Hydropower Market Analysis and Forecast: Trends, Opportunities, and Challenges

Hydropower Market report provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. This market report brings into focus plentiful of factors such as the general market conditions, trends, inclinations, key players, opportunities, and geographical analysis which all aids to take the business towards the growth and success. Moreover, Hydropower Market report explains better market perspective in terms of product trends, marketing strategy, future products, new geographical markets, future events, sales strategies, customer actions or behaviours. Hence, the Hydropower Market report brings into the focus, the more important aspects of the market or Energy industry.

This renewable energy source is in high demand all over the world due to the increasing awareness of rapid climate change and global warming. As a result, the hydropower market has recorded significant revenue growth over time, thanks to the large number of potential consumers who are opting for renewable sources of energy instead of conventional fossil fuels. The use of renewable energy sources like hydropower helps to reduce the carbon footprint and mitigate the effects of climate change. The increasing demand for renewable energy sources is expected to drive the growth of the hydropower market further in the future.

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As per Delvens market analysis report, the global Hydropower market size was estimated at USD 237.7 billion in 2022 and is projected to reach USD 296.5 billion in 2030 at a CAGR of 2.8% during the forecast period 2023-2030.

Rapid industrialization and urbanization in developing countries like China and India have led to a surge in demand for electricity. This has further increased the demand for renewable energy sources like hydropower to meet the growing power demand. Governments of various countries, including the US, Germany, India, Japan, and China, have launched initiatives to reduce their carbon footprint. This has led to a surge in demand for renewable energy sources for power generation, including hydropower. As a result of the increasing demand for renewable energy sources, various hydropower generation projects have been established across the globe, especially in the Asia-Pacific region. This is to meet the growing renewable power demand and reduce the dependency on fossil fuels for power generation.

The prominent players in the Hydropower market are

Siemens Energy
General Electric (GE)
Voith GmbH & Co. KGaA
TOSHIBA CORPORATION
FLOVEL Energy Private Limited
ANDRITZ
Natel Energy
Gilkes
Bharat Heavy Electricals Limited
SNC-Lavalin Group
Kolektor
Mavel, a.s.
Canyon Hydro
PJSC RusHydro
EDF
RusHydro
Hydro-Québec
Duke Energy

Recent Developments

May 2023, Satluj Jal Vidyut Nigam (SJVN) of India has been granted permission by Nepal to develop a second hydropower project in the country. Currently, the firm is developing a 900-MW Arun-III hydroelectric project located on the Arun River in Eastern Nepal. This project is scheduled to be completed in 2024. Investment Board Nepal (IBN) has approved to build of the 669 MW Lower Arun hydropower project in eastern Nepal.

December 2022, China announced the completion of its second-largest hydropower facility, the Baihetan hydropower plant, on the upstream branch of the Yangtze River. This facility will be equipped with 16 one-GW turbines.

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Hydropower Market Key Findings:

On the basis of type, the segment of micro hydropower refers to small-scale hydropower projects that generate up to 1 MW of energy. This segment has emerged as the largest global segment in the hydropower market due to the increasing demand for this type of project. Micro hydropower projects are particularly suitable for providing energy to rural areas and small communities that do not have access to large-scale power production plants. The huge number of people who are dependent on micro hydropower projects for their energy needs has become a major driving force for the growth of this segment.

On the basis of Capacity, the hydropower market has different segments based on the capacity of the standalone systems. The segment of up to one MW has emerged as the largest global segment of the standalone systems. This segment provides electricity to the smaller sectors of society that do not have access to larger hydropower plants. The availability of resources such as flowing water in the foothills and through mountain ranges has led to an increasing demand for this particular segment. The demand for this segment is driven by the need to provide energy to remote areas that are not connected to the main grid. The next segment discussed under this category is one MW to ten MW capacity, which is usually used for feeding the main grid.

On the basis of component, the civil construction segment has the largest share in the hydropower market in 2021. This segment involves the construction of dams, powerhouses, and other infrastructure required for hydropower generation. Small power projects, which are a part of the civil construction sector, contribute significantly to the total cost of this segment. These projects involve the installation of turbines and other equipment required for power generation. The setting up of the entire hydropower system requires a specific arrangement to allow water to enter the turbines properly and generate the best possible results. This involves raising the water head level and constructing dams to store water. Civil professionals play a crucial role in the construction of dams and other infrastructure required for hydropower generation. Their inclusion in the system helps this segment to record considerable revenue over time.

China is currently the world's largest producer of hydropower, with over 27.2% of the world's built hydroelectric capacity as of 2019. This means that China has built more dams and other hydropower facilities than any other country in the world. Other countries that are major producers of hydropower include Brazil, the United States, Canada, India, and Japan. These countries have also built large-scale hydroelectric projects that generate significant amounts of electricity.

Hydropower Market Regional Analysis:

North America to Dominate the Market

Asia-Pacific is expected to be the fastest-growing market during the forecast period, with the majority of the demand coming from countries like China, India, Japan, etc.

Emerging technological trends aimed at increasing hydropower generation in Asia-pacific are expected to provide significant opportunities for the hydropower market in the coming years.

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Reasons to Acquire

Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.

Gain authentic and granular data access for the Hydropower Market to understand the trends and the factors involved in changing market situations.

Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.

In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Hydropower Market report involves use of latest tools and techniques for researching, analysing and gathering of data and information. The market analysis here includes competitive study, product information analysis, applications, and region-wise analysis, competitor landscape, consumption and revenue study, cost structure analysis, price evaluation and revenue analysis up to 2030. This report performs systematic gathering, recording and analysis of data about the issues related to the marketing of goods and services and serves the businesses with an excellent market research report. The global Hydropower Market report provides smart solutions to the complex business challenges and commences an effortless decision-making process.

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