Capstone Turbine (US) and FlexEnergy (US) are the Key Players in the Micro Turbines Market
The global micro turbines market is projected to grow at a CAGR of 9.46%, from 2017 to 2022. This market growth is primarily driven by the growing adoption of distributed power generation which is power generation that is independent of the electrical grid. The frequent power blackouts due to increased loads on electrical grids have resulted in the rise of distributed power generation, thereby, driving the micro turbines market.
North America will continue to be the largest market for micro turbines followed by Europe during the forecast period. The global market is dominated by a few players including Capstone Turbine (US), Ansaldo Energia (Italy), FlexEnergy (US), MTT (Netherlands), and Toyota Turbine and Systems (Japan).
The major growth strategies adopted by the key players in the micro turbines market include new product launches and contracts & agreements, which was the most adopted strategy between 2014 and September 2017. Industry players also adopted mergers & acquisitions between 2014 and September 2017.
Capstone Turbines is a leading manufacturer of clean and green micro turbines. The company offers a complete set of micro turbine solutions from 30 kW to 1 MW of electric power output. The company is mainly involved in the development, manufacturing, marketing, and provision of services related to micro turbine technology. Capstone’s micro turbine technology solutions are used in stationary distributed power generation applications, including cogeneration (combined heat and power), integrated combined heat and power (ICHP), combined cooling, heat and power (CCHP), and renewable energy, natural resources and critical power supply. Capstone also remanufactures micro turbine engines and provides aftermarket parts and services for the same. The company markets and sells its products internationally, mainly through distributors and original equipment manufacturers. The company adopted contracts & agreements as one of its key growth strategies to maintain its market position. In September 2017, the company executed a 5-year agreement with a large greenhouse operation in Colorado, US. The firm would be installing multiple propane-fired C65 micro turbines to provide electricity for the Colorado greenhouse.
FlexEnergy is one of the leading manufacturers of robust small gas turbines and turbine generators. The company provides micro turbines through its Flex leasing segment. These micro turbines are more suitable for remote oilfield environments. The company acquired the Energy Systems division of Ingersoll-Rand (US) in 2010, which included the MT250 Series micro turbine. FlexEnergy has organized its products and services into 2 segments, Flex turbine, and leasing. The GT250 and GT333S micro turbines fall under the leasing/rental segment. The company has partnerships with firms such as Quad Energy, Inc. (US), Argo Energy Solutions (Mexico), Baxter Engineering Ltd. (Italy), and Pt Fajar Mas Murni (Indonesia). The company adopted contracts & agreements as its key strategy. In June 2016, FlexEnergy received an order for 3 GT333S natural gas micro turbine generators for a New York hospital through its distributor for New York, Quad Energy.
Related Reports:
Micro Turbines Market by Power Rating (12–50 kW, 50–250 kW, and 250–500 kW), Application (Combined Heat and Power and Standby Power), End-User (Industrial, Commercial, and Residential), and Region - Global Forecast to 2022
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