Overview and Scope
Hydroelectricity refers to a renewable source of energy that generates power by using a dam or diversion structure to alter the natural flow of a river or other body of water. Hydropower stations convert the kinetic energy of flowing or falling water into electrical energy, which is provided to power transmission systems.
Sizing and Forecast
The hydro electricity market size has grown strongly in recent years. It will grow from $318.98 billion in 2023 to $336.28 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to growth in early industrialization and power generation, large-scale dam construction, rural electrification programs, world wars and energy demands, deregulation and market reforms.
The hydro electricity market size is expected to see steady growth in the next few years. It will grow to $400.49 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to renewable energy targets, storage solutions integration, hydropower in climate resilience strategies, investment in infrastructure, policy support and incentives. Major trends in the forecast period include hydropower in climate mitigation strategies, community and stakeholder engagement, hydropower as baseload power, grid modernization and integration, hydropower expansion in developing countries.
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Segmentation & Regional Insights
The hydro electricity market covered in this report is segmented –
1) By Product Type: Dike Type, Diversion Hydropower Station, Mixed Type, Tide, Pumped Storage
2) By Capacity: Large, Medium, Small
3) By Application: Residential, Commercial, Industrial
Asia-Pacific was the largest region in the hydroelectricity market in 2023. Western Europe was the second-largest region in the global hydroelectricity market share. The regions covered in the hydro electricity market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Favorable laws in emerging countries are projected to drive the hydroelectricity market. Governments across the globe are introducing policies that aid the growth of the hydroelectricity market. For instance, in January 2021, according to the Business Standard newspaper, the Government of India cleared 8 hydropower projects of 144 MW. The introduction of favorable laws will boost the demand for hydropower and, in turn, drive the growth of the hydro electricity market.
Key Industry Players
Major companies operating in the hydro electricity market report are Midea Group, Hitachi Ltd., Panasonic Corporation, Haier Group, Specialty Refrigeration and Equipment, Daikin Global, Gree Electric Appliances Inc., Johnson Controls International PLC, Carrier Corporation, Whirlpool Corporation, Illinois Tool Works Inc., Electrolux AB, Snow River Chillers, Fukushima Galilei Co. Ltd., Lotte Engineering & Machinery Mfg. Co., Dover Corporation, Ingersoll-Rand PLC, GEA Group AG, Hoshizaki Corporation, Blue Star Limited, Standex International Corporation, Arneg S.p.A, Paul Mueller Company, Bitzer, Innovative DisplayWorks, Baltimore Aircoil Company, Structural Concepts Corporation, Zhongshan Aochi Refrigeration Equipment Co. Ltd., Mokon Chillers, Blue Air, Frigoglass SAIC, Cold Shot Chillers, RTF Manufacturing
The hydro electricity market report table of contents includes:
1. Executive Summary
2. Hydro Electricity Market Characteristics
3. Hydro Electricity Market Trends And Strategies
4. Hydro Electricity Market – Macro Economic Scenario
5. Global Hydro Electricity Market Size and Growth
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31. Hydro Electricity Market Other Major And Innovative Companies
32. Global Hydro Electricity Market Competitive Benchmarking
33. Global Hydro Electricity Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hydro Electricity Market
35. Hydro Electricity Market Future Outlook and Potential Analysis
36.Appendix
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