Hydro Turbine Market Growth, Size, Revenue, Trends, Demand, Challenges and Future Outlook
Hydro Turbine Market Size- By Technology, By Capacity- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Aug-2023 | Report ID: POAE2355 | Pages: 1 - 247 | Formats*: |
| Category : Power & Energy | |||
Hydro Turbine Market Introduction and Overview
According to SPER Market Research, the Global Hydro Turbine Market is estimated to reach USD 3.99 billion by 2033 with a CAGR of 5.22%.
The report includes an in-depth analysis of the Global Hydro Turbine market, including market size and trends, product mix, distribution channels, and supplier analysis. A hydro turbine is a mechanical device that converts the energy of flowing water into mechanical energy, which is ultimately converted into electrical energy. It is essential in the generation of hydroelectric power, a sustainable and renewable energy source. Water's kinetic and potential energy are captured by the turbine's blades or runners as it flows downhill or through a dam. The force of the rushing water spins the blades, sending energy to a shaft attached to a generator.
- The combined effect of pressure and moving water generates electricity in a reaction turbine. These turbines are designed to produce the most power possible from a low available water head and high velocities. Reaction turbines account for over 60% of turbines used in hydropower plants.
- In May of 2018, Bharat Heavy Electricals Limited (BHEL) was awarded a contract by SJVN Arun-3 Power Development (SAPDC) to develop the 900 MW Arun-3 hydroelectric project. Under the USD 80 million contract, BHEL is required to design, manufacture, supply, and commission four vertical 225 MW Francis turbines and generator sets.
Market Opportunities and Challenges
The hydro turbine sector offers considerable prospects as well as significant challenges. On the opportunity side, hydro turbines remain an important component of the global transition to renewable energy sources. Demand for sustainable energy alternatives such as hydroelectric power is increasing as countries attempt to lower their carbon footprint and migrate away from fossil fuels. Because water flow is driven by natural forces, hydro turbines provide a predictable and continuous energy source. Furthermore, advances in turbine design and technology have increased their efficiency, making them more appealing economically.
However, the hydro turbine market confronts a number of problems. The environmental impact of erecting dams and changing streams to accommodate turbines is a big problem. Large-scale hydroelectric projects can cause habitat damage, altered water flow patterns, and even community displacement. Finding a happy medium between energy production and environmental preservation is a difficult undertaking. Furthermore, the viability of hydroelectric projects is also dependent on geographical variables such as the availability of sufficient water sources and the related infrastructure.
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Market Competitive Landscape
The hydro turbine market's competitive environment is characterized by a mix of existing businesses and emergent entrants, driven by rising demand for renewable energy solutions. With their considerable experience and technological prowess, market leaders such as General Electric, Siemens AG, Voith Group, Andritz AG, and Toshiba Energy Systems & Solutions dominate the market.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Technology, By Capacity |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. |
| Companies Covered | Andritz AG, Canyon Industries Inc., General Electric Company, Gilbert Gilkes & Gordon Ltd, Kirloskar Brothers Ltd, Litostroj Power Group, Norcan Hydraulic Turbine Inc., Siemens AG, Voith GmbH & Co. KGaA, WWS-Wasserkraft GmbH |
COVID-19 Impact on Global Hydro Turbine Market
The global hydro turbine market, like many other businesses, was severely impacted by the COVID-19 pandemic. The initial outbreak caused manufacturing process disruptions, supply chain disruptions, and project delays as lockdowns and restrictions were enacted globally. These interruptions hampered the production and delivery of hydro turbine components, resulting in project delays and cost overruns. Furthermore, the pandemic's unpredictability made some investors to reassess their financial commitments to large-scale infrastructure projects, especially hydropower undertakings.
