Water Turbine Market Analysis
Water Turbine Market, by Type (Reaction Turbine, Impulse Turbine), and by Application (Aeronautics, Marine, Power generation, and others) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
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:
On the basis of application, the global water turbine market is segmented into:
Water turbine Market Outlook:
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:
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