Hydropower Turbine Market Research Report - Global Forecast till 2030

Hydropower Turbine Market Research Report: By Type (Reactive, Impulse, Gravity, Others), By Capacity (Less than 1 MW, Between 1 – 10 MW, Above 10 MW) and By Application (Power Generation, Power Storage, Marine, Aeronautics) – Forecast to 2030

ID: MRFR/E&P/6752-HCR | February 2021 | Region: Global | 111 pages

Hydropower Turbine Market Scenario


Hydropower Turbine Market is forecast to grow at a CAGR of 3.01% and cross USD 2.86 Billion by 2025.


By Region



  • North America: This region is heavily vested in the generation of hydropower as well as releasing the potential application of hydropower turbines in the marine and aeronautics field.



  • Europe: Europe has some of the most developed hydroelectricity generation sectors in the world. Norway generates more than 90% of its energy needs via hydropower. Europe prioritizes renewable energy and consequently it is boosting the European market.



  • Asia-Pacific: The largest and fastest growing region for this market, Asia-pacific has excellent hydropower potential along with a huge energy demand. The low cost of energy conversion and the renewable nature of hydroelectricity are the chief reasons for its adoption in this region. China leads the world in production of hydroelectricity and India has tremendous hydropower potential that it is just realizing.



  • Middle east & Africa: Though a small market, this region boasts the most untapped hydropower potential in the world. The growing industrialization and urbanization within this region are responsible for a growing energy demand which can be met through hydropower. International agencies such as UNIDO are heavily promoting the setting up of micro and small hydroelectric plants throughout this region.



  • South America: South America has limited hydropower potential when compared to other regions, but that too is very underutilized. This acts as a driver for the market in the region.


Key Players



  • General Electric

  • Andritz

  • Toshiba Energy

  • Kirloskar Brothers Ltd.

  • Siemens

  • Canyon Industries Inc.

  • Hitachi Ltd.

  • Cornell Pump Co.

  • Canadian Hydro Components Ltd.

  • WWS Wasserkraft GmbH

  • Capstone Turbine

  • Gilbert Gilkes & Gordon


Market Synopsis


The global move towards renewable sources of energy is causing the growth within the global hydropower turbine market.


Hydropower turbines are extremely energy efficient, being able to convert almost 90% of the energy to electricity. They are easy to maintain and require no fuel to function.


Hydroelectricity is the most dominant renewable energy source, responsible for more than 16% of civilian power generation. The use of hydropower turbines is essential for this energy generation.


Newer hydropower turbines are being innovated which can supply energy drawn from small water sources and provide clean energy for small towns, villages and even for personal use, ensuring a growth for this market.


Hydropower turbines are finding utility in cooling systems, ventilation and heating in building automation as well as in the aeronautical sector.


Market USP


Hydropower turbines are extremely energy efficient.


Market Drivers



  • The high demand and potential of hydroelectric power generation.

  • The excellent energy conversion offered using hydropower turbines.

  • Very low maintenance cost

  • Increased applicability in building automation, marine industry and the aeronautical industry.

  • Requires zero fuel

  • Design and manufacture of hydropower turbines is not overtly complex


Market Restraints



  • High cost of setting up hydropower turbines due to the need for supporting infrastructure.

  • Lack of policy standardization concerning hydropower turbines.


Segmentation


By Type



  • Reactive: The largest market within this segment, reactive hydropower turbines are used for low head and medium head applications. The water pressure hitting the turbine varies according to the volume of water available, thereby making it ideal for use where reservoirs can provide water and constant pressure to ensure steady supply.



  • Impulse: Impulse turbines ensure a constant water pressure using a nozzle. Thus, the kinetic energy of water is used on the turbine instead of the potential energy. This has application for very high head dams which generate tremendous water pressure that must be regulated.



  • Gravity: This turbine coverts rotational energy generated from a liquid vortex. It is ideal for low head applications for typically small energy generation. The rotation improves water quality as well. Perfect for villages and houses next to moving water sources, this is a segment that is growing.



  • Others: This includes pump hydropower turbines, turbines use in building automation, etc.


By Capacity



  • Less than 1 MW: A growing sector with very little of its full potential being realized, micro hydro power plants can negligible impact on its environment and are an excellent source of power generation for use in the immediate vicinity of the plant. UNIDO is currently implementing these projects throughout Africa, China and India.



  • Between 1 – 10 MW: An excellent source of power for developing nations, they are currently underutilized due to the emphasis on first developing large power generation plants. Their potential is tremendous, and they require a moderate amount of capital to build.



  • Above 10 MW: This is the fastest and largest segment within this market due to the huge amounts of renewable energy that can be generated without the use of fuel. The Three Gorges dam in China has an installed capacity of 22500 MW and is responsible for supplying over 1.5% of China’s energy need.


By Application



  • Power Generation: The largest and fastest growing sector is power generation. Countries like Norway have almost all their energy demands met through hydropower generation and the top countries producing hydropower are China, Canada, US, Russia and India. This segment has tremendous potential worldwide.



  • Power Storage: power storage is critical to meet power demands during peak energy consumption times. The bulk of power storage (more than 99%) comes through pumped storage hydroelectricity. This sector completely dominates the power storage segment and continues to grow concurrent with the growth of energy requirement worldwide.



  • Marine: Hydropower turbines are increasingly being used to generate power from marine sources through wave energy generation and pumped hydroelectric storage. Special precautions are necessary due to the difference in water properties of marine water (more salinity and other dissolved substances). Though a niche segment, it has the potential to generate enough energy to satiate global demand.



  • Aeronautics: Aeronautics are increasingly using hydropower turbines within their ambit due to the fluid dynamics which retain many similar application formulae across liquids and gases.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2025: USD 2.86 Billion
  • 2030 : Significant value
  •   CAGR   3.01% CAGR (2022 to 2030)
      Base Year   2021
      Forecast Period   2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Capacity, Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   General Electric, Andritz, Toshiba Energy, Kirloskar Brothers Ltd., Siemens, Canyon Industries Inc., Hitachi Ltd., Cornell Pump Co., Canadian Hydro Components Ltd., WWS Wasserkraft GmbH, Capstone Turbine, Gilbert Gilkes & Gordon
      Key Market Opportunities   New product launches and R&D Amongst major key Players
      Key Market Drivers

  • The high demand and potential of hydroelectric power generation
  • The excellent energy conversion offered using hydropower turbines
  • Very low maintenance cost
  • Requires zero fuel
  • Design and manufacture of hydropower turbines is not overtly complex


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    Frequently Asked Questions (FAQ) :


    The hydropower turbine market can thrive at 4.55% CAGR by 2025.

    The hydropower turbine market can value at USD 2741.7 Bn by 2025.

    General Electric, Siemens, Kirloskar Brothers Ltd., Toshiba Energy, and Andritz are some reputed companies in the hydropower turbine market.

    Power generation, marine, power storage, and aeronautics are areas of application of hydropower turbines.

    Impulse, reactive, and gravity are types of hydropower turbines.