Vortex turbines harness the power of vortex generators to produce clean and renewable energy from fluid flows. They offer a compact and environmentally friendly design that can be easily installed on offshore structures like ships and in narrow water channels. Vortex turbines help maintain water flow and do not block navigation like conventional hydropower structures. They generate power quietly with negligible environmental impact.
Market key trends:
One of the key trends driving the growth of the vortex turbine market is the increasing investments in offshore wind energy projects around the world. Vortex turbines are perfectly suited for offshore environments as their compact size allows for easy installation on the support structures of offshore wind farms without disrupting water movements or traffic. Many countries in Europe and Asia have ambitious targets for expanding their offshore wind capacity in the coming years. For instance, the UK government plans to increase offshore wind generation capacity five-fold to 40GW by 2030. Germany has set a target of 20GW by 2030. Such large scale investments in offshore wind energy infrastrucutre are expected to drive the demand for vortex turbines that can be installed alongside wind turbines to harvest additional energy from ocean currents as well as tides and waves. This will accelerate the growth of the global vortex turbine market during the forecast period.
Segment Analysis
The global vortex turbine market can be segmented by design and application. Based on design, the axial flow sub segment is dominating the market currently due to its high efficiency and ease of operation in various applications like water and power generation. Axial flow turbines are widely used in hydropower plants, where the incoming water flows parallel to the axis of rotation of the impeller blades or runner. Due to this design, axial flow turbines are capable of handling higher head as compared to other designs and are proven to have highest efficiency.
Key Takeaways
The Global Vortex Turbine Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis -Asia Pacific region currently holds the major share of the global vortex turbine market and is expected to remain the fastest growing region during the forecast period. Growth in this region can be attributed to rising investments in hydropower projects across developing economies like China and India.
Key players - Key players operating in the vortex turbine market are Siemens, General Electric, Wärtsilä, MITSUBISHI HEAVY INDUSTRIES, Andritz, Ansaldo Energia, BHEL, Toshiba, Dongfang Electric, and Harbin Electric. Siemens holds a significant share of the global market due to its vast product portfolio and widespread installations base. The company offers a wide range of axial flow turbines across various power ratings for hydro and marine applications.
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