Product Code: A147742
The global hydropower turbines market was valued at $3.2 billion in 2023 and is projected to reach $5.2 billion by 2033, growing at a CAGR of 4.9% from 2024 to 2033.
Introduction
A hydropower turbine is a mechanical device designed to convert the kinetic energy of flowing or falling water into mechanical energy, which is then used to generate electricity. In hydropower turbine market, there are two main types of hydropower turbines such as reaction turbines and impulse turbines. Reaction turbines operate under pressure and are submerged in water, while impulse turbines operate by the force of water's momentum and typically operate above the water's surface. These turbines are utilized across various applications including power generation, power storage, marine, and aeronautics. They play a crucial role in harnessing the power of water to produce renewable energy, contributing to sustainable electricity generation and reducing dependence on fossil fuels.
Market Dynamics
Government incentives and policies promoting hydroelectric power play a crucial role in driving the growth of the hydropower turbine market. These incentives often include financial subsidies, tax credits, and regulatory support aimed at encouraging investment in hydroelectric projects. By providing favorable conditions for developers and investors, governments can stimulate the expansion of hydropower generation capacity, thereby increasing the demand for hydropower turbines.
In addition, rise in investments in infrastructure for hydroelectric power generation contribute significantly to the growth of the hydropower turbine market. These investments include various aspects such as the construction of dams, reservoirs, and associated infrastructure necessary for hydropower generation. As governments and private entities allocate funds towards the development and modernization of hydroelectric facilities, there is a corresponding increase in demand for hydropower turbines to equip these projects with efficient and reliable turbine systems.
The hydropower turbine market faces significant restraint due to the limited availability of suitable sites for new hydroelectric installations. This challenge arises from various factors, including geographic constraints such as terrain and water availability, which determine the feasibility of hydropower projects. In addition, environmental concerns surrounding potential hydroelectric sites, coupled with competition for resources and regulatory complexities, further restrict the availability of suitable locations. These factors collectively hinder the expansion of the hydropower turbine market by prolonging project timelines, increasing costs, and discouraging investment in new hydroelectric installations. As a result, addressing the issue of site availability is crucial for unlocking the full potential of hydroelectric power generation and fostering market growth.
The integration of energy storage solutions with hydroelectric facilities offers a significant opportunity for the hydropower turbine market. This integration allows for the storage of excess energy generated during low-demand or high-production periods, balancing the grid and ensuring a reliable energy supply. This enhances the value proposition of hydropower turbine systems by increasing flexibility and reliability. By incorporating energy storage solutions such as pumped-storage hydroelectricity or battery systems, hydropower facilities can optimize operations and provide a more stable power supply to the grid. In addition, energy storage integration enhances the economic viability of hydropower projects by allowing operators to capture more value from their generation capacity. Furthermore, it contributes to the overall sustainability of the energy system by enabling better utilization of renewable energy resources and reducing the need for fossil fuel backup generation.
Segments Overview
The hydropower turbine market is segmented into type, application, and region. On the basis of type, the market is bifurcated into reaction turbines and impulse turbines. On the basis of application, the market is segmented into power generation, power storage, marine, and aeronautics. Region-wise, the hydropower turbine market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Hydropower Outlook and Forecasts for Various Countries
China continues to lead in hydropower capacity additions, with a significant portion of global growth attributed to its projects. However, due to diminishing suitable sites and environmental constraints, capacity upgrades are expected to slow down in the coming years. Nevertheless, hydropower remains a crucial part of China's renewable energy plans, and efforts are being made to optimize existing infrastructure and explore new opportunities for sustainable hydropower development.
India is actively developing several large hydropower projects, with significant capacity expected to come online in the near future. Hydropower plays a pivotal role in India's commitment to reaching 500 GW of non-fossil electricity capacity by 2030. Despite challenges such as environmental concerns and regulatory hurdles, India's hydropower sector is expected for growth and is likely to contribute substantially to the country's clean energy transition.
Europe has made notable progress in advancing hydropower, particularly in the deployment of pumped storage capacity. Countries such as Switzerland and Portugal are investing in projects aimed at facilitating the integration of solar PV and wind power into the grid. Despite facing challenges such as environmental regulations and site availability, Europe is actively exploring opportunities to maximize the potential of hydropower as a flexible and reliable energy source.
In the U.S., recent legislative measures, such as the Inflation Reduction Act, have increased support for hydropower technologies through tax credits. This signifies a commitment to promoting the growth of hydropower capacity and enhancing its contribution to the clean energy transition. While challenges such as droughts and regulatory complexities persist, the U.S. remains focused on leveraging hydropower's potential to ensure energy security and reduce carbon emissions.
