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Hydraulic Turbine Market

ID: MRFR/EnP/22150-HCR
100 Pages
Snehal Singh
October 2025

Hydraulic Turbine Market Research Report By Turbine Capacity (30 MW, 30-100 MW, >100 MW), By Turbine Type (Pelton Turbines, Francis Turbines, Kaplan Turbines, Tubular Turbines), By Power Generation (Grid-Connected, Off-Grid), By Water Source (Reservoir, River, Canal), By Application (Hydropower Plants, Tidal Energy Generation, Pumped-Storage Hydropower) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2035

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Hydraulic Turbine Market Summary

As per Market Research Future analysis, the Hydraulic Turbine Market Size was estimated at 28.58 USD Billion in 2024. The Hydraulic Turbine industry is projected to grow from 29.83 USD Billion in 2025 to 45.81 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 4.38% during the forecast period 2025 - 2035

Key Market Trends & Highlights

The Hydraulic Turbine Market is poised for growth driven by technological advancements and sustainability initiatives.

  • North America remains the largest market for hydraulic turbines, driven by robust infrastructure and energy demands.
  • Asia-Pacific is emerging as the fastest-growing region, fueled by increasing investments in renewable energy projects.
  • The >100 MW segment dominates the market, while the <30 MW segment is experiencing rapid growth due to small-scale hydro projects.
  • Key market drivers include the rising demand for renewable energy and government incentives supporting technological innovations.

Market Size & Forecast

2024 Market Size 28.58 (USD Billion)
2035 Market Size 45.81 (USD Billion)
CAGR (2025 - 2035) 4.38%

Major Players

Andritz AG (AT), General Electric (US), Voith GmbH (DE), Siemens AG (DE), Alstom SA (FR), Toshiba Corporation (JP), Mitsubishi Heavy Industries (JP), Hydro-Québec (CA), Statkraft AS (NO)

Hydraulic Turbine Market Trends

The Hydraulic Turbine Market is currently experiencing a transformative phase, driven by the increasing demand for renewable energy sources and the global shift towards sustainable practices. This market encompasses various types of turbines, including impulse and reaction turbines, which are utilized in hydroelectric power generation. As nations strive to reduce their carbon footprints, investments in hydropower infrastructure are likely to rise, fostering innovation and technological advancements in turbine design and efficiency. Furthermore, the integration of smart technologies into hydraulic systems appears to enhance operational performance, thereby attracting interest from both public and private sectors. In addition to the push for renewable energy, regulatory frameworks and government incentives are shaping the Hydraulic Turbine Market landscape. Countries are implementing policies that promote the development of hydropower projects, which may lead to increased competition among manufacturers. This competitive environment could drive down costs and improve the accessibility of hydraulic turbines for various applications. As the market evolves, stakeholders must remain vigilant to emerging trends and adapt their strategies accordingly to capitalize on the opportunities presented by this dynamic sector.

Technological Advancements

The Hydraulic Turbine Market is witnessing a surge in technological innovations aimed at enhancing turbine efficiency and performance. Developments in materials science and engineering are leading to the creation of more durable and efficient turbine components, which may result in lower operational costs and improved energy output.

Sustainability Initiatives

There is a growing emphasis on sustainability within the Hydraulic Turbine Market, as stakeholders increasingly prioritize environmentally friendly practices. This trend is likely to drive the adoption of hydropower solutions that minimize ecological impact while maximizing energy generation.

Regulatory Support

Government policies and regulations are playing a crucial role in shaping the Hydraulic Turbine Market. Supportive frameworks and incentives for renewable energy projects are encouraging investments in hydropower, which could lead to a more robust market environment.

Hydraulic Turbine Market Drivers

Rising Environmental Awareness

The growing awareness of environmental issues is a significant driver for the Hydraulic Turbine Market. As communities become more conscious of the impacts of fossil fuels on climate change, there is a collective push towards cleaner energy sources. Hydropower, facilitated by hydraulic turbines, is perceived as a sustainable alternative that minimizes ecological footprints. In 2025, public sentiment increasingly favors renewable energy projects, leading to heightened support for hydropower initiatives. This shift in consumer behavior encourages investors to prioritize hydraulic turbine projects, as they align with the values of sustainability and environmental stewardship. Thus, the Hydraulic Turbine Market is likely to thrive in an environment that prioritizes ecological considerations.

