About Hydro Turbine
Hydro turbines are also known as water turbines which are used in hydroelectric generation plants that transfer the energy from moving water to a rotating shaft to generate electricity. These turbines rotate or spin when water is being introduced to their blades. These turbines are essential in the area of hydropower as it helps in the process of generating power from water. The hydro turbine can be used in home to generate electricity by installing an electric generator.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new product launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and by providing innovative product across the globe to avail competitive advantage through combined collaborations. The players are also adopting the latest technology which can help in cost reduction. Analyst at AMA Research estimates that Chinese and United States Manufacturers will contribute the maximum growth to Global Hydro Turbine market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Gilbert Gilkes & Gordon Ltd. (United Kingdom), Cornell Pump Company (United States), WWS Wasserkraft GmbH & Co KG (Austria), Toshiba Hydro Power Co., Ltd. (China), Kirloskar Brothers Limited (India), Canadian Hydro Components (Canada), The James Leffel & Co (United States), Harbin Electric Corporation (China), American Hydro (United States) and Cargo & Kraft Turbins Sverige AB (Sweden) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Canyon Hydro (United States), CINK Hydro-Energy (Czech Republic) and MHI Group (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Hydro Turbine market by Type (Impulse Turbine [Pelton, Turgo and Crossflow], Reaction Turbine [Propeller and Francis] and Gravity Turbine [Archimedes Screw and Overshot Waterwheel]), Application (Hydropower Station, Irrigation, Power Generation and Power Storage) and Region.
On the basis of geography, the market of Hydro Turbine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Generator Type, the sub-segment i.e. Pico will boost the Hydro Turbine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Category, the sub-segment i.e. Axial Flow will boost the Hydro Turbine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Reporting mechanisms for hydropower’s carbon footprint are advancing and Launch of new products hybrid water wind turbines
Market Growth Drivers:
Increasing demand of renewable energy sources and Growth in electricity needs in developing countries
Challenges:
Water turbine plants cause low dissolved oxygen levels in the water
Restraints:
Impacting lives of underwater bodies
Opportunities:
Rising requirement for renewable energy in emerging economies
Market Leaders and their expansionary development strategies
In May 2023, ITOCHU Corporation has acquired American Hydro (headquartered in Pennsylvania, USA; hereinafter “American Hydro”) from Wärtsilä Corporation (headquartered in Helsinki, Finland; hereinafter “Wärtsilä”), together with related assets owned by Wärtsilä in Canada. American Hydro manufactures and maintains water turbines in North America whereas Wärtsilä operates businesses relating to ships and energy.
In July 2023, Shizen Energy Inc. and GUGLER Water Turbines GmbH (GUGLER), an Austrian company that develops, designs, and manufactures water turbines for small and medium-sized hydroelectric power plants, have installed a 2.2 MW Pelton turbine and synchronous generator to the Kuroda Hydroelectric Power Plant (Toyota City, Aichi Prefecture) of Chubu Electric Power Co., Inc. (Chubu Electric Power).
Key Target Audience
Suppliers of Hydro Turbine, Wholesalers, distributers and retailers of Hydro Turbine, Power Generating Industry and Governmental bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.