Hydro turbine generator units play a vital role in electricity production from hydro power plants, as they convert kinetic energy of flowing water into electrical energy. These units are highly efficient, reliable and have much lower carbon footprint compared to traditional power generation methods. The major components of hydro turbine generator units include turbines, generators, governing systems, hydraulic cylinder, andguide vanes which ensure smooth rotary motion of turbines to generate electricity.
The global Hydro Turbine Generator Unit Market is estimated to be valued at US$ 10 billion in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing emphasis on adopting renewable and clean energy sources across the globe to mitigate environmental issues is a key trend fueling growth of the hydro turbine generator unit market. stringent environmental regulations regarding carbon emissions from conventional power plants have encouraged shifting towards alternative energy sources. Hydro power is considered one of the most eco-friendly renewable sources of energy. Thus, increasing installation of new hydro-power projects primarily in developing regions of Asia Pacific and Latin America is expected to drive demand for hydro turbine generator units during the forecast period. Furthermore, technological advancements to improve efficiency of hydro turbine units will further support the market growth over the coming years.
Segment Analysis
The Global hydro turbine generator unit market size is dominated by impulse and reaction turbines. Among these, impulse turbines account for over 60% share primarily due to their higher efficiency in environments with high hydraulic heads. Impulse turbines work best where hydraulic head is high and discharge is low. Their ability to handle high pressure water more efficiently makes them ideal for micro hydropower projects.
Key Takeaways
The global Hydro Turbine Generator Unit market is expected to witness high growth.
Regional analysis: The Asia Pacific region holds the major share in the hydro turbine generator unit market owing to large hydropower projects in countries such as China, India and Japan. Rapid industrialization and growing energy needs are expected to drive further investments in hydropower generation capacity in the region.
Key players: Key players operating in the hydro turbine generator unit market are GE Renewable Energy, ANDRITZ, Toshiba, Hitachi Mitsubishi Hydro, Kirloskar Brothers Limited, Voith, Technofit, CMS, Dongfang Electric Corporation and Harbin Electric. GE Renewable Energy dominates with over 25% market share led by its extensive product portfolio and global aftermarket services. ANDRITZ and Voith are other major suppliers focused on developing customized solutions for large hydropower projects worldwide.
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