Growing Industrial Applications

The Hydraulic Turbine Market is witnessing an expansion in industrial applications, which is driving demand for hydraulic turbines. Industries such as mining, manufacturing, and agriculture are increasingly recognizing the benefits of utilizing hydropower for their energy needs. In 2025, the integration of hydraulic turbines in industrial processes is projected to enhance energy efficiency and reduce operational costs. This trend is particularly evident in regions with abundant water resources, where industries can leverage hydropower as a reliable energy source. The shift towards electrification in various sectors further amplifies the need for hydraulic turbines, as they provide a stable and sustainable energy supply. Consequently, the Hydraulic Turbine Market is expected to see robust growth as industrial applications expand.

Government Incentives and Support

The Hydraulic Turbine Market is significantly influenced by government policies and incentives aimed at promoting renewable energy. Many countries have implemented favorable regulations and financial support mechanisms to encourage investments in hydropower projects. In 2025, various nations offer tax credits, grants, and subsidies to developers, making it financially viable to invest in hydraulic turbine installations. This regulatory support fosters a conducive environment for market growth, as it reduces the financial risks associated with large-scale projects. Furthermore, governments are increasingly recognizing the importance of energy security and sustainability, which further drives the adoption of hydraulic turbines. Consequently, the Hydraulic Turbine Market is expected to expand as more projects receive governmental backing.

Increasing Demand for Renewable Energy

The Hydraulic Turbine Market is experiencing a notable surge in demand due to the global shift towards renewable energy sources. As nations strive to meet their energy needs sustainably, hydropower emerges as a viable solution. In 2025, hydropower accounts for approximately 16% of the world's electricity generation, highlighting its significance. This trend is likely to continue as governments and organizations invest in infrastructure to harness water resources effectively. The increasing focus on reducing carbon emissions further propels the adoption of hydraulic turbines, as they provide a clean and efficient means of energy production. Consequently, the Hydraulic Turbine Market is poised for growth, driven by the need for sustainable energy solutions.

Technological Innovations in Turbine Design

Technological advancements play a crucial role in shaping the Hydraulic Turbine Market. Innovations in turbine design, such as the development of more efficient blades and improved materials, enhance performance and reduce operational costs. For instance, the introduction of variable speed turbines allows for better adaptation to fluctuating water flows, optimizing energy generation. In 2025, the market witnesses a shift towards smart turbine technologies that integrate IoT and AI for real-time monitoring and predictive maintenance. These innovations not only improve efficiency but also extend the lifespan of hydraulic turbines, making them more attractive to investors. As a result, the Hydraulic Turbine Market is likely to benefit from these technological breakthroughs.

Market Segment Insights

By Turbine Capacity: >100 MW (Largest) vs. <30 MW (Fastest-Growing)

The Hydraulic Turbine Market is characterized by a diverse capacity range, with the majority of the market share concentrated in the >100 MW segment. This segment benefits from large-scale hydroelectric projects, which are increasingly being prioritized globally for their ability to generate significant renewable energy. Meanwhile, the <30 MW segment is gaining traction, driven by the rising interest in small to medium-sized projects, particularly in regions where large installations are logistically challenging. Growth trends in the hydraulic turbine segment are influenced by various factors, including governmental policies promoting renewable energy, technological advancements leading to efficiency improvements, and heightened environmental awareness resulting in increased investment in cleaner energy sources. The <30 MW segment is emerging as a front-runner due to its adaptability to local energy needs and lower initial investment requirements, making it an attractive option for many regions.

Turbine Capacity: >100 MW (Dominant) vs. <30 MW (Emerging)

The >100 MW turbine capacity segment is a dominant force in the Hydraulic Turbine Market, propelled by large hydroelectric plants that facilitate substantial energy production. This segment is generally characterized by advanced technologies and robust infrastructure that support high-capacity generation. In contrast, the <30 MW segment is emerging rapidly, appealing to developers interested in smaller-scale projects that offer flexibility and quicker deployment. These smaller turbines often cater to localized energy demands and micro-grid solutions, making them an essential component of the renewable energy landscape. As future energy policies increasingly prioritize smaller, decentralized power generation, the <30 MW segment is poised for significant growth, bolstered by innovations that enhance its reliability and efficiency.

By Turbine Type: Francis Turbines (Largest) vs. Kaplan Turbines (Fastest-Growing)

In the Hydraulic Turbine Market, the market share among different turbine types displays distinct characteristics. Francis Turbines emerge as the largest segment, capturing significant attention due to their efficiency in medium-head hydroelectric plants. Their versatile design and reliability make them a preferred choice among operators. Meanwhile, Pelton Turbines and Tubular Turbines also hold substantial shares but cater to specific applications and conditions, such as high heads and low-flow scenarios, respectively. These disparities create a diverse landscape in the market driven by varying project requirements and geographic considerations. The growth trends in the Hydraulic Turbine Market are influenced by several key factors. Kaplan Turbines are witnessing rapid growth as they adapt to low-head hydroelectric projects. Technological advancements, including improved efficiency and environmental compliance, are also enhancing their appeal. At the same time, increasing investments in renewable energy sources propel the demand for Francis Turbines, maintaining their dominant position over the forecast period. The push for sustainable energy solutions continues to drive forward the adoption of all turbine types, shaping the future of the market.

