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Hydropower Plant Construction Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis
Hydropower Plant Construction Market
What Is the Current Hydropower Plant Construction Market Size and Its Estimated Growth Rate?
The market size for the construction of hydropower plants has seen significant expansion in the past few years. It's projected to escalate from $19.6 billion in 2024 to $20.92 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.7%. This growth rate during the historical period is likely due to factors such as rural electrification, governmental regulations, and heightened awareness about environmental and water management issues.
The market for building hydropower plants is predicted to experience robust expansion in the coming years. It is projected to attain a valuation of $25.78 billion by 2029, with a compound annual growth rate (CAGR) of 5.4%. Several factors influence this projected growth in the forecast period including renewable energy legislations, counteracting climate change, updating power grids, integrating energy storage, and managing water resources. Significant trends anticipated to shape this period involve the installation of run-of-river systems, the development of hybrid systems, repowering and upgrading initiatives, collaborations between public and private sectors, and climate resilience.
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How Are Emerging Segments Shaping the Hydropower Plant Construction Market Landscape?
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
Subsegments:
1) By Water Storage: Reservoir-Based Hydropower Plants, Impoundment Hydropower Plants
2) By Diverted: Run-Of-River Hydropower Plants, Canal-Based Hydropower Plants
3) By Pumped Storage: Conventional Pumped Storage Hydropower Plants, Closed-Loop Pumped Storage Systems
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Which Growth Factors Are Influencing Hydropower Plant Construction Market Expansion?
With the growing interest towards clean energy, it is anticipated that the hydropower plant construction market will flourish in the upcoming years. Clean energy includes energy derived from emission-free sources such as nuclear power, hydroelectric power, solar, geothermal, wind, and tidal energy. Numerous factors are responsible for the surge in the adoption of clean energy, including the increasing public cognizance of climate change and environmental deterioration, advancements in energy storage and grid integration capabilities. Building hydropower plants simplifies the process of generating eco-friendly energy by harnessing the kinetic energy of water to create electricity without emitting any greenhouse gases. For example, data from the Energy Information Administration, a leading governmental authority responsible for compiling, evaluating, and disseminating energy data, indicated that the usage of renewable energy in the US saw a slight rise, reaching a record high of 13.2 quads in 2022, as of June 2023. Hence, the burgeoning interest in clean energy is propelling the hydropower plant construction market.
Who Are the Dominant Players Across Different Hydropower Plant Construction Market Segments?
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
What Hydropower Plant Construction Market Trends Are Gaining Traction Across Different Segments?
Leading firms in the hydropower plant construction industry are enhancing their market position through digitization and automation of hydro plants. Digital solutions, which are an assembly of devices and software applications using digital tech, are designed to satisfy specific organizational needs such as data analytics, data processing, and operations. For instance, Voith Group, a German company specializing in hydropower plant construction, collaborated with Ray Sono AG, a German-based digital solutions firm, to introduce Hydro Pocket in June 2022. This cloud-based application is designed to supervise, study, and fine-tune hydropower stations. Hydro Pocket, being a smart comprehensive solution for small to medium-sized hydropower facilities, elevates operator efficiency, adaptability, and security. The cloud-based instrument smartly manages system data. By providing clear asset insights and advanced analytical support, it facilitates optimized scheduling of maintenance and repairs and helps circumvent issues or unanticipated downtime. As a result, system administration becomes easier and communication requirements are reduced.
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Which Geographic Regions Are Expected to Dominate the Hydropower Plant Construction Market in the Coming Years?
Asia-Pacific was the largest region in the hydropower plant construction market in 2024. The regions covered in the hydropower plant construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hydropower Plant Construction Market?
2. What is the CAGR expected in the Hydropower Plant Construction Market?
3. What Are the Key Innovations Transforming the Hydropower Plant Construction Industry?
4. Which Region Is Leading the Hydropower Plant Construction Market?
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