Press release
Hydro Electricity Global Market Size, Growth, Share, Regional Prospects, New Opportunities and Forecast 2033 | Midea Group, Hitachi Ltd., Haier Group, Daikin Global, GEA Group AG
Hydro Electricity Global Market
The hydro electricity market size is expected to see steady growth in the next few years. It will grow to $400.49 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to renewable energy targets, storage solutions integration, hydropower in climate resilience strategies, investment in infrastructure, policy support and incentives. Major trends in the forecast period include hydropower in climate mitigation strategies, community and stakeholder engagement, hydropower as baseload power, grid modernization and integration, hydropower expansion in developing countries.
Market Overview -
Hydroelectricity refers to a renewable source of energy that generates power by using a dam or diversion structure to alter the natural flow of a river or other body of water. Hydropower stations convert the kinetic energy of flowing or falling water into electrical energy, which is provided to power transmission systems.
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Favorable Laws In Emerging Countries Fueling Growth In The Hydroelectricity Market
Favorable laws in emerging countries are projected to drive the hydroelectricity market. Governments across the globe are introducing policies that aid the growth of the hydroelectricity market. For instance, in January 2021, according to the Business Standard newspaper, the Government of India cleared 8 hydropower projects of 144 MW. The introduction of favorable laws will boost the demand for hydropower and, in turn, drive the growth of the hydro electricity market.
Competitive Landscape -
Major companies operating in the hydro electricity market report are Midea Group, Hitachi Ltd., Panasonic Corporation, Haier Group, Specialty Refrigeration and Equipment, Daikin Global, Gree Electric Appliances Inc., Johnson Controls International plc, Carrier Corporation, Whirlpool Corporation, Illinois Tool Works Inc., Electrolux AB, Snow River Chillers, Fukushima Galilei Co. Ltd, Lotte Engineering & Machinery Mfg. Co., Dover Corporation, Ingersoll-Rand Plc, GEA Group AG, Hoshizaki Corporation, Blue Star Limited, Standex International Corporation, Arneg S.p.A, Paul Mueller Company, Bitzer, Innovative DisplayWorks, Baltimore Aircoil Company, Structural Concepts Corporation, Zhongshan Aochi Refrigeration Equipment Co. Ltd, Mokon Chillers, Blue Air, Frigoglass SAIC, Cold Shot Chillers, RTF Manufacturing
Nhpc Ltd. Collaborates With Vidhyut Utpadan Company Ltd. To Enhanced Productivity In The Hydroelectricity Market
Major companies operating in the hydroelectricity market are focusing on the development of strategic initiatives to develop the 480 MW Phukot hydro project to help increase productivity and sustain their position in the market. For instance, in June 2023, NHPC Ltd., an India-based hydropower company, partnered with Vidhyut Utpadan Company Ltd. is a Nepal-based hydropower company to develop a 480 MW Phukot Karnali hydroelectric project. The Karnali River flow will be used to generate power for the project, and the generated power will be supplied into Nepal's integrated power system. The installed capacity of the project will be 480 MW, with an average annual generation of about 2,448 GWh. Vidhyut Utpadan Company Ltd. is a Nepal-based hydropower company.
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Key Segments -
The hydro electricity market covered in this report is segmented -
1) By Product Type: Dike Type, Diversion Hydropower Station, Mixed Type, Tide, Pumped Storage
2) By Capacity: Large, Medium, Small
3) By Application: Residential, Commercial, Industrial
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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