Press release
Small Hydropower Market Growth, Trend, Price and Forecast to 2023
The last few years have been extremely profitable for the global small hydropower market with government bodies around the world rooting for renewable sources of energy. Besides being eco-friendly, small hydro plants make a clean source of renewable energy and also one of the cheapest ones available in the market today. Spurred by these factors, the global small hydropower market is poised to exhibit a robust growth between 2015 and 2023.
Small hydro power plants have a life span of nearly 50 years hence make a reliable and economical source of energy. In addition, setting up these plants require low capital investment considering they require minimum reservoirs and civil construction works. Transparency Market Research (TMR) adds that operational and maintenance cost incurred in any small hydropower plant is seldom over 2% to 3% of the overall capital cost.
TMR however forecasts a moderate CAGR of 2.85% by installed capacity for the global small hydropower market between 2015 and 2023. At this pace, the installed capacity of the market, which stood at 94.70 GW in 2014, is expected to reach 146.65 GW before 2023 ends.
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Asia Pacific to Emerge Dominant in Global Small Hydropower Market
Regionally, Asia Pacific held a clear dominance in the global small hydropower market with a share of 70.29% in 2014. The Asia Pacific market can be further classified into India, Japan, China, and Rest of Asia Pacific. Both India and China boast strong rural electrification initiatives, which have been accelerating the demand for renewable sources of energy, and thus the small hydropower market in the region.
Some of the most prominent hydropower projects in the region include Siemens AG, Alstom AG, and Voith GmbH. Besides these international names, the Asia Pacific market also has a considerable representation by domestic players. Besides the increasing demand for power, favorable initiatives in place across emerging economies have been giving impetus to the market. For instance, the Rajiv Gandhi Grameen Vidyutikaran Yogjna (RGGVY) promotes technologies such as small hydropower, which can supply off-grid power to areas witnessing electricity deficit.
While China is currently leading the Asia Pacific small hydropower market in terms of installed capacity, positive outlook is also projected across countries such as the Philippines, Malaysia, and Vietnam.
Europe is Expected to Retain its Position as Second-leading Market for Small Hydropower
Besides Asia Pacific, the market will also witness opportunities across Europe, North America, South and Central America, and the Middle East and Africa. Among these nations, Europe holds considerable potential for growth. The small hydropower market in Europe currently held a share of 12.91% in the global market based on installed capacity in 2014. Over the course of the forecast period, Europe is expected to retain its position as one of the leading markets for small hydropower in the world. Furthermore, the increasing share of renewable energy in Italy and Russia played a major role in augmenting demand from the small hydropower market in Europe.
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This research study analyzes the small hydropower market in terms of installed capacity (GW). The market has been segmented on the basis of geography. For the research, 2014 has been taken as the base year, while all forecasts have been given for the period from 2015 to 2023. Market data for all the segments has been provided at the regional as well as country-specific level from 2015 to 2023. The report provides a broad competitive analysis of companies engaged in the small hydropower business. The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the small hydropower market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive industry analysis of small hydropower with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and profitability of the global small hydropower market. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
The high-level analysis in the report provides detailed insights into the small hydropower business globally. There are currently numerous drivers of the market. One of the most prominent drivers is the low generation cost compared to other off-grid renewable technologies. Market attractiveness analysis was carried out for the small hydropower market on the basis of installed capacity and untapped potential. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.
The small hydropower market was analyzed across five geographies: North America, Asia Pacific, Europe, Middle East and Africa, and South and Central America. Regional data has been provided for each sub-segment of the small hydropower market. Key players in the small hydropower market include Voith GmbH, ANDRITZ HYDRO GmbH, Alstom S.A., BC Hydro, and StatKraft AS. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
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About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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