NEW YORK, Dec. 13, 2016 /PRNewswire/ -- According to Stratistics MRC, the Global Micro Turbine market is accounted for $141.0 million in 2015 and is expected to reach $320.6 million by 2022 growing at a CAGR of 12.45%. Supportive government regulations towards reduction of green house gas emissions, technological advancements and rising applications of micro turbine are some of the factors fueling the market. Urbanisation and industrialisation are expected to provide opportunities to the market. Competition from other technologies will be one of the key challenges to the market growth.
North America accounted for the largest share in the regional market with U.S as a key player. The growth is attributed to repeated natural calamities and aging power plants. Europe region is expected to register the highest CAGR during the forecast period. Combined Heat & Power segment accounted for the largest share in the market during the forecast period. Standby power segment accounted for the largest share in the market.
Some of the key players in Micro Turbine market include ICR Turbine Engine Corporation, Toyota Motor Corporation, Wilson Solarpower Corporation, NewEnCo., AnsaldoEnergia S.P.A, Calnetix Technologies LLC., Elliot Company Inc., Bowman Power Group Ltd., Micro Turbine Technology BV, Capstone Turbine Corporation, Brayton Energy, LLC, FlexEnergy, Inc., Global Microturbine LLC, Bladon Jets and Eneftech Innovation SA.
End Users Covered:
Power Rating Covered:
- 50 kW to 250 kW
- 12 kW to 50 kW
- 250 kW to 500 kW
- Stand By Power
- Combined Heat & Power
- North America
o Rest of Europe
- Asia Pacific
o New Zealand
o Rest of Asia Pacific
- Rest of the World
o Middle East
o South Africa
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