Water Turbine Market By Product Type (Pelton Turbines, Francis Turbines, Kaplan Turbines, Crossflow Turbines), By Application (Hydropower Generation, Water Pumping, Water Treatment, Marine Propulsion), By End-User Industry (Power Generation, Industrial Manufacturing, Water Treatment Plants, Municipal Utilities, Marine & Shipping), By Installation Location (Onshore Water Turbines, Offshore Water Turbines), and By Region; Global Insights & Forecast (2023 - 2030)

As per Intent Market Research, the Water Turbine Market was valued at USD 3.2 billion in 2024-e and will surpass USD 4.4 billion by 2030; growing at a CAGR of 5.4% during 2025 - 2030.

The water turbine market is crucial in the renewable energy sector, especially for hydropower generation, water pumping, and marine propulsion applications. Water turbines transform the kinetic energy of flowing or falling water into mechanical energy, which is then converted into electrical energy. With increasing global demand for clean and sustainable energy sources, the market for water turbines has witnessed significant growth. This growth is primarily driven by the rising adoption of renewable energy sources and an increase in the development of hydropower plants worldwide. The market is diverse, with various turbine types, applications, and end-user industries contributing to its expansion.

Pelton Turbines Segment Is Largest Owing to Its High-Efficiency in High-Head Conditions

Pelton turbines are the largest segment in the water turbine market, especially for high-head applications. These turbines are designed to handle high-pressure water flows, making them ideal for locations with significant elevation differences, such as mountainous areas. The efficiency of Pelton turbines in high-head conditions has made them a preferred choice for large hydropower plants. These turbines operate with high efficiency, converting the potential energy of water into mechanical energy at a very low rate of losses. As global investments in hydropower projects increase, especially in regions with suitable terrain, the demand for Pelton turbines is expected to remain robust.

Pelton turbines offer several advantages, such as their ability to withstand high pressures and their simple, rugged construction. In addition, they are well-suited for projects where water flows vary, ensuring stable energy production even in fluctuating conditions. As governments and private players look to expand their renewable energy portfolios, Pelton turbines continue to dominate the high-head hydropower segment, providing reliable and cost-effective energy solutions.

Hydropower Generation Application Is Fastest Growing Due to Renewable Energy Demand

Hydropower generation is the fastest-growing application in the water turbine market, driven by the global shift toward renewable energy. With increasing pressure to reduce carbon emissions and reliance on fossil fuels, hydropower has become a key player in the renewable energy transition. The demand for hydropower generation is particularly strong in regions such as Asia-Pacific, where countries like China and India are ramping up investments in hydropower infrastructure. Water turbines, especially those used in hydropower generation, are crucial in harnessing the energy from flowing water to produce electricity.

Hydropower generation offers several benefits, including reliable, renewable, and clean energy, which is increasingly important to meet global energy needs. As countries focus on energy sustainability and carbon reduction, hydropower projects are receiving more attention and investment. This trend is expected to continue, with water turbines playing a vital role in enabling the growth of hydropower generation across the world.

Power Generation End-User Industry Is Largest Due to Growing Renewable Energy Projects

The power generation industry remains the largest end-user segment in the water turbine market. Water turbines are essential for converting hydropower into electrical energy, which is the backbone of many countries’ renewable energy strategies. The global push for carbon-neutral energy sources has significantly boosted the demand for water turbines in hydropower plants. As more countries invest in renewable energy infrastructure, the power generation sector continues to be the primary consumer of water turbines.

In addition to hydropower, the power generation industry also contributes to the demand for water turbines in other forms of renewable energy generation, such as tidal and wave energy. The scalability and efficiency of water turbines make them an attractive option for both large-scale and small-scale power generation projects. The power generation sector is expected to lead the water turbine market for the foreseeable future, driven by increasing investments in clean energy technologies.

Onshore Water Turbines Installation Location Is Largest Due to Cost-Effectiveness and Accessibility

Onshore water turbines dominate the installation location segment due to their cost-effectiveness and ease of installation. Onshore hydropower plants are typically more affordable than offshore plants, as they do not require the additional infrastructure and specialized equipment needed for offshore installations. This makes onshore turbines a preferred choice for many hydropower projects, particularly in areas with access to natural water sources such as rivers and lakes.

The adoption of onshore water turbines has been further accelerated by the global focus on green energy and sustainable infrastructure. Onshore hydropower plants are easier to develop and maintain compared to offshore projects, which require more complex engineering solutions. This has made them a practical choice for a wide range of applications, from small residential setups to large-scale power generation.

Asia-Pacific Region Is Fastest Growing Owing to Expanding Hydropower Projects

Asia-Pacific is the fastest-growing region for the water turbine market, driven by large-scale hydropower projects in countries like China, India, and Southeast Asia. The region has some of the world’s largest and most ambitious renewable energy projects, with hydropower playing a significant role in meeting energy demands. China, in particular, is leading the way with massive investments in hydropower infrastructure, including the construction of new dams and the upgrading of existing plants. This increasing focus on hydropower development has significantly boosted the demand for water turbines.

In addition to China and India, other countries in the region, such as Indonesia, Vietnam, and the Philippines, are also increasing their investments in hydropower projects. As these countries work toward fulfilling their renewable energy targets, the demand for water turbines is expected to continue rising, making Asia-Pacific the fastest-growing region in the market.

Competitive Landscape and Leading Companies

The water turbine market is highly competitive, with several global players involved in the design, manufacturing, and installation of water turbines. Leading companies such as General Electric (GE), Siemens AG, Andritz Hydro, Voith Hydro, and Toshiba Energy Systems & Solutions dominate the market. These companies are focusing on technological innovations to improve turbine efficiency, reduce maintenance costs, and expand their product portfolios to cater to the growing demand for renewable energy solutions.

Moreover, strategic partnerships and mergers and acquisitions are common in the water turbine market, as companies seek to enhance their capabilities and expand their geographic presence. As governments and private players continue to invest in renewable energy infrastructure, competition is expected to intensify, with companies striving to offer cost-effective and high-performance solutions to meet the increasing energy demands globally.

Recent Developments:

• General Electric (GE) announced the launch of an advanced turbine model designed to increase the efficiency of hydroelectric power plants by up to 15%.
• Siemens AG completed the acquisition of a leading hydroelectric technology firm to expand its portfolio of water turbines for both onshore and offshore renewable energy applications.
• Andritz Hydro signed a contract to supply advanced Kaplan turbines for a major hydropower project in the Asia-Pacific region, with a capacity of 200 MW.
• Voith Hydro received regulatory approval for a new offshore water turbine design intended for marine energy projects, expected to generate 20% more energy than existing models.
• China Yangtze Power announced the construction of a new hydropower facility in China, which will integrate state-of-the-art water turbines to generate over 1,000 MW of clean energy.

List of Leading Companies:

• General Electric (GE)
• Siemens AG
• Andritz Hydro
• Alstom Power
• Voith Hydro
• Toshiba Energy Systems & Solutions Corporation
• China Yangtze Power Co., Ltd.
• KSB Group
• Mitsubishi Heavy Industries, Ltd.
• Dongfang Electric Corporation
• Fincantieri S.p.A.
• Schneider Electric
• SUEZ Water Technologies & Solutions
• Cummins Inc.
• Hydro-Québec

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