Home > Energy & Power > Electrical Equipment > Turbines > Micro Gas Turbine Market

Micro Gas Turbine Market Size

Report ID: GMI6150
Published Date: Jul 2023
Report Format: PDF

Download Free Sample

Micro Gas Turbine Market Size

Micro Gas Turbine Market size was valued at USD 107.8 million in 2023 and is anticipated to expand at 7.5% CAGR from 2024 to 2032. The global market for gas turbine is expected to cross a valuation of USD 19.9 billion by 2032.

Micro Gas Turbine Market

To get key market trends

Download Free Sample

The ongoing remote oil & gas operations particularly for offshore platforms and well sites will be a significant factor propelling the industry growth. Increasing applicability across aerospace and defense applications along with significant advancements in combustion technology will fuel the business dynamics. In addition, the need for reliable and decentralized power supply is driving the demand for these units.

Micro Gas Turbine Market Report Attributes
Report Attribute	Details
Base Year:	2023
Micro Gas Turbine Market Size in 2023:	USD 107.8 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7.5%
2032 Value Projection:	USD 206.2 Million
Historical Data for:	2019 to 2023
No. of Pages:	225
Tables, Charts & Figures:	496
Segments covered:	Capacity, Application
Growth Drivers:	Increasing demand for distributed power generation Large scale integration of renewable energy Growing demand for clean and low-emission power solutions Flourishing oil & gas sector

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of micro gas turbine reached USD 107.8 million in 2023 and is projected to expand at 7.5% CAGR from 2024 to 2032, driven by the ongoing remote oil & gas operations, particularly for offshore platforms and well sites.

The > 50 kW to 250 kW rate segment held more than 35% of the industry share in 2022 and is estimated to expand at robust growth rate through 2032 owing to the wide-scale utilization of these units across district heating systems along with the growing focus on energy efficiency.

Europe micro gas turbine sector crossed a valuation of USD 22.8 million in 2022 and is projected to witness substantial growth between 2023 and 2032 attributed to the paradigm shift toward cleaner energy solutions together with stringent emission norms.

Prominent enterprises engaged in the micro gas turbine industry are Capstone Turbine Corporation, Flex Energy Solutions, Ansaldo Energia S.p.A., MTT bv, Aurelia Turbines Oy, Brayton Energy, LLC, Bladon Jets, Elliott Group, Aerostrovilos, TURBOTECH PRECISION ENGINEERING, Erlson Precision Components, TOYOTA MOTOR CORPORATION, Kawasaki Gas Turbine Asia, and Destinus Energy.