Europe Hydro Turbine Market - Growth, Trends, and Forecasts (2020 - 2025)

The market is segmented by Technology (Reaction and Impulse), Capacity (Small (Less than 10MW), Medium (10MW - 100MW), and Large (Greater than 100MW)), Geography (Germany, United Kingdom, Norway, Italy, and Rest of Europe)

Market Snapshot

Study Period:

2018-2025

Base Year:

2019

CAGR:

4.5 %

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Market Overview

The European hydro turbine market is expected to grow at a CAGR of more than 4.5% over the period of 2020-2025. Factors such as increasing demand for energy, a rise in the need for cleaner technologies for power production, and stringent emission policy targets are likely to drive the hydro turbine market. Moreover, hydropower is the world’s largest source of renewable electricity generation, and with new hydropower projects sanctioned, the demand for hydro turbines is expected to increase. However, certain drawbacks, such as design challenges of the turbine, ecological concerns related to dams, long gestation periods, and high installation cost of dams are hampering the growth of the studied market.

  • Reaction turbine segment, by technology, is expected to be the largest market during the forecast period, owing to increased use of reaction turbine types such as Francis turbine and Kaplan turbines.
  • The rising requirement for renewable energy in emerging economies is anticipated to create a good growth opportunity for hydro turbine manufacturers. Emerging markets offer a potentially strong growth opportunity for renewable energy in the next few years.
  • The European countries with the largest installed hydropower capacity are Norway followed by France, Italy, Spain, Sweden, Switzerland and Germany.

Scope of the report

The Europe hydro market report include:

Technology
Reaction
Impulse
Capacity
Small (Less than 10MW)
Medium (10MW - 100MW)
Large (Greater than 100MW)
Geography
Germay
United Kingdom
Norway
Italy
Rest of Europe

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Key Market Trends

Reaction Turbine to Dominate the Market

  • A reaction turbine develops power from the combined action of pressure and moving water. These turbines are used to generate maximum power output from a low available water head and high velocities. Almost 65% of turbines used in hydropower plants are reaction turbines.
  • Francis turbines are from the reaction turbine class of hydro turbines and are the most widely used turbines in hydropower plants. As of 2019, almost 55% of the turbines installed are Francis turbines, 42% were Kaplan and the remaining 3% were composed of Pelton units or Other turbine types.
  • however, if the European Union (EU27) countries are taken as a unit, their combined PSH fleet (47 GW) is the largest in the world.
  • In Europe, non-hydropower renewables surpassed installed hydropower capacity between 2005 and 2017. Europe is also the region with the largest PSH fraction in its fuel mix, it hovered around 5% in 2017.

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Norway to Dominate the Market

  • In Europe, large hydropower projects with a total capacity of 3.1 GW have started operating in Norway and Portugal since 2000. In Norway, municipalities own and operate 55% of the hydropower fleet and as much as 90% is publicly owned (Saha and Idso, 2016).
  • In 2016 alone, Norway commissioned 35 new hydropower stations. Totalling 154MW of capacity, these are all small projects.
  • In 2019, Norway is also working on building interconnectors with the UK and Germany. This will allow Norway to export even more excess electricity production than it currently does. In 2016 it exported 16.5TWh – roughly 10 per cent of total domestic production.
  • Norway through its government-owned company SN Power is another example of a country investing in hydropower development in multiple world regions.

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Competitive Landscape

The Europe hydro turbine market is moderately fragmented. Some of the key players in this market include General Electric Company, Andritz AG, Litostroj Power Group, Siemens AG, Voith GmbH & Co. KGaA.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Technology

      1. 5.1.1 Reaction

      2. 5.1.2 Impulse

    2. 5.2 Capacity

      1. 5.2.1 Small (Less than 10MW)

      2. 5.2.2 Medium (10MW - 100MW)

      3. 5.2.3 Large (Greater than 100MW)

    3. 5.3 Geography

      1. 5.3.1 Germay

      2. 5.3.2 United Kingdom

      3. 5.3.3 Norway

      4. 5.3.4 Italy

      5. 5.3.5 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 General Electric Company

      2. 6.3.2 Andritz AG

      3. 6.3.3 Litostroj Power Group

      4. 6.3.4 Siemens AG

      5. 6.3.5 Voith GmbH & Co. KGaA

      6. 6.3.6 Kirloskar Brothers Ltd

      7. 6.3.7 Canadian Hydro Components Ltd.

      8. 6.3.8 Norcan Hydraulic Turbine Inc.

      9. 6.3.9 Toshiba Energy

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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