Global microturbine market dominated by Ansaldo Energia S.p.A, Bowman Power Group Ltd., Capstone Turbine Corp., Elliott Co. Inc., and FlexEnergy Inc. in 2013
Global Microturbine Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 09:25:04
The Global Microturbine market is forecast to grow at a CAGR of 17.1 percent over the period 2013-2018. One of the key factors contributing to this market growth is the rising global energy demand. The Global Microturbine market has also been witnessing the opportunity to sell excess power to main grids. However, the difficulty in interconnection with power grids could pose a challenge to the growth of this market.
Key vendors dominating this space are Ansaldo Energia S.p.A, Bowman Power Group Ltd., Capstone Turbine Corp., Elliott Co. Inc., and FlexEnergy Inc.
Other vendors mentioned in the report are Apicom SpA, F4energy Ltd, CSM Ltd., Geveke Power Systems, Global Microturbine LLC, Micro Turbine Technology BV, and NewEnCo Ltd.
The following companies represent the key players in Global Microturbine Market: Ansaldo Energia S.p.A, Bowman Power Group Ltd., Capstone Turbine Corp., Elliott Co. Inc., and FlexEnergy Inc.
One of the major trends being witnessed in the Global Microturbine market is the opportunity to sell excess generated power to the main power grid and thereby offset costs. Many industrial and commercial projects use microturbines for their power requirement during the life span of the projects. During this time, the excess power that is generated can be sold to the main grid, enabling these companies to earn sizable revenue. For generating extra power, many vendors are operating microturbines at the highest practical temperature. This will increase the pressure ratio, which results in higher efficiency and specific power. Hence, the opportunity to sell excess power to the grid will propel the growth of the Global Microturbine market over the next few years.
One of the major drivers in this market is the rising global energy demand. The increasing demand for energy across the globe has a positive influence on the demand for microturbines, which is expected to continue during the remaining years of the forecast period.
Further, one of the major challenges in this market is the difficulty in interconnection with the power grids. During the injection of electricity generated by microturbines into the power grid, the frequency has to be maintained to avoid any complexity. Moreover, any voltage fluctuations or a difference in the configuration of control wires in the microturbines could lead to interconnection issues, which could result in the wastage of the power generated.
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