Hydropower Market Forecast 2022-2027: Industry Size, Share, Trends, Growth and Report

The latest research study "Hydropower Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global hydropower market reached a volume of 1.42 TW in 2021. Looking forward, IMARC Group expects the market to reach volume of 1.57 TW by 2027 exhibiting a growth rate (CAGR) of 1.60% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

Hydropower represents the electrical energy generated by converting kinetic energy from water bodies, such as waterfalls, rivers, and oceans. Several turbine-based power stations are placed on the riverbed through which electricity is produced using a generator. Commonly utilized hydropower technologies include run-of-river, storage, pumped-storage, and offshore. It operates through reversible plants or dams that can be used to generate and transmit energy.

Hydropower is environment-friendly and emits minimal greenhouse gas (GHG) during the generation of electricity. As a result, this technology finds widespread applications in the commercial, industrial, and residential sectors.

Hydropower Market Trends and Drivers:

The escalating demand for sustainable power sources and the increasing industrialization across the globe are primarily driving the hydropower market. Besides this, as compared to the electricity produced from the traditional coal and petroleum-based power plants, this technology is more reliable, cleaner, and cost-effective, which is further augmenting the market growth.

Moreover, the development of small hydropower (SHP) plants that are highly adaptable and flexible to dynamic infrastructural and geographical circumstances, especially in areas with poor grid connectivity, is also catalyzing the global market. Apart from this, the launch of favorable policies by the government bodies to promote the usage of renewable energy sources is another significant growth-inducing factor.

Furthermore, the rising integration of the industrial internet of things (IIoT) which facilitates the utilization of smart sensors that provide continuous and high-rate stream data to enhance the operational efficiency, is expected to bolster the hydropower market in the coming years.

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Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Size:
• Large Hydropower (Greater Than 100 MW)
• Small Hydropower (Smaller Than 10 MW)
• Others

Breakup by Application:
• Industrial
• Residential
• Commercial

By Geography:
•North America: (United States, Canada)
•Asia Pacific: (China, Japan,India, South Korea, •Australia, Indonesia, Others)
•Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
•Latin America: (Brazil, Mexico, Others)
•Middle East and Africa

List of Major Key Players:
The major players in the market are ABB Ltd., American Hydro Corporation (Wärtsilä Oyj Abp), Andritz AG, China Yangtze Power Co. Ltd. (China Three Gorges Corporation), Companhia Energética de Minas Gerais, Électricité de France S.A., General Electric Company, Iberdrola S.A., RusHydro, Siemens Energy AG, Tata Power Company Limited and Voith GmbH & Co. KGaA.

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