Small Hydropower Market is expected to reach from USD 2.2 billion to USD 2.7 billion in 2029, exhibiting a CAGR of 2.5% | Size, Share, Industry Analysis

Small Hydropower Market

Small Hydropower Market was worth USD 2.2 billion in 2021, and is expected to touch USD 2.7 billion in 2029, and the market is increasing at a CAGR of 2.5% from 2022-2029

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The factors driving the growth of Small Hydropower Market includes electrification of rural areas, growing emphasis on utilizing renewable sources of energy and rising concerns related to climate change and greenhouse emissions around the world. As per the data available at Statista, the Global Renewable Energy Market was calculated around USD 613.77 billion in 2020 and is expected to reach USD 1.1 trillion by the end of 2027, which will accelerate the Global Small Hydropower Market in the approaching years. Moreover, financial incentives by provided by Government for installation of small hydropower plants, increasing electricity distribution costs, power outrages due to faults in the main grid and growing adoption of mini and micro small hydro facilities in the developing countries, are some of the additional factors supplementing the Small Hydropower Market size. In addition, low capital, and maintenance costs of small hydropower plants, increasing investments by major corporations on research and development, rapid urbanization, and rising population growth rates, are further contributing towards the market growth.

However, growth of the Small Hydropower Market is hindered due to high cost of operating small hydropower plants as compared to Photovoltaic (PV) and Onshore Wind Power plants.

The major players operating in the market are Bharat Heavy Electrical Ltd (BHEL), Gilbert Gilkes & Gordon, Flovel Energy Pvt. Ltd, Voith GmbH & Co, ANDRITZ Inc, GE Renewable Energy, Alstom S.A., Toshiba Corporation, Siemens AG, and StatKraft AS among others.

Based on Type the Mini Hydropower segment is predicted to grow at a robust CAGR during the forecast period

Rising focus on electrifying rural areas and Government initiatives promoting the use of renewable energy sources, are some of the factors responsible for the segment's growth.

Based on Component, the Civil Works segment is projected to grow at a remarkable CAGR over the forecast period

Civil works raises the water head level and guides the water onto the turbines, are propelling growth of the segment. 

Based on Region, the Asia-Pacific region is anticipated to expand at a significant during the forecast period

Government initiatives to electrify rural areas, presence of the leading players such as Flovel Energy Pvt. Ltd, Bharat Heavy Electrical Ltd (BHEL) and Toshiba Corporation, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Key Development

In 2019, Voith GmbH & Co. got contract to manufacture, design, and supply the electromechanical equipment for small hydropower plant named as Kabu 16 in Burundi Africa.

Market Segmentation

Segmentation by Capacity

Up to 1 MW
1-10 MW

Segmentation by Type

Micro Hydropower
Mini Hydropower

Segmentation by Component

Electromechanical Equipment
Turbine
Generator
Other Equipment (includes inlet valves gates, penstock, governors, and auxiliaries)
Electric Infrastructure
Civil Works
Others (includes engineering, structural, management, environmental mitigation, and project development)

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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