According to a new market report published by Transparency Market
Research (titled “Hydro
Turbine Market (Type – Impulse Turbine (Pelton Turbine and Cross Flow Turbine)
and Reaction Turbine (Kaplan Turbine, Francis Turbine, and Bulb Turbine);
Installation Site – Pico Hydro Plants (0 kw – 5 kw), Micro Hydro Plants
(5 kw – 100 kw), Mini Hydro Plants (100 kw – 500 kw), and Large Hydro Plants
(more than 500 kw); Head Type – Low Head (Less than 30 m), Medium Head (30 m to
300 m), and High Head (300 m to 1500 m) – Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast, 2018 - 2027,” the global hydro turbine market is expected to reach a
value of US$ 3,020.3 Mn by 2027. In terms of value, the market is estimated to
expand at a CAGR of 4.7% during the forecast period from 2018 to 2027. Based on
volume, the market stood at around 7,015 units in 2017. The Asia Pacific hydro
turbine market is projected to witness the highest growth during the forecast
period both in terms of value (US$ Mn) and volume (Units). The market
witnessed considerable growth in the Asia Pacific region due to increasing
government initiatives to deal with frequent power shortages. China and India
are major economies estimated to drive the market in the near future.
The hydro turbine market is influenced by the prime driving factor of
advancements in technology along with advanced grid integration. In terms of
type, the reaction turbinesegment is anticipated to gain the largest share with
total value of US$ 2,313.3 Mn by 2027 at a CAGR of 4.8% annually. However,
environmental concern of hydropower generation is one of the major challenges
restraining the growth of the market. Nevertheless, the market is
anticipated to grow due to rising requirement of hydro turbines in emerging
economies for renewable energy.
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In 2017, based on type, the reaction turbine segment accounted for value
of about US$ 1,472.1 Mn in the global hydro turbine market. Demand for reaction
turbine type is increasing because these turbines are preferred for power
generation due to their advantage of remaining dipped in water and because they
use the pressure energy of water to generate power. Based on head type, the
medium head (30 m to 300 m) segment is anticipated to reach US$ 1,157.9 Mn at a
CAGR of 4.5% by 2027. A low-head dam is one with a water drop of less than 30 m
and a producing capacity up to 15,000 kW. High-head (300 to 1500) dams can
create more power at lower costs than low-head dams; however, construction of
large dams may be limited by economic conditions, by environmental
considerations, or by lack of suitable sites. In contrast, there are many
existing medium head dams and drops in elevation where medium generating plants
could be installed. New medium-head dams could be built to increase output as
well. The key to the usefulness of such units is their ability to generate
power near where it is needed, reducing the power inevitably lost during
transmission. The above factors are expected to boost the medium head (30 m to
300 m) segment during the forecast period. In terms of installation site, large
hydro plants (more than 500 kw) segment is anticipated to reach US$ 1,912.0 Mn
at a CAGR of 4.8% by 2027.
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Some of the key players profiled in the global hydro turbine market are
General Electric Co., ANDRITZ AG, Toshiba Energy, Harbin Electric Machinery,
Kirloskar Brothers Ltd., Siemens AG, Canyon Industries Inc., Cornell Pump Co.,
Gilbert Gilkes & Gordon Ltd, WWS Wasserkraft GmbH, and Canadian Hydro
Components Ltd.
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