Major Growth in Hydro-turbine market stats and analysis

As in this current time when resources of every country are on red alert. Every country has started finding a renewable source alternative to take place of their non- renewable one. Like currently Hydro-Turbines are really playing a lead role in the queue of all renewable resources for generating electricity.

And currently, hydropower is greatest source available for the generation of renewable electricity witch ranges around 15.9% of total world electricity produced as per reports in 2018.

Due to this reason global Hydro-turbine market will experience an approximate growth at a compound annual growth rate (CAGR) of 2.5 % during 2020-25. But yes some of the drawbacks can also hit the expected growth of Hydro turbine generators.

Major Growth in Hydro-turbine market stats and analysis
Major Growth in Hydro-turbine market stats and analysis

Some of the drawbacks are Ecological alarm related to the dam, Installation cost, and weather problems during the installation period, designing of the turbine depends on what kind of water flow it has to face in the future.

Asia is currently the largest and in future it may became even fastest growing market, having highest annual increase in hydro power during 2018 and most probably this pace will be continued in future.

As per the current market trend, most probably Reaction turbine will mainly dominate over the market of hydro-turbines.

  • Reaction turbines can develop power from both actions of pressure as well as the flow of water. Due to this reason, these turbines generate maximum power output even from a low available water head and high velocities.
  • Francis turbines exist in the class of reaction turbines and it is the most preferred facility of the United States in Hydro-turbines.
  • Asia Pacific market is going to be the fastest-growing region overall with major demands from India and China. The Asia Pacific currently accounts for around 41 percent of global demand.
  • In May 2018, the Government of India started working on the 1000 MW Pakal Dul hydroelectric plant project and also the 330 MW Krishnaganga hydroelectric power plant project in Jammu-Kashmir.
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