(MENAFN- America News Hour) The global micro turbines market is estimated to occupy a large amount of revenue by growing at a CAGR of ~9% during the forecast period, i.e., 2022 – 2030, which can be credited largely to the rising demand for electricity across the globe. Apart from these, government efforts to reduce emissions is also expected to augment the sales of microturbines as they release fewer emissions into the air. Furthermore, growing replacement of phased out coal and nuclear plants with natural gas-fired power generation plants is predicted to offer profitable opportunities to the market in the forthcoming years.
Research Nester published a report titled “Micro Turbines Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global micro turbines market in terms of market segmentation by application, power rating, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The market is segmented by application, power rating and end user. Based on power rating, the 12-50 kW segment is anticipated to occupy the largest share over the forecast period on the back of the ability of the turbines with this power rating to utilize less energy, which can decrease the energy expense of household consumers. Additionally, by end user, the industrial segment is projected to grab the largest share during the forecast period attributing to the high utilization of micro turbines in a variety of industry verticals such as pharmaceutical, oil & gas and water treatment to cut down on energy costs.
Geographically, the global micro turbines market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the large number of aging power plants and strong presence of market players in the region. Moreover, the market in Europe is assessed to acquire the second largest share in the near future owing to the escalating establishment of micro turbines, especially in countries such as Norway, Finland and Netherlands.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rising Demand for Electricity Around the World to Boost Market Growth
Owing to the rapidly growing population, the demand for electricity across the world is also predicted to increase. Along with this, a high emphasis on energy generation from non-polluting resources is also being given by various governmental and non-profit organizations, which in turn is predicted to raise the demand for establishment of micro turbines in the coming years.
However, high competition from present distributed power generation equipment is expected to operate as key restraint to the growth of the global micro turbines market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global micro turbines market which includes company profiling of Brayton Energy LLC, Toyota Motor Corporation, Capstone Turbine Corporation, Ansaldo Energia S.P.A., ICR Turbine Engine Corporation, NewEnCo., Eneftech Innovation SA, Wilson Solarpower Corporation, Bladon Micro Turbine, Bowman Consulting, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global micro turbines market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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