Francis Turbines (Dominant) vs. Kaplan Turbines (Emerging)

Francis Turbines are recognized for their versatility and efficiency, making them the dominant force in the Hydraulic Turbine Market. They are particularly effective in medium-head applications, offering a balance between head and flow that suits a variety of project needs. Their market position is supported by a long track record of performance and reliability in hydropower installations. Conversely, Kaplan Turbines represent an emerging solution within this segment, tailored for low-head sites. Their adjustable blades provide enhanced efficiency, making them ideal for varying flow conditions. As new hydro projects increasingly focus on sustainable energy, the adaptability of Kaplan Turbines positions them favorably for growth, driven by advancements in design and technology.

By Power Generation: Grid-Connected (Largest) vs. Off-Grid (Fastest-Growing)

In the Hydraulic Turbine Market, the power generation segment is primarily dominated by Grid-Connected applications, which play a critical role in meeting energy demands through a stable supply of renewable energy. This segment's substantial market share reflects its established infrastructure and integration into existing power grids, making it the preferred choice for utility-scale projects. In contrast, the Off-Grid segment is emerging rapidly, addressing the needs of remote and underserved areas where traditional grid access is limited. This growing demand for decentralized energy solutions has positioned Off-Grid applications as a significant contender in the market.

Power Generation: Grid-Connected (Dominant) vs. Off-Grid (Emerging)

Grid-Connected hydraulic turbines represent the backbone of renewable energy production in many regions, boasting high reliability and efficiency when integrated with national and local electricity grids. These turbines benefit from economies of scale and established technological advancements, which ensure a steady power supply. Conversely, Off-Grid systems are gaining traction, particularly in rural or isolated regions, where energy autonomy is crucial. These systems are often smaller and designed for localized energy needs, driving innovation and adaptation to diverse environmental conditions. Furthermore, advancements in battery storage and hybrid systems are propelling the Off-Grid market, allowing for more robust and reliable energy solutions that cater to specific community requirements.

By Water Source: Reservoir (Largest) vs. River (Fastest-Growing)

In the Hydraulic Turbine Market, the water source segment features distinct categories, with Reservoirs commanding a significant share due to their reliability and established structures. Rivers, while currently a smaller portion of the market, are gaining traction thanks to their accessibility and potential for harnessing kinetic energy. Canals represent a niche within this sector, often leveraged by specific geographic and economic conditions. Each water source contributes uniquely to the market dynamics, dictating the technological adaptations and innovations manufacturers pursue.

Reservoir (Dominant) vs. River (Emerging)

Reservoir-based hydraulic turbines dominate the market due to their ability to provide consistent power generation and their integration with large-scale hydroelectric projects. They capitalize on significant water storage, leading to peak energy production during high-demand periods. Conversely, river-based systems are emerging quickly, favored for their lower environmental impact and quicker setup times. These systems efficiently convert river flow into energy with minimal infrastructure, appealing to developers looking for sustainable options. The comparative ease of deployment of river initiatives supports their growth in the market.

By Application: Hydropower Plants (Largest) vs. Pumped-Storage Hydropower (Fastest-Growing)

The Hydraulic Turbine Market's application segment is primarily dominated by Hydropower Plants, which command the largest share due to their long-established presence and reliance on renewable energy sources. Tidal Energy Generation, while smaller in size, is gaining traction in specific geographic areas where tidal flow presents an untapped opportunity. Pumped-Storage Hydropower also plays a significant role, primarily as a means to balance supply and demand through energy storage capabilities, making it an essential component of the market.

Hydropower Plants (Dominant) vs. Tidal Energy Generation (Emerging)

Hydropower Plants serve as the backbone of the Hydraulic Turbine Market due to their efficiency and ability to produce significant electricity from natural water flows. They utilize a well-established infrastructural network and have clear advantages in scalability. On the other hand, Tidal Energy Generation stands as an emerging segment, leveraging the predictable nature of tides for energy production. Although still in its infancy compared to hydropower plants, advancements in technology and increasing investment make tidal energy a growing contender. The contrast between these two segments highlights the market's inclination towards established solutions while recognizing the potential for innovative alternatives.

