Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Hydro Turbine Market size was valued at USD 2.21 billion in 2024 and is likely to cross USD 4.32 billion by 2037, registering more than 5.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of hydro turbine is estimated at USD 2.4 billion.
The growing preference for sustainable energy development, as well as the increased utilization of renewable energy resources such as hydropower due to low-cost energy production, are expected to drive market growth. As per projections, the hydroelectric capacity is expected to rise by 10% by the end of 2024 around the globe.
The rising demand for clean energy, combined with the increasing adoption of clean energy policies by many industries in order to meet the government's pollution limits to prevent carbon emissions, is expected to create a significant opportunity for market growth in the coming years.
The increasing demand for electricity worldwide as the world's population grows is also attributed to market growth.
