applications can perform with higher efficiency with almost zero
emissions.
Micro turbine market is categorized on
the basis of application, power rating and end users and geography. On the
basis of application, market is divided into combined heat & power (CHP)
and standby power. In terms of value, combines heat & power (CHP) segment
is predicted to hold larger share of micro turbines market owing to its high
efficiency. In terms of power rating, micro turbine market is divided into 12
kW -50 kW, 50 kW-250 kW, and 250 kW-500 kW. 50 kW-250 kW is predicted to hold
larger share market in the forecast period.
Based on end user, market is divided
into industrial, commercial and residential. Geographically, market is
segmented as North America, Central America, South America, Europe, Asia
Pacific, and Middle East & Africa. Owing to fast economic growth,
urbanization and industrialization, North America is predicted to hold larger
share of micro turbine market.
The major players in micro turbine
market are Ansaldo Energia, Aurelia, 247solar, Capstone Turbine, Brayton
Energy, Bladon Jets, Flexenergy, Eneftech Innovation, Icrtec, MTT, Bowman,
Turbotech, and Toyota Turbine and Systems.
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