DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Micro Turbine Market - Global Forecast and Trends to 2021" report to their offering.
The micro turbine market is expected to reach a value of USD 249.9 million by 2021, at a CAGR of 11.5% from 2016 to 2021. Increasing demand for electric power worldwide, subsequent investments in creating new generating capacity, and growing adoption of Combined Heat & Power (CHP) is driving the market for micro turbines across the world.
Industrial segment accounted for more than half of the micro turbine market. This can be attributed to the increased operations in construction & manufacturing, mining industries, oil & gas, automotive, & pharmaceuticals industries, and the demand for micro turbines that powers them.
The oil & gas sector is a vital industry for micro turbine applications as various commodity prices depend on the price of oil. Micro turbines also find suitability in the renewable energy industry, particularly in wastewater treatment plants where the environment-unfriendly gas-methane-is used to generate electricity and heat, thereby resulting in the production of clean energy.
The North American region is currently the largest market for micro turbines followed by Europe and Asia-pacific. The U.S. accounted for a majority share in the North American region in 2015, whereas Canada is projected to grow at the highest CAGR from 2016 to 2021. Aging power plants and frequent natural calamities have created enormous growth opportunities for the micro turbine market in this region. The Shale gas boom in North America and decommissioning of nuclear plants in Europe are boosting the demand for micro turbines in those regions.
- Ansaldo Energia S.P.A.
- Bladon Jets
- Brayton Energy, LLC.
- Calnetix Technologies LLC.
- Capstone Turbine Corporation
- Eneftech Innovation SA
- Flexenergy, Inc.
- ICR Turbine Engine Corporation
- Microturbine Technology BV
- Toyota Motor Corporation
- Wilson Solarpower Corporation
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Micro Turbine Market, By Application
7 Micro Turbine Market, By End User
8 Micro Turbines Market, By Power Rating
9 Micro Turbine Market, By Region
10 Competitive Landscape
11 Company Profiles
For more information visit http://www.researchandmarkets.com/research/6pw5sp/micro_turbine