Hydropower Market Global Trend, Segmentation and Opportunities Forecast to 2024| Voith, General Electric, Chi0 Three Gorges Corporation, Alfa Laval, Metso, Hydro-Québec, Duke Energy, Georgia Power, Ontario Power Generation, Stat Kraft, ABB Ltd, Engie, Tat

A study conducted by Global Market Insights, Inc. suggests that the worldwide hydropower market could grow by more than 2% and would exceed the capacity of 1300 GW by 2024. Benefits like tourism, irrigation, recreation, flood control and aquaculture could further complement the business landscape of hydropower stations.

Hydropower is considered as one of the most reliable sources of energy across the globe. High operating life cycle and low maintenance cost are primarily influenced the installation of new hydropower plants. Meanwhile, increasing demand for electricity coupled with an upsurge in sustainable energy investments are expected to bolster technology adoption.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/1602

Key companies that are operating in global hydropower market include Voith, General Electric, Chi0 Three Gorges Corporation, Alfa Laval, Metso, Hydro-Québec, Duke Energy, Georgia Power, Ontario Power Generation, Stat Kraft, ABB Ltd, Engie, Tata Power Corporation, EDF

Rising awareness regarding greenhouse gas emissions, increasing government emphasis on developing hydropower stations and rising electricity demand is generating new growth opportunities for market players in hydropower industry.

Surging demand for continuous and reliable electricity supply along with upgradation of aging generating stations is fueling the demand for large hydropower capacity stations. According to a study, in 2016, large capacity segment held 80% of the global hydropower market share. Increasing installation of new hydropower plants has accelerate industry growth. Citing an instance, in 2016, Andritz declared the installation of three hydroelectric stations that valued more than USD 75 million in Nicaragua and Brazil to supply continues and reliable electricity.

In addition to this, mini-hydropower market is also gaining traction of late. Its cost-effectiveness and low ecological impact have encouraged new project deployments. In February 2016, the USTH (University of Science & Technology of Hanoi) installed a grid-connected, mini capacity power station in Vietnam which has a capacity range of 100 kW to 7500 kW. Moreover, in September 2016, ORIX Corporation declared acquisition of around 50% shares of Bitexco Power Corporation to expand its business reach in hydropower generation in Vietnam.

Increasing awareness regarding greenhouse emissions is likely to be a major driving factor for U.S. hydropower industry growth. According to Energy Efficiency and Renewable Energy, hydropower fulfills around 6% to 8% of electricity requirement of the U.S. The ORNL (Oak Ridge National Laboratory) and Non-Powered Dams (NPDs) meanwhile have estimated untapped reserve capacity of around 12,000 MW in 2015. Low power generation cost along with the ability to develop high electric power output is propelling hydropower market in the region.

Citing an instance, in 2016, the Department of Energy projected LEC (Levelized energy costs) from hydroelectric at USD 56.2/MWh, as compared to USD 191/MWh from the solar thermal sector. Moreover, a research report suggests that the U.S. hydropower market might expand at a rate of over 2% on account of huge untapped hydropower reserves.

Make an Inquiry for purchasing this Report @ https://www.gminsights.com/inquiry-before-buying/1602

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.