Small Hydropower Market Detail Analysis focusing on Top Key Players like Voith GmbH, Andritz Hydro, GE, Siemens, Lanco Group, StatKraft, RusHydro, Fortum Oyj

As renewables score over conventional fossil fuel resources, clean energy sources such as hydro power are gaining traction, pushing small hydropower market trends, making it a viable, dependable investment avenue for energy magnates in the future. Pertaining to the robust rise in urbanization and industrialization worldwide, the demand for electricity has increased manifold in the last few years. On the grounds of the same, small hydropower market has been gaining acclaim, pertaining to the fact that small hydropower plants are particularly designed for providing electricity to remote terrains, since they can conveniently be off grid as well as connected to the grid.

The vast expanse of small hydropower market is rather vivid through the numerous projects that have been undertaken across the globe by prominent industry contenders in order to fuel the worldwide demand for uninterrupted power supply. For instance, Smakraft, a leading small hydropower project operator based in Bergen, Norway, has announced it plans to double its renewable energy generating capacity by the year 2022. Apparently, reports claim that the company plans to reach 2 TWh of electricity production on an annual basis, for which it aims to construct new run-of-river plants and acquire existing plants. MaketStudyReport.com adds a New Small Hydropower Market Research Report for the period of 2016-2024 that shows the growth of the market is rising at a 2.5% CAGR to 2024.

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U.S. dominated the North America small hydropower market size, with installed capacity of 6.98 GW in 2015. Regulatory compliances by FERC to encourage renewable energy production accompanied by need to supply electricity in non-grid connectivity areas should positively influence market growth.

Asia dominated the global electricity consumption accounted at over 40% of the total demand in 2015. Availability of potential sites coupled with presence of skilled labor is forecast to favor China and India small hydropower market growth. Vietnam small hydropower market is set to gain at over 6.5% CAGR up to 2024. Dense rivers with more than 2000 streams &rivers with length of over 9 km are the favorable natural assets to build SHP plant.

Growth in BRICS economy, and government efforts to supply electricity in remote areas. Supply issues in locations with no grid availability will open opportunities for small hydropower plants. France is set to grow at more than 3% CAGR up to 2024. Efforts by various authorities such as European Small Hydropower Association (ESHA) to promote SHP are expected trending factor to fuel regional demand.

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Key insights from the report include:

Global small hydropower market size is forecast to reach 146.33 GW by 2024, growing at 2.7% CAGR up to 2024.

APAC, predominant by China, Japan, &India led the regional industry with total installations around 83.65 GW in 2015.

North America, dominated by the U.S. small hydropower market size, forecasts installations of more than 14 GW by 2024.

Europe, led by Italy is estimated to gain at 2.3% CAGR up to 2024. Rising trend to refurbish or renew existing hydro plants may positively drive regional demand.

Global small hydropower market share is fairly competitive and primarily persuade by regulatory policies. Voith, GE, Andritz Hydro, and Siemens are few key industry participants.

Other prominent market players include 24H - Hydro Power, Agder Energi, Derwent, Lanco, Fortum Oyj, RusHydro, and StatKraft.

The above information has been provided on a regional and country basis for the following:
North America, U.S., Canada, Europe, Germany, UK, France, Italy, Russia, China, India, Japan, Latin America, Brazil, Mexico, MEA.

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Outer scope of this report In yet another development, the Ministry of New and Renewal Energy (MNRE), the nodal agency that promotes small hydropower projects, has reportedly established a dedicated, automatic SCADA-based hydraulic turbine R&D laboratory at the AHEC (Alternate Hydro Energy Centre) at IIT Roorkee. With an initial cost of INR 40 crores, the lab will be acting as a design & validation facility and will also be conducting research on hydro turbines and myriad hydro mechanical equipment as mandated by international standards.

Related Report:

Hydropower Market Share & Forecast, 2017 - 2024

Hydropower Market size is set to exceed 1,300 GW by 2024. Rising electricity demand coupled with increasing investment towards sustainable energy will stimulate the global hydropower market size. As per International Energy Agency (IEA), hydroelectric accounted for over 80% of the total renewable energy mix. North America and Europe have introduced plans to upgrade, renovate, and modernize the existing stations to ensure more efficient operations. For instance, in March 2015, Latvenergo announced to invest USD 222.26 million towards reconstruction of Riga, Plavinas and Kegums hydroelectric power stations in Latvia by 2022.

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