New York, NY, May 07, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Hydraulic Turbines Market by Design (Impulse Turbine and Reaction Turbine), by Capacity (Less Than 1000 kW, Between 1000 - 10000 kW, and More Than 10000 kW), and by Application (Marine, Oil & Gas, Power Storage & Generation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global hydraulic turbines market was approximately USD 3 billion in 2018 and is expected to generate around USD 5 billion by 2025, at a CAGR of around 4.5% between 2019 and 2025.
Hydro turbines are utilized in hydroelectric generation plants for electricity generation. Mainly, water is used for electricity generation. The hydraulic turbines spin or rotate as a reaction to water being introduced to the turbine blades. Hydraulic turbines are vital in the field of hydropower electricity generation. The global hydraulic turbines market is likely to experience notable growth in the future, owing to the high demand for renewable forms of energy. Due to stringent government rules and regulations regarding carbon emissions, the demand for renewable energy is gradually increasing. Electricity generation from hydraulic turbines is a renewable and sustainable energy form, which is primarily driving this market’s development in the present scenario. Furthermore, the rising electricity demand by the growing population is also projected to escalate global hydraulic turbines market growth. In order to cater to the growing electricity demand, various organizations and key players are gradually switching from coal to renewable energy sources for electricity generation. This, in turn, is estimated to drive the hydraulic turbine market in the upcoming years globally.
Browse through 42 Tables & 21 Figures spread over 110 Pages and in-depth TOC on “Global Hydraulic Turbine Market Size, Industry trends, Market Share Analysis and Forecast, 2018–2025”.
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Based on design, the global hydraulic turbines market is segmented into impulse turbine and reaction turbine. Impulse turbines are expected to dominate the global market, due to its use in large underwater surfaces.
On the basis of capacity, the market is categorized into less than 1000 kW, between 1000 kW to 10000 kW and more than 10000 kW. The 10000 kW segment is expected to dominate the global market, as these turbines generate more electricity in comparison to other turbines.
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On the basis of application, the market is bifurcated into marine, oil and gas, power generation and storage, and others. The oil and gas segment is anticipated to dominate the global hydraulic turbines market in the future, owing to the increasing number of oil and gas exploration activities in the Gulf regions.
North America holds an extensive market share of the global hydraulic turbines market, owing to the rising adoption rate of renewable energy resources due to favorable government policies. The scarcity of non-renewable energy resources has forced several regulatory organizations and civic bodies to start adopting renewable energy resources, which is the primary growth factor for this regional market. Moreover, stringent regulations regarding carbon emissions and rising air pollution are projected to further drive the region’s adoption rate of renewable energy resources.
Browse the full “Hydraulic Turbines Market by Design (Impulse Turbine and Reaction Turbine), by Capacity (Less Than 1000 kW, Between 1000 - 10000 kW, and More Than 10000 kW), and by Application (Marine, Oil & Gas, Power Storage & Generation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/hydraulic-turbine-market
The Asia Pacific region is forecasted to be the fastest growing market for hydraulic turbines globally in the years ahead. This regional growth can be mainly attributed to the rising electricity demand from the growing population base across the region.
Europe is expected to show modest development in the global hydraulic turbines market. The region’s electricity generation scenario is changing significantly. The EU’s integrated energy and climate change policy sets the ambitious target of producing 25% of its energy from renewable sources by 2025. This is primarily driving the European hydraulic turbines market currently.
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Some key industry players operating in the global hydraulic turbines market include International Aero Engines, GE Energy, Vestas Wind Systems A/S, Urban Green Energy, Siemens Wind Power, Suzlon Energy Limited, and Enercon GmbH.
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This report segments the global hydraulic turbines market as follows:
Global Hydraulic Turbines Market: Design Analysis
- Impulse Turbine
- Reaction Turbine
Global Hydraulic Turbines Market: Capacity Analysis
- Less Than 1000 kW
- Between 1000 - 10000 kW
- More Than 10000 kW
Global Hydraulic Turbines Market: Application Analysis
- Marine
- Oil and Gas
- Power Storage and Generation
- Others
Global Hydraulic Turbines Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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