A turbine is an engine that captures energy from fluid flow. Turbines consist of a moving part also known as the rotor assembly, which is a drum or a shaft with blades attached to it. The rotors are powered by water coming in contact with the blades, thereby forming rotational energy. Water turbines help in the generation of hydroelectric power by converting the kinetic energy of flowing water into mechanical energy with the help of the attached blades.

The growing population and urbanization have compelled the governments to increase the power generation capacity. The augmenting demand for power across the globe, increased carbon footprint, and global warming has encouraged the focus towards renewable sources of power generation. The shift towards unconventional sources of power generation is one of the major factors driving the growth of water turbines market. Moreover, the artic regions experience harsh winters and to cope up with their power requirement the power producers are compelled to resort to expensive sources of power generation making it necessary for these regions to shift towards renewable sources. Stringent government regulations to control emissions has further boosted the global market for water turbines. However, high installation cost and design challenges of turbines are major factors hindering the growth of the water turbines market currently.

Water Turbine Market Taxonomy:

On the basis of type, the global water turbine market is segmented into:

  • Reaction Turbines
  • Gorglow turbine
  • Tyson turbine
  • Kaplan turbine
  • Francis turbine
  • Others
  • Impulse turbine
  • Water wheel
  • Pelton wheel
  • Turgo turbine
  • Cross-flow turbine
  • Jonval turbine
  • Screw turbine
  • Reverse turbine

Barkh turbine

On the basis of application, the global water turbine market is segmented into:

  • Aeronautics
  • Marine
  • Power storage
  • Power generation
  • Others

Water turbine Market Outlook:

  • Increasing rate of population in economies and the rapid industrialization are some of the major drivers of the growth of water turbine market in Asia Pacific. The need for renewable sources of energy is a major contributing factor in agriculture-driven economies of India and Bangladesh. As per the 12th Five Year plan, India is expecting to increase its capacity addition to 88.5 GW by the end of 2017, out of which 10.8 GW is expected to be added in hydrogenation. Renewable energy is emerging as a source of power generation in emerging economies of the region thereby propelling the demand for water turbines. The government of emerging economies in Asia Pacific are taking initiatives to shift to renewable energy. For instance, India has de-licensed the electrical machinery industry, thereby allowing 100% Foreign Direct Investment. India received US$ 1.77 billion In FDI from April 2014 to September 2016.
  • Europe is expected to show considerable demand for water turbines over the forecast period. Growing population and awareness among population regarding increasing carbon footprint has resulted in the shift to un-conventional sources of power generation, in turn fuelling the demand for water turbines market. In 2015, the United Nations Sustainable Development goals and the United Nation Framework Convention on Climate Change (UNFCCC) have agreed to reduce greenhouse emissions, in order to reduce global warming. This has further propelled the growth of hydropower sector in the Europe, thereby positively affecting the growth of water turbine market.
  • North American market for water turbines is expected to grow substantially over the forecast period due to rising demand from the hydropower and marine industries. Increased government regulations and encouragement for unconventional sources of power generation have shown a positive impact on the growth of the water turbine market in the region. The federal regulatory reforms were altered post-2013 relaxing the licensing policy in the U.S typically for the non-powered dams (NPD’s), which has propelled the need for water turbines.

General Electric, Alterra Power Corporation, Energy Development Corporation, Canyon Industries inc., Gilbert Gikes & Gordon Ltd, and Sumitomo Corporation, are some of the major players operating in the global water turbine market.

Water Turbine Market Key Developments:

  • On 30th June 2017, General Renewable Energy (General Electric) partnered with Cube Hydro to provide three aerating turbines to Cube Hydro Partners for their High Rock plant in North Carolina. This will be operational from spring 2019. This partnership was signed to increase the company’s presence in the U.S.
  • On 25th August 2018, Gilbert Gilkes & Gordon Ltd’s four Francis turbines were installed in the Ghuilbinn Hydro Power Station, located in the Corrour Estate (East Lochaber with the Scottish Highlands). Each of these turbines have a capacity of 666kW and produce more electrical output than all other three schemes combined. This installation helped the company in gaining a prominent position in the European water turbine market.
  • In February 2018, Innergex acquired Alterra Power for US$ 1.1 billion. This is Innergex’s one of the largest acquisition which increased the company’s total capacity to 1,609 MW, and further helped the company in accelerating its growth.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
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  • System Integrators
  • Distributors
  • End-users