Hydro Turbine Market Analysis

Technology (Reaction Turbines, Impulse Turbines)

The reaction turbines segment is predicted to hold 62% share of the global hydro turbine market in the year 2037 owing to the increasing use of reaction turbines in low and medium-head hydropower turbines. Since water pressure in reservoirs varies with water volume, reaction turbines are ideal for use in reservoirs because they provide constant water pressure and water supply for a steady flow.  As most hydropower stations use reaction turbines in electricity generation, the increasing number of power mills and hydropower plants across the world is slated to drive segment growth.

Application (Power Generation, Power Storage, Marine, Aeronautics)

The marine segment in the hydro turbine market is expected to garner a significant share of around 46% through 2037 on account of the increasing number of dams and reservoirs across the world. Marine energy technology is crucial in achieving clean energy targets and handling climate change, hence the increasing commercialization of marine energy and increasing awareness of environmentally friendly energy sources in the future is also expected to propel the market segment growth in the coming years. As per the estimations of the International Energy Agency (IEA), it was projected that more than 300 gigawatts of marine energy capacity will be installed by the end of 2050 with an investment of USD 35 billion which will result in a decrease of 500 million tons of carbon dioxide emissions per annum.

Our in-depth analysis of the global market includes the following segments: