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Hydropower Generation Market is Estimated to Witness High Growth Owing to Rising Investments in Renewable Energy Projects

05-24-2024 01:53 PM CET | Energy & Environment

Press release from: Coherent Market Insights

Hydropower Generation Market

Hydropower Generation Market

Market Overview:

Hydropower generation utilizes the power of flowing water to generate electricity through turbines. It is one of the most widely used forms of renewable energy sources and provides clean electricity to households and industries.

Market Dynamics:

Hydropower generation market is expected to witness significant growth over the forecast period owing to rising investments in renewable energy projects worldwide and favorable government policies supporting clean energy. According to the report, the market size is estimated to surpass US$ xx billion by 2031, expanding at a CAGR of xx% during the forecast period. Two major drivers influencing the growth are: Rising investments in renewable energy projects globally aim to reduce dependence on fossil fuels will propel the demand for hydropower generators. Favorable policy framework in form of tax rebates and financial incentives by governments of various countries for setting up new hydropower plants is helping boost the market.

Climate Change is Likely to Increase Interest in Hydropower Generation

Hydropower is vital for mitigating climate change effects by producing clean renewable energy. Governments worldwide are promoting hydropower to meet climate targets by reducing emissions from fossil fuel-based power generation. As climate change impacts intensify with rising global temperatures, hydropower is expected to play a more critical role in curbing emissions.

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Key Players Covered In This Report:

General Electric (GE) Co., Turbine Generator Maintenance Inc., Toshiba Corporation, Siemens AG, Arani power systems, Elliott Group, TURBOCAM, Doosan Škoda Power, Chola Turbo Machinery International Pvt. Ltd., and Mitsubishi Hitachi Power Systems Americas Inc.

Market Segmantation:

Global Hydropower Generation Market, By Capacity

Small Hydro Power Plant (Above 10MW)
Medium Hydro Power Plant (1MW - 10MW)
Large Hydro Power Plant (Above 10MW)

Key Region/Countries are Classified as Follows:

The following section of the report offers valuable insights into different regions and the key players operating within each of them. To assess the growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered.

The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research. This information is intended to assist readers in determining the potential value of an investment in a particular region.

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ Latin America (Brazil, Argentina, Colombia,.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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Cost Competitiveness is Driving Increased Hydropower Investments

Hydropower is becoming more cost-competitive compared to other renewable sources such as solar and wind power. The construction and operating costs of hydropower projects have declined significantly in recent years due to technological advancements and scale economies. Many existing hydropower plants can generate power at lower costs than new coal and nuclear plants. The competitive generating costs are attracting more private investments in building new hydropower infrastructure worldwide.

Environmental and Social Concerns Pose Challenges to Hydropower Development

While hydropower offers clean energy, large dams can significantly alter river ecosystems and fishing grounds. The submergence of vast forested areas and displacement of local communities also impact the environment and livelihoods. Compliance with stringent environmental regulations increases project costs and delays commissioning of hydropower schemes. Local opposition from environmentalists and affected populations over social and ecological issues has stalled or canceled some large hydropower initiatives globally. Developers must address these socio-environmental concerns proactively to overcome regulatory hurdles.

Growth of Renewable Energy Markets Opens New Opportunities

Stringent climate policies and the global energy transition from fossil fuels to low-carbon sources are driving massive investments in wind, solar and other renewable energy infrastructure. This emerging clean energy economy offers lucrative opportunities for hydropower producers to supply power balancing and storage services. Hydropower assets with reservoirs can complement the intermittent solar and wind power by absorbing excess electricity during high output periods and discharging stored water to ramp up generation when other renewables are offline. The need for balancing renewable energy resources bodes well for hydropower's future prospects.

Rising Hydropower Components Trade Indicates a Growing Industry

The worldwide hydropower industry is witnessing an upsurge in cross-border trade of critical equipment and components such as turbines, generators, valves and electrical devices. Major hydropower exporting nations are ramping up supplies of these critical components to meet the rising global demand from new project developments. The growing international components trade reflects hydropower's increasing importance in the global renewable energy transition. It also signifies the industry's steady structural growth worldwide driven by long-term climate and energy policies.

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Key Benefits For Stakeholders

The report provides an in-depth analysis of the global bromine derivatives market trends along with the current and future market forecast.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
Porter's five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the bromine derivatives industry for strategy building.
A comprehensive global bromine derivatives market analysis covers factors that drive and restrain the market growth.
The qualitative data in this report aims on market dynamics, trends, and developments.
The report answers a number of crucial questions, including:

➥ Which companies dominate the global Hydropower Generation Market?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the market economy globally?

Contact Us:

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
✉ Email: sales@coherentmarketinsights.com
📞United States of America: +1-206-701-6702
📞United Kingdom: +44-020-8133-4027
📞Japan: +050-5539-1737
📞India: +91-848-285-0837

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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