Water Turbine Market | General Electric, Alterra Power Corporation, Energy Development Corporation

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.

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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

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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.

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