Hydropower Market 2021: Industry Demand, Insight & Forecast By 2028

2022-04-26 07:37:19 UTC | Electronics & Semiconductors
Hydropower Market 2021: Industry Demand, Insight & Forecast By 2028

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:

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