The hydropower global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Hydropower Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The hydropower market size has grown strongly in recent years. It will grow from $230.39 billion in 2023 to $245.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to industrial revolution, government policies, environmental concerns, energy security.
The hydropower market size is expected to see strong growth in the next few years. It will grow to $303.85 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to energy transition, renewable energy policies, climate change adaptation, water resource management. Major trends in the forecast period include modernization of existing infrastructure, hybrid hydropower systems, small-scale and micro hydropower, digitalization and smart grid integration.
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Scope Of Hydropower Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Hydropower Market Overview
Market Drivers –
The rising demand for electricity is expected to propel the growth of the hydropower market going forward. Electricity is a form of energy resulting from the movement of charged particles, typically electrons. The increasing digitization of several sectors, including communication, information technology, and smart technologies, leads to a higher need for electricity to power servers, data centers, and communication networks. Hydropower is a renewable energy source, relies on the continuous flow of water, which is replenished by natural processes such as rainfall and snowmelt. This makes hydropower a sustainable and environmentally friendly option for electricity generation. For instance, in 2022, according to the data published by Our World in Data, a UK-based scientific online publication organization, US electricity demand increased from 4,192.9 TWh (terawatt-hour) in 2021 to 4,338.1 TWh (terawatt-hour) by 2022. Therefore, the rising demand for electricity is driving the growth of the hydropower market.
Market Trends –
Major companies operating in the hydropower market are concentrating on the development of innovative products, such as VETT-in-a-Box, to address the need for cost-effective, easily deployable, and environmentally friendly microhydropower solutions. This product is a microhydropower system designed for easy installation and can generate electricity from small rivers, wastewater outflows, lock gates, or canals with a two-meter head drop. For instance, in February 2022, VerdErg Renewable Energy Limited, a UK-based renewable energy company, launched VETT-in-a-Box, a new micro-hydropower system to produce clean, decentralized energy with high load factors, further contributing to its innovative and impactful nature. It is a complete mini-hydropower system in a transportable arrangement, offering quick installation and ease of use. VETT-in-a-Box can be installed directly into the water course or adjacent to it for flow rates of 500–2,000 liters per second (l/s). Additionally, this system is fish-safe, with proven zero fish mortality, and produces clean, decentralized, predictable energy with high load factors from water at no environmental cost.
The hydropower market covered in this report is segmented –
1) By Type: Large Hydropower, Small Hydropower
2) By Component: Civil Construction, Electromechanical Equipment, Electric, Power Infrastructure, Others Components
3) By Application: Residential, Commercial, Industrial
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Regional Insights –
Asia-Pacific was the largest region in the hydropower market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydropower market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the hydropower market are Électricité de France S.A., Siemens AG, General Electric Company, Iberdrola S.A., ABB Ltd., Georgia Power Company, Duke Energy Corporation, Vattenfall AB, ALSTOM Holdings, Statkraft AS, Hydro-Québec, Verbund AG, China Yangtze Power Co. Ltd., Andritz AG, China Three Gorges Corporation, Tata Power Company Limited, Ontario Power Generation Inc., Alfa Laval AB, BC Hydro and Power Authority, Brookfield Renewable Partners L.P., Voith GmbH & Co. KGaA, Bharat Heavy Electricals Limited (BHEL), Agder Energi AS, Gilbert Gilkes & Gordon Limited, HydroChina International Engineering Co. Ltd.
Table of Contents
1. Executive Summary
2. Hydropower Market Report Structure
3. Hydropower Market Trends And Strategies
4. Hydropower Market – Macro Economic Scenario
5. Hydropower Market Size And Growth
…..
27. Hydropower Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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