Press release
Water turbines Market to Surge at a Robust Pace in Terms of Revenue Over 2025
The Water turbines market is sturdily driven by numerous factors such as strict regulations regarding emission policy increasing awareness for new technologies for power generations at low cost, growing demand for energy at the global level, etc. Demand from Hydroelectric Power Generation Stations as well as Marine Industry is expected to drive the water turbines market during the forecast period. Additionally, increasing durability, efficiency, long product life, less maintenance, and effective work are some factors which are driving the demand for the water turbines.
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However, some factors such as high cost of installing a dam, low product replacement rate, long incubation period, ecological concern linked with manufacturing of dams, can be considered as restraints to the market of water turbines. Furthermore, long start-up time, low efficiency when operating at futile speed, etc. are some more factors, which are restraining the demand for the water turbines. A most common trend is that emphasis on designing of efficient prototypes offering high torque at optimal input.
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Water turbines Market: Regional Outlook
Asia-Pacific region occupies comparatively large market share, in terms of volume, followed by Europe and North America. Asia-Pacific region is anticipated to hold approximately 40% of the overall market and will grow with comparatively high growth rate. China is leading the market of Asia-Pacific with almost half of the total market share holds by the region, owing to the increasing hydro power generation in the country.
Similarly, Spain and France is estimated to holds the one-third share of the total market share of the Europe region and expected to grow at significant growth rate due to the numerous opportunities created by the regional market potential. However, Latin America and The Middle East and Africa, both the regions are expected to project a stagnant rate of growth over the period of forecast.
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Water turbines Market: Market Participants
Examples of some of the market participants in the Water turbines market identified across the value chain are GE Renewable Energy, Hydro-Québec, Kirloskar Brothers Limited, Obermeyer Hydro, Inc., MITSUBISHI HEAVY INDUSTRIES, LTD., OSSBERGER GmbH + Co, Canyon Industries, Inc., WWS wasserkraft GmbH & Co KG, Voith GmbH, Nautilus LLC, Meggitt SA, GENERAL ELECTRIC, ANDRITZ, etc.
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