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Hydraulic Turbines Market by Product (Reaction, Impulse), Rating (Small, Medium, Large), End-User (Industrial, Commercial, Residential)

PORTLAND, OREGON, UNITED STATES, September 5, 2022 /EINPresswire.com/ --

Hydraulic Turbine Top Companies

Some of the key players profiled in the hydraulic turbine market include General Electric Company, Siemens AG, Andritz AG, Toshiba Hydroelectric Power, Kirloskar Brothers Ltd, and Litostroj Power Group.

AMR published a report, the global hydraulic turbines Market size was valued at $0.9 billion in 2019, and is projected to reach $1.5 billion by 2027, growing at a CAGR of 5.7% from 2020 to 2027.

Key Locating of Hydraulic Turbine Market:

The impulse turbine segment is projected to grow at the highest CAGR of around 5.9%, in terms of revenue, during the forecast period. This is attributed to rise in demand in small and medium sized hydropower plants, and chemical and pharmaceutical industries.

By end-user, the industrial segment held more than 30% market share with a CAGR of 6.9%, in terms of revenue, during the forecast period.

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By region, the Asia-Pacific dominated the market with more than 50% market share.

Increase in demand for renewable power sources is expected to drive the market growth. Moreover, replacement of old coal and fossil fuel power plants with renewable power sources is another major factor that propels the hydraulic turbine market growth.

Governments across the globe are promoting sustainable energy sources, which can replace conventional fossil fuel sources. Moreover, rise in prominence of various technologies such as low head turbines and small hydro plants is expected to create new market opportunities.

On the basis of rating, the 10MW and above segment accounted for the highest revenue share in 2019. This was attributed to application of hydraulic turbines in industrial and commercial sectors. Most of these hydraulic turbines are used for hydraulic power plants for power generation.

Asia-Pacific accounted for the highest revenue share in 2019, owing to rise in concern from governments across emerging nations, such as China, India, and South Korea, regarding zero emission norms. Moreover, China being the largest producer of hydropower is expected to foster growth of the market in Asia-Pacific. Total production of hydropower in China is around 5 times than that of the U.S.

Impact Of Covid-19 On The Global Hydraulic Turbine Market

The hydraulic turbine market trends witnessed mixed impact of COVID-19 pandemic in countries such as China, Brazil, and India.
Brazil hydraulic turbine market was affected, owing to cancellation of large number of projects.

Supply chain disruption and travel restriction of personnel largely impacted ongoing projects. In addition, restrictions on cross border transport delayed material replenishment.

Shift in trend toward remote working is considered as a vital solution to improve the market conditions. Various automation companies such as ABB and Siemens are accelerating remote connectivity to ensure access to field operators and service engineers who cannot be on-site at this time.

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Hydraulic turbine is used to generate electricity using kinetic energy of falling water. Falling water on turbine creates mechanical energy, which is further converted into electrical energy through hydroelectric generator.

David Correa
Allied Analytics LLP
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