세계의 수력 터빈 발전기 유닛 시장 : 터빈 유형별, 헤드 유형별, 용도별, 지역별, 기회, 예측(2018-2032년)

Global hydro turbine generator unit market is projected to witness a CAGR of 5.51% during the forecast period 2025-2032, growing from USD 3.81 billion in 2024 to USD 5.85 billion in 2032. The global hydro turbine generator unit market has experienced significant growth in recent years due to rising investment in hydro power energy projects and the expansion of existing power generation capacity is expected to maintain a strong pace of expansion in the coming years. Hydro turbine generator unit are used in all kind of hydro power plants as equipment that helps in the generation of clean, reliable, and sustainable electricity by converting the kinetic and potential energy of flowing or falling water into mechanical energy, and subsequently into electrical energy. Countries are looking for clean power transition sources and making efforts to combat climate change.

Several factors are involved in the growth of hydro turbine generator units market, such as increasing investments in hydropower projects, rising government and private support for the adoption of advanced hydro turbine generator units in the plants to increase the power generation capacity. The expansion of hydropower to a wider range of sites, from large-scale dams to small and micro-hydro installations in remote areas creates market opportunity for the hydro turbine generator unit market. The utility sector is recognizing the long-term benefits of hydropower, such as its low operating costs, long asset lifespans, and ability to provide grid stability and energy storage solutions, which drive the demand for hydro turbine generator units in the market.

For instance, in September 2024, the United States government decided to invest in hydroelectric power sector for modernization of existing facilities and opening of new plants through the Department of Energy (DOE). DOE will allocate up to USD 430 million to improve 293 hydroelectric energy projects across 33 states. This development highlights that the government is investing in building advance hydro power plant which drive the demand for global hydro turbine generator units in the market.

Rising Investments in New Hydropower Projects and Expansion of Existing Facilities Amplifying Market Growth

Globally, the rise in the demand for renewable energy leads to the rising investment in hydropower plants. Countries are looking for a clean energy transition, and hydropower technology remains one of the most reliable and scalable renewable sources. The development of large-scale hydropower projects drives the need for high-quality hydro turbine generator units in the market. Furthermore, the expansion of existing facilities requires an improved version and a dependable hydro turbine generator unit which could generate more renewable energy to fulfill the local needs over an extended period. In addition, the rise in government initiatives towards the development of hydropower projects contributes to the hydro turbine generator unit market growth in the coming years. Significant public and private sector investments in hydropower infrastructure are boosting the installation of new hydro turbine generator units.

For instance, in September 2024, the Union Cabinet in India decided to invest around USD 1,502 million to support the development of 31,350 MW hydropower projects to be implemented over the next eight years. This development highlights the rising investment in hydro power sector which drive the demand for hydro turbine generator unit in the market.

Furthermore, the developing countries are making substantial capital commitments to both new large-scale projects and the modernization of aging infrastructure which reflects confidence in the hydropower sector to meet growing electricity demand in the countries. Even countries striving to meet climate targets, such as net zero or low carbon emissions, lead to the growing emphasis on expanding renewable energy sources like hydro power projects. The hydropower projects assist countries in meeting renewable energy demand, along with achieving the sustainability goals, which makes the utility sector invest in the hydropower sector. The rise in focus on sustainability drives further investment in utility-scale power projects, subsequently increasing the demand for hydro turbine generator units in the market.

Adoption of Technological Advancements Equipment Creating Market Opportunities

The upcoming advancement in hydro turbine generator units design and material used in manufacturing is enhancing efficiency, reliability, and operational flexibility which is driving the adoption of advanced hydro turbine generator units in the market. The utilization of eco-friendly materials for hydro turbine generator units makes the equipment fish-friendly, and even the equipment could be operated at variable speed which makes it an attractive option, thus increasing its demand in the market. The innovative hydro turbine generator units offer low emissions, durability and long operational lifespans which making the equipment a preferred choice for sustainable energy generation, thus creating market opportunity for market growth in the forecast period. Companies are investing in the market for the modernization of existing power plant in the market which drive the demand for hydro turbine generator unit market.

For instance, in May 2025, Rio Tinto decided to invest around USD 1.2 billion to modernise Isle-Maligne hydroelectric power plant, commissioned in 1926 in Alma, Quebec, Canada. The company is targeting the old plants to increase the power generation in the market. The power plant modernisation is essential to secure the future of low-carbon aluminium production and to support in achieving the set targets. This development highlights the rising investment in hydro turbine generator units in the market.

