Rising Electricity Demand Drives the Global Micro Gas Turbine for Aeroderivative and Energy Market at a CAGR of 9.05% during the forecast period 2024 to 2034

Market Research Future (MRFR) has published on the “Global Micro Gas Turbine for Aeroderivative and Energy Market”.

The Micro Gas Turbine for Aeroderivative and Energy Market is estimated to register a CAGR of 8.11% during the forecast period of 2024 to 2034.

MRFR recognizes the following companies as the key players in the Global Micro Gas Turbine for Aeroderivative and Energy Market— Capstone Green Energy, GE (General Electric), Rolls-Royce Holdings plc, Safran, Ansaldo Energia S.p.A, Bladon Micro Turbine, UAV Turbines, Aurelia Turbines, and Solar Turbines.

Market Highlights

The Global Micro Gas Turbine for Aeroderivative and Energy Market is accounted for to register a CAGR of 8.11 % during the forecast period and is estimated to reach USD 301,460.2 thousand by 2034.

This growth trajectory is driven by technological advancements, increased capacities, varying force levels, diversification in fuel types, expanding end-use applications, and dynamic regional market trends. The growing demands for microgrids are spurring the development of micro gas turbines significantly, thus changing the power generation and distribution landscape. Small microgrid energy systems capable of operating independently as a grid are becoming essential to modern energy infrastructure. They deliver significantly increased reliability, resilience to failure, and efficiency, especially in areas with shaky grid connections or remote locations where traditional grid extension is not feasible or cost-effective. Micro gas turbines, with their compact size, high efficiency, and low emissions, are ideal for these microgrids. These characteristics have enabled the acceptance and popularity of micro pioneers.

One of the main motivations behind the development of microgrids is to attain a safe and uninterrupted electric power source. In many parts of the world, particularly in developing countries, the central power grid suffers from frequent power cuts and voltage fluctuations that can disrupt industrial processes, commercial activities, and essential services. Microgrids can remove these obstacles by supplying a steady and unbroken stream of electricity, and micro gas turbines play a vital role in this setup. Their ability to operate autonomously from the central grid guarantees that critical facilities such as hospitals, data centers, military installations, and emergency services continue microgrids even if grid failures occur. Using renewable sources such as solar and wind power has also brought about an increase in microgrids. Although renewable energy is an essential pillar of sustainable development, it cannot meet the demand for constant baseload power. Micro gas turbines compensate for this deficiency with reliable backup power and smooth out the fluctuations coming from variable renewable energy output. This hybrid approach raises the reliability of electricity supply overall and maximizes the use of renewable green energy, reducing dependence on fossil energy sources and cutting greenhouse gas emissions. Micro gas turbines have also benefited from technological advances in recent years. Innovations in turbine design, manufacturing techniques, and new materials have substantively improved their efficiency, durability, environment, and performance. Modern models of micro gas turbines can maintain high efficiencies even when operating at low loads, which makes them well-suited for long-term contention with the variable demand profiles of microgrids. Moreover, the use of advanced materials and better combustion methods has reduced emissions of pollutants such as nitrogen oxides (NOx) and carbon dioxide (CO2). Micro gas turbines now comply with stringent environmental regulations and sustainability objectives.

Economic factors have played a significant role in the increasing introduction of micro gas turbines in the microgrid. The cost of extending the central grid to remote or underserved areas could be too high. In contrast, microgrids powered by micro gas turbines provide a more economical alternative that delivers stable and efficient electricity without this expensive infrastructure. This feature is especially beneficial in rural communities, industrial parks, and island regions where traditional grid extension would not be economically viable. Further, having an engine that can be added in increments entirely at will and scaled up or down according to demand, this modular nature of micro gas turbines offers excellent flexibility.

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Segment Analysis

The Global Micro Gas Turbine for Aeroderivative and Energy Market has been segmented based on Technology, Capacity, Force, Fuel Type, End Use and Region.

The global micro gas turbine for aeroderivative and energy market is segmented, based on technology, the global micro gas turbine for aeroderivative and energy market has been bifurcated into Non-Recuperated, and Recuperated. In 2023, the Recuperated segment drove the global micro gas turbine for aeroderivative and energy market by holding a substantial market share. It is projected to register a CAGR of 8.23 % during the projected timeframe. Recuperated MGTs offer significant efficiency improvements and environmental benefits over non-recuperated systems, making them suitable for a wide range of applications. Their ability to reduce fuel consumption and emissions while providing reliable power makes them a valuable technology in the transition towards more sustainable energy solutions.

Based on the End Use, the global Micro Gas Turbine for Aeroderivative and Energy market has been divided into Power Generation, Combined Heat and Power (CHP)Combined Cooling, Heating, and Power (CCHP), Waste Heat Recovery, Oil and Gas Industry, Electric Vehicle (EV) Charging, Emergency Backup Aviation and Other End-Use. In 2023, the Power Generation segment drove the Global Micro Gas Turbine for Aeroderivative and Energy market by holding a substantial market share during the assessment period. This segment accounted for the largest share of the market in 2023 and is expected to remain dominant during the forecast period. Micro gas turbines (MGTs) for power generation are becoming increasingly important in meeting the growing global electricity demand. These turbines are available in two primary technologies: non-recuperated and recuperated. Non-recuperated MGTs are more straightforward and cost-effective but less efficient. Recuperated MGTs, on the other hand, incorporate a heat exchanger to preheat the combustion air using exhaust gases, significantly enhancing fuel efficiency. MGTs come in various capacities to meet different energy needs. Units with capacities ranging from 25kW to 100kW are suitable for small-scale power generation, such as residential or small commercial applications. The mid-range units, from 100kW to 300kW, cater to larger commercial or light industrial applications. The larger units, between 300kW and 500kW, are ideal for extensive industrial operations requiring higher power output.

Regional Analysis

Based on Region, the Micro Gas Turbine for Aeroderivative and Energy market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Europe Micro Gas Turbine for Aeroderivative and Energy market held the 2nd highest market share and is also expected to account for the significant revenue share during the forecast period. The demand for micro gas turbines in Europe, particularly within the aeroderivative and energy sectors, is experiencing robust growth. This upsurge is underpinned by several critical factors, including the increasing need for decentralized power generation, stringent environmental regulations, and a growing emphasis on energy efficiency and sustainability. In the context of the aeroderivative sector, micro gas turbines offer significant advantages due to their compact size, lightweight design, and ability to provide reliable, efficient power. These turbines are derived from aviation technology, which ensures high performance and efficiency, making them ideal for applications requiring quick, reliable power solutions, such as in remote or off-grid locations.

Key Findings of the Study

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  The Global Micro Gas Turbine for Aeroderivative and Energy Market is expected to reach 301,460.2 thousand by 2034, at a CAGR of 8.11% during the forecast period.

  
  


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  The Asia Pacific region accounted for the fastest-growing global market.

  
  


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  Based on Technology, the Recuperated segment was attributed to holding the largest market in 2023.

  
  


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  Based on End Use, the Power Generation segment was attributed to holding the largest market in 2023.

  
  


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  Capstone Green Energy, GE (General Electric), Rolls-Royce Holdings plc, Safran, Ansaldo Energia S.p.A, Bladon Micro Turbine, UAV Turbines, Aurelia Turbines, and Solar Turbines