The Global Hydro Turbine Market 2020-2023 Research Report provides idealistic and determined details of the Hydro Turbine Market, that assist you in promoting ideas with research-based factors. It offers in-depth data, refines variations of the worldwide Hydro Turbine market to help you in deciding the final strategy. The report features a thorough outlook of the market considering profitability, attractiveness, revenue, and CAGR.
The Hydro Turbine Market Research Report also focuses on leading industry Manufacturer with information such as company profiles, products, and services offered financial information throughout 2020 – 2023
- General Electric Co.
- Siemens AG
- Andritz AG
- Canyon Industries Inc.
- Cornell Pump Company
- Gilbert Gilkes & Gordon Ltd
- Kirloskar Brothers Limited
- Nautilus LLC
- Norcan Hydraulic Turbine Inc.
- Waterwheel Factory
- WWS-Wasserkraft GmbH
The Hydro Turbine Market Report offers an accurate financial assessment of each leading Competitor based on their business data that includes estimation of gross margin, Hydro Turbine Market sales volume, profitability, pricing erection, product value, cost structure, revenue, and growth rate.
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Summary of Hydro Turbine Market:
In 2016, an estimated 31.5 GW of hydropower capacity became operational, including pumped storage, thus increasing the total global installed hydro power capacity to 1,246 GW. The hydro turbine market is strongly driven by several factors, such as increasing demand for energy on a global scale, rise in the demand for cleaner technologies for power production, stringent emission policy targets, etc. China, the world’s largest hydro power country, in its 13th five-year plan on energy development, aims to have an additional 60 GW of hydropower by 2020. However, the market faces certain drawbacks, such as design challenges of the turbine, ecological concerns related to dams, difficulties in relocation and rehabilitation of affected stakeholders, long gestation periods, high installation cost of dams, and others. These factors may act as roadblocks for the growth of the market studied.
Global Hydro Power Capacity Addition Driving the Market
In 2016, an estimated 31.5 GW of hydropower capacity became operational, including pumped storage, bringing the total global installed hydro power capacity to 1,246 GW. This capacity addition is mainly driven by the demand for reliable, clean, and affordable power from countries that seek to meet the carbon reduction goals prescribed in the Paris Agreement. Moreover, the rapid growth of variable renewable energies (VRE) in the recent years is increasing the need for rapid-response energy storage technologies. The landscape for grid-scale energy storage is evolving, from being almost exclusively supplied by pumped-hydropower storage, to include various new technologies. Of these, battery storage is evolving and growing at a rapid pace, even as pumped hydropower storage continues to supply over 95% of energy storage requirements worldwide. In 2016, about 6.4 GW of pumped storage capacity came online, nearly twice the quantity installed in 2015. The above-mentioned factors are responsible for the growth in the global hydro-power sector. The hydro-power industry, being the biggest end user of hydro turbines, has witnessed a significant growth in the recent years. Further, the development of innovative technologies is expected to help reduce costs and improve both hydro power production efficiencies and environmental performance.
South America among the Fastest Growing Regions
With more than 9.7 GW of new hydropower installed in 2016, South America has more than tripled the capacity commissioned in 2015. This has boosted the demand for hydro turbines in the region. This robust growth can primarily be attributed to the vast water resources in the region and various hydro power projects that got commissioned in the year. For instance, Brazil completed the commissioning of the 3,750 MW Jirau project on Madeira River. Ecuador’s 1,500 MW Coca Coda Sinclair plant became fully operational in November 2016. Peru commissioned the Cerro de Águila (510 MW) and Chaglla (456 MW) projects. Colombia reached a total capacity of 11,606 MW, which represents 70% of the national electricity grid, after the commissioning of the 820 MW Hidrosogamoso hydroelectric project, and the 10 MW Bajo Tuluá in 2015 and 20 MW Tunjita stations in 2016. Further, several countries in the region have set hydro power development targets for the near future, thereby bolstering the hydro turbine market. For example, Brazil has set a target to increase its installed hydro capacity to 116,700 MW by 2020. Ecuador has plans to accomplish 86% of electricity demand to be covered by hydropower by 2020. Hydropower is key to South America’s development, and thus it is at the core of the national energy strategies of various countries, including Bolivia, Ecuador, Paraguay, Chile, and Brazil. Therefore, the ongoing surge in hydro power activities and its vast untapped hydro potential make South America a lucrative and one of the fastest growing segments of the hydro turbine market.
China Poised to Lead the Hydro Turbine Market
China alone accounts for almost one-third of the global hydropower capacity, and added approximately 11.74 GW of new capacity in 2016, including 3.74 GW of pumped storage, boosting its total installed capacity to 331 GW, including 26.7 GW of pumped storage. The most notable of China’s hydropower fleet under construction is the Wudongde project on the Jinsha River in the southwest, which will provide 10.2 GW installed capacity, when complete. The project will have 12 turbines of 850 MW installed. The project began the construction phase in 2014, with the first generator scheduled to be commissioned in 2020. It is expected to be completed in 2020, and will be the sixth-largest hydropower project in the world, in terms of installed capacity. In December 2016, China’s Ministry of Water Resources adopted ‘Guidelines on Promoting the Development of Small Hydropower Plants’, which is further expected to create opportunities for the companies engaged in the hydro turbine supply chain.
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Reasons to Purchase this Report:
The Hydro Turbine Market 2020-2023 Analysis objectives of the report are:
- To analyze Hydro Turbine Market regarding growth trends, anticipation and also their participation in the entire sector.
- To equitably share in-depth info regarding the vital elements influencing the increase of industry (growth capacity, probability, drivers and industry-specific challenges and risks).
- To know the Hydro Turbine Market by distinguishing its many sub-segments.
- To examine and study the market size (volume & value) from the company, essential regions/countries, products and application, background information from 2013 – 2020 and also prediction to 2023.
- To profile the Leading players in the industry and analyze their growth plans.
- To venture the amount and value of sub-markets, depending on key regions.
- Primary worldwide Antifouling Paints and Coatings Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis, and development plans next coming years.
- To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Hydro Turbine Market of many Hydro Turbine Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Hydro Turbine Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Hydro Turbine Market competitors.
Mr. Ajay More
Phone: +14242530807 / + 44 20 3239 8187
Email: [email protected]
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