Press release
Small Hydropower Market size to exceed 145 GW by 2024
Small Hydropower Market size by installation was 115.16 GW in 2015, as per the latest research report by Global Market Insights, Inc. Rising domestic electricity consumption demand owing to population growth coupled with need to reduce dependency on conventional energy sources may enhance global small hydropower market growth.Request for a sample of this research report @ http://bit.ly/1XGzHyJ
Rising environmental concerns pertaining to GHG emission and favorable regulatory policies to promote small hydropower in remote areas as a sustainable energy generation are promising trend to positively influence industry demand.
Asia dominated the global electricity consumption accounted at over 40% of the total demand in 2015. Availability of potential sites coupled with presence of skilled labor is forecast to favor China and India small hydropower market growth. Vietnam small hydropower market is set to gain at over 6.5% CAGR up to 2024. Dense rivers with more than 2000 streams & rivers with length of over 9 km are the favorable natural assets to build SHP plant.
U.S. dominated the North America small hydropower market size, with installed capacity of 6.98 GW in 2015. Regulatory compliances by FERC to encourage renewable energy production accompanied by need to supply electricity in non-grid connectivity areas should positively influence market growth.
Growth in BRICS economy, and government efforts to supply electricity in remote areas. Supply issues in locations with no grid availability will open up opportunities for small hydropower plants. France is set to grow at more than 3% CAGR up to 2024. Efforts by various authorities such as European Small Hydropower Association (ESHA) to promote SHP are expected trending factor to fuel regional demand.
Africa small hydropower market share is forecast to grow at 3.9% CAGR up to 2024. The country owns immense untapped hydropower potential but government does not have enough capital to build plant itself. Foreign investment is among the key initiative to enhance industry growth.
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Line stability, high lighting intensity, load shedding, inadequate equipment to compatible with old infrastructure may hinder small hydropower industry evolution. Another challenge is the existing substation, where the plant can be interconnected owing to houses and buildings are built nearby with no provisions was made for expansion.
To build a SHP plant it is essential to have an available & sustainable water stream within few hundred feet from the energy consumers. Logistics cost owing to less connectivity with the main city are expected challenging factors.
Key insights from the report include:
Global small hydropower market size is forecast to reach 146.33 GW by 2024, growing at 2.7% CAGR up to 2024.
APAC, predominant by China, Japan, & India led the regional industry with total installations around 83.65 GW in 2015.
North America, dominated by the U.S. small hydropower market size, forecasts installations of more than 14 GW by 2024.
Europe, led by Italy is estimated to gain at 2.3% CAGR up to 2024. Rising trend to refurbish or renew existing hydro plants may positively drive regional demand.
Brazil dominated the South & Central America SHP demand and is set to reach 6.73 GW installations by 2024. Growing manufacturing industries accompanied by huge hydro potential site owing to Amazon river should fuel regional industry growth.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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