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

We're seeing a significant surge in the Global Hydropower Market, and it's largely because everyone's using more energy – homes, businesses, and factories alike. Think about all the construction happening too! A lot of that is driven by a growing population and more industrial activity. Just look at CanadaStatistique Canada reported 37,065,178 people in 2018, and then 37,593,384 in 2019. That growth continued, hitting 38,005,238 in 2020, a 0.89% jump! The United States saw similar trends; in 2019, the population was 328,239,523, a 0.6% increase from the year before. The United States Census Bureau even noted a further 0.59% rise in 2020. Basically, more people mean more demand for everything, including energy.

Okay, so the latest scoop from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development is that we finished building 1,449,000 homes by April 2021. Plus, another 1,569,000 were in progress, with construction already started. They also tweaked the numbers for building permits from 2020 – turns out, there were about 1,760,000 permits issued across the country! And up north, Canada's building construction is booming, especially for homes, jumping 5.9%. All that construction investment hit USD 14.8 billion in March 2021. The Construction Index also says that residential investment is still breaking records, going up for the 11th month in a row – a 7.6% bump to USD 11.10 billion in March!

Wow, investments in single-family homes really took off, climbing 10.7% to a whopping USD 6.18 billion! Quebec was the star, soaring 30.4% and pushing their single-home investments to USD 1.51 billion. Ontario wasn't far behind, up 9.8% to USD 2.62 billion, largely thanks to all the renovations happening to single-family homes in the Toronto area. Of course, all this construction means noise and disruptions for nearby residents and workers on-site. But hey, all these construction projects could really boost the Global Hydropower Market. Plus, with everyone wanting renewable energy these days, countries are really focusing on building those 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)

When we look at how much power these plants can generate, the hydropower market basically splits into three categoriesLarge Hydropower (we're talking plants bigger than 100 MW), Small Hydropower (the smaller guys, under 10 MW), and everything else in between (10-100 MW). Back in 2022, the Large Hydropower category really dominated, making up over 80% of the market! And it's expected to keep growing strong. The reason Large Hydropower does so well is that it just produces so much more energy compared to those smaller plants. With cities, towns, and industries all demanding more and more power, especially with growing industrialization, Large Hydropower is stepping up to meet that need, which is why it grabs such a big piece of the global hydropower pie.

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.

Wow, check this out! According to the Bulletin of the First National Census for Water of China, by 2011, China had a whopping 46,758 hydropower stations either up and running or being built. That's a total installed capacity of 333 GW! Of those, 22,190 stations packed a punch with 500 kW or more. To break it down even further, 20,866 of those were already built (totalling 217 GW), and another 1,324 were still under construction with a massive 110 GW capacity on the way. And speaking of hydropower, India's got some serious players too, like the Sardar Sarovar Hydro Electric Power plant, the Baira-Siul Hydroelectric Power plant, the Sutlej Bhakra Nangal Hydroelectric Power plant, the Beas Dehar Hydroelectric Power plant, and, well, a bunch 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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