Category : Energy and Power | Published at : April-2019 | Delivery Format : PDF | Status: Published | Pages : 160
Introduction
Hydro turbine is the electro-mechanical device used to generate electricity in hydropower generation projects. Hydro turbines transfer power to a rotating electricity generation shaft from moving water. The turbines rotate or turn as a reaction to the water in their blades. In the area of hydro power (the water power generation process), hydro turbines are essential. The turbine structure is usually straightforward. The plate or the rotating shaft is fitted with a row of blades, which then moves water across the blades to trigger the inner shaft to rotate. Electricity is generated by transferring this rotational motion to a generator. The type of turbine selected for hydroelectric plants is based on the amount of flowing water (known as the hydroelectric discharge) and water storage height (known as the hydraulic head). Cost and efficiency must also be taken into account. The report provides analysis of global Hydro Turbine market for the period 2016-2026, wherein 2019 to 2026 is the forecast period and 2017 is considered as the base year.
According to Acumen Research and Consulting, the global Hydro Turbine market is expected to grow at noteworthy CAGR around 4.5 % throughout the forecast period and reach around US$ 2.7 billion by 2026.
Market Dynamics
Renewable energy needs in emerging economies are expected to be increasing to provide hydro turbine manufacturers with a good opportunity for growth. In the coming years, emerging markets are offering renewable energy a potentially strong growth opportunity. Hydropower is an increasingly sought after power option because of its competitiveness in countries that need to enhance productive capacity to maintain economic growth rates. Technology flexibility also provides a more competitive opportunity for hydraulic projects, particularly if grid access is difficult, as is often the case in emerging markets, for the direct delivery to enterprises and industries.
In terms of value (USD) and volume (Units), the Asia-Pacific hydro turbine market is anticipated to be the highest growth in the expected period. As part of increasing government initiatives to address frequent power shortages, the market has seen considerable growth in the Asia-Pacific region. In the near future, China and India are projected to be major economies driving the market.
Industry Outlook
The dynamics of the global hydro turbine market are mainly linked to technological advances and advanced grid integration. Hydro turbine market dominates Asia Pacific and South America. In addition, the operation and construction of the project is growing, as the generation of hydropower does not emit air pollutant and other global warming gasses, thus helping to boost hydro turbine demand for electricity, particularly in emerging economies. The advantage of hydropower over wind power lies in water being more dense than air; therefore, rotating the Turbine requires greater wind force than for water in a hydropower system to collect the mechanical energy of wind. Therefore, developing countries favor hydropower projects which, in turn, drive the market for hydro turbines. Furthermore, marine and hydrokinetic systems (MHK) transform ocean and river currents ' energy into electricity. In coastal loading centres, MHK technologies have a significant potential to supply renewable energy to consumers and are expected to offer enormous opportunities for the hydro turbine market. Technologically advanced equipment is preferred for hydro - electric projects in saturated markets such as Europe and North America. These also offer hydro - project owners modern techniques such as telephone applications, drones and computer models.
An environmental issue is one of the main challenges to the growth of the hydro turbine market. The upstream flows are caught up behind a reservoir in hydro power projects, which reduces downstream flows of rivers. Furthermore, reducing river flow can damage the habitat of plants and animals as water temperatures can alter them. The quality of water may also be affected by the decrease in oxygen in the river. In addition, the effects of hydropower on water and downstream riparian rivers are diversion of natural river flows. These factor acts as a barrier in the renewable energy sector's growth of the hydro turbine market.
Regional Snapshots
Based in the region, North America, Europe, Asia-Pacific, Middle East & Africa and Latin America are world-class Hydro Turbine markets. China alone accounts for close to one third of the hydropower capacities worldwide, and has upgraded its total installed capacity to 331 GW, including 26,7 GW of pumped storage, by about 11,74 GW in 2016, including 3,74 GW. The Wudongde Project on the South-West Jinsha River, which will provide installed capacity of 10.2 GW, is the most notable of the Chinese hydropower fleets under construction. 12 turbines of 850 MW will be installed in the project. The building phase began in 2014, with the first generator set to be started in 2018.
