인도의 수력 터빈 발전기 유닛 시장 : 터빈 유형별, 헤드 유형별, 용도별, 지역별, 기회, 예측(2019-2033년)

India hydro turbine generator unit market is projected to witness a CAGR of 7.09% during the forecast period FY2026- FY2033F, growing from USD 222.89 million in FY2025 to USD 385.54 million in FY2033. India hydro turbine generator unit market has experienced significant growth in recent years due to rising country's ambitious energy transition goals and a boost in the demand for renewable energy in different sectors is expected to maintain a strong pace of expansion in the coming years. The country is looking to increase renewable energy production without impacting the environment, which is driving the investment in the hydropower plant. The hydropower plant sector has proven its scalability and operates at low or no emissions which makes the sector a great choice for the country, thus creating the demand for the hydro turbine generator unit in the market. Similarly, the rising investments in both large-scale and small hydropower projects are creating the opportunity for the hydro turbine generator unit market in the forecast period.

Furthermore, the Indian Government is coming up with support policies and initiatives which is streamline the project approvals which making hydropower projects a more attractive option for the utility sector in the country. In addition, the utility sector prioritises the modernisation and upgradation of existing plants which further boosts demand for advanced hydro turbine generator units in the market. Overall, with a robust project pipeline and strong policy framework and rising emphasis on hydro energy, poised for sustained market growth and offering considerable opportunities in the forecast period.

For instance, in November 2024, the Indian government has approved the construction of two hydropower projects in the northeast, totalling 426 MW and an investment of USD 437.6 million. These infrastructures will generate 1.8 billion units of energy and support the energy transition. This development highlights the rising investment in hydro power projects which drives the demand for hydro turbine generator unit in the market.

Rising Investment in Reliable Power Generation Source Augmenting Market Growth

India considers a hydro power generation plant a reliable power source for the country. As the country is facing rapid urbanization, industrialization, also with population growth, which results in high demand for renewable energy. The Indian government and private utility sector are prioritizing hydropower as a cornerstone of the national energy strategy, as technology has proven to be reliable and scalability. A hydropower plant has the ability to provide renewable energy at baseload and peaking power situations through the energy stored in pumped hydro projects, which makes the technology an indispensable component for India's transition to a cleaner energy mix.

For instance, in October 2024, Kundan Green Energy decided to invest USD 119 million in renewable energy projects and to expand its portfolio by 2028. The expansion strategy includes integrating advanced pumped storage systems into upcoming hydropower projects. These projects are crucial for stabilising the grid and managing the variability of renewable energy. This development highlights that utility companies are investing in hydro power generation which drives the demand for hydro turbine generator unit in the market.

In addition, the country is increasing its commitment to increase the use of renewables in its energy mix to reduce dependence on fossil fuels and lower greenhouse gas emissions which leads to a rise in the investment in hydropower plants, thus driving the demand for the hydro turbine generator unit market. Growing awareness of climate change and the need to reduce environmental pollution are pushing the investment in hydro power projects in remote locations which boosts the demand for hydro turbine generator units in the market. The investments are directly utilized in the deployment of new large-scale and small hydropower projects and also utilized in the modernization and digital upgrade of existing plants to ensure higher production of renewable energy in the country. Therefore, the rising investments in hydro power projects are driving robust demand for advanced hydro turbine generator units in the market.

Rise in Government Initiatives and Favourable Regulatory Frameworks Creating Market Opportunities

The upcoming government initiatives, subsidies, concessional loans, and renewable purchase obligations are encouraging investment in hydropower plants thus, driving the demand for advanced hydro turbine generator units in the coming years. The expansion of hydropower capacity is further supported by favourable regulatory frameworks, incentives such as the Hydro Power Purchase Obligations (HPO), and dedicated schemes to promote manufacturing and project development in the sector. Moreover, the country has diverse river systems and favourable geography provide significant untapped hydropower potential which may result in the construction of new projects, thus expanding the installed base of hydro turbine generator units across the country.

