Global Microturbine Market 2016-2020

Power Generation - Sep 20, 2016

The report, now available on ASDReports, recognizes the following companies as the key players in the global microturbine market: Ansaldo Energia, Bladon Jets, Capstone Turbine, and FlexEnergy.

Other Prominent Vendors in the market are: Micro Turbine Tech BV, Wilson Solarpower, and MME.

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Global Microturbine Market 2016-2020

Commenting on the report, an analyst said: “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.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Source : ASDReports - Market Research

Published on Global Energy World: Sep 20, 2016