The hydraulic turbine, often known as the water turbine, turns water's kinetic energy into mechanical energy. Water strikes the blade as it goes through the turbine, providing mechanical energy. The mechanical energy is then converted into electrical energy by a hydroelectric generator in the system. Factors such as development of private energy-generating enterprises is creating profitable opportunities for the hydraulic turbines market in the forecast period.
MARKET DYNAMICS
The significant surge in demand for renewable power sources and increasing government initiatives for sustainable energy sources are driving the growth of the hydraulic turbines market. The initial installation cost of hydraulic turbine is high and it is suitable only for limited places for construction of hydropower plants may restrain the growth of the hydraulic turbines market. Furthermore growth in prominence of various technologies such as run-of-river, low head turbines, and small hydro plants is anticipated to create market opportunities for the hydraulic turbines market during the forecast period.
MARKET SCOPE
The "Global Hydraulic Turbines Market Analysis to 2028" is a specialized and in-depth study of the hydraulic turbines market with a special focus on the global market trend analysis. The report aims to provide an overview of hydraulic turbines market with detailed market segmentation by type, end user, and geography. The global hydraulic turbines market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading hydraulic turbines market players and offers key trends and opportunities in the hydraulic turbines market.
MARKET SEGMENTATION
The global hydraulic turbines market is segmented on the basis of by type and end user. On the basis of type the market is segmented into reaction and impulse. Based on end user the market is segmented into residential, commercial, and industrial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global hydraulic turbines market based on various segments. It also provides market size and forecast estimates from year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The hydraulic turbines market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting hydraulic turbines market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the hydraulic turbines market in these regions.
IMPACT OF COVID-19 HYDRAULIC TURBINE MARKET
In countries like China, Brazil, and India, the COVID-19 pandemic had a mixed influence on the hydraulic turbine sector. In China, demand for hydropower has decreased, although there has been a reintroduction of hydropower development. The hydraulic turbine market in Brazil has been impacted by the cancellation of a large number of projects. Furthermore, industry players are forced to follow strict restrictions as a result of social distancing and lockdown norms, which has harmed hydraulic turbine operations. For instance, in 2020, Statkraft halted construction of its two projects of 100 MW and 52 MW in India and Chile, respectively.
MARKET PLAYERS
The reports cover key developments in the hydraulic turbines market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from hydraulic turbines market are anticipated to lucrative growth opportunities in the future with the rising demand for hydraulic turbines market. Below mentioned is the list of few companies engaged in the hydraulic turbines market.
The report also includes the profiles of key hydraulic turbines market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- General Electric Company
- Canyon Industries Inc.
- Siemens AG
- Andritz AG
- Toshiba Hydroelectric Power
- Kirloskar Brothers Ltd
- Litostroj Power Group
- Gilbert Gilkes & Gordon Ltd
- Norcan Hydraulic Turbine Inc.
- WWS-Wasserkraft GmbH