Microturbines Market By Application Combined Heat and Power CHP and Standby Power , Power Rating 50 kW-250 kW, 12 kW -50 kW, 250 kW-500 kW , End User Commercial, Industrial, Residential Forecast 2014 to 2023
Industry Outlook and Trend Analysis
The Microturbines Market was worth USD 125.67 million in 2014 and is expected to reach approximately USD 282.55 million by 2023, while registering itself at a compound annual growth rate CAGR of 9.42% during the forecast period. Micro turbines provide the extensive variety of advantages which incorporates capacity to keep running on numerous energizes, compact size, less moving parts and higher proficiency bringing about lower power costs which are foreseen to build its request among the end use industries. Increasing requirement for sources of energy combined with developing ecological concerns including contamination levels and global warming is foreseen to promote the product improvement in rising economies including China, Malaysia, and South Korea. Decommissioning of nuclear plants in developed districts primarily Europe is foreseen to drive general market demand over the forecast period.
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Application Outlook and Trend Analysis
The combined heat and power commanded the application fragment and secured more than the greater part of share in the worldwide market. The portion is foreseen to encounter the most astounding development over the estimate time frame. Expanding ecological concerns including global warming and pollution levels is foreseen to build the demand of the product over the conjecture time frame.
Power Rating Outlook and Trend Analysis
Based on power rating, 50 kW-250 kW microturbines were the main power rating segment and is anticipated to observe significant development over the conjecture time frame. The section represented an income share of around 38.0% in 2015. 12 kW – 50 kW and 50 kW-250 kW microturbines demand is anticipated to drive because of developing hybrid electric vehicles applications. 12 kW – 50 kW is foreseen to develop at a significant CAGR over the forecast period.
End User Outlook and Trend Analysis
Industrial was the major end-user section as micro turbines are majorly used in various industries construction and manufacturing, including oil and gas, pharmaceutical, waste water treatment, and mining. The segment is anticipated to improve at the highest CAGR over the forecast period in near future on account of developments in these industries mainly construction and oil and gas.
Regional Outlook and Trend Analysis
North America Micro Turbine Market drove the worldwide business and represented more than 35% of aggregate market income in 2015. The territorial demand was majorly determined by higher rate of utilization in U.S. mining, construction, pharmaceutical industries and waste water treatment. Canada and Mexico are foreseen to grow at critical CAGRs over the figure time frame.
The leading players in the market are Brayton Energy LLC, Flexenergy, ICR Turbine Engine Corporation, Capstone Turbine, Eneftech Innovation SA, Toyota, Ansaldo Energia, Bladon Jets, Newenco, Micro Turbine Technology BV and Calnetix Technologies LLC. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Microturbines Market is region-wise segmented as follows-
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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