Microturbines: Global Market Analysis and Forecasts for Residential, Commercial, and Industrial Applications
Jun 29, 2015, 09:30 ET
NEW YORK, June 29, 2015 /PRNewswire/ -- Still an emerging and relatively expensive technology, microturbines are among a diverse class of distributed generation (DG) technologies benefitting from an accelerating shift from centralized generation. Today, microturbines are primarily used for remote power applications in the oil & gas (O&G) industry and combined heat and power (CHP) or combined cooling, heating, and power (CCHP) applications in the commercial, industrial, and residential high-rise markets. The expansion of shale O&G production across North America and other high potential regions like Latin America, Asia Pacific, and Africa increases the addressable market for the technology. Moreover, compatibility with a wide range of opportunity fuels makes microturbines an attractive solution in CHP configurations where grid electricity costs remain high.
Although the global microturbine market has experienced steady historical revenue growth over the past 5 years, reduced O&G development activity in the past year has led to reduced sales for leading manufacturers. The market is expected to bounce back as shale O&G development continues apace, with revenue from annual microturbine installations expected to surpass
$1 billion by 2020. North America and Asia Pacific are anticipated to account for the majority of cumulative revenue generated from global microturbine installments between 2015 and 2024. According to Navigant Research, more than 4.0 GW of microturbine capacity is projected to be installed globally on a cumulative basis through 2024.
This Navigant Research report provides an analytical overview of the global microturbine market. The study includes assessments of microturbine applications, market segments, and economics. Global market forecasts for capacity and revenue, segmented by region and size range, extend through 2024. The report also examines the key technologies, components, and fuels related to microturbines and provides profiles of the primary microturbine manufacturers with commercially available products.
Key Questions Addressed:
What is the current addressable market for microturbines?
Which regions show the greatest opportunity for microturbine adoption?
What are the key drivers and barriers affecting the adoption of microturbines?
What is the estimated cost of microturbine solutions and how do they compare to other distributed generation (DG) technology solutions?
What impact will changes in the prices of fuels such as natural gas and oil have on microturbine adoption?
Who are the key manufacturers in the microturbine market?
Who needs this report?
Microturbine technology distributors
Upstream oil & gas production companies
Read the full report: http://www.reportlinker.com/p03039670-summary/view-report.html
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