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Regional Insights

North America : Innovation and Sustainability Focus

North America is a leader in the hydraulic turbine market, driven by a strong emphasis on renewable energy and sustainability. The region holds approximately 40% of the global market share, with the United States being the largest contributor, followed by Canada at around 15%. Regulatory support for clean energy initiatives and investments in infrastructure are key growth drivers, fostering demand for advanced hydraulic turbine technologies. The competitive landscape in North America features major players like General Electric and Hydro-Québec, which are at the forefront of innovation. The presence of established companies and a robust supply chain enhances market dynamics. Additionally, state and federal incentives for renewable energy projects further stimulate growth, positioning North America as a pivotal region in the hydraulic turbine sector.

Europe : Strong Regulatory Framework

Europe is a significant player in the hydraulic turbine market, accounting for approximately 30% of the global share. The region's growth is propelled by stringent environmental regulations and a commitment to reducing carbon emissions. Countries like Germany and France lead the market, supported by government initiatives aimed at enhancing renewable energy sources and improving energy efficiency in hydropower generation. The competitive landscape is characterized by key players such as Voith GmbH and Alstom SA, which are heavily involved in innovative turbine technologies. The European market is also witnessing collaborations between governments and private sectors to develop advanced hydropower solutions. This synergy is crucial for meeting the region's ambitious renewable energy targets, ensuring a sustainable future for hydraulic turbine applications.

Asia-Pacific : Emerging Market Potential

Asia-Pacific is emerging as a powerhouse in the hydraulic turbine market, holding about 25% of the global share. The region's growth is driven by increasing energy demands and investments in renewable energy infrastructure. Countries like China and India are at the forefront, with significant government initiatives aimed at expanding hydropower capacity to meet rising electricity needs and reduce reliance on fossil fuels. The competitive landscape is marked by the presence of major players such as Toshiba Corporation and Mitsubishi Heavy Industries. These companies are focusing on technological advancements and efficiency improvements in turbine design. Additionally, the region benefits from favorable government policies that encourage the development of hydropower projects, further enhancing market growth prospects in Asia-Pacific.

Middle East and Africa : Resource-Rich Opportunities

The Middle East and Africa region is gradually recognizing the potential of hydraulic turbines, holding around 5% of the global market share. The growth is primarily driven by the need for sustainable energy solutions and the availability of water resources. Countries like South Africa and Ethiopia are investing in hydropower projects to diversify their energy portfolios and enhance energy security, supported by international funding and partnerships. The competitive landscape is still developing, with local and international players exploring opportunities in the hydropower sector. Key players are beginning to establish a presence, focusing on projects that leverage the region's natural resources. As governments prioritize renewable energy, the hydraulic turbine market in the Middle East and Africa is poised for gradual expansion, aligning with global sustainability goals.

Hydraulic Turbine Market Regional Image

Key Players and Competitive Insights

Major players in the Hydraulic Turbine Market industry are focusing on expanding their global presence by adopting various strategies such as mergers, acquisitions, and partnerships. Leading hydraulic turbine market players are investing in research and development to introduce innovative products and solutions, which is further contributing to the development of the hydraulic turbine market. The Hydraulic Turbine Market Competitive Landscape is highly competitive, with a few major players holding a significant market share. 

These players are continuously striving to gain a competitive edge by offering advanced products, cost-effective solutions, and excellent customer support. One of the prominent competitors in the Hydraulic Turbine Market is Voith Hydro. The company offers a wide range of hydraulic turbines, including Francis, Kaplan, and Pelton turbines. Voith Hydro has a strong global presence, with operations in over 40 countries. 

The company is focused on providing customized solutions to meet the specific requirements of its customers. Another major competitor in the Hydraulic Turbine Market is GE Renewable Energy. The company provides a wide range of products and services for the renewable energy industry, including hydraulic turbines. GE Renewable Energy has a strong presence in North America, Europe, and Asia. The company is focused on developing innovative technologies to improve the efficiency and reliability of its hydraulic turbines.

Key Companies in the Hydraulic Turbine Market market include

Industry Developments

The Hydraulic Turbine Market is anticipated to reach a valuation of USD 38.6 billion by 2032, exhibiting a CAGR of 4.38% during the forecast period (2025-2034). The market growth is primarily driven by rising energy demand, increasing focus on renewable energy sources, and supportive government policies. Recent developments in the market include the launch of advanced hydraulic turbines with higher efficiency and reliability. 

