Hydraulic Turbines Market
The market for Hydraulic Turbines was estimated at $8.3 billion in 2024; it is anticipated to increase to $12.6 billion by 2030, with projections indicating growth to around $17.7 billion by 2035.
Report Summary
Market Data
Methodology
Table of Contents
Global Hydraulic Turbines Market Outlook
Revenue, 2024
$8.3B
Forecast, 2034
$16.5B
CAGR, 2025 - 2034
7.1%
The Hydraulic Turbines industry revenue is expected to be around $8.9 billion in 2025 and expected to showcase growth with 7.1% CAGR between 2025 and 2034. The expanding market for Hydraulic turbines demonstrates their rising importance in the energy industry. The market expansion results from rising worldwide renewable energy needs and strict environmental standards and efficient power generation requirements. The ongoing importance of these turbines becomes evident through rising investments in hydroelectric power projects and the advancement of hydraulic technologies.
Hydraulic turbines function as essential elements of hydroelectric power plants because they transform water flow energy into mechanical power which becomes electricity. The turbines achieve high efficiency and durability while handling different water flow rates which makes them suitable for both big and small hydroelectric power generation systems.
Market Key Insights
- The Hydraulic Turbines market is projected to grow from $8.3 billion in 2024 to $16.5 billion in 2034. This represents a CAGR of 7.1%, reflecting rising demand across Hydroelectric Power Generation and Industrial Process.
- General Electric Company, Andritz AG, Alstom SA are among the leading players in this market, shaping its competitive landscape.
- U.S. and China are the top markets within the Hydraulic Turbines market and are expected to observe the growth CAGR of 4.6% to 6.8% between 2024 and 2030.
- Emerging markets including Vietnam, South Africa and Chile are expected to observe highest growth with CAGR ranging between 8.2% to 9.8%.
- Transition like Digital Transformation has greater influence in U.S. and China market's value chain; and is expected to add $356 million of additional value to Hydraulic Turbines industry revenue by 2030.
- The Hydraulic Turbines market is set to add $8.2 billion between 2024 and 2034, with manufacturer targeting Industrial & Marine End-Users projected to gain a larger market share.
- With Increasing demand for renewable energy, and Technological advancements in turbine designs, Hydraulic Turbines market to expand 99% between 2024 and 2034.
Opportunities in the Hydraulic Turbines
The Hydraulic turbines market also experiences growing strategic partnerships between companies. The manufacturing sector forms alliances with technology providers and research institutions to create advanced and efficient Hydraulic turbines. The market position of companies improves through these collaborations which leads to enhanced product portfolios that drive overall Hydraulic turbines market expansion.
Growth Opportunities in North America and Asia-Pacific
The hydraulic turbines market in North America grows rapidly because the region focuses on renewable energy development. The United States and Canada lead the way in hydroelectric power generation through substantial investments which drives up demand for hydraulic turbines. The market features strong competition between General Electric and Voith and other major players who lead the industry. The market presents opportunities for new companies to enter and develop innovative technologies that focus on efficiency enhancement and environmental impact minimization. The hydraulic turbines market in this region advances because of government backing for clean energy initiatives and the existing natural resource availability.
The Asia-Pacific region, led by China and India, is another major hub for the hydraulic turbines market. The emerging economies of these regions are experiencing rapid industrialization and urbanization which is driving the demand for energy and consequently hydraulic turbines. The market is competitive, with domestic manufacturers like Harbin Electric and Toshiba leading the charge. However, the vast potential of untapped hydroelectric resources in the region presents a lucrative opportunity for international players. Government initiatives towards sustainable energy and the need for rural electrification are significant drivers propelling the hydraulic turbines market in this region.
Market Dynamics and Supply Chain
01
Driver: Increasing Demand for Renewable Energy, and Government Initiatives and Policies
The worldwide push for renewable energy systems also drives up demand for hydraulic turbines in the market. The worlds pursuit of carbon footprint reduction has also led to increasing demand for renewable energy sources. The market for hydroelectric power generation components including hydraulic turbines will also experience significant growth because of this trend. The turbines transform water flow energy into mechanical power which produces electricity thus playing a vital role in renewable energy systems. Government policies and initiatives promoting the use of renewable energy are also also propelling the hydraulic turbine market. Many governments around the world are also providing incentives and subsidies to encourage the use of hydroelectric power. This has also resulted in increased investments in hydraulic turbine installations, further driving the market growth.
The market benefits from continuous advancements in hydraulic turbine technology. The development of new designs and materials enables the creation of more efficient turbines which operate effectively in various conditions. Their applications now extend from small-scale installations to large hydroelectric power plants because of these advancements.
02
Restraint: High Initial Investment
The initial cost of hydraulic turbine installation acts as a major obstacle for many potential customers. The total expense consists of turbine equipment and all necessary infrastructure to properly capture water energy. The installation process requires building dams or weirs together with powerhouses and transmission lines. The expensive initial investment creates obstacles for developing nations and small businesses which limits the expansion of the hydraulic turbines market.