South America has more than tripled its 2015 commissioned capacity by more than 9.7 GW of new hydropower installed in 2016. The demand for hydro turbines in the region has thus been increased. The region's extensive water supply and different hydro-power projects initiated in the year can be the main cause of this strong growth. For example, the 3,750 MW jirau project on the river Madeira was completed in Brazil. In November 2016, Ecuador has completed its 1.500 MW Coca Coda Sinclair plant. Cerro de Águila (510 MW) and Chaglla (456 MW) were commissioned by Peru. After the commissioning of the hydroelectric Hidrosogamoso 820 MW, 10 MW Bajo Tuluá (2015), and 20 MW Tunjita (2016) stations, Colombia achieved a total capacity of 11,606 MW, 70 percent of the national electricity grid. Moreover, hydropower development targets for the near future have been defined by several countries in the region, thereby strengthening the market of hydro turbines. In Brazil, for example, the objective is to increase its hydropower installed to 116.700 MW by 2019. Ecuador intends to meet 86 percent of hydropower electricity demand by 2020. Hydropower is key in the development of South America and is therefore at the heart of the national energy strategies of the different countries, including Bolivia, Brazil, Ecuador and Paraguay. As a consequence, South America is a lucrative part of the fastest growing hydro turbine market due to the constant growth in the field of hydropower and its immense untapped hydropower potential.
Market Segmentation
Hydro Turbine Market by Type
- Reaction Turbine
- Kaplan Turbine
- Bulb Turbine
- Francis Turbine
- Impulse Turbine
- Cross Flow Turbine
- Pelton Turbine
Hydro Turbine Market by Installation Type
- Large Hydro Plants (more than 500 kw)
- Mini Hydro Plants (100 kw – 500 kw)
- Micro Hydro Plants (5 kw – 100 kw)
- Pico Hydro Plants (0 kw – 5 kw)
Hydro Turbine Market by Head Type
- High Head (300 m to 1500 m)
- Medium Head (30 m to 300 m)
- Low Head (Less than 30 m)
Global Hydro Turbine Market, by Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Chile
- Rest of Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
The market research study on “Hydro Turbine Market (By Type: Reaction Turbine [Kaplan Turbine, Bulb Turbine, Francis Turbine], Impulse Turbine [Cross Flow Turbine, Pelton Turbine]; By Installation Type: Large Hydro Plants (more than 500 kw), Mini Hydro Plants (100 kw – 500 kw), Micro Hydro Plants (5 kw – 100 kw), Pico Hydro Plants (0 kw – 5 kw); By Head Type: High Head (300 m to 1500 m), Medium Head (30 m to 300 m), Low Head (Less than 30 m)) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Hydro Turbine market segments with market dynamics and their impact. The report provides insights on global Hydro Turbine market by type, by Installation, by head, and major geographic regions. The report also covers basic technology development policies.
The report offers an overview of the market and statistical diagrams to support the expected figures. Our analysts predict the market scope and future prospects in an insightful way. The Acumen Research and Consulting report contains a comprehensive analysis of the global market in Hydro Turbine segmented by molecular type, test type and region. The report outlines numerous growth strategies implemented by companies as well as the latest market trends. The market share and current position of all leading players are discussed in detail. It analyzes players ' new revenue sources and highlights the different strategies.
Major Participants
The Hydro Turbine market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are General Electric Co., Toshiba Energía AG, Kirloskar Brothers Ltd., Siemens AG, Canyon Inc., Gilbert Gilkes & Gordon Ltd. and Canadian Hydro Components Ltd. Components GmbH, Cornell Pump Co. among others.
With the attendance of many small and medium-sized manufacturers, the market is fragmented. The strong presence of local manufacturers and suppliers, particularly in China, is one of the main reasons for market fragmentation. In addition, companies focus on product adaptation, strategic partnerships and new customer acquisitions to gain more market shares.