For instance, in 2023, GE Renewable Energy introduced its latest Kaplan turbine, designed to maximize energy production and reduce operating costs. Additionally, governments worldwide are implementing favorable policies to promote hydropower development, such as feed-in tariffs and tax incentives. The market is also witnessing strategic partnerships and acquisitions among key players to expand their product offerings and geographical reach.

Future Outlook

Hydraulic Turbine Market Future Outlook

The Hydraulic Turbine Market is projected to grow at a 4.38% CAGR from 2024 to 2035, driven by increasing renewable energy demand, technological advancements, and government initiatives.

New opportunities lie in:

  • Development of smart turbine monitoring systems for predictive maintenance.
  • Expansion into emerging markets with tailored turbine solutions.
  • Partnerships with renewable energy firms for integrated hydroelectric projects.

By 2035, the Hydraulic Turbine Market is expected to be robust, driven by innovation and strategic partnerships.

Market Segmentation

Hydraulic Turbine Market Application Outlook

  • Hydropower Plants
  • Tidal Energy Generation
  • Pumped-Storage Hydropower

Hydraulic Turbine Market Turbine Type Outlook

  • Pelton Turbines
  • Francis Turbines
  • Kaplan Turbines
  • Tubular Turbines

Hydraulic Turbine Market Water Source Outlook

  • Reservoir
  • River
  • Canal

Hydraulic Turbine Market Power Generation Outlook

  • Grid-Connected
  • Off-Grid

Hydraulic Turbine Market Turbine Capacity Outlook

  • <30 MW
  • 30-100 MW
  • >100 MW

Report Scope

MARKET SIZE 202428.58(USD Billion)
MARKET SIZE 202529.83(USD Billion)
MARKET SIZE 203545.81(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)4.38% (2024 - 2035)
REPORT COVERAGERevenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR2024
Market Forecast Period2025 - 2035
Historical Data2019 - 2024
Market Forecast UnitsUSD Billion
Key Companies ProfiledAndritz AG (AT), General Electric (US), Voith GmbH (DE), Siemens AG (DE), Alstom SA (FR), Toshiba Corporation (JP), Mitsubishi Heavy Industries (JP), Hydro-Québec (CA), Statkraft AS (NO)
Segments CoveredTurbine Capacity, Turbine Type, Power Generation, Water Source, Application, Regional
Key Market OpportunitiesIntegration of advanced digital monitoring systems enhances efficiency in the Hydraulic Turbine Market.
Key Market DynamicsTechnological advancements and regulatory changes drive innovation and competition in the hydraulic turbine market.
Countries CoveredNorth America, Europe, APAC, South America, MEA

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FAQs

What is the current valuation of the Hydraulic Turbine Market as of 2024?

The Hydraulic Turbine Market was valued at 28.58 USD Billion in 2024.

What is the projected market valuation for the Hydraulic Turbine Market in 2035?

The market is projected to reach a valuation of 45.81 USD Billion by 2035.

What is the expected CAGR for the Hydraulic Turbine Market during the forecast period 2025 - 2035?

The expected CAGR for the Hydraulic Turbine Market during the forecast period 2025 - 2035 is 4.38%.

Which companies are considered key players in the Hydraulic Turbine Market?

Key players in the market include Andritz AG, General Electric, Voith GmbH, Siemens AG, Alstom SA, Toshiba Corporation, Mitsubishi Heavy Industries, Hydro-Québec, and Statkraft AS.

What are the different turbine capacity segments in the Hydraulic Turbine Market?

The turbine capacity segments include <30 MW, 30-100 MW, and >100 MW, with valuations of 10.0, 10.0, and 8.58 USD Billion respectively.

How do the different turbine types perform in the Hydraulic Turbine Market?

Turbine types such as Pelton, Francis, Kaplan, and Tubular Turbines have valuations of 4.5, 10.5, 8.0, and 5.58 USD Billion respectively.

What is the market performance of grid-connected versus off-grid power generation in the Hydraulic Turbine Market?

Grid-connected power generation is valued at 20.0 USD Billion, while off-grid power generation is valued at 8.58 USD Billion.

What are the water source segments in the Hydraulic Turbine Market?

Water source segments include Reservoir, River, and Canal, with valuations of 10.0, 9.0, and 9.58 USD Billion respectively.

What applications are driving growth in the Hydraulic Turbine Market?

Applications such as Hydropower Plants, Tidal Energy Generation, and Pumped-Storage Hydropower have valuations of 15.0, 5.0, and 8.58 USD Billion respectively.

How does the Hydraulic Turbine Market's growth potential compare across different segments?

The market's growth potential varies, with turbine types and applications showing promising valuations, indicating diverse opportunities for expansion.

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