市場調查報告書
商品編碼
1491782
全球水輪機市場 2024-2031Global Hydro Turbine Market 2024-2031 |
預計在預測期內(2024-2031年)水輪機市場將以 5.1%的年複合成長率成長。水輪機是水力發電廠中使用的設備,可將流動的水的能量傳輸到旋轉軸以產生電力。這些渦輪機隨著水被引進其葉片而旋轉。這些渦輪機在水力發電(利用水發電的過程)領域非常重要。
市場動態
Global Hydro Turbine Market Size, Share & Trends Analysis Report By Technology (Reaction and Impulse), and by Capacity (Small (Less than 10MW), Medium (10MW - 100MW) and Large (Greater than 100MW)) Forecast Period (2024-2031)
Hydro turbine market is anticipated to grow at a considerable CAGR of 5.1% during the forecast period (2024-2031). Hydro turbines are devices used in hydroelectric generation plants that transfer the energy from moving water to a rotating shaft to generate electricity. These turbines rotate or spin as a response to water being introduced to their blades. These turbines are essential in the area of hydropower - the process of generating power from water.
Market Dynamics
Growing Investment in Developed and Developing Nations
The majority of currently under-construction hydroelectric projects are in Asia-Pacific, with some instances including Wudong-de Hydropower Station (10.2GW), Seli (400MW), Miyar (120MW), and Baihetan Hydropower Project (16GW). China produced around 4-5 times more hydropower than the US in 2020. Additionally, the expansion of investment opportunities in brand-new hydropower projects supports the market expansion in Asia-Pacific. As a result, the market growth is positively impacted by the industry participants' increased interest and substantial investments in medium and large hydropower projects.
Initiatives and Subsidies from the Government
Several government initiatives are anticipated to open up profitable opportunities for industry participants. For instance, the Energy Policy Act of 2005's Section 242 authorized financial incentives to support the creation of hydroelectricity in 2014. According to this statute, participants in the industry can expect maximum payments of $750,000 annually and up to 1.8 cents per kilowatt hour (kWh) of energy produced. Additionally, under the renewable electricity production tax credit program, industry participants are eligible to collect tax credits worth up to 1.1 cents per kWh. This is expected to motivate more consumers to invest actively in the hydraulic turbine mark and accelerate the market's expansion.
Market Segmentation
Impulse is Projected to Emerge as the Largest Segment
Based on the technology, the global hydro turbine market is sub-segmented into reaction and impulse. Among these, the impulse sub-segment is expected to hold the largest share of the market. In an impulse turbine, the rotor blades are shaped like a buck and are appropriate for high water heads. The change in momentum moves the turbine blades after being struck by the water jet, and the kinetic energy from the water pressure is directed at the turbine blades. The water flow strikes the turbine blades tangentially in an impulse turbine. Pelton wheel, cross-flow turbine, and other popular impulse turbine designs are only a few. Due to increased demand from chemical and pharmaceutical companies, small and medium-sized hydropower plants, and other industries, the impulse turbine segment is anticipated to dominate during the forecast period.
Medium 10MW-100MW) Sub-segment to Hold a Considerable Market Share
The 10 MW and above rating is utilized for power production and heavy industrial uses, such as the chemical and pharmaceutical sectors. Additionally, this works well for providing energy in large and medium-sized urban regions. Such massive hydropower projects typically use hydroelectric dams. However, such projects also make use of run-of-the-river and pumped-storage technology. The industrial and commercial end-user market expansion is anticipated to be driven by increased demand for sustainable energy solutions. The demand for hydraulic turbines is expected to increase significantly over the forecast period as governments worldwide turn to renewable energy sources.
The global hydro turbine market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Asia-Pacific Holds Major Market Share
Among all the regions, Asia-Pacific holds a significant share of the global market. China was the fastest-growing country concerning the installed capacity of hydropower in 2018, adding 8.54GW. Over 90.0% of the added capacity in Asia-Pacific came from China, including 1.5 GW from pumped storage, which increased China's total installed capacity to 352 GW. This, in turn, is expected to create ample opportunities for the hydroturbine market. In May 2018, the Government of India initiated the 1000 MW Pakal Dul hydroelectric project and the 330 MW Krishnaganga hydroelectric project in Jammu and Kashmir's Kishtwar district. Moreover, countries such as Japan, Vietnam, and South Korea have been investing in the hydropower sector, promulgating the hydroturbine market. The hydropower industry, being the biggest end-user of hydro turbines, has witnessed significant growth in recent years in Asia-Pacific.
The major companies serving the global hydroturbine market include Andritz AG, General Electric Co., Litostroj Power Group, and Siemens AG, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. In September 2022, Contract was awarded to ANDRITZ for providing technical services and electro-mechanical equipment for Vietnam's Ialy hydropower plant extension project. An order for the complete electro-mechanical equipment and technical assistance for the Ialy hydropower plant extension project in the Vietnamese provinces of Gia Lai and Kon Tum was given to the international technology company ANDRITZ by Vietnam Electricity (EVN), an influential economic group in the country's energy sector. The Ialy hydropower plant's total installed capacity will rise to 1,080 MW after the installation, increasing by more than 30%. In 2025, the project is anticipated to be finished.