Press release
Key Trend Reshaping the Hydropower Market in 2025: Innovative Product Development Driving Accessibility And Adoption In The Hydropower Industry
Hydropower Market Insights
The hydropower market will grow from $245.91 billion in 2024 to $261.7 billion in 2025, reflecting a CAGR of 6.4%. This growth is attributed to the industrial revolution, government policies, environmental concerns, and the focus on energy security.
The Hydropower market is projected to reach $318.48 billion by 2029 at a CAGR of 5.0%. Growth is driven by renewable energy policies and water resource management. Trends include infrastructure modernization, hybrid hydropower systems, and digitalization with smart grids.
What Are the Main Catalysts for Growth in the Hydropower Market?
The growing demand for electricity is expected to drive the growth of the hydropower market in the future. Electricity is energy generated by the movement of charged particles, usually electrons. As sectors such as communication, information technology, and smart technologies continue to digitize, there is a rising need for electricity to power servers, data centers, and communication networks. Hydropower, a renewable energy source, relies on the continuous flow of water, which is naturally replenished by rainfall and snowmelt. This makes hydropower a sustainable and environmentally friendly option for electricity generation. For example, according to Our World in Data, a UK-based scientific publication, US electricity demand rose to 4,338.1 terawatt-hours (TWh) in 2022. Therefore, the rising demand for electricity is fueling the growth of the hydropower market.
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Which Businesses Are at the Forefront of Hydropower Market Development?
Major companies operating in the hydropower market are Électricité de France S.A., Siemens AG, General Electric Company, Iberdrola S.A., ABB Ltd., Georgia Power Company, Duke Energy Corporation, Vattenfall AB, ALSTOM Holdings, Statkraft AS, Hydro-Québec, Verbund AG, China Yangtze Power Co. Ltd., Andritz AG, China Three Gorges Corporation, Tata Power Company Limited, Ontario Power Generation Inc., Alfa Laval AB, BC Hydro and Power Authority, Brookfield Renewable Partners L.P., Voith GmbH & Co. KGaA, Bharat Heavy Electricals Limited (BHEL), Agder Energi AS, Gilbert Gilkes & Gordon Limited, HydroChina International Engineering Co. Ltd.
What Are the Latest Innovations in the Hydropower Market?
In the hydropower market, companies are focusing on products like VETT-in-a-Box, a micro-hydropower system designed for easy installation and environmentally friendly energy generation. For example, in February 2022, VerdErg Renewable Energy Limited, a UK-based renewable energy company, launched VETT-in-a-Box, a portable micro-hydropower system. This system generates clean, decentralized energy from small rivers or canals and is designed to be fish-safe and environmentally sustainable. It can be quickly installed, offering a cost-effective, renewable energy solution for remote areas.
How Is the Hydropower Market Segmented?
The hydropower market covered in this report is segmented -
1) By Type: Large Hydropower, Small Hydropower
2) By Component: Civil Construction, Electromechanical Equipment, Electric, Power Infrastructure, Others Components
3) By Application: Residential, Commercial, Industrial
Subsegments:
1) By Large Hydropower: Reservoir-Based Hydropower, Run-Of-River Hydropower (Large-Scale)
2) By Small Hydropower: Micro Hydropower (Up To 100 KW), Mini Hydropower (100 KW To 1 MW), Small Hydropower (1 MW To 10 MW)
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Where Is the Hydropower Market Growth Most Prominent?
Asia-Pacific was the largest region in the hydropower market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydropower market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Hydropower Global Market Report?
- Market Size Analysis: Analyze the Hydropower Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Hydropower Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Hydropower Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Hydropower Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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