Global Hydraulic Turbine and Water Wheel Market to Gain Immensely from Government Support for Renewable Energy.

Hydropower is one of the cleanest sources of energy across the globe. With the growing shift toward renewable sources of energy such as solar energy and hydropower, the demand for hydraulic turbines and water wheels has surged. For the developing economies, hydropower is very useful as it is a cost effective, environment-friendly, and efficient source of power generation. Smaller generators can be utilized to harness hydropower, thereby reducing the dependence on major power plants and conventional sources of energy.

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Why is Europe termed as the upcoming region in the global hydraulic turbine and water wheel market?

Among the key regions in the global hydraulic turbine and water wheel market, Asia Pacific holds the top spot owing to the incentive-based support offered by governments for the usage of hydraulic turbines and water wheels.

However, Europe is anticipated to emerge as the leading region and define the future outlook of the market in the near future. In many European nations, the increased focus on renewable energy has boosted the demand for hydraulic turbines and water wheels. In Ukraine, for instance, the government is planning to double the country’s hydroelectric power output within the next decade. In Romania, the 220-MW Vidraru hydro facility is undergoing refurbishment in order to keep up with the growing demand for hydro energy for the generation of electricity.

The European Union has been funding projects for the development of advanced hydraulic turbines. For example, projects such as HYDROACTION and HYLOW are centred on the development of low cost tailor-made small hydro-turbines. In March 2007, EU leaders signed a mandate to reduce greenhouse gas emissions by 20%. As part of the mandate, a fifth of all energy consumption across Europe is expected to come from renewable resources by 2020. Such initiatives taken by the EU have propelled the growth of the hydraulic turbine and water wheel market in the region.

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What are the key factors impeding the growth of the global hydraulic turbine and water wheel market?

The restrictive design of generators is one of the major factors hindering the growth of the global hydraulic turbine and water wheel market. The design of generators is crucial in the development of torque and rotation of the turbine shaft. With better design of generators, it is easier to gain more efficient power generation rates.

According to the International Energy Agency, small-scale hydro schemes have a comparatively localized and modest impact on the environment. The negative socio-economic impacts of large hydropower projects on the surrounding environment are expected to hamper the growth of the global hydraulic turbine and water wheel market.

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