The new report by Expert Market Research titled, ‘Global Hydropower Generation Market Size, Share, Analysis, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global hydropower generation market, assessing the market based on its segments like capacity and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Hydropower Generation Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2021): USD 210.7 billion
- Forecast CAGR (2023-2028): 6.05 %
- Forecasted Market Size (2027): USD 299.70 billion
The growing need for cleaner energy sources as a result of rising global warming, rising carbon and GHG emissions, and dwindling fossil fuels is driving the global market for hydropower generation.
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Furthermore, many developed and developing countries are aggressively investing in hydropower production projects to promote sustainability as a result of increased environmental concerns throughout the world. Furthermore, the adoption of legislation aimed at maximising sustainability as well as fostering social, economic, and environmental benefits are boosting market growth. The industry is growing due to hydropower’s long-term cost-effectiveness with low recurrent expenses when compared to coal-fired electricity. In addition, as the world’s population grows and more commercial and industrial spaces are built, there is a greater need for energy, which encourages the use of hydroelectricity and propels the market expansion of hydropower generation.
Hydropower Generation Industry Definition and Major Segments
Hydropower is a clean, sustainable, and renewable energy source that uses the power of flowing water to create electricity. Turbine-driven generators transform the potential energy of fast-falling water into mechanical energy.
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By capacity, the market is divided into:
- Small Hydro Power Plant (Up to 1MW)
- Medium Hydro Power Plant (1MW – 10MW)
- Large Hydro Power Plant (Above 10MW)
The global regions for hydropower generation market include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Hydropower Generation Market Trends
The efficiency of hydropower plants can be linked to the growth of the global market for hydropower generation. When compared to other power plants, such as nuclear or coal, many hydropower facilities can ramp up and down their energy supply fairly quickly while also being halted and resumed seamlessly. Such adaptability enables them to respond swiftly to changes in demand, conserving energy and compensating for fluctuations in supply from other electrical sources. This contributes to the market’s expansion.
Furthermore, the quick implementation and rising desire for hydroelectricity might be linked to the security of its energy supply, since wind power is mostly dependent on weather conditions. As a result, these are some of the elements driving the market expansion of hydropower, which is a key source of clean energy.
Key Market Players
The major players in the market are Andritz Hydro USA Inc., GE Energy, CPFL Energia S.A, Sinohydro Corporation, Tata Power Corporation, Alstom Hydro and others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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