Dublin, Sept. 29, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Global Microturbine Market 2016-2020" report to their offering. The global microturbine market to grow at a CAGR of 21.32% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global microturbine market for 2016-2020. To calculate the market size, the report considers the revenue generated by the demand for microturbines for its application by end-users in each region and their corresponding key countries. The report also includes a discussion of the key vendors operating in this market.
One of the key trends for market growth will be mixed impact of government policies and subsidies on microturbine market in the US. The US is quite a peculiar market and one of the most important ones for microturbines. Under the ITC Scheme, microturbines are eligible for a credit equal to 10% of expenditures, with the capping at $200 per kW of capacity. However, the ITC Scheme for certain clean technologies, namely CHP, microturbines, and fuel cells, is expiring in December 2016. Talks for extension of ITC Scheme for another five years, According to the report, one of the key drivers for market growth will be rise in adoption of distributed generation capacity propelling microturbines. Power generation, across countries in the world, is moving from centralized to integrated networks with increased reliance on distributed power generation systems. Distributed power technologies are less than 100 MW in size, with the standard being less than 50 MW, which is the limit that distribution systems can accommodate at distribution voltages. Distributed power technologies are characterized by high flexibility and are suited for a wide range of applications such as electric power, propulsion, and mechanical power. Distributed power technologies can operate in the stand-alone mode as well as work in an integrated system catering to the need of both large and small energy users. Further, the report states that microturbine is a relatively new technology compared with its gas engine counterparts. The target customers of microturbines market would already have a source of energy. This makes companies reluctant to try out a new technology. Moreover, the initial switchover cost poses a hurdle to companies adopting a new product. Although the overall operating costs might be similar or even lesser for microturbines, the perceived high capital costs (for installation and commissioning) pose a challenge for the microturbine vendors. Due to limited years of presence in the market, customers are wary about the safety, maintenance, and repair cost associated with microturbines.
Key vendors
- Ansaldo Energia
- Bladon Jets
- Capstone Turbine
- FlexEnergy
Other prominent vendors
- Micro Turbine Tech BV
- Wilson Solarpower
- MME
Key Topics Covered: Part 01: Executive summary Part 02: Scope of the report Part 03: Market research methodology Part 04: Introduction Part 05: Market landscape Part 06: Market segmentation by application Part 07: Market segmentation by end-users Part 08: Geographical segmentation Part 09: Market drivers Part 10: Impact of drivers Part 11: Market challenges Part 12: Impact of drivers and challenges Part 13: Market trends Part 14: Vendor landscape Part 15: Key vendor analysis Part 16: Appendix For more information about this report visit http://www.researchandmarkets.com/research/nb5kcd/global
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