The hydropower market size is projected to reach USD 3.2
Billion by 2027 from an estimated USD 2.6 Billion in 2019, growing at a CAGR of
2.33% globally.
Hydropower
is a renewable energy source that harnesses the power of moving water to
produce electricity. Large-scale hydropower projects typically involve dams.
Run-of-river and tidal projects also harness the power of moving water to
generate renewable electricity. A hydropower dam converts the potential energy
stored in a water reservoir behind a dam to mechanical energy—mechanical energy
is also known as kinetic energy. As the water flows down through the dam its
kinetic energy is used to turn a turbine. The generator converts the turbine’s
mechanical energy into electricity. This electric energy then goes through
various transmission processes before it reaches the consumer.
The global hydropower generation
market is primarily driven by the growing demand for clean energy across the
globe. Rapid industrialization and urbanization, especially in developing
countries such as China and India, have led to a surge in demand for electricity.
In order to reduce the dependency on fossil fuels for power generation and the
initiatives launched by the government of various countries such as the U.S.,
Germany, India, Japan, and China to reduce their carbon footprint have led to a
surge in demand for renewable energy sources for power generation. Owing to
this, various hydropower generation projects have been established across the
globe especially in Asia-Pacific to meet the growing renewable power demand.
The Major Players In The Hydropower
Market Include:
General Electric Company, Siemens
AG, Andritz AG, Voith GmbH & Co. KGaA, China Yangtze Power Co. Ltd, PJSC
RusHydro, Électricité de France SA (EDF), Iberdrola SA
Market has segmented the global
Hydropower market on the basis of type, application, and region:
The Hydropower market is segmented
by type and application. Growth between segments over the period 2022-2028
provides accurate calculations and forecasts of revenue by type and application
in terms of volume and value. This analysis can help you expand your business
by targeting eligible niches.
By Type:
Large Hydropower (Scope:
>100 MW), Small Hydropower (Scope:, Other Sizes (Scope: 10-100 MW)
By Regional Outlook (Revenue, USD
Billion, 2017 – 2028)
Covid-19 Impact and Recovery
Analysis on Industry:
The COVID-19 pandemic has had
devastating effects on several industry verticals globally. To constrain the
number of cases and slow the coronavirus spread, various public health
guidelines were implemented in different countries across the globe. COVID-19
protocols range from declaring national emergency states, enforcing
stay-at-home orders, closing nonessential business operations and schools,
banning public gatherings, imposing curfews, distributing digital passes, and
allowing police to restrict citizen movements within a country, as well as
closing international borders. With the growing vaccination rate, governments
are uplifting the protocols to give a boost to the stagnant economy. Like other
industries, Hydropower Market has experienced slow down growth, however, the
market is expected to bounce back as restrictions are being lifted up by
governments across the globe.
The report covered the major key
points: