![]() On the contrary, nonrenewable energy sources such as oil, gas, and coal-fired power plants, while contributing to the majority of power generation, have a substantial environmental impact. However, present technologies are incapable of efficiently tapping and using renewable energy sources to generate power. As a result, during the predicted period, promotes market growth. The CH commands the lion's share of the market for the installation of such turbines. investment in the combined heat and power industry is also skyrocketing. To reduce pollution, the government has also implemented severe emission standards. Several governments have begun to focus on enforcing renewable energy sources in order to kerb rising levels of air pollution. The rapid expansions of renewable energy installations around the world as people become more concerned about environmental safety. During the forecast period, these factors fuel market expansion. Furthermore, the government has imposed stringent pollution standards, forcing businesses to adopt these turbines on a massive scale. These projects are mostly putting in gas-powered turbines since they are more cost-effective and emit fewer hazardous pollutants. To fulfil energy demand, both the public and commercial sectors are growing powerhouse capabilities, either by constructing new powerhouses or increasing power plant capacity. Industrialisation is also rising in several developing nations, and various smart cities and smart building projects are being launched in several countries, which will boost energy demand. The expansion of infrastructure adds significantly to the increase in electricity demand. Power consumption is increasing internationally as the world's population expands rapidly, driving the market CAGR for micro turbines. Growing Electricity Demand to Aid Market Growth Source: Secondary Research, Primary Research, MRFR Database and Analyst Review ![]() Increased demand for alternative energy sources, as well as the decommissioning of an increasing number of coal and nuclear power stations, along with rigors environmental laws are the key market drivers enhancing the market growth. The Micro Turbine Market industry is projected to grow from USD 0.13 Billion in 2023 to USD 0.28 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.00% during the forecast period (2023 - 2032). ![]() Micro Turbine Market Size was valued at USD 0.12 Billion in 2022. Ice, Electric, Hybrid, Autonomous Vehicles.Information And Communications Technology ↠. ![]()
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