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Small Hydropower Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Small Hydropower Market
The Business Research Company presents an extensive market research report on the Small Hydropower Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The small hydropower market size has grown steadily in recent years. It will grow from $2.94 billion in 2023 to $3.04 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to large supply of water resources, rural electrification, environmental concerns, versatility and low investment costs, financial incentives.
The small hydropower market size is expected to see steady growth in the next few years. It will grow to $3.38 billion in 2028 at a compound annual growth rate (CAGR) of 2.7%. The growth in the forecast period can be attributed to increasing demand for clean energy, increase in greenhouse gas emissions, increase in the production of energy from renewable,increasing installation of small hydropower plants, increase industrialisation. Major trends in the forecast period include integration of iot with hydropower, adoption of digital technologies, technological advancements, geographical expansion.
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Key Market Players:
Major companies operating in the small hydropower market report are General Electric, Siemens Energy, Toshiba Corporation, ANDRITZ, SNC Lavalin Group, Voith GmbH & Co. KGaA, Mavel, a.s., Flowserve Corporation, BHEL, Kolektor Turboinstitut, FLOVEL Energy Private Limited, Mannvit Engineering, VAPTECH, Canyon Hydro, Ganz EEM, ATB Riva Calzoni, Natel Energy, Inc., Canadian Hydro Components, Hitachi Mitsubishi Hydro, B Fouress, HydroCoil Power, Hydro Green Energy, Rentec Renewable Energy Technologies, Gilkes Hydro
Market Drivers:
Increasing demand for clean energy is expected to propel the small hydropower market going forward. Clean energy refers to energy sources and technologies with minimal or no negative environmental impact, particularly regarding greenhouse gas emissions and air pollution. Small hydropower systems generate electricity without emitting greenhouse gases or air pollutants during operation, contributing to cleaner air and a lower carbon footprint. For instance, in May 2022, according to the International Energy Agency, a France-based intergovernmental organization, the global renewable capacity is expected to increase by 8% from 295 gigawatts in 2021 to 320 gigawatts in 2022. Therefore, the increasing demand for clean energy is driving the small hydropower market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/small-hydropower-global-market-report
The small hydropower market covered in this report is segmented -
1) By Type: Micro Hydropower, Mini Hydropower
2) By Capacity: Up to 1 MW, 1-10 MW
3)By Application: Civil Construction, Power Infrastructure, Other Applications
4) By End-User: Commercial, Utility-Scale
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