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Micro Gas Turbine Market Trends

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

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Micro Gas Turbine Market Trends

The growing demand for micro gas turbines in developing countries coupled with a focus on cost reduction will continue to entail the unit deployment. The increasing emphasis on cogeneration aligned with the expanding applications of waste heat recovery will strengthen the business potential. These systems offer compact size, high efficiency, and low emissions, making them suitable for a range of applications primarily commercial and industrial sector.

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.