Global Microturbines Market to reach USD XX billion by 2027.Global Microturbines Market is valued approximately at USD XX million in 2020 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2021-2027. Microturbines are new distributed technology which is used for stationary power producing applications. These turbines can generate both heat and power on a relatively small scale. A microturbine runs on numerous varieties of fuels such as biogas, natural gas, diesel, alcohol, LPG, and hydrogen. Favorable government regulations for generation of electricity from renewable sources and rising environmental concerns for global warming and burning of fossil fuels are the factors which are driving the growth of Microturbines Market. For instance, According to International Energy Agency, global energy utilization rose by 2.3% in 2018, double than the average rate in the last decade. Moreover, the demand for energy increased with the rate of 4% and the percentage of power in worldwide power intake reached 20% in 2018. As demand for power will increase, it is predicted requirements of micro turbine may also increase notably. Furthermore, growth in distributed power generation capacity will be anticipating the growth of market in forecasted period. However, high level of competition from developing entrant and key market players may impede market growth over the forecast period of 2021-2027.

Global Microturbines Market analysis on basis of region which includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region across the world in terms of market size due to aging power plants and frequent natural calamities in the region. Whereas North America is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to increasing demand of electricity and adoption of renewable energies in the region.
Major market player included in this report are:
Capstone Turbine Corporation
NewEnCo Ltd.
Elliot Company Inc.
Micro Turbine Technology BV
FlexEnergy Inc.
Ingersoll-Rand Company
Global Microturbine LLC.
Ansaldo Energia
Toyota Turbine and Systems
Bowman
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Application:
CHP Generation
Standby Power
By End-User:
Industrial
Commercial
Residential
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Microturbines Market Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors