Water Power Market Growth Rate Across 2024 and Top Key Players: General Electric, Voith, Alfa Laval, China Yangtze Power, China Three Gorges Corporation, Metso, StatKraft, Agder Energi, Ontario Power Generation, ABB, Engie, EDF, Tata Power.

Global Water power market will be growing demand for electricity along with upsurge in investment towards sustainable energy. Europe and North America have introduced plans to renovate, upgrade, and modernize the ageing stations with an aim to ensure more efficient operations. In March 2015, Latvenergo announced its plan to invest USD 222.26 million towards reconstruction of Plavinas, Kegums, and Riga hydroelectric power stations in Northern Europe by 2022. Reliable, high operating life cycle coupled with low maintenance costs are some of the key indicators which will stimulate the water power market share. Flood control, irrigation, tourism, aquaculture and recreation in remote areas are some of the salient benefits, which will complement the industry outlook.

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Low generation cost coupled with ability to generate high electric output will propel the water power market. In 2016, Department of Energy projected levelized energy costs from hydroelectric at USD 56.2/MWh when compared with solar thermal at USD 191/MWh.

Large hydropower capacity segment accounted for over 80% of global water power market share in 2016. Growing demand for reliable and continuous electricity coupled with upgradation of ageing generating stations will fuel the industry outlook. In 2016, Andritz announced the installation of three hydroelectric stations worth over USD 75 million in Brazil and Nicaragua with an objective to supply reliable and constant electricity.

Large capacity segment in 2016 accounted for over 80% of global water power market share. Rising demand for continuous and reliable electricity along with upgradation of existing generating stations will stimulate the business landscape. In 2013, Agder Energi awarded a contract worth USD 24.4 million to Alstom, towards upgradation of the Iveland II hydroelectric plant in Norway, which has a generating capacity of approximately 150-GWh and 50 MW on annual basis. In 2016, Andritz installed three hydroelectric stations in Nicaragua and Brazil with an aggregate value of over USD 75 million with an aim to provide constant and reliable electricity.

Water power market size for 2016 was over 1,000 GW of cumulative installation and is set to exceed 1,300 GW by 2024.

Growth Drivers:

• Positive outlook towards renewable energy
• Growing demand for electricity
• Favorable government initiatives

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Cost competitiveness along with low ecological impact are some of the key factors which will complement the mini water power market. In February 2016, the University of Science and Technology of Hanoi (USTH) installed mini capacity grid connected power station in Vietnam with capacity range from 100 kW to 7500 kW. In September 2016, ORIX Corporation announced to acquire around 50% shares of Bitexco Power Corporation with an aim to expand its business in the hydropower generation in Vietnam.

U.S. water power market is set to expand over 2% on account of its huge untapped hydropower reserves. As per the Energy Efficiency and Renewable Energy, in the U.S., hydropower provides around 6% to 8% of the country's electricity. Measures towards greenhouse gas emissions may further complement the industry outlook. Non-Powered Dams (NPDs) and Oak Ridge National Laboratory (ORNL) estimated existing untapped reserves capacity of 12,000 MW in 2015.

Major participants in water power market are ANDRITZ HYDRO, Voith, General Electric, Alfa Laval, China Three Gorges Corporation, China Yangtze Power, Metso, Hydro-Québec, RusHydro, Duke Energy, Agder Energi, Georgia Power, StatKraft, Ontario Power Generation, Engie, ABB, EDF and Tata Power.

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