On 15rd July 2014
Increasing energy demand-supply gap, rising adoption of low emission power generation sources and need to generate power cost efficiently are some of the factors that are accelerating the market for microturbines globally. Further, ability to run on multiple fuels is another key factor which is spurring the demand for microturbines Low power rating microturbines have dominated global microturbine market, with their demand increasing on account of increasing usage in hybrid electric vehicles. Further,
R&D initiatives towards enhancing the efficiency of microturbine is expected to provide necessary boost to its demand. Companies such as Brayton Energy and Capstone are the key players which are working towards developing efficient microturbines.
According to Global Microturbine Market Forecast & Opportunities, 2019, the global microturbine market is projected to reach USD 396 million by 2019. North America and Europe are the leading microturbine markets, accounting for majority of the share in global market. The demand for Combined
Cooling & Heating Power (CCHP) and Combined Heating & Power (CHP) generation technologies is expected to increase significantly due to rising concerns for global warming and depleting natural resources such as coal and oil. The rising tariff rate of electricity and increasing energy deficit is also forecast to propel the demand for environment-friendly technologies including microturbine technology. The adoption of microturbine technology is further supported by continuing technological developments to enhance the performance characteristics of the technology with grid integrated microturbine systems, solar-hybrid microturbine system and integrated fuel cell & microturbine system.
Presently, Capstone is the leading player in the global microturbine market and the company is expected to continue its dominance through 2019. Global Microturbine