The global micro turbine market size was valued at USD 219.1 in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2030. Micro turbines are extensively used in Combined Heat and Power (CHP) systems due to their high efficiency in converting fuel into both electricity and heat. This dual functionality makes them an ideal choice for various industrial applications, where energy efficiency and cost savings are critical. The rising adoption of CHP systems in industries is primarily driven by the need to optimize energy usage and reduce operational costs. As industries seek more sustainable and economical energy solutions, the market for micro turbines in CHP applications continues to expand, driving the growth of micro turbines.

Governments worldwide are implementing stringent emission standards and carbon reduction targets to combat climate change and reduce air pollution. These regulations are pushing industries to seek cleaner and more efficient energy solutions, making micro turbines an attractive option due to their lower emissions and ability to utilize renewable fuels such as biogas. Policies incentivizing the use of renewable energy through subsidies, tax credits, and grants further enhance the appeal of micro turbines, as they offer a flexible and cost-effective solution for meeting environmental compliance.

Micro Turbine Market Report Highlights

• Combined Heat Power (CHP) segment held the highest revenue market share of 58.2% in 2023. CHP systems provide decentralized power generation, significantly enhancing energy security by reducing dependence on the central grid and minimizing the adverse effects of grid outages.
• 50 kW-250 kW held the highest revenue market share in 2023. Businesses and institutions are increasingly prioritizing energy-efficient solutions to minimize operational costs, driving the demand for micro turbines in the 50 kW-250 kW range. 
• Industrial segment held the highest revenue market share in 2023. Rapid industrialization and urbanization in countries such as China, India, and various Southeast Asian nations are significantly increasing the demand for reliable and efficient power solutions. 
• North America held the highest revenue market share of 37.2% 2023. The expansion of industrial sectors such as manufacturing, oil and gas, and mining is significantly increasing the demand for efficient and reliable power solutions such as micro turbines. 

Global Micro Turbine Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2030. For this study, Grand View Research has segmented the global artificial intelligence market report based on solution, technology, end use, and region.

• Application Outlook (Revenue, USD million, 2020 - 2030)
  • Combined Heat Power (CHP)
  • Standby Power
    
    
• Power Rating Outlook (Revenue, USD million, 2020 - 2030)
  • 12 kW -50 kW
  • 50 kW-250 kW
  • 250 kW-500 kW
    
    
• End-Use Outlook (Revenue, USD million, 2020 - 2030)
  • Industrial
  • Commercial
  • Residential
    
    
• Regional Outlook (Revenue, USD million, 2020 - 2030)
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
  • Latin America
    • Brazil
  • Middle East and Africa (MEA)
    • KSA
    • UAE
    • South Africa

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