This market research report, evaluates the market size of microturbine systems, in terms of volume (MW) and revenue (USD Million). In order to provide a comprehensive picture of the market, the microturbine systems market has been segmented on the basis of application, end use and geography. Market data for each segment has been provided on a regional level for the period 2013 to 2019.
Albany, NY -- (SBWIRE) -- 02/12/2016 -- Microturbines systems provide standby power to several industries during power outages and also provide backup to power grids, thereby acting as a supplementary power source. Growing energy demand, increased grid instability and rising awareness to curb energy demand during peak hours is expected to drive market growth over the coming years. Impending stringent environmental regulations and growing demand for clean and green energy generation are further fuelling market growth. Microturbine systems find growing applications in the off grid areas owing to their portability. Increasing electricity consumption in off grid areas of Asia Pacific and Africa is likely to create new opportunities for the market.
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Besides having numerous advantages, microturbines are also useful for a range of applications which include CHP generation, peak shaving, backup/standby power, stand-alone power, microgrid, microCHP, and resource recovery. These applications can be broadly segmented into two categories including CHP Generation and standby power. Microturbine systems serve commercial, industrial and residential end use markets. In CHP applications, the waste heat emitted from the microturbine is used to heat building space, drive absorption cooling and dehumidification equipment, produce hot water, and supply other thermal energy needs in a building or industrial process.
In addition, microturbines are used in the event of an outage as a backup power supplier to the utility grid. Many small-scale and large-scale industries often require standby/emergency power of high quality to minimize their losses caused by power interruptions. Furthermore, most of the industries such as food processing, manufacturing, oil & gas and utility could meet their heating and cooling needs by utilizing waste heat from on-site small generating units. Shaving peak power requirement is another potential application for on-site generation for these industries.
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Microturbines can be installed at a number of locations that would be inaccessible to traditional generating applications owing to its compact size, reliability, and its ability to emit low levels of emissions and noise. North America and Europe have led the microturbines market over the past decade and are expected to continue their domination owing to technological advancements and need for clean and green energy generation in these regions. Furthermore, Asia Pacific region owing to increased awareness about green energy generation and rapid industrialization and modernization are expected to further boost the microturbines market.
Microturbines market was dominated by industrial end use segment in 2012. The commercial sector is flooded with supermarkets, malls, offices, hotels and hospitals. The energy requirement under commercial sector (30 KW to 200 KW) matches the output efficiency of the microturbine which leads to propelled growth rate of the commercial end use segment. Microturbine usually forms the secondary energy resource for the industrial end use segment while in off grid areas it is one of the primary energy sources. The residential end use segment has several other cost efficient alternative energy options, due to which it is comparatively less attractive market for microturbine systems.
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The microturbine market is consolidated with few large players. Capstone Turbine Corporation dominated the microturbine systems market in 2012 accounting for 78.3% market share. It primarily focused on expanding its business overseas by forming strategic alliances with local and key players in several other regions. Capstone acquired several medium and large players in the industry with an objective to maximize its customer base. Some of the other key players in the market include FlexEnergy, Global Microturbine LLC, Turbec, and Elliot Company Inc. The monopolistic nature of microturbine's market acts as a major barrier to the new entrants.
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