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 2036, 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 2036, 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: