Hydropower Market Size, Share, Value and Global Report 2023-2028

How Big Is the Hydropower Market?

The global hydropower market size reached 1.5 TW in 2022. Looking forward, IMARC Group expects the market to reach 1.6 TW by 2028, exhibiting a growth rate (CAGR) of 1.5% during 2023-2028.

What is Hydropower?

Hydropower, or hydroelectric power, is a form of renewable energy that harnesses the energy of flowing or falling water to generate electricity. It runs by converting the kinetic energy of moving water into mechanical energy, typically through the use of a dam and a turbine. It has low operating costs, the ability to be used as a baseload power source, and the capacity for storage and grid stability. It helps in responsible water management and provides flood control, clean drinking water, and essential backup power during electricity outages. It is utilized to generate, supply, and store clean energy and provide irrigation support to fields and agro-processing activities.

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Global Industry Trends and Drivers:

The increasing adoption of sustainable energy sources and rising environmental concerns associated with fossil fuel consumption represents one of the primary factors driving the demand for hydropower around the world. Moreover, measures undertaken by governing agencies of numerous countries to promote the development and deployment of renewable energy sources, including hydropower, are contributing to the market growth. Apart from this, the integration of industrial internet of things (IIoT) solutions and smart sensors that can provide continuous and high-rate stream data to enhance the operational efficiency by continuously monitoring the levels of energy generated by the plant is influencing the market positively.

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What Is Included In Market 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

Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:

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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