Product Code: PM5472
The global micro turbine market size is expected to reach USD 537.55 million by 2034, according to a new study by Polaris Market Research. The report "Micro Turbine Market Size, Share, Trends, Industry Analysis Report: Application [Combined Heat & Power (CHP) and Standby Power], Power Rating, End User, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Micro turbines are small, compact combustion turbines that generate electricity and heat for industrial, commercial, and residential applications. They typically range from 25 kW to 500 kW in capacity and are widely used in combined heat and power (CHP) systems, backup power, and distributed generation applications. Micro turbines have gained attraction with rising concerns over climate change and the need for sustainable energy solutions, as they offer benefits such as low emissions, high reliability, and fuel flexibility. Micro turbine market opportunities lie in rapid advancements in technology, leading to increased efficiency and broader adoption across various industries, such as power generation.
The growing emphasis on reducing greenhouse gas emissions and improving energy efficiency is propelling the micro turbine market growth. Industries and commercial enterprises are under pressure to comply with stringent environmental regulations aimed at reducing carbon footprints. Micro turbines offer a cleaner alternative to traditional internal combustion engines, producing lower emissions of nitrogen oxides (NOx) and particulate matter. Moreover, when integrated into CHP systems, they achieve higher overall efficiency by utilizing waste heat for heating and cooling applications. This dual benefit of power generation and heat recovery makes micro turbines an attractive option for industries seeking to optimize energy use while minimizing environmental impact. Furthermore, advancements in micro turbine technology, such as improved recuperators and advanced combustion techniques, are enhancing efficiency and reducing emissions, making them a more sustainable choice for reducing greenhouse gas emissions.
Micro Turbine Market Report Highlights
In terms of application, the combined heat & power (CHP) segment dominated the micro turbine market share in 2024 due to its superior energy efficiency and cost-saving benefits.
Based on end user, the industrial segment dominated the market in 2024 due to the rising demand for efficient and reliable on-site power generation.
North America dominated the global micro turbine market revenue share in 2024 due to the strong demand for decentralized power solutions and the presence of well-established industrial and commercial sectors.
The micro turbine market in Asia Pacific is estimated to grow at a rapid pace during the forecast period, owing the rapid industrialization, urbanization, and rising energy demand.
A few of the global key market players are 247Solar, Ansaldo Energia, Aurelia, Bladon Jets, Bowman, Brayton Energy, Capstone Green Energy, Eneftech Innovation, FlexEnergy, ICRTec, Toyota Turbine and Systems, and Turbo Tech.
Polaris Market Research has segmented the micro turbine market report on the basis of application, power rating, end user, and region:
By Application Outlook (Revenue, USD Million, 2020-2034)
- Combined Heat & Power (CHP)
- Standby Power
By Power Rating Outlook (Revenue, USD Million, 2020-2034)
- 12 kW-50 kW
- 50 kW-250 kW
- 250 kW-500 kW
By End User Outlook (Revenue, USD Million, 2020-2034)
- Industrial
- Commercial
- Residential
By Regional Outlook (Revenue, USD Million, 2020-2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Source
- 3.2.1. Primary Source
- 3.2.2. Secondary Source
4. Global Micro Turbine Market Insights
- 4.1. Micro Turbine Market - Market Snapshot
- 4.2. Micro Turbine Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing Urbanization Globally
- 4.2.1.2. Growing Advancement in Technology
- 4.2.2. Restraints and Challenges
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Micro Turbine Market Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Micro Turbine Market, by Application
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 5.3. Combined Heat & Power (CHP)
- 5.3.1. Global Micro Turbine Market, by Combined Heat & Power (CHP), by Region, 2020-2034 (USD Million)
- 5.4. Standby Power
- 5.4.1. Global Micro Turbine Market, by Standby Power, by Region, 2020-2034 (USD Million)
6. Global Micro Turbine Market, by Power Rating
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 6.3. 12 kW -50 kW
- 6.3.1. Global Micro Turbine Market, by 12 kW -50 kW, by Region, 2020-2034 (USD Million)
- 6.4. 50 kW-250 kW
- 6.4.1. Global Micro Turbine Market, by 50 kW-250 kW, by Region, 2020-2034 (USD Million)
- 6.5. 250 kW-500 kW
- 6.5.1. Global Micro Turbine Market, by 250 kW-500 kW, by Region, 2020-2034 (USD Million)
7. Global Micro Turbine Market, by End User
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 7.3. Industrial
- 7.3.1. Global Micro Turbine Market, by Industrial, by Region, 2020-2034 (USD Million)
- 7.4. Commercial
- 7.4.1. Global Micro Turbine Market, by Commercial, by Region, 2020-2034 (USD Million)
- 7.5. Residential
- 7.5.1. Global Micro Turbine Market, by Residential, by Region, 2020-2034 (USD Million)
8. Global Micro Turbine Market, by Geography
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Micro Turbine Market Assessment, By Geography, 2020-2034 (USD Million)
- 8.3. Micro Turbine Market - North America
- 8.3.1. North America: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.3.2. North America: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.3.3. North America: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.3.4. Micro Turbine Market - U.S.
