Hydraulic turbines are machines used to convert the energy of flowing or falling water into mechanical energy, which can then be used to generate electricity or perform other mechanical tasks. They are commonly used in hydroelectric power plants, where the force of moving water is harnessed to produce electricity. The need for renewable energy sources is anticipated to significantly grow, propelling the growth of the hydraulic turbine market. Governments all around the world are encouraging sustainable energy sources since they, unlike traditional power sources, can cut carbon emissions. The popularity of new technologies including run-of-river, low-head turbines, and small hydro plants is also anticipated to increase market demand. Also, among the key drivers of market expansion is the replacement of old coal and fossil fuel power facilities with renewable power plants.
Moreover, the rising investment in hydro projects is anticipated to create a lucrative demand for the market during the forecast period. In March 2023, SSE, a British power company, will spend USD 122 million on a Scottish pumped hydro project that might increase the nation's capacity for energy storage. When power is required, pumped hydro plants generate it by pushing water uphill to a higher reservoir and then releasing it to allow it to flow through turbines as it descends. Additionally, cohesive government initiatives and subsidies are anticipated to create lucrative opportunities for the market during forecast period. However, the high initial installation cost and location constraints stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Hydraulic Turbines Market study include: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the cohesive government initiative for hydro turbine technology and growing demand for renewable and sustainable energy sources in the region. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as governments in rising nations, like China, India, and South Korea, becoming more concerned about zero emission standards. Furthermore, China's position as the world's top producer of hydropower is anticipated to support market expansion in the Asia-Pacific region.
Major market players included in this report are:
- General Electric
- Siemens AG
- Andritz AG
- Canyon Industries Inc.
- Voith GmbH & Co KGaA
- Gilbert Gilkes & Gordon Ltd
- KIRLOSKAR BROTHERS LTD
- Norcan Hydraulic Turbine Inc.
- Litostroj Power Group
- Urban Green Energy
Recent Developments in the Market:
- Oct. 2021, Siemens Energy and Voith Hydro, a German technology company of the Voith Group with a focus on hydropower, formed a joint venture. According to estimates, this will allow Siemens Energy to concentrate mostly on moving and storing energy, decarbonizing business operations, and producing electricity with minimal or no CO2 emissions.
Global Hydraulic Turbines Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Product Type, Rating, End-User, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
By Rating:
- Small (Less than 1MW)
- Medium (1MW to 10MW)
- Large (10MW and above)
By End-User:
- Industrial
- Commercial
- Residential
By Region:
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Hydraulic Turbines Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Hydraulic Turbines Market, by Product Type, 2020-2030 (USD Billion)
- 1.2.3. Hydraulic Turbines Market, by Rating, 2020-2030 (USD Billion)
- 1.2.4. Hydraulic Turbines Market, by End-User, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Hydraulic Turbines Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Hydraulic Turbines Market Dynamics
- 3.1. Hydraulic Turbines Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increase in demand for renewable and sustainable energy sources
- 3.1.1.2. Replacement of fossil fuel power plants
- 3.1.2. Market Challenges
- 3.1.2.1. High initial installation cost
- 3.1.3. Market Opportunities
- 3.1.3.1. Cohesive government initiatives and subsidies
Chapter 4. Global Hydraulic Turbines Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Hydraulic Turbines Market, by Product Type
- 5.1. Market Snapshot
- 5.2. Global Hydraulic Turbines Market by Product Type, Performance - Potential Analysis
- 5.3. Global Hydraulic Turbines Market Estimates & Forecasts by Product Type 2020-2030 (USD Billion)
- 5.4. Hydraulic Turbines Market, Sub Segment Analysis
- 5.4.1. Reaction
- 5.4.2. Impulse
Chapter 6. Global Hydraulic Turbines Market, by Rating
- 6.1. Market Snapshot
- 6.2. Global Hydraulic Turbines Market by Rating, Performance - Potential Analysis
- 6.3. Global Hydraulic Turbines Market Estimates & Forecasts by Rating 2020-2030 (USD Billion)
- 6.4. Hydraulic Turbines Market, Sub Segment Analysis
- 6.4.1. Small (Less than 1MW)
- 6.4.2. Medium (1MW to 10MW)
- 6.4.3. Large (10MW and above)
Chapter 7. Global Hydraulic Turbines Market, by End-User
- 7.1. Market Snapshot
- 7.2. Global Hydraulic Turbines Market by End-User, Performance - Potential Analysis
- 7.3. Global Hydraulic Turbines Market Estimates & Forecasts by End-User 2020-2030 (USD Billion)
- 7.4. Hydraulic Turbines Market, Sub Segment Analysis
- 7.4.1. Industrial
- 7.4.2. Commercial
- 7.4.3. Residential
Chapter 8. Global Hydraulic Turbines Market, Regional Analysis
- 8.1. Top Leading Countries
- 8.2. Top Emerging Countries
- 8.3. Hydraulic Turbines Market, Regional Market Snapshot
- 8.4. North America Hydraulic Turbines Market
- 8.4.1. U.S. Hydraulic Turbines Market
- 8.4.1.1. Product Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2. Rating breakdown estimates & forecasts, 2020-2030
- 8.4.1.3. End-User breakdown estimates & forecasts, 2020-2030
- 8.4.2. Canada Hydraulic Turbines Market
- 8.5. Europe Hydraulic Turbines Market Snapshot
- 8.5.1. U.K. Hydraulic Turbines Market
- 8.5.2. Germany Hydraulic Turbines Market
- 8.5.3. France Hydraulic Turbines Market
- 8.5.4. Spain Hydraulic Turbines Market
- 8.5.5. Italy Hydraulic Turbines Market
- 8.5.6. Rest of Europe Hydraulic Turbines Market
- 8.6. Asia-Pacific Hydraulic Turbines Market Snapshot
- 8.6.1. China Hydraulic Turbines Market
- 8.6.2. India Hydraulic Turbines Market
- 8.6.3. Japan Hydraulic Turbines Market
- 8.6.4. Australia Hydraulic Turbines Market
- 8.6.5. South Korea Hydraulic Turbines Market
- 8.6.6. Rest of Asia Pacific Hydraulic Turbines Market
- 8.7. Latin America Hydraulic Turbines Market Snapshot
- 8.7.1. Brazil Hydraulic Turbines Market
- 8.7.2. Mexico Hydraulic Turbines Market
- 8.8. Middle East & Africa Hydraulic Turbines Market
- 8.8.1. Saudi Arabia Hydraulic Turbines Market
- 8.8.2. South Africa Hydraulic Turbines Market
- 8.8.3. Rest of Middle East & Africa Hydraulic Turbines Market
Chapter 9. Competitive Intelligence
- 9.1. Key Company SWOT Analysis
- 9.1.1. Company 1
- 9.1.2. Company 2
- 9.1.3. Company 3
- 9.2. Top Market Strategies
- 9.3. Company Profiles
- 9.3.1. General Electric
- 9.3.1.1. Key Information
- 9.3.1.2. Overview
- 9.3.1.3. Financial (Subject to Data Availability)
- 9.3.1.4. Product Summary
- 9.3.1.5. Recent Developments
- 9.3.2. Siemens AG
- 9.3.3. Andritz AG
- 9.3.4. Canyon Industries Inc.
- 9.3.5. Voith GmbH & Co KGaA
- 9.3.6. Gilbert Gilkes & Gordon Ltd
- 9.3.7. KIRLOSKAR BROTHERS LTD
- 9.3.8. Norcan Hydraulic Turbine Inc.
- 9.3.9. Litostroj Power Group
- 9.3.10. Urban Green Energy
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption