Global Penstock Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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Global Penstock Market Overview:
“The global Penstock Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Penstock is a sluice or gate, used to control water flow. Primarily penstocks are used at hydroelectric reservoirs and sewerage systems. Penstock at hydroelectric reservoir are generally made of steel and high pressured water flows through it. The amount of water flow through a penstock, can be controlled with the help of a sluice, which is simply a gate that can be opened and closed to increase or decrease the water flow.
When a sluice is fully open, water flows freely down through the penstock. However, when it is closed slightly less water enters into the penstock. According to installation location, penstocks are classified into two types – buried penstock and exposed penstock. Buried penstocks are installed inside a trench and exposed penstock are installed on a hill slope preferably on the ridge of the hill.
Growing demand for sewage and water treatment facilities, especially, in emerging economies is a key factor driving growth of the global penstock market. In addition, increasing use of penstocks at hydroelectric reservoirs to control water flow is another factor expected to boost growth of the global penstock market over the forecast period. Moreover, penstock offers various benefits such as good impact resistance, controlled leakage, less operating loads, and adequate flow of liquid during operation which is also expected to fuel adoption of penstock and in turn boost growth of the global market over the forecast period.
However, high costs associated with installation of penstock is a major factor restraining growth of the global penstock market. In addition, problems associated with penstock such as harmonic vibrations, friction loss, and head loss of hydraulic turbines are other factors expected to hamper growth of the global market over the forecast period.
The market in Asia Pacific is expected to register significant growth in the target market over the forecast period, owing to increasing industrialization and government initiatives for repair and installation of new sewerage systems in emerging economies such as China, India, and Japan. The market in Middle East is expected to register moderate growth over the forecast period, owing to increasing adoption of penstock in countries in the region.
Global penstock market segmentation:
- Non-rising Spindle
- Rising Spindle
- Hydroelectric systems and dams
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Water Engineering Company
- AVK Holding A/S
- Australian Penstocks & Damper Valve Company
- AWMA Water Control Solutions
- SKC Engineering Ltd.
- Kawasaki Heavy Industries, Ltd.
- Industrial Penstocks Ltd.
- Invicta Valves Ltd.
- Spectra Company
- Waterfront Fluid Controls Ltd.
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