Competitive Analysis
The major players operating in the hydropower turbine market include Siemens AG, General Electric CO., ANDRITZ AG, Cornell Pump CO., Gilbert Gikes & Gordon Ltd., Toshiba Energy, Harbin Electric Machinery, WWS Wasserkraft GmbH, Canyon Industries Inc., and Kirloskar Brothers Ltd.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hydropower turbines market analysis from 2023 to 2033 to identify the prevailing hydropower turbines market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hydropower turbines market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hydropower turbines market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
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Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Capital Investment breakdown
- End user preferences and pain points
- Investment Opportunities
- Product Life Cycles
- Upcoming/New Entrant by Regions
- Technology Trend Analysis
- Consumer Preference and Product Specifications
- Market share analysis of players by products/segments
- New Product Development/ Product Matrix of Key Players
- Regulatory Guidelines
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Historic market data
- Import Export Analysis/Data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- Market share analysis of players at global/region/country level
- SWOT Analysis
- Volume Market Size and Forecast
Key Market Segments
By Type
- Reaction Turbine
- Impulse Turbine
By Application
- Power Generation
- Power Storage
- Marine
- Aeronautics
- Others
By Region
- North America
- Europe
- Germany
- UK
- Spain
- Italy
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players:
- Siemens AG
- General Electric
- Andritz AG
- Cornell Pump Co.
- Gilbert Gikes & Gordon Ltd.
- Toshiba Corporation
- Harbin Electric Machinery
- WWS Wasserkraft GmbH
- Canyon Industries Inc.
- Kirloskar Brothers Limited.
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
- 3.5. Value Chain Analysis
- 3.6. Key Regulation Analysis
- 3.7. Hydropower Market Overview
- 3.8. Hydropower- Ongoing and Upcoming Projects
- 3.9. Renewable Energy Market Overview
CHAPTER 4: HYDROPOWER TURBINES MARKET, BY TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Reaction Turbine
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Impulse Turbine
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
CHAPTER 5: HYDROPOWER TURBINES MARKET, BY APPLICATION
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Power Generation
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Power Storage
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Marine
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
- 5.5. Aeronautics
- 5.5.1. Key market trends, growth factors and opportunities
- 5.5.2. Market size and forecast, by region
- 5.5.3. Market share analysis by country
- 5.6. Others
- 5.6.1. Key market trends, growth factors and opportunities
- 5.6.2. Market size and forecast, by region
- 5.6.3. Market share analysis by country
CHAPTER 6: HYDROPOWER TURBINES MARKET, BY REGION
- 6.1. Overview
- 6.1.1. Market size and forecast By Region
- 6.2. North America
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by Type
- 6.2.3. Market size and forecast, by Application
- 6.2.4. Market size and forecast, by country
- 6.2.4.1. U.S.
- 6.2.4.1.1. Market size and forecast, by Type
- 6.2.4.1.2. Market size and forecast, by Application
- 6.2.4.2. Canada
- 6.2.4.2.1. Market size and forecast, by Type
- 6.2.4.2.2. Market size and forecast, by Application
- 6.2.4.3. Mexico
- 6.2.4.3.1. Market size and forecast, by Type
- 6.2.4.3.2. Market size and forecast, by Application
- 6.3. Europe
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by Type
- 6.3.3. Market size and forecast, by Application
- 6.3.4. Market size and forecast, by country
- 6.3.4.1. Germany
- 6.3.4.1.1. Market size and forecast, by Type
- 6.3.4.1.2. Market size and forecast, by Application
- 6.3.4.2. UK
- 6.3.4.2.1. Market size and forecast, by Type
- 6.3.4.2.2. Market size and forecast, by Application
- 6.3.4.3. Spain
- 6.3.4.3.1. Market size and forecast, by Type
- 6.3.4.3.2. Market size and forecast, by Application
- 6.3.4.4. Italy
- 6.3.4.4.1. Market size and forecast, by Type
- 6.3.4.4.2. Market size and forecast, by Application
- 6.3.4.5. France
- 6.3.4.5.1. Market size and forecast, by Type
- 6.3.4.5.2. Market size and forecast, by Application
