Micro Turbines Market-Size, Insights of Scope, Compound Annual Growth, Forecast to-2022(Trending Report)

Japan, Japan, Thu, 06 Jan 2022 01:03:58 / Comserve Inc. / -- The micro turbines market is estimated to be USD 159.7 million in 2017 and is projected to reach USD 251.0 million by 2022, growing at a CAGR of 9.46%, from 2017 to 2022.

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

The micro turbines market is estimated to be USD 159.7 million in 2017 and is projected to reach USD 251.0 million by 2022, growing at a CAGR of 9.46%, from 2017 to 2022. The increasing demand for power worldwide, subsequent investments in new power generating capacity, and growing adoption of combined heat and power (CHP) is driving the market for micro turbines across the world.

The industrial segment accounted for more than half of the micro turbines market in 2016. This can be attributed to increased operations in the construction, manufacturing, mining, oil & gas, automotive, and pharmaceuticals industries. The oil & gas sector is a vital industry for micro turbine applications as various commodity prices depend on the price of oil. Micro turbines also find application in the renewable energy industry, particularly in wastewater treatment plants where the environmentally harmful gas methane is used to generate electricity and heat, thereby, resulting in the production of clean energy.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Micro Turbines Market-Size, Insights of Scope, Compound Annual Growth, Forecast to-2022(Trending Report)

North America is the largest market for micro turbines followed by Europe and Asia Pacific. The US accounted for a majority share of the North American market in 2016, while the Canadian market is projected to grow at the highest CAGR from 2017 to 2022. Aging power plants and frequent natural calamities have created enormous growth opportunities for the micro turbines market in this region. The shale gas boom in North America and decommissioning of nuclear plants in Europe are driving the micro turbines markets in those regions.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 62%, Tier 2- 23%, Tier 3- 15%
By Designation: C-Level- 25%, D-Level- 35%, Others- 40%
By Region: North America- 29%, Europe- 18%, Asia Pacific- 42%, RoW- 11%

Research Coverage:
The report provides a picture of the micro turbines market across the power industry and regions. It aims at estimating the size and future growth potential of the market across different segments such as architecture, stream, and region. Furthermore, the report also includes an in-depth competitive analysis of key players in the market along with their company profiles, recent developments, and key market strategies.

For the purposes of this report, the market has been segmented on the basis of application, end-user, power rating, and region, with a focus on industry analysis (industry trends), market share analyses of the top players, supply chain analysis, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the micro turbines market, high-growth regions, and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:

• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the micro turbines market

• Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the micro turbines market across regions

• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global micro turbines market

Why Buy this Report?
1. The report identifies and addresses key markets for implementation of micro turbines in the power industry, which would help manufacturers review the growth in demand.
2. The report helps solutions providers understand the pulse of the market and provides insights into drivers, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.

TABLE OF CONTENTS

1 INTRODUCTION 13
1.1 OBJECTIVES OF THE STUDY 13
1.2 MARKET DEFINITION 13
1.3 MARKETS COVERED 14
1.3.1 REGIONAL SCOPE 14
1.4 YEARS CONSIDERED FOR THE STUDY 15
1.5 CURRENCY 15
1.6 STAKEHOLDERS 15
2 RESEARCH METHODOLOGY 16
2.1 INTRODUCTION 16
2.1.1 SECONDARY DATA 17
2.1.1.1 Key data from secondary sources 17
2.1.2 PRIMARY DATA 18
2.1.2.1 Key data from primary sources 18
2.1.2.2 Key industry insights 19
2.1.2.3 Breakdown of primary interviews 20
2.2 MARKET SIZE ESTIMATION 21
2.2.1 BOTTOM-DOWN APPROACH 21
2.2.2 TOP-DOWN APPROACH 22

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