Selbyville, Delaware, June 19, 2019 (GLOBE NEWSWIRE) --

U.S. hydropower turbine market is anticipated to exceed 7 MW by 2025. Rising investments toward renovation and upgradation of existing hydroelectric facilities along with growing awareness about the benefit of renewable technologies will boost the product demand.

Ethiopia market is expected to expand over 15% by 2025. Regulator’s efforts to diversify the renewable energy mix along with increasing demand for electricity will augment the industry outlook. For instance, Sustainable Energy Fund for Africa has funded USD 995 thousand, in 2019 to promote the private investments into hydropower projects.

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China hydropower turbine market is predicted to grow over 6% by 2025. Strict norms to minimize carbon emissions along with technological innovations in turbine design to optimize efficiency will boost the product demand. For instance, in 2018, National Development & Reform Commission of China set target to fulfil at least 35% of its electricity consumption through renewable resources by 2030.

Global Hydropower Turbine Market is poised to cross USD 2 Billion by 2025, as reported in the latest study by Global Market Insights, Inc. Growing efforts toward development of renewable technologies to ease reliance on conventional power generation systems will propel the hydropower turbine industry size. For instance, the Department of Energy, in April 2019, proclaimed to fund USD 54.2 million to support the development of marine, hydropower and wind energy. Volatility in fossil fuel prices along with increasing focus toward energy security will further complement the business landscape.

Introduction of stringent regulations to minimize carbon emissions coupled with exponentially increasing electricity demand from manufacturing sectors will drive the market share. As per the recent study conducted by IEA, it has been analyzed that the global electricity consumption has reached 22,015 TWh in 2017 from 6,799 TWh in 1980. Moreover, ongoing investment toward decommissioning of coal fired power generating stations will further enhance the product adoption.

Browse key industry insights spread across 459 pages with 1130 market data tables & 27 figures & charts from the report, “Hydropower Turbine Market Size By Power Rating (≤1 MW, 1 - 10 MW, >10 MW), By Product (Impulse {By Power Rating [≤1 MW, 1 - 10 MW, >10 MW ], By Head Length [ 2-25 m, 25-70 m, >70 m], By Product [Pelton, Turgo, Cross Flow, Archimedean Screw]}, Reaction {By Power Rating [≤1 MW, 1 - 10 MW, >10 MW ], By Head Length [ 2-25 m, 25-70m, >70 m], By Product [Propeller (Bulb, Straflo, Tube, Kaplan), Francis, Kinetic]}), By Head Length ( 2-25 m, 25-70 m, >70 m ),Regional Outlook (U.S., Canada, Mexico, France, Italy, Spain, Austria, Norway, China, India, Philippines, Japan, Vietnam, Mozambique, Angola, Ethiopia, Brazil), Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:   

https://www.gminsights.com/industry-analysis/hydropower-turbine-market

Reaction installation accounted for over 70% of global hydropower turbine market share in 2018. The product finds wide application in small and medium scale power plant owing to its higher efficiency features. Growing energy demand across developing nations coupled with abundant potential of run of river hydropower resources are key indispensable parameters driving the adoption over alternate technologies.

Low head segment in 2018, contributed over 35% of global hydropower turbine market share. Minimal environmental & ecological complications and low construction & maintenance cost are some of key underlined parameters which will enhance the product adoption.

 >10 MW hydropower turbine market will witness growth due to rising concerns pertaining to security of supply along with increasing efforts to sustain peak load demand. Less O&M cost, enhanced efficiency and longer life span are few parameters positively influencing the industry landscape.

Major participants across hydropower turbine industry are Cornell Pump, Canyon Hydro, Canadian Hydro Components, Andritz, NTN Corporation, Flovel energy, WWS Wasserkraft GmbH, Voith, IMPSA, Wartsila, Capstone Turbine, Kirloskar Brothers, Toshiba, Siemens AG and General Electric.

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