Hydraulic turbine market is anticipated to grow at a significant CAGR of 10.7% during the forecast period (2024-2031). The growth of the hydraulic turbine market is attributed to the global trend toward renewable energy sources, such as hydropower, that has fueled demand for hydraulic turbines. The hydraulic turbine sector is undergoing digital transformation. This involves the integration of sensors, data analytics, and automation to optimize turbine operation, predict maintenance needs, and enhance overall performance. According to the International Energy Agency (IEA), in June 2021, the Share of hydro in total renewable capacity was 45.0% and the Share of hydro in total generation was 17.0%.
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Optimizing elements like guide vane openness, duct profile, and blade thickness to increase the efficiency of hydraulic turbines. Transmission efficiency can be increased and energy loss can be minimized by switching from a mechanical to a hydraulic transmission through configuration device optimization. The development and utilization rate of hydropower is determined by the performance of hydraulic turbines, which are the primary mechanical equipment used in the process. The development of hydraulic turbine technology has advanced significantly, propelled by advances in contemporary science and technology. The increasing need for fuel-efficient and lightweight applications is driving up demand for strong and lightweight hydraulic components. In the production of hydraulic components, new materials such as composites and high-strength alloysare taking the place of conventional materials.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Hydraulic Turbine Market by Product Type
- Reaction
- Impulse
Global Hydraulic Turbine Market by Capacity
- Small (Less than 1MW)
- Medium (1MW to 10MW)
- Large (10MW and above)
Global Hydraulic Turbine Market by End-User
- Industrial
- Commercial
- Residential
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Andritz AG
- Bharat Heavy Electricals Ltd. (BHEL)
- Canadian Hydro Components Ltd.
- Canyon Hydro
- CINK Hydro-Energy s.r.o.
- Dongfang Electric Corp.
- FLOVEL Energy Pvt. Ltd.
- General Electric Company
- Gilbert Gilkes & Gordon Ltd.
- Harbin Electric Corporation Co., Ltd.
- IREM S.p.A
- Kirloskar Brothers Ltd.
- LITOSTROJ POWER
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Norcan Hydraulic Turbine Inc.
- NTN Corp.
- Voith GmbH & Co. KGaA
- Wärtsilä Corp
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global hydraulic turbine market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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