Hydro Turbine Market To Reach $3.47 Billion by 2035

Global hydro turbine market was valued at approximately $1.63 billion in 2025 and is projected to reach $3.47 billion by 2035, expanding at a 7.8% CAGR during 2026-2035. Growth is being supported by increasing hydropower development, pumped-storage deployment, modernization of aging hydroelectric assets, and the need for flexible electricity generation as renewable energy penetration increases.

Browse the full report description of “Hydro Turbine Market Size, Share & Trends Analysis Report, By Technology (Reaction Turbine and Impulse Turbine), By Capacity (Micro Hydro (Up to 100 kW), Mini Hydro (100 kW–1 MW), Small Hydro (1–10 MW), Medium Hydro (10–100 MW), and Large Hydro (Above 100 MW)), By Application (Utility-Scale Power Generation, Pumped Energy Storage, Industrial Captive Power, Rural Electrification, Water Supply & Irrigation Projects, and Marine & Hydrokinetic Energy), By End User (Public Utilities, Independent Power Producers (IPPs), Industrial Facilities, Government & Municipal Authorities, and Community & Rural Hydropower Developers), Forecast Period (2026-2035)” at https://www.omrglobal.com/industry-reports/hydro-turbine-market

Manufacturers are also pursuing modernization opportunities. In June 2026, Voith secured an additional contract from Iberdrola to modernize two 43 MW pump-turbines at Spain's Torrejón pumped-storage plant, converting them for variable-speed operation to improve flexibility and efficiency. In March 2026, ANDRITZ secured rehabilitation work for Unit 4 of India's Bhakra Left Bank Powerhouse, supplying major generator components. In July 2026, ANDRITZ also expanded its Southeast Asian presence through regional offices in Thailand and Lao PDR, supporting hydropower services, maintenance, and automation upgrades.

The competitive landscape includes ANDRITZ AG, GE Vernova, Voith GmbH & Co. KGaA, Toshiba Energy Systems & Solutions/Toshiba Corporation, and Dongfang Electric Corporation, with competition centered on turbine efficiency, pumped-storage technology, modernization capabilities, project execution, digitalization, and geographic expansion.

Market Coverage

• The market number available for – 2025-2035
• Base year- 2025
• Forecast period- 2026-2035
• Segment Covered-
• Technology
• Capacity
• Application
• End User
• Turbine Type
• Project Type
• Geography

Competitive Landscape – ANDRITZ AG, GE Vernova, Voith GmbH & Co. KGaA, Toshiba Energy Systems & Solutions, Dongfang Electric Corporation, Harbin Electric Corporation

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Hydro Turbine Market Report Segment

• Technology
• Capacity
• Application
• End User
• Turbine Type
• Project Type
• Geography

Global Hydro Turbine Market Report Segment by Region

North America

• United States
• Canada

Europe                                              

• UK
• Germany
• Italy
• Spain
• France
• Russia
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Australia and New Zealand
• ASEAN Economies
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa

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