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Hydro Turbine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

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Hydro Turbine Market: Overview

A hydro turbine is an equipment which utilizes the kinetic and potential energy of flowing water and converts it into mechanical energy to generate electricity with the help of blades. This process is known as generation of hydropower or hydroelectric power.

There are two major types of hydro turbines: reaction and impulse, which are further classified into propeller, francis, and kinetic; and pelton and cross-flow, respectively. Factors influencing the choice of hydro turbine are the height of the standing water (i.e. the head), its flow, volume, the depth at which it must be set, installation cost, and final efficiency.

Reaction turbines generate power with the combined action of moving water and the pressure it exerts. They are given preference at sites with a lower head and higher flow. Impulse turbines, on the other hand, utilize the velocity of the water to generate electricity and are thereby suitable for a higher head and lower flow. Hydro turbines are widely used for power generation, agriculture, electricity production, mechanical drive, marine applications, and industrial pumps.

Hydro Turbine Market: Market Trends

A major factor driving this market is the increasing demand for renewable energy. In the present scenario, there is a stark need to develop methods such as hydropower which causes minimal harm to natural resources. 

Some restraints the market may experience are design challenges, high installation costs of dams and generators, and an overall dearth of awareness regarding the use of hydro turbines.

It can be concluded that the market may experience a steady growth rate during the forecast period.

Hydro Turbine Market: Region-wise Outlook

The market in Asia Pacific is projected to expand during the forecast period, owing to the fact that a majority of countries such as India and Bangladesh are agriculture-driven. China and India are major economies estimated to drive the market in the near future. North America is likely to exhibit a stable demand as well, due to the favorable incentives offered by the government for the utilization of these systems. The rising need for renewable sources of energy is anticipated to propel the market in Europe too. However, Middle East & Africa and Latin America are expected to witness a comparatively sluggish growth rate.

Hydro Turbine Market: Key Players

Major key players operating in the market include Kirloskar Brothers Limited, Siemens AG, Cornel Pumps, and General Electric.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market  

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.

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