Even the government is looking to make the regulatory frameworks favourable for the utility companies which would assist in easy expansion of hydro plants in various locations, thus creating the market opportunity for the hydro turbine generator units in the market. Preferential tariffs, exemptions from certain environmental clearances, and competitive bidding guidelines for stored energy procurement further lower entry barriers and attract a broader range of developers and investors in the country to invest in the hydro power sector which thereby boosting the demand for the hydro turbine generator units in the forecast period.

For instance, in May 2025, The Ministry of New and Renewable Energy (MNRE) issued revised guidelines for small hydro power (SHP) schemes. The schemes provide subsidies for setting up of the small hydro power plant. The revised guidelines apply to all SHP projects sanctioned under the previous schemes and aim to address ongoing sectoral challenges faced by the stakeholders. For the release of the balance central financial assistance (CFA), projects must achieve at least 80 percent of the projected power generation for any corresponding month, as per the detailed project report (DPR). If not, the second instalment of CFA will be proportionally reduced. This development highlights that the government is pushing to produce hydroelectric energy in plants, which drives the demand for hydro turbine generator units in the market.

Dominance of the Francis Turbine Type Segment in the India Market

The demand for francis turbine type is increasing in the market due to the exceptional versatility and suitability features that the turbine has shown over the past years. The francis turbine could be utilized across a wide range of water heads, making it ideal for both high-head Himalayan projects and medium-head installations in plateau and hilly regions. The adaptability feature of francis turbine is playing a crucial role in its growth in the market. The turbine has a robust design and high energy conversion efficiency, which drives its demand in the market. The utility sector is utilizing the turbine to maintain the grid stability and fulfil the rising demand for renewable energy in a fast-growing economy.

Furthermore, the Indian government's focus on renewable energy sector and doing strong push in uplifting the investment in the hydro power negation sector. The substantial investments in hydropower infrastructure will lead to the construction of new large and medium hydroelectric projects thus driving the demand for francis turbines in the market. Further, the technological advancements, such as improved materials and digital monitoring, have further enhanced their durability and operational lifespan of francis turbines, thus creating the opportunity for the growth of turbines in the forecast period. Francis turbine's ability to maximize the country's hydropower potential while supporting environmental goals ensures its growing demand and significant role in India's hydroelectric sector.

North Region Dominates the India Hydro Turbine Generator Unit Market

The north region of India has abundant hydropower potential due to presence of perennial rivers and steep gradients of the Himalayan states which boost the investment in the hydropower sector, thereby driving the demand for hydro turbine generator units in the market. The presence of water sources is the ideal location for the construction of large-scale and small hydropower projects, which steadily require advanced hydro turbine generator units.

For instance, in January 2025, Himachal Pradesh Chief Minister ordered to State Government to set a target of opening 22 new hydropower projects with a total capacity of 828 MW. The projects, ranging from 6.5 MW to 400 MW, are located across the districts of Kullu, Chamba, Kinnaur, Lahaul-Spiti, and Shimla. The largest allocation, comprising nine projects with a total capacity of 595 MW is planned for the Chenab river basin. Additionally, eight projects totalling 169 MW are earmarked for the Sutlej river basin, four projects with a combined capacity of 55 MW for the Ravi basin and one project with a capacity of 9 MW for the Beas basin. This development highlights the rising investment in hydro power plants which drive the demand for hydro turbine generator unit in the market.

Even the government is making a strong policy push by introducing favourable regulations and financial support, which could accelerate the development and modernization of hydropower infrastructure in this region, further boosting demand for hydro turbine generator units in the market. In addition, public sector enterprises and private players, are actively commissioning new projects and upgrading existing ones to meet the surging electricity needs and to enhance grid stability. As a result, the northern region has become the primary hub for hydropower expansion in India, ensuring robust and sustained growth for the hydro turbine generator unit market.

Impact of the United States Tariffs on India Hydro Turbine Generator Unit Market

The imposition of a 26% tariff by the United States on most Indian imports, including hydro turbine generators, significantly raises the landed cost of Indian products in the United States market.

Higher tariffs can lead to a decline in demand for Indian hydro turbine generators in the United States, as American buyers may shift to alternative suppliers with lower or no tariff barriers.