Key Target Audience
- Energy Companies and Utilities
- Investors and Financial Institutions
- Engineering and Construction Firms
- Research and Development Institutions
Our in-depth analysis of the Hydro Turbine Market includes the following segments:
| By Technology: |
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| By Capacity: |
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Key Topics Covered in the Report
- Global Hydro Turbine Market Size (FY’2023-FY’2033)
- Overview of Global Hydro Turbine Market
- Segmentation of Global Hydro Turbine Market By Technology (Reaction, Impulse)
- Segmentation of Global Hydro Turbine Market By Capacity (Small, Medium, Large)
- Statistical Snap of Global Hydro Turbine Market
- Expansion Analysis of Global Hydro Turbine Market
- Problems and Obstacles in Global Hydro Turbine Market
- Competitive Landscape in the Global Hydro Turbine Market
- Impact of COVID-19 and Demonetization on Global Hydro Turbine Market
- Details on Current Investment in Global Hydro Turbine Market
- Competitive Analysis of Global Hydro Turbine Market
- Prominent Players in the Global Hydro Turbine Market
- SWOT Analysis of Global Hydro Turbine Market
- Global Hydro Turbine Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Hydro Turbine Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape
5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Hydro Turbine Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Hydro Turbine Market
7. Global Hydro Turbine Market, By Technology (USD Million)
7.1. Global Hydro Turbine Market Value Share and Forecast, By Technology, 2023-20337.2. Reaction7.3. Impulse
8. Global Hydro Turbine Market, By Capacity (USD Million)
8.1. Global Hydro Turbine Market Value Share and Forecast, By Capacity, 2023-20338.2. Small (Less than 10MV)8.3. Medium (10MW-100MW)8.4. Large (Greater than 100MW)
9. Global Hydro Turbine Market Forecast, 2019-2033 (USD Million)
9.1. Global Hydro Turbine Market Size and Market Share
10. Global Hydro Turbine Market, By Technology, 2019-2033 (USD Million)
10.1. Global Hydro Turbine Market Size and Market Share By Technology (2019-2026)10.2. Global Hydro Turbine Market Size and Market Share By Technology (2027-2033)
11. Global Hydro Turbine Market, By Capacity, 2019-2033 (USD Million)
11.1. Global Hydro Turbine Market Size and Market Share By Capacity (2019-2026)11.2. Global Hydro Turbine Market Size and Market Share By Capacity (2027-2033)
12. Global Hydro Turbine Market, By Region, 2019-2033 (USD Million)
12.1. Global Hydro Turbine Market Size and Market Share By Region (2019-2026)12.2. Global Hydro Turbine Market Size and Market Share By Region (2027-2033)12.3. Asia-Pacific
12.3.1. Australia
12.3.2. China12.3.3. India12.3.4. Japan12.3.5. South Korea12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France12.4.2. Germany12.4.3. Italy12.4.4. Spain12.4.5. United Kingdom
12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia12.5.2. United Arab Emirates12.5.3. Rest of Middle East & Africa
12.6. North America
12.6.1. Canada12.6.2. Mexico12.6.3. United States
12.7. Latin America
12.7.1. Argentina12.7.2. Brazil12.7.3. Rest of Latin America
13. Company Profile
13.1. Andritz AG13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments13.2. Canyon Industries Inc.13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments13.3. General Electric Company13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments13.4. Gilbert Gilkes & Gordon Ltd13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments13.5. Kirloskar Brothers Ltd13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments13.6. Litostroj Power Group13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments13.7. Norcan Hydraulic Turbine Inc.13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments13.8. Siemens AG13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments13.9. Voith GmbH & Co. KGaA13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments13.10. WWS-Wasserkraft GmbH13.10.1. Company details13.10.2. Financial outlook13.10.3. Product summary13.10.4. Recent developments13.11. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The key players in the market include Companies Covered Andritz AG, Canyon Industries Inc., General Electric Company, Gilbert Gilkes & Gordon Ltd, Kirloskar Brothers Ltd, Litostroj Power Group, Norcan Hydraulic Turbine Inc., Siemens AG, Voith GmbH & Co. KGaA, WWS-Wasserkraft GmbH.
A hydro turbine is a mechanical device that converts the energy of flowing water into mechanical energy, which is ultimately converted into electrical energy. It is essential in the generation of hydroelectric power, a sustainable and renewable energy source.
Hydro Turbine Market Market is projected to reach USD 3.99 billion by 2033, growing at a CAGR of 5.22% during the forecast period.
Hydro Turbine Market Market grew in market size from 2022. The Market is expected to reach USD 3.99 billion by 2033, at a CAGR of 5.22% during the forecast period.
Hydro Turbine Market Market CAGR of 5.22% during the forecast period.
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Hydro Turbine Market Market size is USD 3.99 billion from 2023 to 2033.
Hydro Turbine Market Market Segment is covered By Type, By Application.
The North America is anticipated to have the highest market share in the Hydro Turbine Market Market.
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