Hydropower Plant Construction Market Trends, Top Companies, Share, Growth And Forecast 2033

The new report published by The Business Research Company, titled "Hydropower Plant Construction Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the hydropower plant construction market size has grown strongly in recent years. It will grow from $18.30 billion in 2023 to $19.60 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The hydropower plant construction market size is expected to see strong growth in the next few years. It will grow to $24.51 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.

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Rising Interest In Clean Energy Fuels Growth Of The Hydropower Plant Construction Market
The rising interest in clean energy is expected to propel the growth of the hydropower plant construction market in the coming years. Clean energy is energy obtained from sources that do not emit greenhouse gases, such as nuclear power, hydroelectric power, solar, geothermal, wind, and tidal energy. The rising adoption of clean energy is due to several factors, including the growing awareness of climate change and environmental degradation, improvements in energy storage, and grid integration capabilities. The construction of hydropower plants makes it easier to generate sustainable energy by leveraging the power of water's movement to generate electricity while releasing zero greenhouse emissions. For instance, in June 2023, according to the Energy Information Administration, a US-based principal government statistical system institution in charge of obtaining, assessing, and distributing energy data, the usage of renewable energy in the United States increased modestly to an all-time high of 13.2 quads in 2022, up from 12.1 quads in 2021. Therefore, the rising interest in clean energy is driving the hydropower plant construction market.

Hydropower Plant Construction Market Embraces Digitization And Automation
Major companies operating in the hydropower plant construction market are focusing on digitization and automation for hydropower plants to strengthen their position in the market. Digital solutions are a collection of devices and applications that use digital technology to meet particular company requirements, such as data analysis, data processing, and operations. For instance, in June 2022, Voith Group, a Germany-based company that constructs hydropower plants, in collaboration with Ray Sono AG, a Germany-based digital solution company, launched the Hydro Pocket, a cloud-based application designed to monitor, analyze, and optimize hydropower stations. Hydro Pocket is a smart, one-stop solution for small to medium-sized hydropower facilities that increases operator efficiency, flexibility, and security. The cloud-based tool handles the system data in a 'smart' way. Maintenance and repair planning is optimized, and problems or unexpected downtime can be eliminated because of the clear picture of assets and support in the form of sophisticated analytical techniques. As a consequence, system management is simplified while communication needs are lowered.

The hydropower plant construction market covered in this report is segmented -

1) By Type: Water Storage, Diverted, Pumped Storage
2) By Capacity: Large hydropower plants, Medium hydropower plants, Small hydropower plants, Other Capacities
3) By Application: City Power Supply, Industrial Power Supply, Military Power Supply, Other Applications

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Major companies operating in the hydropower plant construction market are PowerChina Group, Bouygues Construction SA, Sinohydro Corporation, Vinci Construction, Siemens Energy AG, ABB Group, Duke Energy Corporation, Toshiba Corporation, China Three Gorges Corporation, Strabag SE, Statkraft AS, Skanska Group, Hydro-Québec, Verbund AG, Enel Green Power, Webuild SpA, Dongfang Electric Corporation, Andritz AG, Suez Group, RusHydro, SNC-Lavalin Group Inc., BC Hydro, Voith Group, GE Renewable Energy, Astaldi S.p.A., Bharat Heavy Electricals Limited (BHEL), Alstom SA, Innergex Renewable Energy Inc., Voimaosakeyhtiö SF

Contents of the report:
1. Executive Summary
2. Hydropower Plant Construction Market Report Structure
3. Hydropower Plant Construction Market Trends And Strategies
4. Hydropower Plant Construction Market - Macro Economic Scenario
5. Hydropower Plant Construction Market Size And Growth
…..
27. Hydropower Plant Construction Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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