The advanced equipment involved digital monitoring systems, automation, and artificial intelligence which are transforming the way hydropower plants operate. Innovations such as advanced materials and automation technologies provide real-time monitoring facilities, thus reducing unplanned downtime and extending the operational lifespan of turbine generator units. The improvements in hydro turbine generator units not only lower operational costs and support sustainability initiatives by minimizing emissions and environmental impacts which drive its demand in the market. Several manufacturers are involved in innovation and R&D for the development of next-generation turbine generator units which could be more efficient in power generation.

Dominance of the Francis Turbine Type Segment in the Global Market

The demand for francis turbine type is increasing in the market due to its exceptional versatility and high efficiency across a wide range of operating conditions, particularly in medium-to-high-head hydropower plants. The equipment operates efficiently in between 40 and 600 meters water heads and could be suitable for both large-scale and mid-sized hydropower projects, thus driving its demand in the market. The design of francis allows for both vertical and horizontal installations as equipment is able to convert energy up to 95%, which offers reliable and cost-effective performance for utilities seeking stable, long-term power generation, making the segment dominate in the market.

Furthermore, the improved blade designs, use of advanced composite materials, and integration of digital monitoring systems have further boosted their performance, durability, and cost-effectiveness, which makes the turbine generator units attractive for both new installations and plant refurbishments.

Asia-Pacific Dominates the Global Hydro Turbine Generator Unit Market

Asia-Pacific dominates the global hydro turbine generator unit market. There are several interrelated factors such as rising investment in clean and sustainable power generation and upcoming support policies which are contributing to the growth of hydro turbine generator units in the region. The primary driver of market growth is extensive investment in large-scale hydropower projects and the expansion of existing facilities to meet ambitious renewable energy targets, which in turn drive demand for hydro turbine generator units in the market. Moreover, the region is home to developing countries that are highly involved in rapid economic growth and urbanization, leading to high consumption of renewable energy. This results in the deployment of new hydro power plants, creating market opportunities for the hydro turbine generator unit market in the coming years.

The combination of abundant water resources, favourable government measures, and the need for energy security further accelerates market growth in this region. Additionally, the availability of economical labour and raw materials in countries like China supports localized manufacturing and export of turbine components, thus contributing to market growth.

For instance, in August 2024, China completed the Fengning pumped storage power station in Hebei province, which is one of the largest facility in the world. The plant has total installed capacity of 3.6 GW which is operated by the State Grid Corporation of China (SGCC). The final turbine unit was activated in August 2024. This development highlights the rising investment in hydropower production capacity which drive the demand for hydro turbine generator unit in the market.

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

The rise in the United States tariffs on imported energy components, including those used in renewable energy systems, lead to higher manufacturing costs for hydro turbine generator units.

Tariffs complicate international supply chains, causing delays and logistical challenges for hydro turbine generator manufacturers.

Increased rates of tariffs may prompt manufacturers and project developers to diversify sourcing, invest in new manufacturing bases outside the United States.

The volatility and unpredictability introduced by tariffs affect investor confidence and project financing. Companies and investors may delay decisions or demand higher returns to offset increased risks which could bring uncertainty in the market.

Key Players Landscape and Outlook

Players in the global 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 expanding manufacturing capabilities, entering strategic partnerships, and pursuing 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 May 2025, Andritz AG collaborated with Software Competence Center Hagenberg (SCCH) which will focus on understanding and implementing how AI techniques will support the hydraulic development of turbines at every stage of the R&D process, from the hydraulic design of turbine components to the laboratory testing of model hydraulic turbines. This development helps the company to include advancement in the equipment which will help in earning more revenue in the coming years.

Table of Contents

1. Project Scope and Definitions

2. Research Methodology

3. Impact of U.S. Tariffs

4. Executive Summary

5. Voice of Customer

• 5.1. Respondent Demographic
• 5.2. Factors Considered in Purchase Decisions
  • 5.2.1. Site-Specific Hydraulic Conditions
  • 5.2.2. Efficiency and Performance
  • 5.2.3. Reliability, Durability, and Maintenance Requirements
  • 5.2.4. Cost of Equipment

6. Global Hydro Turbine Generator Unit Market Outlook, 2018-2032F

• 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 America
    • 6.2.4.2. Europe
    • 6.2.4.3. Asia-Pacific
    • 6.2.4.4. South America
    • 6.2.4.5. Middle East and Africa
  • 6.2.5. By Company Market Share Analysis (Top 5 Companies and Others - By Value, 2024)
• 6.3. Market Map Analysis, 2024
  • 6.3.1. By Turbine Type
  • 6.3.2. By Head Type
  • 6.3.3. By Application
  • 6.3.4. By Region

