Hydropower Turbine Market Growth Analysis

Market Insights

The hydropower turbine market was valued at US$ 1.2 Billion in 2021 and is projected to reach US$ 2.05 Billion by 2028, registering a CAGR of 7.88% during the forecast period and the major factor contributing to the demand for hydropower turbines is the growing demand for clean energy.

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What is hydropower turbine?

Hydropower turbines are the means to produce electricity. In hydropower turbines, where mechanical energy is created as the moving water spins rotors on a turbine. This energy is converted to electrical energy for further transmission.

Key Players

Some of the major players in the market are-

• General Electric
• Siemens AG
• Toshiba Corporation
• Kirloskar Brothers Limited
• Capstone Turbine
• Wartsila
• IMPSA
• Voith
• WWS Wasserkraft GmbH.

Segment Analysis

Capacity Type

The market is segmented as ≤1 MW, 1 - 10 MW, and >10 MW. The >10 MW segment is estimated to maintain its dominance over the forecast period, owing to the growing demand for the uninterrupted power supplies from communities in off-grid areas.

Product Type

The market is segmented as impulse and reaction. The impulse segment accounted for the larger share of the market in 2021, and is expected to maintain its leading position, during the forecast period. The growth of the segment is owing to its cost effectiveness and low maintenance.

Head Type

The market is segmented as 2–25 m, 25–70 m, and >70 m. The 2-25 m segment is likely to grow with the highest CAGR over the forecast period driven by low construction expense, low impact on environment, and low risk of flash flood.

Regional Analysis

Asia-Pacific is estimated to be the largest market in 2021 and expected to grow with a lucrative CAGR during the forecast period. The growth of the region’s market is attributed to rapid industrial development and supportive government initiatives.

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Segmentation

The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories. 

by Capacity Type:

• ≤1 MW
• 1 - 10 MW
• >10 MW

by Product Type:

• Impulse
  • (Product Type Analysis: Pelton, Turgo, Cross flow, and Archimedean Screw)
• Reaction
  • (Product Type Analysis: Propeller, Francis, and Kinetic)

by Head Type:

• 2–25 m
• 25–70 m
• >70 m

by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others) 

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Trend and forecast analysis
• Segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors 

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by capacity type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.