Micro Turbine Market: Global Industry Size, Share, Outlook, Growth and Forecast to 2022 - Brisk Insights

According to a recently published report, the Global Micro Turbine Market is expected to grow at $309.4 million till 2022 with the CAGR of 12.1% during 2016-2022. The segmentation of global micro turbine market is based on end users, power rating, application and regional outlook. The report on global micro turbine market forecast 2016-2022 (end users, power rating, application and regional outlook) provides detailed overview and predictive analysis of the market.

Detailed study on this Report: http://www.briskinsights.com/report/micro-turbine-market

Rising energy demand is the key factor driving the global micro turbine market. The demand for energy has been increasing day by day and it’s expected to grow further in near future. Globally nuclear power plant generates around 11% of global electricity. Around 20% of world population is without access to electricity. Rising population is major consumer which requires energy source. Micro turbine is the source of energy that delivers green power as it basically works on waste fuels. Micro turbine is compact in size that diminishes the space problem. Decommissioning of nuclear plants in developed regions mainly in Europe is anticipated to drive the global market demand in near future. Apart from that, R&D initiatives towards enhancing the efficiency of micro turbine is expected to provide necessary boost to its demand. The demand for combined cooling & heating power and combined heating & power generation technologies are expected to increase significantly due to rising concerns for depleting natural resources such as coal and oil and global warming. The rising tariff rate of electricity and increasing energy deficit is also forecasted to boost the demand for eco-friendly technologies including micro turbine technology. The adoption of micro turbine technology is further supported by continuing technological developments to enhance the performance characteristics of the technology with grid integrated micro...