The Global Hydraulic Turbine Market report includes a global opportunity analysis and industry forecasts for the period 2023–2032. The global market is estimated at USD 2.95 billion in 2022, registering at a promising CAGR of 3.65% from 2023 to 2032. The historic year is considered as 2020 and base year considered for the study is 2021, the estimated year is 2022 and the forecast has been provided for the period 2023 to 2032.
Hydropower is a popular energy alternative due to fluctuations in rates of other non-renewable energies is expected to drive the growth of hydraulic turbine market during the forecast period. This has resulted some of the key developments by companies operating in the market to consolidate their market positions and look for further niche opportunities . A hydraulic turbine is a rotary engine that generates electricity from kinetic water. The rising demand for electricity has also positively impacted the market.
Segment Analysis
The global hydraulic turbine market has been segmented on the basis of design, capacity, and application.
On the basis of design, the market has been classified into impulse and reaction. Impulse turbines are majorly used in large underwater surfaces, as they requires high flow of water. Reaction turbines are preferred on low lands where the flow of water is not fast.
Based on capacity, the market has been segmented into less than 1,000 kW, between 1000 kW -10,000 kW, and more than 10,000 kW. There has been a rise in the use of more than 1000kW of turbine in industries, as they generate more electricity than others.
Based on application, the market has been segmented into marine, oil & gas, power storage & generation, and others. Due to the increase in the exploration activities, there has been a rise in demand for hydraulic turbines.
Figure 1: Hydraulic Turbine Market
Key Factors Impacting Market Growth:
- Hydropower is a popular energy alternative due to fluctuations in rates of other non-renewable energies
- The rise in measures of pollution control
- Increase in the number of industries and lighting up homes
Regional Outlook:
The regional outlook for hydraulic turbine market provides detailed information for markets including North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America and Western Europe are estimated to be key regions for hydraulic turbine market during the forecast period. Being one of the industrialized regions, the energy & power sector is key to the operations of various industries in this region. This is one of the important factors governing the growth of hydraulic turbine market in these regions. Some of the major countries covered in this region include US, Germany, UK, France, Italy, Canada, and so on.
Asia Pacific is estimated one of the fastest growing regions for hydraulic turbine market during the forecast period. Some of the fastest growing economies and increasing demand for energy & power to cater high population & industries is expected to drive the demand in this region. China and India are projected to register major demand during the forecast period. Middle East that includes UAE, Saudi Arabia, Iran, Qatar, and others promises high market potential during the forecast period. Rest of the World including South America and Africa are emerging regions in terms of market demand during the forecast period.
Companies Covered: GeneralElectric, Siemens, Andritz, CanyonIndustries, CornellPump, GilbertGilkes&Gordon, KirloskarBrothers, Nautilus, NorcanHydraulicTurbine, WaterwheelFactory, and WWS-Wasserkraft
Market Segmentation:
By Design:
- Impulse
- Reaction
By Capacity:
- Less Than 1000 kW
- Between 1000 – 10000 kW
- More Than 10000 kW
By Application:
- Marine
- Oil and Gas
- Power Storage and Generation
- Others
By Region:
- North America
- By Country (US, Canada, Mexico)
- By Design
- By Capacity
- By Application
- Western Europe
- By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
- By Design
- By Capacity
- By Application
- Eastern Europe
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Design
- By Capacity
- By Application
- Asia Pacific
- By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
- By Design
- By Capacity
- By Application
- Middle East
- By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
- By Design
- By Capacity
- By Application
- Rest of the World
- By Region (South America, Africa)
- By Design
- By Capacity
- By Application
Reasons to Buy This Report:
- Market size estimation of the global hydraulic turbine market on a regional and global basis
- The unique research design for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
Customization:
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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