Global Gravity Turbine Energy Market, By Type (Pico Hydro Plants (0 kw - 5 kw), Mini Hydro Plants (100 kw - 500 kw), Micro Hydro Plants (5 kw - 100 kw) and Large Hydro Plants (More Than 500 kw)), By Application (Aeronautics, Hydropower Station, Irrigation, Marines, Power Generation, and Power Storage), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa) - Trends, Analysis and Forecast till 2029)

Report Code: PMI325619 | Publish Date: December 2023 | No. of Pages: 178

Global Gravity Turbine Energy Market Overview

Gravity turbine is an energy concept which converts kinetic energy into electricity. It takes kinetic energy from earth’s gravity which is then converted into electricity. This offers a viable solution for extinguishing resources. The earth’s gravitational pull is used to move water, which runs the turbines. The turbines are connected to alternators which generates electricity.

Dynamics and Statistics:

The increasing production and generation of electricity across the world is the major driving factor for the target market growth. According to a data published by International Energy Agency Organization in the year 2019, the net electricity production in Asia/Oceanic was 155.4 TWh in July 2019, which increased by 9.2% compared to June 2019. Also, in July 2019, OECD Europe produced 283 TWh of electricity, 0.2% more than in the same period last year. However, changed water flow and the construction of roads and power lines play major role in harming the environment which is restraining the target market growth. In addition, it is expensive to implement as well which is expected to hamper the target market growth over the forecast period. Nevertheless, increasing need and consumption of electricity all around the world is anticipated to create growth opportunities for the target market.

By Type:

  • Pico Hydro Plants (0 kw - 5 kw)
  • Mini Hydro Plants (100 kw - 500 kw)
  • Micro Hydro Plants (5 kw - 100 kw)
  • Large Hydro Plants (More Than 500 kw)

By Application:

  • Aeronautics
  • Hydropower Station
  • Irrigation
  • Marines
  • Power Generation
  • Power Storage

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

On the basis of region, global gravity turbine market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. Asia- Pacific region is expected to dominate the global market during the forecast period due to increasing in electricity consumption rate because of developing infrastructure.

Key Players:

  • Gravity Power LLC
  • Mitsubishi Motors Corporation
  • Hitachi Ltd.
  • Alstom SA
  • Solar Turbines Incorporation
  • Rolls-Royce Holding PLC.
  • Kawasaki
  • BHEL Electrical Limited

FAQs

The Gravity Turbine Energy Market is segmented into Type, Application, and Region.

Various factors contribute to the growth of the Gravity Turbine Energy Market, including increasing demand, technological advancements, and favorable regulatory environments. These elements collectively drive the expansion of the market.

Despite its growth, the Gravity Turbine Energy Market faces challenges such as environmental concerns, regulatory constraints, and fluctuations in raw material prices, which may hinder its global expansion.

By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is estimated to witness a significantly high revenue share over the forecast period, indicating its dominance in the Gravity Turbine Energy Market.

The key players operating in the target market include Gravity Power LLC, Mitsubishi Motors Corporation, Hitachi Ltd., Alstom SA, Solar Turbines Incorporation, Rolls-Royce Holding PLC., Kawasaki, and BHEL Electrical Limited.