- 8.3.4.1. U.S.: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.3.4.2. U.S.: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.3.4.3. U.S.: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.3.5. Micro Turbine Market - Canada
- 8.3.5.1. Canada: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.3.5.2. Canada: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.3.5.3. Canada: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.4. Micro Turbine Market - Europe
- 8.4.1. Europe: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.4.2. Europe: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.4.3. Europe: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.4.4. Micro Turbine Market - UK
- 8.4.4.1. UK: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.4.4.2. UK: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.4.4.3. UK: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.4.5. Micro Turbine Market - France
- 8.4.5.1. France: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.4.5.2. France: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.4.5.3. France: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.4.6. Micro Turbine Market - Germany
- 8.4.6.1. Germany: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.4.6.2. Germany: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.4.6.3. Germany: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.4.7. Micro Turbine Market - Italy
- 8.4.7.1. Italy: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.4.7.2. Italy: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.4.7.3. Italy: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.4.8. Micro Turbine Market - Spain
- 8.4.8.1. Spain: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.4.8.2. Spain: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.4.8.3. Spain: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.4.9. Micro Turbine Market - Netherlands
- 8.4.9.1. Netherlands: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.4.9.2. Netherlands: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.4.9.3. Netherlands: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.4.10. Micro Turbine Market - Russia
- 8.4.10.1. Russia: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.4.10.2. Russia: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.4.10.3. Russia: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.4.11. Micro Turbine Market - Rest of Europe
- 8.4.11.1. Rest of Europe: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.4.11.2. Rest of Europe: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.4.11.3. Rest of Europe: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.5. Micro Turbine Market - Asia Pacific
- 8.5.1. Asia Pacific: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.5.2. Asia Pacific: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.5.3. Asia Pacific: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.5.4. Micro Turbine Market - China
- 8.5.4.1. China: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.5.4.2. China: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.5.4.3. China: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.5.5. Micro Turbine Market - India
- 8.5.5.1. India: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.5.5.2. India: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.5.5.3. India: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.5.6. Micro Turbine Market - Malaysia
- 8.5.6.1. Malaysia: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.5.6.2. Malaysia: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.5.6.3. Malaysia: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.5.7. Micro Turbine Market - Japan
- 8.5.7.1. Japan: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.5.7.2. Japan: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.5.7.3. Japan: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.5.8. Micro Turbine Market - Indonesia
- 8.5.8.1. Indonesia: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.5.8.2. Indonesia: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.5.8.3. Indonesia: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.5.9. Micro Turbine Market - South Korea
- 8.5.9.1. South Korea: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.5.9.2. South Korea: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.5.9.3. South Korea: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.5.10. Micro Turbine Market - Australia
- 8.5.10.1. Australia: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.5.10.2. Australia: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.5.10.3. Australia: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.5.11. Micro Turbine Market - Rest of Asia Pacific
- 8.5.11.1. Rest of Asia Pacific: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.5.11.2. Rest of Asia Pacific: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.5.11.3. Rest of Asia Pacific: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.6. Micro Turbine Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.6.2. Middle East & Africa: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.6.3. Middle East & Africa: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.6.4. Micro Turbine Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.6.4.2. Saudi Arabia: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.6.4.3. Saudi Arabia: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.6.5. Micro Turbine Market - UAE
- 8.6.5.1. UAE: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.6.5.2. UAE: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.6.5.3. UAE: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.6.6. Micro Turbine Market - Israel
- 8.6.6.1. Israel: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.6.6.2. Israel: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.6.6.3. Israel: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.6.7. Micro Turbine Market - South Africa
- 8.6.7.1. South Africa: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.6.7.2. South Africa: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.6.7.3. South Africa: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.6.8. Micro Turbine Market - Rest of Middle East & Africa
- 8.6.8.1. Rest of Middle East & Africa: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.6.8.2. Rest of Middle East & Africa: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.6.8.3. Rest of Middle East & Africa: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.7. Micro Turbine Market - Latin America
- 8.7.1. Latin America: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.7.2. Latin America: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.7.3. Latin America: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.7.4. Micro Turbine Market - Mexico
- 8.7.4.1. Mexico: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.7.4.2. Mexico: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.7.4.3. Mexico: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.7.5. Micro Turbine Market - Brazil
- 8.7.5.1. Brazil: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.7.5.2. Brazil: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.7.5.3. Brazil: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.7.6. Micro Turbine Market - Argentina
- 8.7.6.1. Argentina: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.7.6.2. Argentina: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.7.6.3. Argentina: Micro Turbine Market, by End User, 2020-2034 (USD Million)
- 8.7.7. Micro Turbine Market - Rest of Latin America
- 8.7.7.1. Rest of Latin America: Micro Turbine Market, by Application, 2020-2034 (USD Million)
- 8.7.7.2. Rest of Latin America: Micro Turbine Market, by Power Rating, 2020-2034 (USD Million)
- 8.7.7.3. Rest of Latin America: Micro Turbine Market, by End User, 2020-2034 (USD Million)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. 247Solar
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Ansaldo Energia
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Aurelia
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Bladon Jets
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Bowman
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Brayton Energy
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Capstone Green Energy
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Eneftech Innovation
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. FlexEnergy
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. ICRTec
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Toyota Turbine and Systems
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Turbo Tech
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development