Micro turbines are small combustion turbines that provide power output in the range of 12–500 kW. They are a subcategory of gas turbines and are one of the sources of distributed power generation. They are capable of functioning as backup power sources and can also be used for CHP generation purposes. Micro turbines are broadly divided into 2 types. Unrecuperated (Simple Cycle) Micro Turbine: This type of micro turbine features the direct mixing of the incoming compressed air with the fuel, which is combusted at constant pressure. The hot gases produced expand through the turbine resulting in the generation of mechanical power, which is later converted into electrical power. These turbines are highly reliable, involve low capital costs, and provide more heat for cogeneration. However, the overall efficiency of these micro turbines is approximately 15% as compared to recuperated micro turbines. Recuperated (Combined Cycle) Micro Turbine: This type of micro turbine features the use of a sheet metal heat exchanger to recover heat from exhaust gases and transfer it to the incoming air. This increases the temperature of the air stream resulting in faster combustion and increased efficiency. These turbines have a higher efficiency of around 20–30% and higher fuel savings. However, there is no heat available for cogeneration with these micro turbines.

The micro turbines market was valued at USD 149.8 Million in 2016. Factors such as increasing global electricity demand and subsequent investments in power plants, economic benefits of implementing micro turbines, increasing efforts to reduce global greenhouse gas emissions, and growing adoption of CHP are driving the market of micro turbines. The market has been segmented by application, power rating, end-user, and region.

The popular growth strategies adopted globally by a few of the leading companies include contracts & agreements, new product launches, investments and expansions, mergers & acquisitions, and partnerships. These strategies show the current market and competitive scenario of the micro turbines market. In recent years, companies in the micro turbines market focused on contracts & agreements as the key strategy to increase their market shares and business presence, across the globe. Partnerships, collaborations, alliances, and joint ventures were the other strategies followed by leading industry players to achieve growth in the micro turbines market.

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.