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Micro turbine – Market Analysis & Opportunity Assessment, 2014 - 2020

Oct 16, 2014 | Chemicals & Materials | FMI

Micro turbines are small turbines that act as prime movers for electricity generators. These turbines work on gaseous and liquid fuels and can also run on exhaust gases. These turbines also produce power along with usable exhaust heat, termed as combined heat and power. Power generated by these turbines is economical when compared to conventional power generation sources. These micro turbine-based systems are also preferred for captive power generation. Micro turbines are considered as reliable and cleaner sources or equipment for power generation as their assembly consists of less number of moving parts. In addition, these turbines, when compared to reciprocating engines, produce lesser emissions. The aforementioned parameters help micro turbines reduce down time and lower the maintenance and operation cost. However, micro turbines cost higher than conventional engines due to their complex design features.

Micro turbines are usually preferred for distributed generation and waste heat recovery systems. Some limitations such as low electrical efficiency and high initial investment cost hamper the rapid adoption of micro turbines across industries. Developments in technology and micro turbine systems indicate an opportunity for use as power backup for residential units. The quality of low exhaust gas emission makes this technology attractive to research and development institutions such as U.S.EPA and other companies in further exploring its potential. Currently, the micro turbine market represents low volume and high growth market. It is expected to exhibit a double-digit CAGR under 20% over the next five years. Some of the market players include Capstone Turbine Corporation, Dynamo Micropower, GE Power & Water's Distributed Power, Ballard Power System, Bladon Jets, and other power equipment and technology providing companies.