7. North America Hydro Turbine Generator Unit Market Outlook, 2018-2032F*

• 7.1. Market Size Analysis & Forecast
  • 7.1.1. By Value
• 7.2. Market Share Analysis & Forecast
  • 7.2.1. By Turbine Type
    • 7.2.1.1. Pelton
    • 7.2.1.2. Francis
    • 7.2.1.3. Kaplan
    • 7.2.1.4. Others
  • 7.2.2. By Head Type
    • 7.2.2.1. High Head
    • 7.2.2.2. Medium Head
    • 7.2.2.3. Low Head
  • 7.2.3. By Application
    • 7.2.3.1. Small Hydro
    • 7.2.3.2. Medium Hydro
    • 7.2.3.3. Large Hydro
  • 7.2.4. By Country Share
    • 7.2.4.1. United States
    • 7.2.4.2. Canada
    • 7.2.4.3. Mexico
• 7.3. Country Market Assessment
  • 7.3.1. United States Hydro Turbine Generator Unit Market Outlook, 2018-2032F*
    • 7.3.1.1. Market Size Analysis & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share Analysis & Forecast
      • 7.3.1.2.1. By Turbine Type
        • 7.3.1.2.1.1. Pelton
        • 7.3.1.2.1.2. Francis
        • 7.3.1.2.1.3. Kaplan
        • 7.3.1.2.1.4. Others
      • 7.3.1.2.2. By Head Type
        • 7.3.1.2.2.1. High Head
        • 7.3.1.2.2.2. Medium Head
        • 7.3.1.2.2.3. Low Head
      • 7.3.1.2.3. By Application
        • 7.3.1.2.3.1. Small Hydro
        • 7.3.1.2.3.2. Medium Hydro
        • 7.3.1.2.3.3. Large Hydro
  • 7.3.2. Canada
  • 7.3.3. Mexico

All segments will be provided for all regions and countries covered

8. Europe Hydro Turbine Generator Unit Market Outlook, 2018-2032F

• 8.1. Germany
• 8.2. France
• 8.3. Italy
• 8.4. United Kingdom
• 8.5. Russia
• 8.6. Netherlands
• 8.7. Spain
• 8.8. Turkey
• 8.9. Poland

9. Asia-Pacific Hydro Turbine Generator Unit Market Outlook, 2018-2032F

• 9.1. India
• 9.2. China
• 9.3. Japan
• 9.4. Australia
• 9.5. Vietnam
• 9.6. South Korea
• 9.7. Indonesia
• 9.8. Philippines

10. South America Hydro Turbine Generator Unit Market Outlook, 2018-2032F

• 10.1. Brazil
• 10.2. Argentina

11. Middle East and Africa Hydro Turbine Generator Unit Market Outlook, 2018-2032F

• 11.1. Ethiopia
• 11.2. Congo
• 11.3. South Africa

12. Value Chain Analysis

13. Porter's Five Forces Analysis

14. PESTLE Analysis

15. Pricing Analysis

16. Market Dynamics

• 16.1. Market Drivers
• 16.2. Market Challenges

17. Market Trends and Developments

18. Competitive Landscape

• 18.1. Competition Matrix of Top 5 Market Leaders
• 18.2. SWOT Analysis for Top 5 Players
• 18.3. Key Players Landscape for Top 10 Market Players
  • 18.3.1. Andritz AG
    • 18.3.1.1. Company Details
    • 18.3.1.2. Key Management Personnel
    • 18.3.1.3. Products and Services
    • 18.3.1.4. Financials (As Reported)
    • 18.3.1.5. Key Market Focus and Geographical Presence
    • 18.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
  • 18.3.2. Suneco Hydro
  • 18.3.3. Harbin Electric Corporation
  • 18.3.4. Toshiba America Energy Systems Corporation
  • 18.3.5. GE Vernova Inc.
  • 18.3.6. Hitachi Mitsubishi Hydro Corporation
  • 18.3.7. Nidec ASI S.p.A.
  • 18.3.8. Chengdu Forster Technology Co., Ltd.
  • 18.3.9. Voith GmbH & Co. KGaA
  • 18.3.10. IMPSA S.A

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

19. Strategic Recommendations

20. About Us and Disclaimer