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Europe Micro Gas Turbine Market Size
Europe Micro Gas Turbine Market was valued at USD 24.7 million in 2023 and is estimated to grow at a CAGR of 7.5% during 2024 to 2032. The continued remote operations in the oil & gas industry especially for offshore platforms and well sites will significantly drive the business growth.
A micro gas turbine is a compacted power generation device that converts fuel into mechanical energy by burning gaseous fuel. Its operation involves compressing incoming air, blending it with fuel, and igniting the mixture to generate high-temperature exhaust gases. These gases then expand through a turbine, which drives a generator to produce electricity. These gas turbines are lightweight and versatile, making them ideal for applications including combined heat & power systems and distributed energy generation.
Report Attributes | Details |
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Base Year: | 2023 |
Market Size in 2023: | USD 24.7 Million |
Forecast Period: | 2024 to 2032 |
Forecast Period 2024 to 2032 CAGR: | 7.5% |
2032 Value Projection: | USD 47.4 Million |
Historical Data for: | 2021 to 2023 |
No. of Pages: | 100 |
Tables, Charts & Figures: | 10 |
Segments covered: | Capacity, Application & Country |
Growth Drivers: |
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Pitfalls & Challenges: |
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Europe Micro Gas Turbine Market Trends
The rising demand for micro gas turbines primarily across emerging countries combined with increasing inclination toward cost reduction will drive the product deployment. The growing emphasis on cogeneration and the expanding applications of waste heat recovery will enhance the business potential. The business dynamics will be fueled by the wide scale utilization of these turbines across aerospace and defense applications along with significant advancements in combustion technology. Additionally, the growing demand for reliable and decentralized electricity supply is set to augment the industry landscape.
Europe Micro Gas Turbine Market Analysis
![Europe Micro Gas Turbine Market Size, By Capacity, 2022 - 2032 (USD Million) Europe Micro Gas Turbine Market Size, By Capacity, 2022 - 2032 (USD Million)](https://cdn.gminsights.com/image/rd/energy-mining-oil-and-gas/europe-micro-gas-turbine-market-size-by-capacity-2024-2032.webp)
The > 50 kW to 250 kW micro gas turbine market will exceed over USD 15 million by 2032. The widespread adoption of these units in district heating systems along with an increasing emphasis on energy efficiency will fuel the business potential. Significant growth in the development of commercial buildings along with a shift towards grid energy solutions will positively impact the industry potential. The commercial and small-scale industries are propelled by the increasing demand for utility-scale power generation, accelerating the business outlook.
![Europe Micro Gas Turbine Market Revenue Share, By Application, 2023 Europe Micro Gas Turbine Market Revenue Share, By Application, 2023](https://cdn.gminsights.com/image/rd/energy-mining-oil-and-gas/europe-micro-gas-turbine-market-revenue-share-by-application-2024-2032.webp)
The renewable micro gas turbine market size will witness a growth rate of over 8% through 2032. The rising demand for long-range electric vehicles along with the growing need for energy-efficient transportation will enhance the business prospects. Additionally, increasing infrastructure investments and a shift in government focus toward reducing dependence on fossil fuels will stimulate the industry dynamics.
![UK Micro Gas Turbine Market Size, 2022 - 2032 (USD Million) UK Micro Gas Turbine Market Size, 2022 - 2032 (USD Million)](https://cdn.gminsights.com/image/rd/energy-mining-oil-and-gas/uk-micro-gas-turbine-market-size-2024-2032.webp)
The UK micro gas turbine market is set to surpass USD 5 million by 2032. The paradigm shifts toward cleaner energy solutions alongside stringent emission norms will drive the product adoption. The growing demand for distributed power generation coupled with a shift in government focus toward reducing greenhouse gas emissions and energy consumption, will further accelerate the industry growth. In addition, the ongoing implementation of supportive policies and incentives including feed-in tariffs, tax credits and grants will enhance the business landscape.
Stringent government focus toward reducing carbon emissions along with enhancing energy efficiency will positively sway the Germany micro gas turbine market. The supportive regulatory framework and incentives for clean energy technologies further bolster the adoption of these turbines. Furthermore, advancements in technology and reductions in operational costs are making these systems more economically viable, spurring their deployment across wide multitude of application areas.
Europe Micro Gas Turbine Market Share
![Europe Micro Gas Turbine Company Market Share Analysis, 2023 Europe Micro Gas Turbine Company Market Share Analysis, 2023](https://cdn.gminsights.com/image/rd/energy-mining-oil-and-gas/europe-micro-gas-turbine-company-market-share-analysis-2024-2032.webp)
Elliott Group is renowned for its expertise in manufacturing and servicing micro gas turbines, setting a benchmark in the industry for reliability, efficiency, and performance. The company has continuously pushed the boundaries of innovation to cater to the evolving needs of its customers. Its micro gas turbines offer a compact yet powerful solution for various applications, including power generation, oil and gas, and industrial processes. Leveraging advanced engineering techniques and cutting-edge technology, Elliott Group ensures that their turbines deliver optimal performance while adhering to stringent quality standards. From design and manufacturing to installation and maintenance, the company provides comprehensive solutions tailored to meet the unique requirements of each project, making them a trusted partner for businesses seeking reliable and efficient energy solutions.
Europe Micro Gas Turbine Market Companies
The key industry players include:
- Aerostrovilos
- Ansaldo Energia S.p.A.
- Aurelia Turbines Oy
- Bladon Jets
- Bowman Power Group
- Brayton Energy, LLC
- Capstone Turbine Corporation
- Destinus Energy
- Elliott Group
- Erlson Precision Components
- Flex Energy Solutions
- Kawasaki Gas Turbine
- MTT
- TOYOTA MOTOR CORPORATION
- TURBOTECH PRECISION ENGINEERING
Europe Micro Gas Turbine Industry News
- In December 2022, MTT has introduced the EnerTwin, the pioneering micro CHP system globally, leveraging a compact gas turbine design. This innovative system not only provides both heat and electricity but also efficiently warms your premises, effectively cutting down electricity expenses from the grid. Utilizing advanced gas turbine technology, the EnerTwin boasts a maintenance cost that's merely 20% of its competitors in the micro CHP market. As a result, users can significantly slash their energy expenditures, with total cost of ownership (TCO) dropping by over 50% in various scenarios compared to traditional alternatives.
- In May 2022, Capstone Green Energy Corporation has formed a partnership with Cal Microturbine, designating them as the official distributor across California, Hawaii, Oregon, Washington, and Nevada. Additionally, Capstone has secured orders for six C65 microturbine units to be dispersed among different sites in California. These microturbines will find application in sectors such as oil & gas, hospitality, and agriculture. The commencement of these systems' operation is anticipated in the early months of 2030.
This Europe micro gas turbine market research report includes in-depth coverage of the industry with estimates & forecast in terms of “kW” & “USD Million” from 2021 to 2032, for the following segments:
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Market, By Capacity
- ≤ 50 kW
- > 50 kW to 250 kW
- > 250 kW to 500 kW
- > 500 kW
Market, By Application
- Power Generation
- Oil & Gas
- Commercial & Industrial CHP
- Renewable
- Hybrid Vehicles
- Marine
- Others
The above information has been provided for the following countries:
- UK
- France
- Germany
- Russia
- Norway
- Netherlands
Frequently Asked Questions (FAQ) :