- 6.3.4.6. Rest of Europe
- 6.3.4.6.1. Market size and forecast, by Type
- 6.3.4.6.2. Market size and forecast, by Application
- 6.4. Asia-Pacific
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by Type
- 6.4.3. Market size and forecast, by Application
- 6.4.4. Market size and forecast, by country
- 6.4.4.1. China
- 6.4.4.1.1. Market size and forecast, by Type
- 6.4.4.1.2. Market size and forecast, by Application
- 6.4.4.2. Japan
- 6.4.4.2.1. Market size and forecast, by Type
- 6.4.4.2.2. Market size and forecast, by Application
- 6.4.4.3. India
- 6.4.4.3.1. Market size and forecast, by Type
- 6.4.4.3.2. Market size and forecast, by Application
- 6.4.4.4. South Korea
- 6.4.4.4.1. Market size and forecast, by Type
- 6.4.4.4.2. Market size and forecast, by Application
- 6.4.4.5. Australia
- 6.4.4.5.1. Market size and forecast, by Type
- 6.4.4.5.2. Market size and forecast, by Application
- 6.4.4.6. Rest of Asia-Pacific
- 6.4.4.6.1. Market size and forecast, by Type
- 6.4.4.6.2. Market size and forecast, by Application
- 6.5. LAMEA
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by Type
- 6.5.3. Market size and forecast, by Application
- 6.5.4. Market size and forecast, by country
- 6.5.4.1. Brazil
- 6.5.4.1.1. Market size and forecast, by Type
- 6.5.4.1.2. Market size and forecast, by Application
- 6.5.4.2. Saudi Arabia
- 6.5.4.2.1. Market size and forecast, by Type
- 6.5.4.2.2. Market size and forecast, by Application
- 6.5.4.3. South Africa
- 6.5.4.3.1. Market size and forecast, by Type
- 6.5.4.3.2. Market size and forecast, by Application
- 6.5.4.4. Rest of LAMEA
- 6.5.4.4.1. Market size and forecast, by Type
- 6.5.4.4.2. Market size and forecast, by Application
CHAPTER 7: COMPETITIVE LANDSCAPE
- 7.1. Introduction
- 7.2. Top winning strategies
- 7.3. Product mapping of top 10 player
- 7.4. Competitive dashboard
- 7.5. Competitive heatmap
- 7.6. Top player positioning, 2023
CHAPTER 8: COMPANY PROFILES
- 8.1. Siemens AG
- 8.1.1. Company overview
- 8.1.2. Key executives
- 8.1.3. Company snapshot
- 8.1.4. Operating business segments
- 8.1.5. Product portfolio
- 8.1.6. Business performance
- 8.1.7. Key strategic moves and developments
- 8.2. General Electric
- 8.2.1. Company overview
- 8.2.2. Key executives
- 8.2.3. Company snapshot
- 8.2.4. Operating business segments
- 8.2.5. Product portfolio
- 8.2.6. Business performance
- 8.2.7. Key strategic moves and developments
- 8.3. Andritz AG
- 8.3.1. Company overview
- 8.3.2. Key executives
- 8.3.3. Company snapshot
- 8.3.4. Operating business segments
- 8.3.5. Product portfolio
- 8.3.6. Business performance
- 8.3.7. Key strategic moves and developments
- 8.4. Cornell Pump Co.
- 8.4.1. Company overview
- 8.4.2. Key executives
- 8.4.3. Company snapshot
- 8.4.4. Operating business segments
- 8.4.5. Product portfolio
- 8.4.6. Business performance
- 8.4.7. Key strategic moves and developments
- 8.5. Gilbert Gikes & Gordon Ltd.
- 8.5.1. Company overview
- 8.5.2. Key executives
- 8.5.3. Company snapshot
- 8.5.4. Operating business segments
- 8.5.5. Product portfolio
- 8.5.6. Business performance
- 8.5.7. Key strategic moves and developments
- 8.6. Toshiba Corporation
- 8.6.1. Company overview
- 8.6.2. Key executives
- 8.6.3. Company snapshot
- 8.6.4. Operating business segments
- 8.6.5. Product portfolio
- 8.6.6. Business performance
- 8.6.7. Key strategic moves and developments
- 8.7. Harbin Electric Machinery
- 8.7.1. Company overview
- 8.7.2. Key executives
- 8.7.3. Company snapshot
- 8.7.4. Operating business segments
- 8.7.5. Product portfolio
- 8.7.6. Business performance
- 8.7.7. Key strategic moves and developments
- 8.8. WWS Wasserkraft GmbH
- 8.8.1. Company overview
- 8.8.2. Key executives
- 8.8.3. Company snapshot
- 8.8.4. Operating business segments
- 8.8.5. Product portfolio
- 8.8.6. Business performance
- 8.8.7. Key strategic moves and developments
- 8.9. Canyon Industries Inc.
- 8.9.1. Company overview
- 8.9.2. Key executives
- 8.9.3. Company snapshot
- 8.9.4. Operating business segments
- 8.9.5. Product portfolio
- 8.9.6. Business performance
- 8.9.7. Key strategic moves and developments
- 8.10. Kirloskar Brothers Limited.
- 8.10.1. Company overview
- 8.10.2. Key executives
- 8.10.3. Company snapshot
- 8.10.4. Operating business segments
- 8.10.5. Product portfolio
- 8.10.6. Business performance
- 8.10.7. Key strategic moves and developments