Despite the tariff, India faces lower rates (26%) compared to China (up to 54%) and Vietnam (46%), offering a relative advantage that could help Indian exporters retain or even expand their United States market share.

The Indian government and industry are exploring strategies such as negotiating trade agreements, pivoting to less tariff-affected components, and leveraging export promotion schemes to mitigate the impact.

Key Players Landscape and Outlook

Players in the India hydro turbine generator unit market are making strategic moves to boost revenue and market share by investing heavily in research and development to enhance turbine efficiency, digitalization, and sustainability. Companies are looking to expand manufacturing capabilities, enter strategic partnerships, and pursue mergers and acquisitions to broaden their geographic reach and product portfolio. Additionally, companies focus on retrofitting and modernizing existing hydropower plants, offering comprehensive after-sales services, and targeting emerging markets with untapped hydropower potential. Such multi-faceted strategies ensure companies to remain competitive and capitalize on the growing global demand for clean, reliable energy solutions.

For instance, in June 2025, Andritz Hydro Private Limited received the order from Adani Green Energy Limited for the delivery of supply pump turbines, motor generators, and related electromechanical equipment, which will be utilized in the new Tarali pumped storage plant in the Satara district of Maharashtra, India. This development helped the company in increasing its revenue in the market.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Impact of U.S. Tariff

4. Executive Summary

5. Voice of Customer

• 5.1. Factors Considered in Purchase Decisions
  • 5.1.1. Site-Specific Hydraulic Conditions
  • 5.1.2. Efficiency and Performance
  • 5.1.3. Reliability, Durability, and Maintenance Requirements
  • 5.1.4. Cost of Equipment

6. India Hydro Turbine Generator Unit Market Outlook, FY2019-FY2033F

• 6.1. Market Size Analysis & Forecast
  • 6.1.1. By Value
• 6.2. Market Share Analysis & Forecast
  • 6.2.1. By Turbine Type
    • 6.2.1.1. Pelton
    • 6.2.1.2. Francis
    • 6.2.1.3. Kaplan
    • 6.2.1.4. Others
  • 6.2.2. By Head Type
    • 6.2.2.1. High Head
    • 6.2.2.2. Medium Head
    • 6.2.2.3. Low Head
  • 6.2.3. By Application
    • 6.2.3.1. Small Hydro
    • 6.2.3.2. Medium Hydro
    • 6.2.3.3. Large Hydro
  • 6.2.4. By Region
    • 6.2.4.1. North
    • 6.2.4.2. South
    • 6.2.4.3. East
    • 6.2.4.4. West and Central
  • 6.2.5. By Company Market Share Analysis (Top 5 Companies and Others - By Value, FY2025)
• 6.3. Market Map Analysis, FY2025
  • 6.3.1. By Turbine Type
  • 6.3.2. By Head Type
  • 6.3.3. By Application
  • 6.3.4. By Region

7. Value Chain Analysis

8. Porter's Five Forces Analysis

9. PESTLE Analysis

10. Pricing Analysis

11. Market Dynamics

• 11.1. Market Drivers
• 11.2. Market Challenges

12. Market Trends and Developments

13. Policies and Regulatory Landscape

14. Competitive Landscape

• 14.1. Competition Matrix of Top 5 Market Leaders
• 14.2. SWOT Analysis for Top 5 Players
• 14.3. Key Players Landscape for Top 9 Market Players
  • 14.3.1. Bharat Heavy Electricals Limited
    • 14.3.1.1. Company Details
    • 14.3.1.2. Key Management Personnel
    • 14.3.1.3. Products and Services
    • 14.3.1.4. Financials (As Reported)
    • 14.3.1.5. Key Market Focus and Geographical Presence
    • 14.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 14.3.2. Toshiba India Private Limited
  • 14.3.3. Andritz Hydro Private Limited
  • 14.3.4. GE Vernova T&D India Limited.
  • 14.3.5. Voith Hydro Private Limited
  • 14.3.6. Gogoal Hydro Private Limited
  • 14.3.7. Jyoti Limited.
  • 14.3.8. Prakruti Renewable Power Private Limited
  • 14.3.9. B fouress Private Limited.

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

15. Strategic Recommendations

16. About Us and Disclaimer