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Global Hydro Turbine Market Size, Share, Growth, Trends, Price, Forecast: By Type: Reaction Turbine, Impulse Turbine, By Capacity: Small (Less than 10MW), Medium (10–100MW), Large (Greater than 100MW); Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Hydro Turbine Market Outlook
The global hydro turbine market attained a value of nearly USD 2.33 billion in 2023. The market is projected to grow at a CAGR of 3.30% between 2024 and 2032 to reach a value of around USD 3.13 billion by 2032.
Key Trends in the Market
A hydro turbine, also known as a water turbine, refers to a device which is used to convert energy generated by moving water into mechanical energy or electricity. Runner, wicket gates, stays, stay vanes, and draft tubes, among others, are the major components of a hydro turbine.
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- Technological advancements and innovations are some of the crucial trends driving the hydro turbine market. There is an increasing integration of AI and IoT in hydro turbines to enhance their overall efficiency, prevent unplanned downtime, optimise maintenance, and maximise power output.
- Rapid expansion of energy-intensive sectors, such as construction and healthcare, especially in emerging economies, is fuelling the reliance on hydropower as an electricity source, hence driving the demand for hydro turbines. In addition, the growing demand for low-cost and reliable energy and the increasing focus to enhance electricity accessibility in rural and remote areas are likely to provide impetus to the market for hydro turbine in the coming years.
- Rapid transition from fossil fuel-based energy generation methods towards renewable electricity generation, including hydropower, owing to the increasing awareness pertaining to climate change, is further bolstering the hydro turbine market growth.
Market Analysis
Based on type, the market is segmented into reaction turbine and impulse turbine. On the basis of capacity, the market is classified into small (less than 10MW), medium (10–100MW), and large (greater than 100MW). The major regional markets for hydro turbine are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the global hydro turbine market report, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- General Electric Company
- ANDRITZ AG
- LITOSTROJ POWER d.o.o
- Voith GmbH & Co. KGaA
- Canyon Hydro
- Cornell Pump Company
- Toshiba Corporation
- Canadian Hydro Components Ltd.
- WWS Wasserkraft GmbH
- Gilbert Gilkes & Gordon Ltd
- Others
Market Share by Type
The reaction turbine segment accounts for a significant share of the hydro turbine market. Reaction turbine offers significant advantages such as high blade efficiency, availability of both kinetic and pressure energy, and low design complexity, among others. Moreover, due to the high hydraulic efficiency and compact size of reaction turbines, they are widely preferred in sites with higher flows and lower heads.
Market Share by Region
The Asia Pacific accounts for a healthy share in the hydro turbine market. The increasing investments towards developing hydro power plants across emerging economies, such as India and China, by both governments and private players are driving the market in the region.
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In addition, factors such as rapid industrialisation and urbanisation, the surging population levels, the rising focus on sustainability, and growing electricity demand are likely to boost the reliance on hydropower and bolster the demand for hydro turbines in the forecast period.
Competitive Landscape
General Electric Company is a multinational conglomerate which provides energy solutions, services, and equipment, including hydro turbines. The company is headquartered in Massachusetts, the United States, and it aims to advance a low-carbon future through its innovative technologies.
ANDRITZ AG is a technology company that offers innovative solutions aimed for the metals, hydro, marine, thermal power, automation, and pulp and paper sector, among others. It was established in 1852 and is currently headquartered in Graz, Austria.
LITOSTROJ POWER d.o.o is a leading industrial manufacturer which manufactures hydro turbines, pumps, valves and gates, and several automated products. It was founded in 1848 and is headquartered in Ljubljana, Slovenia.
Other market players include Voith GmbH & Co. KGaA, Canyon Hydro, Cornell Pump Company, Toshiba Corporation, Canadian Hydro Components Ltd., WWS Wasserkraft GmbH, and Gilbert Gilkes & Gordon Ltd, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Capacity |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Hydro Turbine Market Analysis
8.1 Key Industry Highlights
8.2 Global Hydro Turbine Historical Market (2018-2023)
8.3 Global Hydro Turbine Market Forecast (2024-2032)
8.4 Global Hydro Turbine Market by Type
8.4.1 Reaction Turbine
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Impulse Turbine
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Hydro Turbine Market by Capacity
8.5.1 Small (Less than 10MW)
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Medium (10–100MW)
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Large (Greater than 100MW)
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Hydro Turbine Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Hydro Turbine Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Hydro Turbine Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Hydro Turbine Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Hydro Turbine Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Hydro Turbine Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Trade Data Analysis (HS Code -8410)
15.1 Major Importing Countries
15.1.1 By Value
15.1.2 By Volume
15.2 Major Exporting Countries
15.2.1 By Value
15.2.2 By Volume
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 General Electric Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 ANDRITZ AG
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 LITOSTROJ POWER d.o.o
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Voith GmbH & Co. KGaA
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Canyon Hydro
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Cornell Pump Company
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Toshiba Corporation
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Canadian Hydro Components Ltd.
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 WWS Wasserkraft GmbH
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Gilbert Gilkes & Gordon Ltd
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Hydro Turbine Market: Key Industry Highlights, 2018 and 2032
2. Global Hydro Turbine Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Hydro Turbine Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Hydro Turbine Historical Market: Breakup by Capacity (USD Billion), 2018-2023
5. Global Hydro Turbine Market Forecast: Breakup by Capacity (USD Billion), 2024-2032
6. Global Hydro Turbine Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Hydro Turbine Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Hydro Turbine Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Hydro Turbine Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Hydro Turbine Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Hydro Turbine Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Hydro Turbine Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Hydro Turbine Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Hydro Turbine Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Hydro Turbine Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Hydro Turbine Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Hydro Turbine Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Major Importing Countries by Volume
19. Major Exporting Countries by Volume
20. Major Importing Countries by Value
21. Major Exporting Countries by Value
22. Global Hydro Turbine Market Structure
Key Questions Answered in the Report
The market reached a value of nearly USD 2.33 billion in 2023.
The market is estimated to grow at a CAGR of 3.30% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 3.13 billion by 2032.
The rapid expansion of electricity-intensive sectors, such as construction and healthcare, the growing demand for low-cost energy, and increasing preference for reaction turbines are the major drivers of the market.
The key trends in the market include technological advancements in turbine systems and increasing investments towards developing hydro power plants across emerging economies.
Reaction turbine and impulse turbine are the different hydro turbine types in the market.
Hydro turbines are typically made from materials that can resist water pressure, erosion, and cultivation, such as fibreglass, carbon fibre, or reinforced plastics.
General Electric Company, ANDRITZ AG, LITOSTROJ POWER d.o.o, Voith GmbH & Co. KGaA, Canyon Hydro, Cornell Pump Company, Toshiba Corporation, Canadian Hydro Components Ltd., WWS Wasserkraft GmbH, and Gilbert Gilkes & Gordon Ltd, among others, are the key hydro turbine market players, according to the report.
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