Global Hydro Turbine Generator Units Market Overview:
The role of the turbine is to convert the energy of water, steam or wind into mechanical energy which make the generator spin. The generator further transforms the mechanical energy into electricity. In hydropower plants, this combination of turbine and generator is known as a generating unit. In this generating unit, water rushes over the penstock and into the scrollcase. It turns the turbine blades and is then strained to the turbine axis to exit through the underneath draft tube. The mechanical energy produced by the tremendous force which rushing water exerts on the turbine is transferred to the generator, which then converts it into electrical energy.
As per latest study released by AMA Research, the Global Hydro Turbine Generator Units market is expected to see growth rate of 6.9%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Technological Developments in Hydro Turbines
Market Growth Drivers:
Increasing Number of Hydropower Projects Worldwide and Introduction of New Products Hybrid Water Wind Turbines
Challenges:
Environmental Concern Associated With Hydro Turbine
Restraints:
High Cost Related to Product
Opportunities:
Rising Requirement for Renewable Energy in Developing Countries
Competitive Landscape:
The global market is highly competitive and consists of a limited number of providers competing. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Some of the key players profiled in the report are Toshiba (Japan), Harbin Electric (China), Dongfang Electric (China), Power Machines (Russia), Mitsubishi Hitachi Power Systems, Ltd (Japan), IMPSA (Argentina), Zhefu (China), CME (China), BHEL (India) and Gilkes (United Kingdom). Additionally, following companies can also be profiled that are part of our coverage like Canyon Hydro (United States) and Tianfa (China). Analyst at AMA Research see Chinese Manufacturers to retain maximum share of Global Hydro Turbine Generator Units market by 2030. Considering Market by Size, the sub-segment i.e. Pico-Hydro Generator will boost the Hydro Turbine Generator Units market.
Latest Market Insights:
In August 2023, Andritz and Sumitomo Heavy Industries (SHI) signed a memorandum of understanding (MoU) to collaborate on the development and supply of large hydro turbines and generators. This focuses on markets like Southeast Asia and Africa.
In September 2023, Siemens Gamesa launched its new "SG 14.5-230 DD" offshore wind turbine, featuring a larger generator and higher capacity, suitable for deeper waters and stronger wind conditions. This technology could be adapted for high-head hydropower applications.
Section 401 of the Clean Water Act (CWA) bars FERC from issuing a license for a hydropower project until the state or states where the project is located certify that the project will comply with applicable state water quality standards. These water quality certifications often contain conditions as a condition of certification, which FERC must include as license conditions.
What Can be Explored with the Hydro Turbine Generator Units Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Hydro Turbine Generator Units Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Hydro Turbine Generator Units
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Hydro Turbine Generator Units market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Hydro Turbine Generator Units market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Hydropower Turbines, Suppliers of Hydropower Turbines Parts, Power Industry, Governmental Bodies and Research Firms.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.