Hydraulic Turbines Market: Current Analysis and Forecast (2021-2027)

Water turbine is a device capable of transforming potential energy from the head of water into mechanical energy. Turbines can vary widely in form and application. There are varying types of hydraulic turbines. One type is the pure impulse machine in which the flow is low but the head is large. Reaction turbines in which the pressure drops in both fixed and rotating parts of the machine cover a wide range of combinations.

Hydraulic turbines are machines which convert hydraulic energy into mechanical energy. The mechanical energy that is developed by the turbine runs an electric generator which is directly coupled to the shaft of the turbine. The generator develops electric power which is also known as hydroelectric power. In general, a water turbine consists of a wheel called runner which is provided with especially designed blades or buckets. There is a large amount of hydraulic energy in the water when it strikes the runner and causes it to rotate.

Turbines are designed to run for decades with very little maintenance of the main elements. Runners and parts exposed to water include removal, repair and inspection of worn out parts. Turbines can undergo normal wear and tear that includes pitting corrosion from cavitation, abrasion and fatigue cracking from suspended solids in the water. Steel elements are repaired by welding with stainless steel rods.

Based on Technology, the hydraulic turbines market is segmented into Impulse Turbine and Reaction Turbine. Amongst technology, the Impulse Turbine segment of the market was valued at USD XX million in 2020 and is likely to reach USD XX million by 2027 growing at a CAGR of XX% from 2021-2027.

Based on Capacity, the hydraulic turbines market is segmented into Less Than 1000 kW, Between 1000-10000 kW, and More Than 10000 kW. Amongst capacity, More Than 10000 kW segment accounted for a market valuation of USD XX million in 2020 and is expected to reach USD XX million by the year 2027, at a CAGR of XX% over the analyzed period.

Based on Application, the hydraulic turbines market is segmented into Marine, Oil and Gas, Power Storage and Generation, and Others. The power storage and generation segment generated revenue of USD XX million in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027F.

Based on end-user, the Hydraulic Turbines market is segmented into Residential, Commercial, and Industrial. Amongst end-user, the industrial segment of the market was valued at USD XX million in 2020 and is likely to reach USD XX million by 2027 growing at a CAGR of XX% from 2021-2027.

For a better understanding of the market adoption of Hydraulic Turbines Industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia Pacific will dominate the Hydraulic Turbines market on account of increasing industrialization.

Some of the major players operating in the market include General Electric Company, Siemens AG, Andritz AG, Canyon Industries Inc., Voith GmbH & Co. KGaA, Gilbert Gilkes & Gordon Ltd, Kirloskar Brothers Ltd, Norcan Hydraulic Turbine Inc., Litostroj Power Group, and WWS-Wasserkraft GmbH. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Hydraulic Turbines Market was valued at USD XX million in 2020 and is projected to expand significantly with a CAGR of XX% from 2021-2027F to USD XX million in 2027. The Hydraulic Turbines Market is expected to witness a boost on account of its high adoption in the Asia Pacific region.