Market Research Hub (MRH) has freshly announced the inclusion of a new study titled to its massive database, which is titled as “Microturbines Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017-2025”. The report presents predictions on market growth in the coming years, by highlighting key regions such as North America, Asia Pacific (APAC), Middle East & Africa (MEA), Latin America and Europe. Moreover, the report also covers market dynamics including drivers, restraints opportunities, and trends expected to influence the global microturbines market growth during the said period.
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This 236-page study starts with a deep overview of the microturbines along with its scope in the market top trends, key industry developments and market indicators have been elaborated. Microturbines can be defined as small-scale power generators that produce electrical power by burning gaseous and liquid fuels. Due to its various properties, the demand has been growing day by day. The research study has identified that with the increasing energy consumption across the globe, the market for microturbines recorded significant growth within the last couple of years, and is further expected to witness double growth in the coming years.
Research Key Highlights
In order to provide accurate results, the global market growth has been analyzed in terms of revenue and volume estimates (in US$ Mn and Thousand Units), in above-mentioned regions. According to the study evaluations, the global market was valued at US$ 60 Mn in 2016 and is projected to expand at a fantastic CAGR of over 8% from 2017 to 2025.
The market overview section of the report highlights includes drivers and restraints of the global microturbines market. It has been observed in the study that aging power infrastructure and poor grid connectivity in several parts of the world are expected to increase demand for on-site power generation around the globe. This, in turn, is anticipated to increase demand for microturbines globally. Another prime factor behind the growing demand is that microturbine systems can be installed easily in comparison to complex conventional power plants and can produce low-cost energy from much cleaner energy sources
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Furthermore, the study also provides information and data analysis of the market with respect to segments based on power rating, application, and end-user. In terms of power rating, the microturbines market can be classified into 12 KW–50 KW, 51 KW–250 KW, and above 250 KW. Major applications include CHP (Combined Heat & Power) and Standby Power. By geographical segmentation, the research finds that rise in demand from industrial and commercial end-user segments in the Asia Pacific is anticipated to drive the microturbines market in the region.
The last section comprises precise analysis of the companies’ active in the market, such as Flexenergy, Capstone Turbine Corporation, 247solar, TurboTech Precision Engineering Pvt. Ltd., Bowman, Ansaldo Energia, Bladon Jets, Brayton Energy, ICR Turbine Engine Corporation (ICRTec), Micro Turbines Technology BV, and Aurelia Turbines Oy.
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