The global hydropower market reached a volume of 1.42 TW in 2021. Looking forward, IMARC Group expects the market to reach a volume of 1.57 TW by 2027, exhibiting a CAGR of 1.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Hydropower refers to the electrical energy generated by converting kinetic energy from water bodies, such as rivers, waterfalls and oceans. Various turbine-based power stations are positioned on the riverbed through which electricity is produced using a generator. Hydropower operates through dams with seasonal storage or through pumped-storage reversible plants that can be used for both the generation and transmission of energy. Run-of-river, storage, pumped-storage, and offshore hydropower are the most commonly used hydropower technologies. These technologies are environment-friendly and emit minimal greenhouse gas (GHG) during the generation of power.
Hydropower Market Trends:
The growing demand for sustainable sources of energy, along with rapid industrialization across the globe, is one of the key factors driving the growth of the market. In comparison to the energy produced from the traditional coal and petroleum-based power plants, hydropower is more reliable, cleaner and cost-effective. Furthermore, widespread adoption of small hydropower (SHP) plants is also providing a boost to the market growth as these plants are highly flexible and adaptable to dynamic geographical and infrastructural circumstances, especially in areas with poor grid connectivity. Various technological advancements, such as integration with the Industrial Internet of Things (IIoT) solutions, are also acting as another growth-inducing factor. The integration facilitates the utilization of smart sensors that can provide continuous and high-rate stream data to enhance the operational efficiency by continuously monitoring the levels of energy generated by the plant. Other factors, including the rising global population impacting the energy demands and the implementation of favorable government policies promoting the usage of renewable sources of energy, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hydropower market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on size and application.
Breakup by Size:
Large Hydropower (Greater Than 100 MW)
Small Hydropower (Smaller Than 10 MW)
Breakup by Application:
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., American Hydro Corporation (W?rtsil? Oyj Abp), Andritz AG, China Yangtze Power Co. Ltd. (China Three Gorges Corporation), Companhia Energ?tica de Minas Gerais, ?lectricit? de France S.A., General Electric Company, Iberdrola S.A., RusHydro, Siemens Energy AG, Tata Power Company Limited and Voith GmbH & Co. KGaA.
Key questions answered in this report:
How has the global hydropower market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global hydropower market?
What are the key regional markets?
What is the breakup of the market based on the size?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global hydropower market and who are the key players?
What is the degree of competition in the industry?