Albany, NY (PRWEB) December 19, 2013
According to a new market report published by Transparency Market Research, "Microturbine Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," global microturbine systems market was valued at USD 144.4 million in 2012, growing at a CAGR of 16.7% from 2013 to 2019. Annual installation was 123.2 MW in 2012 and is expected to reach 447.4 MW in 2019, growing at a CAGR of 19.8% from 2013 to 2019.
Browse the full report with complete TOC at http://www.transparencymarketresearch.com/microturbines-market.html.
Rising global energy demand with increasing grid instability is expected to bolster microturbine systems market growth over the next five to six years. Impending stringent environmental regulations to curb down harmful emissions accompanied by increased awareness about clean and green energy generation are further fuelling the product demand. Increasing electricity consumption in off grid areas is likely to create new opportunities for the market, as these systems can be installed at a number of remote locations owing to its compact size and reliability. Inception of supercritical CO2 (Organic Rankine Cycle) with 16% more efficiency than conventional microturbine systems is probable to lay down new opportunities for the market.
Major end use segments analyzed in this report include residential, commercial and industrial microturbine markets. Low power rating requirements (30 KW to 200 KW) of commercial end use segment is expected to drive microturbine systems market over the coming years. As a result the commercial end use segment is expected to grow at a CAGR of 20.2% over the forecast period. Industrial end use segment dominated microturbines market in 2012 which accounted for 59.33% market share. Furthermore, the market is categorized as per CHP generation and standby power applications of which CHP generation accounting for more than 67.0% market share in 2012.
North America dominated the microturbine systems market, accounting for 42.82% of the overall market in 2012. United States, Canada and Mexico are the key regional markets in North America wherein the U.S. dominated the market in 2012 and is expected to continue its dominance over the coming years. Increasing carbon footprint and regulatory intervention of several environmental agencies including CAA (Clean Air Act) are likely to fuel product demand in North America.
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Restructured EU NEC (European Union National Emission Ceilings) policies have assisted the microturbine market prosper significantly over the past couple of years. Asia Pacific microturbine systems market is estimated to reach USD 61.1 million by 2019 while Rest of the World microturbine systems market is expected to grow at a CAGR of 19.6% from 2013 to 2019 owing to the strong supportive schemes made available by the Brazilian government and increased energy demand in off grid areas of Africa.
The key market participants in the industry include Capstone Turbine Corporation, FlexEnergy, Global Microturbine LLC, and NewEnCo. The report provides an overview of these companies followed by their financial revenue, business strategies, and recent developments.