Hydraulic Turbines Market Forecasts to 2028 – Global Analysis By Product (Impulse Hydraulic Turbine, Reaction Hydraulic Turbine), Head Type (Low, High), Application (Residential Rooftop, Oil and Gas, Mining) and By Geography
According to Stratistics MRC, the Global Hydraulic Turbines Market is accounted for $2.23 billion in 2020 and is expected to reach $3.69 billion by 2028 growing at a CAGR of 6.5% during the forecast period. Rapid exhausting conventional sources of energy and growth in prominence of various technologies such as run-of-river, low head turbines, and small hydro plants are driving the market growth. However, an environmental concern in the hydropower sector is hampering the growth of the market.
The hydraulic turbine is a mover that uses the energy of flowing water to convert it into mechanical energy that is used in the form of rotation of the runner as water is used as the fluid medium. Hydro Turbines are used in hydroelectric plants for electricity generation by using the energy of moving water for rotating a shaft.
Based on the product, the impulse hydraulic turbine segment is going to have lucrative growth during the forecast period due to the rise in demand in small and medium-sized hydropower plants, and chemical and pharmaceutical industries. In addition, the efficiency of energy conversion from kinetic to mechanical energy is higher in the case of impulse turbines. By geography, North America is going to have high growth during the forecast period owing to governmental incentives for the hydro turbine technology in order to reduce pollution, advanced technology, and increasing focus on renewable energy.
Some of the key players profiled in the Hydraulic Turbines Market include General Electric, Canyon Industries, Waterwheel Factory, Siemens, Norcan Hydraulic Turbine, Kirloskar Brothers, Gilbert Gilkes and Gordon, Cornell Pump, Nautilus, andritz and WWS-Wasserkraft.
Estimated Market Size in 2020:
USD 2.23 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 3.69 billion
Tables, Graphs& Figures
Product, Installation Site, Power Generation Capacity, Head Type, Type, Application and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Impulse Hydraulic Turbine
• Reaction Hydraulic Turbine
Installation Sites Covered:
• Pico Hydro Plants
• Mini Hydro Plants
• Micro Hydro Plants
• Large Hydro Plants
Power Generation Capacities Covered:
• Power More Than 10000 kW
• Power Less than 1000 kW
• Power Between 1000-10000 kW
Head Types Covered:
• Water Turbines
• Vapor Turbines
• Steam Turbines
• Gas Turbines
• Residential Rooftop
• Power Storage and Generation
• Oil and Gas
• Industrial Purpose
• Commercial Generation
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Hydraulic Turbines Market is majorly driven by growth in prominence of various technologies such as run-of-river, low head turbines, and small hydro plants, rapid exhausting conventional sources of energy and rapidly increasing industrialization in emerging economies.
The impulse hydraulic turbine segment is growing at a highest CAGR owing to higher efficiency of energy conversion from kinetic to mechanical energy in the case of impulse turbines and rising demand in small and medium-sized hydropower plants, and chemical and pharmaceutical industries.
North America dominated with a significant market share as government is offering subsidies on water turbines in order to reduce pollution, advanced technology, and increasing focus on renewable energy.
Asia Pacific market is growing at a highest CAGR owing to the rise in concern from governments across emerging nations, such as China, India, and South Korea, regarding zero emission norms, rapid industrialization and infrastructure development.
Key players in Hydraulic Turbines Market include General Electric, Canyon Industries, Waterwheel Factory, Siemens, Norcan Hydraulic Turbine, Kirloskar Brothers, Gilbert Gilkes and Gordon, Cornell Pump, Nautilus, andritz and WWS-Wasserkraft.
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