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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.
Key Factors Impacting Market Growth:
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:
By Capacity:
By Application:
By Region:
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