Hydrogenerators are generally of two types, namely synchronous and asynchronous hydrogenerators. Synchronous hydrogenerators are employed for weak grids where the unit may have significant influence on the network, while asynchronous generators are employed in case the grid is weak and if there are two units.
Moreover, on the basis of configuration of turbine hydrogenerators are of two types, namely vertical hydrogenerators and horizontal hydrogenerators.
Hydrogenerators Market: Dynamics
Leading manufacturers are focusing on introducing compact hydrogenerators in the market in order to meet the increasing demand from consumers along with improved performance characteristics. This is anticipated to augment the hydrogenerators market in the coming years.
Moreover, with increasing urbanization across the globe, electricity consumption has increased considerably over the years. This is anticipated to boost the demand for hydrogenerators across the globe over the assessment period. Furthermore, with increasing penetration of IT and technology in day-to-day life, the demand for IT and data centers is anticipated to increase over the years, which will further surge the consumption of electricity in the coming years. This is anticipated to be one of the prime reasons propelling the demand for hydrogenerators.
Also, with increasing focus of numerous countries on developing their healthcare infrastructure, the demand for uninterrupted power supply is anticipated to grow in the coming years. This is anticipated to further supplement the growth of the hydrogenerators market over the assessment period.
Governments of numerous leading economies across the globe are emphasizing on expanding their hydropower infrastructure by implementing public private partnerships in the country. This will further increase the demand for hydrogenerators and is expected to create opportunities for augmentation of the said market over the assessment period.
The maintenance and operating cost of a hydrogenerator is significantly high, which is anticipated to restrain the growth of the hydrogenerators market in the coming years. Moreover, few hydrogenerators have limited power generation capacity. This can have a negative effect on the sales of hydrogenerators and derail the growth of the hydrogenerators market.
Hydrogenerators Market: Regional Outlook
Attributing to increasing government investments in establishing power plants and increasing electrification in rural and remote areas, the demand for hydrogenerators is anticipated to increase significantly in the Asia Pacific region. Presence of numerous key manufacturers in North America is anticipated to drive the growth of the hydrogenerators market over the assessment years.
Increasing focus of numerous European countries on extracting energy from renewable energy sources has brought hydropower into the limelight. With the increasing popularity of hydropower, the demand for hydrogenerators is anticipated to increase considerably in the coming years in the European market.
Hydrogenerators Market: Market Segmentation
On the basis of type, global hydrogenerators market can be segmented into:
- Synchronous Hydrogenerators
- Asynchronous Hydrogenerators
On the basis of application, global hydrogenerators market can be segmented into:
- Vertical Hydro Turbine Generators
- Horizontal Hydro Turbine Generators
On the basis of power, global hydrogenerators market can be segmented into:
- Less than 1000KVA
- Between 1000KVA-10000KVA
- Above 10000KVA
Hydrogenerators Market: Market Participants
Examples of some of market participants identified across the value chain of the hydrogenerators market are:
- Mitsubishi Heavy Industries, Ltd.
- Cummins, Inc.
- Ingeteam Corporation, S.A.
- ANDRITZ HYDRO GmbH
- Pentaflo Hydro Pvt. Ltd.
- Toshiba Corporation
- General Electric
- Arizona Hydrogen Manufacturing, Inc.
- Wärtsilä Corporation
- Kirloskar Electric Company Ltd.
- Kohler Co.
- Tamar Hydro Pty Ltd
Source: Future Market Insights