03
Opportunity: Harnessing Untapped Potential in Developing Nations and Technological Innovations Driving Market Growth
The Hydraulic turbines market will experience substantial expansion in developing nations. The regions focus on sustainable energy solutions and infrastructure development creates a major untapped market for Hydraulic turbines. The countries of India Brazil and South Africa dedicate substantial funds to renewable energy projects which creates an attractive market for Hydraulic turbine manufacturers to grow their operations.
The Hydraulic turbines industry experiences a revolution through the implementation of IOT and AI advanced technologies. The implementation of these technologies allows real-time monitoring and predictive maintenance of turbines which leads to better operational efficiency and reduced downtime. The market growth of Hydraulic turbines will increase in the coming years because of their integration with these technologies.
04
Challenge: Environmental Concerns
While hydraulic turbines are a source of renewable energy, their installation and operation can have significant environmental impacts. For instance, the construction of dams for hydroelectric power can disrupt local ecosystems, displace communities, and even contribute to greenhouse gas emissions due to the decomposition of organic matter in reservoirs. These environmental concerns can limit the expansion of the hydraulic turbines market, as there is increasing pressure from governments and environmental groups to minimize these impacts.
Supply Chain Landscape
1
Raw Material Suppliers
ArcelorMittalRio Tinto Group
2
Component Manufacturers
General ElectricSiemens
3
Manufacturers
VoithAndritz Hydro
4
End User Industry
Renewable EnergyPower Generation
1
Raw Material Suppliers
ArcelorMittalRio Tinto Group
2
Component Manufacturers
General ElectricSiemens
3
Manufacturers
VoithAndritz Hydro
4
End User Industry
Renewable EnergyPower Generation
Use Cases of Hydraulic Turbines in Hydroelectric Power Generation & Industrial Process
Hydroelectric Power Generation : Hydraulic turbines play a crucial role in hydroelectric power generation. These turbines, particularly the Francis and Kaplans, are widely utilized to convert the kinetic energy of falling or flowing water into mechanical energy, which is then transformed into electrical energy through a hydro power generator. This application provides a renewable and sustainable source of power, contributing significantly to the global energy mix. Companies like General Electric and Siemens are leading players in this field, known for their advanced turbine technologies and robust market position.
Industrial Process : Industrial process applications often employ hydraulic turbines for energy recovery. Pelton turbines are commonly used in industries such as oil and gas, chemical, and mining for their high efficiency and ability to handle varying flow rates. These turbines help industries reduce their energy costs and carbon footprint. Key players in this application include Gilbert Gilkes & Gordon Ltd and Toshiba, both recognized for their high-quality industrial turbines and strong market presence.
Recent Developments
In the rapidly evolving energy sector, hydraulic turbines have emerged as a pivotal technology. These turbines, which harness the power of water to generate electricity, have seen significant advancements in recent years. The market for hydraulic turbines is growing, driven by increasing global demand for renewable energy sources and the need for efficient, cost-effective power generation solutions. One of the most notable trends in this space is the rise of small-scale Hydroturbines.
December 2024 : General Electric announced the launch of a new line of highly efficient hydraulic turbines, aiming to reduce operational costs and increase energy production in hydroelectric power plants
October 2024 : Siemens AG introduced an innovative hydraulic turbine technology that utilizes advanced materials for improved durability and performance
August 2024 : Andritz Hydro unveiled a groundbreaking project featuring their latest hydraulic turbines, designed to maximize power generation in low-head hydro power applications.
Impact of Industry Transitions on the Hydraulic Turbines Market
As a core segment of the Pumps, Motors & Valves industry,
the Hydraulic Turbines market develops in line with broader industry shifts.
Over recent years, transitions such as Digital Transformation and Shift towards Renewable Energy have redefined priorities
across the Pumps, Motors & Valves sector,
influencing how the Hydraulic Turbines market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Digital Transformation
The hydraulic turbines industry is experiencing a major digital transformation. The implementation of Industry 4.0 technologies including IOT and AI and ML has transformed the design and manufacturing and maintenance processes of hydraulic turbines. AI and ML-based predictive maintenance systems detect turbine breakdowns in advance which leads to reduced downtime and enhanced operational efficiency. Real-time data collection through IoT-enabled hydraulic turbines allows operators to optimize turbine operations and decrease energy waste by monitoring performance and efficiency metrics. The digital transformation of hydraulic turbines leads to better performance and efficiency while promoting sustainability in the energy sector.
02
Shift towards Renewable Energy
The global shift towards renewable energy is another major transition impacting the hydraulic turbines industry. As countries around the world strive to reduce their carbon footprints and combat climate change, there is a growing demand for renewable energy sources such as hydroelectric power. Hydraulic turbines, being a key component of hydroelectric power plants, are witnessing increased demand. This transition towards renewable energy is also influencing the design and manufacturing of hydraulic turbines.