Global Hydropower Market: China and India Make Asia Pacific Evolving Industry Trends 2023
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As per the projections of the report, the demand in the global small hydropower market will increment at a CAGR of 2.85% during the forecast period of 2015 to 2023, estimated to reach an installed capacity of 146.65 GW before 2023 ends, significantly up from the global capacity of 94.70 GW in 2014. Some of the other key vendors operating in this market are Derwent, Agder Energi, Lanco, Hydro Power, StatKraft, Fortum Oyj, and RusHydro. In the near future, replacement of existing plants and focus on refurbishment is expected to be the common strategy by the leading vendors to increase their company’s operational activities.
Asia Pacific Most Lucrative Region
This report on the global small hydropower market gauges its potential in the regions of North America, Asia Pacific, Europe, the Middle East and Africa, and South and Central America. Currently, Asia Pacific is most profitable region, accounting for more than two third of the global demand for small hydropower in 2014. China was the biggest contributor to this high demand from Asia Pacific, as the country is ranked first among all nations with SHP installations, followed by another populous country of India. Together with Japan, India and China are expected to maintain Asia Pacific as most lucrative region for the vendors of the small hydropower market, gaining traction from government initiatives to promote the green energy alternatives with tax credits and other incentives.
The same year, 2014, Europe was second most profitable region, gaining maximum demand from Italy, wherein large funding is available the installation of small hydropower systems. The country also has strong inclination towards renewable resources of energy with a well-structured energy policy. While economic slowdown is expected to hider the expansion of the SHP market in Europe, North America will continue to provide opportunities for the players, with the U.S. and Canada as most likeable countries.
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Low Investment Cost and Long Life-cycle Driving Demand
Positive outlook on renewable energy, its suitability for rural and remote areas, low capital investment, low generation cost, and increasing electricity consumption owing to escalating population across the globe, are some of the key regions driving the demand in the global small hydropower market. Small hydropower related to the generation of small-scale hydroelectricity power, which serves moderate-sized communities. These systems are efficient and greenhouse gas emission-free renewable sources of electricity that can be used for both off-grid and on-grid applications. Small hydropower systems are constructed on the rivers or existing dams, and comprise turbines, reservoirs, transformers, and generators.
Another prominent factor augmenting the demand in the small hydropower market is its long life-span, of about 50 years, which makes it a reliable investment with economic benefits to go with. As per the TMR author, the maintenance and operation cost of small hydropower is merely 2% to 3% of the overall initial investment, which also prompts adoption significantly. On the other hand, stream expansion limitation and climate and logistics costs are some of the challenges faced by this market.
The information presented in this review is based on a Transparency Market Research report, titled, “Small Hydropower Market, by Installed Capacity - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023.”
Key Segments of the Global Small Hydropower Market
Small Hydropower Market: By Region
Middle East and Africa
South and Central America
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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