Microturbines Market Analysis

Application (Combined Heat and Power, Standby Power)

The combined heat and power segment is estimated to gain the largest market share of about 56% in the year 2037, 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 in the coming years.

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 (Industrial, Commercial, and Residential)

The industrial segment is expected to garner a significant share of around 39% in the year 2037, 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. All these factors are also anticipated to drive market segment growth.

Our in-depth analysis of the global market includes the following segments:

Application	Combined Heat and Power Standby Power
Power Rating	12–50 kW 50–250 kW 250–500 kW
End User	Industrial Commercial Residential

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of microturbines is assessed at USD 92.79 billion.

The microturbines market size was valued at USD 80.03 billion in 2024 and is expected to reach USD 263.51 billion by 2037, expanding at around 9.6% CAGR during the forecast period i.e., between 2025-2037. The rising adoption of natural gas micro turbine generators to generate electricity and heat will drive the market growth.

North America industry is predicted to account for largest revenue share of 40% by 2037, owing to presence of key players in the countries like U.S. and the ongoing advancements in power generation technology to increase the utilization of renewable energy sources for power consumption.

The major players in the market are Brayton Energy LLC, Toyota Motor Corporation, Capstone Turbine Corporation, Ansaldo Energia S.P.A., ICR Turbine Engine Corporation, NewEnCo., Eneftech Innovation SA, Wilson Solar Power Corporation, Bladon Micro Turbine, Bowman Consulting Group Ltd.

Microturbines Market Analysis