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Micro turbines can also be used for providing power to grids where the grid network is weak. A micro-turbine can generate energy from 25 Kw to 500 Kw. The micro-turbine market is a niche market of power generation, but has significant presence in North America. Its production rate as well as revenue generation has been exemplary in the recent past, and it is expected that it will improve its market share in the foreseeable future. The potential market lies in Asia-Pacific and Latin America, where it is still at a nascent stage.
Micro-turbines can be used in the new generation hybrid cars, which are the new age vehicles whose world-wide demand is expected to soar in the recent future. It has also targeted the high growth heavy vehicle sector as a potential demand driver. The low cost and the light weight of the micro turbines is another desirable property which puts its use in so many applications. With “Green Activism” on the rise, the need of the hour is to generate power with minimum toxic emissions and micro-turbines fit the bill. The heat generated from the micro-turbines can also be used for heating air or to produce steam, increasing its utility, and hence the market attractiveness.
However, there are some restraints associated with this market. The rising global fuel costs will eventually increase the cost of electricity generation, which might dampen the market. There are apprehensions about the longevity of the machines as well, as they require a lot of maintenance and have a limit to the number of times they can be started and stopped. Some of the major manufacturers of micro-turbines are Honeywell, Capstone, Northern Research & Engineering Corporation, and GE Power Systems, among many others.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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