Global Hydropower Market Size By Capacity (Large Hydropower (Greater Than 100 MW), Small Hydropower (Smaller Than 10 MW)), By Competitive Landscape, By Geographic Scope And Forecast

Hydropower Market Size And Forecast

Hydropower Market size was valued at USD 241.14 Billion in 2022 and is projected to reach USD 360.65 Billion by 2030, growing at a CAGR of 5.16% from 2023 to 2030.

Global Hydropower Market is witnessing significant growth during the forecasted period due to various driving factors including growing demand for renewable energy sources, growing consumption of electricity around the world, growing world population year-on-year, and growing infrastructure development, amongst others. Furthermore, the market is expected to grow steadily throughout the forecast period due to the growing number of new hydropower projects across the world, the growing adoption of electric vehicles, and booming industrialization across the world.

Global Hydropower Market Definition

According to the US Office of Energy Efficiency & Renewable Energy, Hydropower, often known as hydroelectric power, is one of the oldest and greatest renewable energy sources, utilizing the natural flow of flowing water to create electricity. The electricity generated by generators powered by turbines that transform the potential energy of falling or fast-flowing water into mechanical energy is referred to as hydropower. Beyond electricity generation, hydropower provides flood control, irrigation support, and safe drinking water.

Hydropower is inexpensive. In comparison to other energy sources, hydropower delivers low-cost electricity and long-term durability. Hydroelectric power was the most extensively used renewable energy source in the early twenty-first century. Hydropower installations are very nimble and responsive. Water carries a tremendous amount of energy. Hydropower production may be tuned to demand, and indirect emissions are very low. Smaller plants can benefit from secondary water flows. Hydropower as a reclamation tool.

Global Hydropower Market Overview

Global Hydropower Market is growing significantly during the forecasted period as the energy demand is growing around the world due to high consumption across residential, commercial, and industrial sectors. Construction around the world is growing at higher rates due to rising population, growing industrialization, and the rest of other reasons. According to the Statistique Canada, in 2018, Canada’s population was 37,065,178, on the other hand, it was 37,593,384 in 2019. Furthermore, Canada showed a 0.89% rise in 2020’s population accounting for 38,005,238. Also, the United States population was 328,239,523 in 2019 as there was a rise of 0.6% from 2018. According to the United States Census Bureau, there was an increase in population by 0.59%, in 2020.

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development’s joint report state that a total of 1,449,000 housing constructions had been completed by April 2021. And around 1,569,000 housing units had been started construction and are under construction process. The unadjusted estimates of housing units authorized by building permits for January through December 2020 have been revised and accounted for 1,760,000 permits across the country. Canada showed a 5.9% rise in building construction, especially in the residential sector; the total investment in construction increased to USD 14.8 in March 2021. According to the Construction Index, residential investment continued to set records with an 11th consecutive monthly increase, up 7.6% to USD 11.10 bn in March.

Investment in single units jumped 10.7% to USD 6.18 bn. Quebec led the way with an increase of 30.4%, bringing investment in single homes to USD 1.51 bn for the province. Investment in Ontario was up 9.8% to USD 2.62 bn, driven by renovations to single-family homes in the census metropolitan area of Toronto. Construction sites are accounted for creating noise levels and hamper the life of the residents around the sites and the workers on-site. Thus, growing construction projects worldwide can drive the growth of the Global Hydropower Market. Also, the demand for renewable energy sources is growing across the world. Thus, many countries are inclined towards renewable energy projects to build renewable power plants.

For an instance, China invested USD 15.4 Billion in the Wudongde Hydropower Station project as well as USD 6.2 Billion in the Ulanqab Wind Farm project. Furthermore, the growing adoption of electric vehicles, growing industrialization, and growing infrastructure development, are going to create new opportunities for the Global Hydropower Market. However, stringent regulations, the high cost of installation of dams, the long duration of the construction process, environmental concerns related to dams, and the challenges of turbine design might strangle the growth of the Global Hydropower Market during the forecasted period.

Global Hydropower Market Segmentation Analysis

The Global Hydropower Market is segmented on the basis of Capacity, And Geography.

Hydropower Market, By Capacity

• Large Hydropower (Greater Than 100 MW)
• Small Hydropower (Smaller Than 10 MW)
• Others (10-100 MW)

Based on Capacity, the market is bifurcated into Large Hydropower (Greater Than 100 MW), Small Hydropower (Smaller Than 10 MW), and Others (10-100 MW). Large Hydropower (Greater Than 100 MW) accounted for the largest market share of more than 80% in 2022 and is projected to grow at a significant CAGR during the forecast period. Large Hydropower (Greater Than 100 MW) produces a large amount of energy as compared to other hydropower stations with lesser capacity. The energy demand is growing from metro-cities, cities, and towns, growing industrialization. Thus, to fulfill the higher energy requirement from such sectors, the segment holds the highest share of the Global Hydropower Market.

Hydropower Market, By Geography

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

Based on Regional Analysis, the Global Hydropower Market is classified into North America, Europe, Asia Pacific, Middle East And Africa, and Latin America. Asia-Pacific accounted for the largest market share of more than 42% in 2022 and is projected to grow at a significant CAGR during the forecast period. Asia-Pacific countries such as China and India are majorly driving the growth of the market during the forecasted period due to, higher population, major infrastructure development projects, potential rail networks, and major hydropower stations and future projects.

According to the Bulletin of the First National Census for Water of China, a total of 46,758 hydropower stations with a total installed capacity of 333 GW were built or under construction in China by 2011, with 22,190 stations having 500 kW or more installed capacity, including 20,866 stations built with a total installed capacity of 217 GW and 1,324 stations under construction with a total installed capacity of 110 GW. Also, India has major hydropower stations including the Sardar Sarovar Hydro Electric Power plant, Baira-Siul Hydroelectric Power plant, Sutlej Bhakra Nangal Hydroelectric Power plant, Beas Dehar Hydroelectric Power plant, and rest of others.

Key Players

The “Global Hydropower Market” study report will provide valuable insight with an emphasis on the global market including some of the major players are Voith GmbH, ANDRITZ HYDRO GmbH, General Electric Company, China Three Gorges Corporation, Alfa Laval, Metso Corporation, Hydro-Québec, ABB Ltd, Engie, and Tata Power Corporation, among others.

This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In December 2022, the world’s second-largest hydroelectric facility was constructed by China Three Gorges Corporation. The state-owned China Three Gorges Corp., which controls the world’s largest power plant in terms of capacity, the 22.5 GW Three Gorges hydropower station, has finished the 16 GW Baihetan project, which is now second in both categories.
• In May 2022, the Changlongshan pumped storage station in Eastern China received two full power units from Voith Hydro (5 and 6). Unit 5 passed the 15-day trial operation and was formally put into commercial operation in early May.
• In March 2022, Voith successfully acquired Voith Hydro’s remaining shares from its former joint venture partner Siemens Energy. On October 21, 2021, the technology firm and its long-term partner Siemens Energy agreed to acquire the remaining 35% ownership in the old Voith Siemens Hydro Power Generation GmbH & Co. KG.
• In March 2020, a joint venture between Tata Power Company, Norway’s Clean Energy Invest (CEI), and the International Financial Corporation (IFC) started a 178-megawatt hydropower project in Georgia.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Hydropower Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Hydropower Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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