The Global Micro Turbines Market Is Expected To Reach US$ 360 Million By 2026

 




Micro Turbines (MT) are a small, new distributed generating device that can produce both heat and power. Along with steam generation, the electrical power output might range from a few kW to 500 kW. Microturbines are also known as distributed generators because they provide power at the distribution level of the grid, which necessitates a solid-state interface because the turbine's high rotational speed of around 40,000 revs/min to 120,000 rev/min results in high frequency, which must be reduced to 50Hz to 60Hz to synchronizes with the grid. The MT has various benefits over other small-scale power generation technologies, including minimal moving parts, lightweight, compact size, low emission and cost, and a high efficiency of more than 80% thanks to heat recovery.

Global MicroturbineSystems Market

The growing demand for sustainable energy is a major driver propelling the worldwide microturbine system market forward. Due to global climate change agreements, there has been a greater focus on non-polluting energy sources such as crude oil, natural gas, and others, which produce large amounts of greenhouse gases.

Between 2015 and 2020, the global microturbine system market grew at a rapid pace. The market is expected to develop at a CAGR of around 10% throughout the forecast period, according to IMARC Group (2021-2026).

Covid-19 Impact on Global Microturbine Systems Market

 

The onset of the COVID-19 pandemic has had a significant influence on the global market for microturbines. During the Covid-19 Pandemic, governments around the world enforced movement restrictions to curb the virus's transmission, resulting in lower crude oil consumption and prices. Reduced oil prices and global government-imposed lockdowns reduced demand for microturbines. Power demand also decreased dramatically since industries and institutions were not allowed to operate. Because of the need for a clean and dependable power source, the Covid-19's reduced effect will relieve the restriction, and the microturbine market is predicted to grow rapidly due to the need for a clean and reliable power source, which will reduce the load on the power grid.



The global microturbine systems market is divided into two categories based on application: CHP Generation and Standby Power. The global microturbine systems market is divided into three categories based on end-use: industrial, commercial, and residential. The global microturbine systems market is divided into four regions: North America, Europe, Asia Pacific, and the Rest of the World.

Capstone Turbine Corporation, NewEn Co Ltd., Elliot Company Inc., Micro Turbine Technology BV, Ingersoll-Rand Company, and Worldwide Microturbine LLC are some of the major players in the global microturbine systems market.

 

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