Product Code: 68239
Hydro generators market is expected to grow with the rising demand for hydro energy, on account of growing focus for renewable energy.
During 2018, hydropower accounted for around 48% of the total renewable energy installed capacity and is expected to register a CAGR of more than 8% during the forecast period.
The increase in hydropower installation capacity is expected to directly impact the growth of the hydrogenator market. Hydro generators are the most important component of hydropower projects that are connected to a turbine to converts mechanical energy into electrical energy. The primary factors that drive the market are growing focus on renewable energy to reduce CO2 emissions and the growing focus on alternative fuels to achieve an imperishable form of energy.
However, factors such as high CAPEX requirements, especially in the key markets, limited economical sites, and the extra expenditure, that arise to address social and environmental impacts, are expected to hinder the market growth during the forecast period.
Large hydro generators are one of the prominent segments that are expected to grow during the forecast period, on account of rising hydropower projects for electricity in the Asia-pacific and South American regions.
During 2018, hydropower energy had its presence in almost 163 countries with certain lower and higher installed capacities, but there are some potential countries, like Indonesia, Nepal, and Uganda, that hold the potential to widen the electrification among its peoples. For instance, Indonesia has developed a strategy for hydropower development to boost its industrial growth and to reduce carbon emission by 29% by 2030. Thus, the initiatives to reduce carbon emission in these countries are expected to create opportunities in the near future.
The Asia-Pacific region is expected to continue to dominate the hydro generators market, with the highest installed hydropower capacity. China and India are the prominent countries in the region that are dominating the market with 27% and 4% of the total installed global hydropower capacity.
Key Market Trends
Large Hydro Generator as a Prominent Segment
- Large hydro generators include the generators, with capacity more than 30 megawatts, that primarily use Francis and Kaplan turbine to capture maximum energy from the flowing water to generate electricity.
- During 2018, a total of 22 GW of hydropower capacity was added, which increased the global hydropower capacity to nearly 1295 GW. The total hydropower capacity was estimated to be from the large hydro plants, that use a series of large hydro generators and backup generators for backup during any emergency scenario.
- Three Gorges Dam of China is the large hydro project in the world that has a capacity of around 22,500 megawatts (MW). The plant has a total of 34 generators, of which 32 are main generators, with 700 MW each, and rest two with a capacity of 50 MW each. During 2018, the plant generated approximately 101-terawatt hour (TWh) of electricity.
- With the rising demand for electricity around the world, a significant number of large hydropower projects are expected to come online in the coming years. Wudongde Hydropower Project in China and the Dasu hydropower project in Pakistan are few under-constructions large power plant that are estimated to have a capacity of around 10.2 GW and 4.3 GW, respectively. Both the projects are expected to get commissioned during the forecast period.
Asia-Pacific Dominating the Market
- Asia-Pacific is dominating the hydropower market, with approximately 543 GW of installed capacity as of 2018. The region held its position as the fastest-growing during 2018, with total capacity addition of around 13 GW.
- China is the dominating country in the region and around the world. It has a market share of 65%, with respect to the installed capacity in the region. During the recent year, annual capacity growth slowed down in the country due to weaker economic and reducing power demand, due to overcapacity and renewables curtailment.
- Apart from China, India and Japan are the prominent countries in the region that have a cumulative market share of around 18%, with respect to total installed capacity in the region. Mangdechhu hydroelectric project is one of the prominent under-construction hydro-project in Bhutan that is being built by India and Bhutan. The project is expected to have an installed capacity of around 720 MW by 2022.
- During 2019, the Indian government approved INR 1600 crores on pre-investment activities and various clearance for the hydropower project in Arunachal Pradesh. The project is estimated to generate 2880 MW of power from 12 units of 240 MW generators. The addition of the project is expected to help the hydro-generator market to grow during the forecast period.
The hydro generator market is consolidated. Some of the key players in the market include General Electric Company, Voith GmbH & Co. KGaA, Hitachi Mitsubishi Hydro Corporation, Toshiba America Energy Systems Corporation, Andritz AG, Nidec Industrial Solutions, OJSC Power Machines, WEG SA, Global Hydro Energy GmbH, and Siemens AG.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
- 4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
- 4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitute Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Size
- 5.1.1 Large
- 5.1.2 Small
- 5.1.3 Micro
- 5.2 Geography
- 5.2.1 North America
- 5.2.2 Asia-Pacific
- 5.2.3 Europe
- 5.2.4 South America
- 5.2.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 General Electric Company
- 6.3.2 Voith GmbH & Co. KGaA
- 6.3.3 Hitachi Mitsubishi Hydro Corporation
- 6.3.4 Toshiba America Energy Systens Corporation
- 6.3.5 Andritz AG
- 6.3.6 Nidec Industrial Solutions
- 6.3.7 OJSC Power Machines
- 6.3.8 WEG SA
- 6.3.9 Global Hydro Energy GmbH
- 6.3.10 Siemens AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS