The water turbine market is likely to rise to USD 2.4 billion in 2022 and estimated to reach USD 3.8 billion by 2032 with a CAGR of 4.7% during the forecast period from 2022 to 2032.
Industries across the globe are more inclined towards sources such as solar, water, and wind. In which, demand for water turbines is widely rising to convert kinetic energy into mechanical energy to generate electricity. These are anticipated to increase the water turbine market share along with the water turbine market future trends during the forecast period.
| Report Attribute | Details |
|---|---|
| Water Turbine Market Value (2022) | USD 2.4 billion |
| Water Turbine Market Anticipated Forecast Value (2032) | USD 3.8 billion |
| Water Turbine Market CAGR (2022 to 2032) | 4.7% |
Water turbine being a renewable source, provides energy with a lower environmental impact. The adoption of water turbines is used for power generation from right from household applications to industrial applications. These factors are boosting the water turbine market growth over the last few decades.
Due to healthy economic growth and expected improvement in the living standards of people, developing countries are expected to enlarge the water turbine market size in recent years.
Due to this increasing power demand for water turbines and less availability of power from non-renewable energy sources, industries are leaning in the direction of renewable energy sources. This creates favourable growth in the adoption of water turbines and escalates the water turbine adoption trends.
There are different types of water turbines, such as the Pelton turbine, which is used for high head, and low flow power plants, and the cross-flow turbine for high flow are estimated to grow the water turbine market key trends and opportunities during the forecast period.
Such features of a different turbine according to flow generation endured maximum efficiency at a time of power generation. This leads to a rise in the sales of water turbines as well as the water turbine market opportunities during the forecast period.
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The adoption of water turbines due to generate power is rising as it is a clean energy source, i.e. these energy sources do not contaminate the atmosphere thermal and nuclear power generation plants which boosts the water turbine market growth in the coming forecast period.
The major reason behind growing the hydro-power plant is the renewable resource which is anticipated to rise in demand for water turbines in recent years. Government support for power generation through renewable energy creates a less regulated atmosphere in the market, driving demand for water turbines.
The electricity generation by water turbine is of low cost as compared to the conventional method, i.e. by fossil fuels. This plays a major role in raising the water turbine market size, which is growing the water turbine market's future trends during the forecast period.
Water turbines are censured of impacting the lives of underwater bodies, i.e. the fish population and also affect the water quality after the installation of the plant. However, all these factors are anticipated to have a moderate effect on the water turbine market growth.
Further, water turbine plants can cause low dissolved oxygen levels in the water. This problem may be injurious to riparian habitats, which can hamper the water turbine market growth. The water turbine market is expected to witness the launch of new products. One such example is hybrid water wind turbines. These wind turbines stores water for the generation of hydroelectricity is the leading innovative factor that has helped to grow the water turbine market trends & forecasts in recent years.
In hybrid water wind turbines, once the wind stops blowing, the towers act like batteries and enable the water turbine to produce electricity is supposed to grow the water turbine market size in the coming year.
North America is expected to hold the major water turbine market share by acquiring 24.0% of the share in the water turbine market during the forecast period from 2022 to 2032.
Due to raising the favorable incentives offered by the government for the utilization of green solutions, the rise in economies and low-cost electricity leads to escalating the water turbine market size in the North America region as per the water turbine market report during the forthcoming period.
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The Europe region holds the second position in the water turbine market share after North America acquired 18.0% of the share to raise the water turbine statistics during the forecast period.
The rising demand for water turbines (renewable energy sources) and government regulations in European countries related to the environment rises in need for clean power generation are anticipated to boost the water turbine market growth and water turbine market future trends in recent years.
The water turbine market share is growing to adopt several new innovative technologies, the water turbine is largely used in the dam to produce electricity in huge quantities. Recently, floating houses or hotels using water source energy that is eco-friendly are likely to emerging trends in the water turbine market in recent years.
It includes zero wastage and acquiring minimum energy for generating electricity are anticipated to rise the water turbine adoption trends in coming years. These factors are making human life more flexible. It will be supposed to enlarge the water turbine market size as per demand for water turbines by the end-user in the coming years.
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Some prominent key market participants in the water turbine market are GENERAL ELECTRIC, Wärtsilä, Alterra Power Corporation, Energy Development Corporation, Nautilus LLC, Canyon Industries, Inc., The James Leffel & Co, Toshiba India Pvt. Ltd., Ram Power Corporation, Enel Spa, Sumitomo Corporation, Gilbert Gilkes & Gordon Ltd., and Calpine Corporation.
The key water turbine market player is using a set of methodology to enlarge the water turbine market size. The above key industries are playing a prominent character to function their responsibility to acquire the lion’s water turbine market share while increasing sales of water turbines during the forecast period.
Therefore, they adopt mergers, acquisitions, partnerships, product launches, and other techniques to increase water turbine market demand analysis in the coming years.
Recent Development in the Water Turbine Market is:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.7% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Design, Application, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | GENERAL ELECTRIC; Wärtsilä; Alterra Power Corporation; Energy Development Corporation; Nautilus LLC; Canyon Industries, Inc; The James Leffel & Co; Toshiba India Pvt. Ltd.; Ram Power Corporation; Enel Spa; Sumitomo Corporation; Gilbert Gilkes & Gordon Ltd.; Calpine Corporation |
| Customization | Available Upon Request |
The water turbine market is likely to advance at a CAGR of 4.7% through 2032.
The North American region holds a water turbine market share of 24.0% by 2032.
The water turbine market is anticipated to expect USD 2.4 Billion in 2022.
The water turbine market is expected to account for USD 3.8 Billion by 2032.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Design 5.1. Impulse Turbine 5.2. Pelton Wheel 5.3. Turgo 5.4. Water Wheel 5.5. Jonval Turbine 5.6. Archimedes Screw 5.7. Reaction Turbine 5.8. Francis Turbine 5.9. Kaplan Turbine 5.10. Tyson Turbine 5.11. Gorglow Turbine 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 6.1. Power Generation 6.2. Power Storage 6.3. Marine 6.4. Aeronautics 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa (MEA) 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. General Electric 15.2. Wärtsilä 15.3. Alterra Power Corporation 15.4. Energy Development Corporation 15.5. Nautilus LLC 15.6. Canyon Industries, Inc. 15.7. The James Leffel & Co 15.8. Toshiba India Pvt. Ltd. 15.9. Enel Spa 15.10. Sumitomo Corporation 15.11. Gilbert Gilkes & Gordon Ltd. 15.12. Calpine Corporation 16. Assumptions & Acronyms Used 17. Research Methodology
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Water Turbine Market
