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Showing posts with the label Micro Turbine Market

Micro Turbine Market: Trends, Insights, and Forecast 2024 - 2030

  The global   micro turbine market   size was valued at USD 219.1 in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2030. Micro turbines are extensively used in Combined Heat and Power (CHP) systems due to their high efficiency in converting fuel into both electricity and heat. This dual functionality makes them an ideal choice for various industrial applications, where energy efficiency and cost savings are critical. The rising adoption of CHP systems in industries is primarily driven by the need to optimize energy usage and reduce operational costs. As industries seek more sustainable and economical energy solutions, the market for micro turbines in CHP applications continues to expand, driving the growth of micro turbines. Governments worldwide are implementing stringent emission standards and carbon reduction targets to combat climate change and reduce air pollution. These regulations are pushing industries to seek cleaner ...