Microturbines Market Segmentation:
Application Segment Analysis
The combined heat and power segment is predicted to hold more than 56% revenue share by 2035, owing to the increasing utilization of combined heat and power (CHP) in wastewater treatment. Additionally, the increasing demand for paper worldwide, the growing number of paper mills, and the rising installations of CHP plants in the paper & pulp industry are predicted to hike the market segment growth.
Moreover, the augmenting application of combined heat in new small- and medium-sized nuclear reactors is also expected to have a positive impact on the market segment growth.
End User Segment Analysis
The industrial segment is expected to garner a significant share of around 39% in the year 2035, backed by the need for advanced storage systems in the industries. With microturbines becoming apt for many applications where the requirement for continuous power production is high, the demand for microturbines is augmenting in several industries.
Microturbines can generate a large amount of energy compared to their size and can be placed on-site, facilitating security and maintenance.
Our in-depth analysis of the global market includes the following segments:
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Power Rating |
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