Micro turbines are a simple form of gas turbine, usually featuring a radial compressor and turbine rotors and often using just one stage of each. Micro turbines offer several potential advantages compared to other technologies for small-scale power generation, including: a small number of moving parts, compact size, lightweight, greater efficiency, lower emissions, lower electricity costs, and opportunities to utilize waste fuels. Waste heat recovery can also be used with these systems to achieve efficiencies greater than 80%. Factors such as increasing global electricity demand and rising investments in power transmission and distribution networks coupled with growing adoption of CHP and increasing efforts to reduce global greenhouse gas emissions and are driving the micro turbine market. For instance, as per IEA Electricity Market Report 2020, after declining in 2019 and 2020, global electricity sector emissions grew by close to 7% and reached a new all-time peak in 2021. Coal was the main driver of this increase in 2021, accounting for over 800 Mt of CO2 emissions growth.
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According to ‘UnivDatos Market Insights (UMI)’ research report “Micro Turbines Market Analysis, 2020”, the Micro Turbines market is projected to grow at a CAGR of ~11% during 2021-27F. Growth in urbanization and industrialization in developing countries is one of the prominent reasons, which is driving the market of the Micro Turbines. For Instance: The world’s total electricity consumption reached 22,848 TWh in 2019, which is an increase of 1.7% from 2018.
However, global energy demand is estimated to have fallen by 4.5% in 2020. This is the largest recession in last 60-70 years, driven by an unprecedented collapse in oil demand, as the imposition of lockdowns around the world decimated transport-related demand. Despite the disorder of 2020, renewable energy, led by wind and solar energy, continued to grow prolifically. Remarkably, wind and solar capacity increased by a colossal 238 GW last year – 50% larger than any previous expansion. Likewise, the share of wind and solar generation in the global power mix recorded its largest ever increase. The relative immunity of renewable energy to the events of last year is encouraging. Furthermore, as per IEA, Electricity demand is heading for its fastest growth in more than 10 years. Electricity demand increased by approximately 6% in 2021, or over 1,500 TWh. Global electricity demand was boosted by a rapid economic recovery, combined with more extreme weather conditions than in 2020, including a colder than average winter.
Based on Power Rating, the micro turbine market is bifurcated into three segments: up to 12–50 kW, 51–250 kW, and 251–500 kW. In 2020, the 51–250 kW category accounted for a considerable share of the market. This is mainly due to their higher adoption in commercial and industrial applications. For instance, Micro Gas Turbines AET100 by Ansaldo Energia can be installed in food industries, for drying processes in general (ovens, brickyards, painting plants, etc.), chemical and petrochemical plants, industrial laundries, joinery, waste water treatment plants, hospitals, swimming pools, hotels, leisure centers, among others. It can be installed inside all turnkey cogenerative and trigenerative plants, providing simultaneous generation of electrical and thermal energy with very low levels of noise, vibrations, and emissions.
On the basis of End-User, the market is categorized into Industrial, Commercial, and Residential. During the forecast period, the commercial category to witness fastest growth owing to the expansion of urban areas and the development of commercial trade hubs coupled with growing focus on using green construction techniques to build energy efficient buildings and reducing construction costs.
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Based on Application, the Micro Turbines market has been bifurcated into CHP and standby power. Of these, CHP is expected to witness higher CAGR during the forecast period. This application is highly useful for industries such as wastewater treatment plants, breweries, rubber mills, and paper mills which require heat to drive various internal processes.
North America to Grab Lion’s Share, and witnessed Explicit Growth
Based on the Region, in 2020, North America dominated the market. North American market will further witness steady growth due to the aging power plants and frequent natural calamities have created enormous growth opportunities for the micro turbine market in this region. However, Asia Pacific is expected to witness highest CAGR of during the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Micro Turbines Market Analysis, 2020”. According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Micro Turbines Market are Capstone Green Energy Corporation, FlexEnergy Energy Systems Inc., Toshiba Corporation, Bladon Micro Turbine, Micro Turbine Technology BV (MTT), Calnetix Technologies LLC, Ansaldo Energia S.P.A., NewEnCo., Aurelia Turbines Oy, and Bowman Power Group Ltd., among others. The players are focused on partnerships and collaborations with major power generation companies expanding their geographical reach to get a competitive edge in the industry.
- In September 2021 – C9apstone Green Energy Corporation announced that it has secured an order from DTC Ecoenergía (Capstone’s exclusive distributor for Mexico), for a 5-bay C800 Signature Series micro turbine system. The agreement increases Capstone’s shipped fleet to Mexico to over 68 Megawatts (MW), of which 58 percent of DTC’s installed fleet is covered under a service contract, and reflects a growing need for reliable, cost-effective energy generation in the country.
“Micro Turbines Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Micro Turbines providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor’s capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.
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- By Power Rating (12–50 k, 51–250 kW, 251–500 kW)
- By End-User (Industrial, Commercial, Residential)
- By Application (Combined Heat & Power (CHP) and Standby Power)
- By Region (North America, Europe, Asia-Pacific, Rest of the World)
By Company (Capstone Green Energy Corporation, FlexEnergy Energy Systems Inc., Toshiba Corporation, Bladon Micro Turbine, Micro Turbine Technology BV (MTT), Calnetix Technologies LLC, Ansaldo Energia S.P.A., NewEnCo., Aurelia Turbines Oy, and Bowman Power Group Ltd.)
Key questions answered in the study:
- What are the current and future trends of the Micro Turbines industry?
- How the industry has been evolving in terms of end-user demand and application areas?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the Micro Turbines industry?
- What is the customer orientation, purchase behavior, and expectations from the Micro Turbines firms across various regions?