Hydropower Market to Exhibit Phenomenal Growth Over 2017-2024

shankar khatkale

Hydropower Market to Exhibit Phenomenal Growth Over 2017-2024

Global hydropower industry is spectating a robust growth path over the years ahead, subject to the fact that clean, sustainable power generation from water, one of the most abundantly available renewable resources, is gaining renewed prominence at the global level. Hydropower is most widely utilized renewable source of power generation. The industry has been a subject of vital importance for advanced research institutes, which have been striving to deploy high capacity products for massive power generation applications, which will subsequently propel hydropower market. As per the IEA (International Energy Agency), hydroelectric held more than 80% of the total renewable energy mix.

Increasing measures to reduce carbon footprints and the escalating demand for reliable power sources have fueled the growth of global hydropower industry. A report by Global Market Insights, states that, Hydropower Market in 2016, was worth more than 1000 GW in terms of volume and is projected to surpass 1300 GW by 2024, expanding at an annual growth rate of 2% over the period 2016-2024.

Germany Hydropower Market Size, By Capacity, 2016 & 2024 (GW)

Based on product capacity, hydropower market is segmented into micro, pico, mini, small, and large hydropower stations. Small Hydropower Market size is expected to grow at 2.5% over 2016-2024, which will augment the overall market trends. This is possible due to the product versatility, reduced investments, and renewable nature. Mini hydropower market contributed to 2% of global hydropower industry share in 2016, owing to its low environmental impact and cost-effective characteristics. Growing investment in electric infrastructure to upgrade to smart off grid networks has further augmented the mini hydropower market. For instance, in 2016, the Government of Malaysia, launched the Sarawak Alternative Renewable Energy Scheme which plans to integrate micro hydro power plants for rural electrification in the region.

In 2016, large hydropower capacity segment accounted more than 80% of overall hydropower industry share, subject to the rigorous deployment of power stations and projects for upgradation. ANDRITZ AG, an Australian company, installed three hydroelectric stations in Brazil and Nicaragua with an aim to provide reliable electricity, by spending USD 75 million collectively.

Several countries of North America, Asia Pacific, and Europe have introduced plans to upgrade, modernize, and renovate their existing stations to ensure more efficient operations. For example, EU Renewable Directive (2009/28/EC) wants all the state members to target at least 20% of the final energy consumption from renewable sources by 2020. In an attempt to follow the EU Renewable Directive, from the total electricity produced in Europe, hydropower accounted more than 13.2% in 2014.

Rapid industrialization and urbanization in China have generated colossal growth opportunities for hydropower industry players, as China plans to invest USD 3.6 billion in Myanmar’s Myistone unit. This will help the Myistone unit to generate 6000 MW of hydropower by 2030. Moreover, in its 13th Five Year Plan, the Government of China announced plans to implement clean energy sources and also proposed the installation of 340 GW of hydropower stations by 2020. The massive growth of global Offshore Hydropower Market is also bound to positively influence the overall industry trends.

In North America, substantial funds have been raised toward developing sustainable energy, which has, in a way complimented the growth of hydropower industry. The abundant availability of natural resources will further help the region to prosper and contribute toward clean and reliable energy sources. In 2016, U.S. hydropower market accounted more than 50% of total regional share and is likely to continue its dominance over the coming years. For the United States, in 2015, Rey Development announced to inject USD 60 million in hydroelectric installation across the region.

The market players are adopting strategies such as mergers and acquisitions to expand their global reach. Some of the key players in the hydropower industry include General Electric, Ontario Power Generation, RusHydro, China Yangtze Power, Agder Energi, China Three Gorges Corporation, Alfa Laval, and Tata Power.

Source: https://www.gminsights.com/industry-analysis/hydropower-market

shankar khatkale

Small Hydropower Market worth $3.0 Billion by 2024

marketsandmarkets 2023-10-04

The global small hydropower market is projected to reach USD 3. These simple civil structures are cheaper than those in large hydropower plants, but they constitute a large share of the total project cost in small hydropower plants. id=63387972 The Mini hydropower segment is expected to lead the small hydropower market during the forecast period. China led the way in installing small hydropower plants for rural electrification. com or follow us on Twitter, LinkedIn and Facebook.

Hydropower Market Is Estimated To Witness High Growth Owing To Increasing Demand for Renewable Energy

Poonam 2023-10-03

The increasing demand for renewable energy and the need to reduce dependence on fossil fuels are driving the growth of the hydropower market. Moreover, government initiatives and investments in hydropower projects, especially in developing economies, are further fueling market growth. Key Takeaways: The global Hydropower Market Growth is expected to witness high growth, exhibiting a CAGR of 5. The increasing demand for clean and renewable energy sources, coupled with supportive government policies, is driving market growth. Key players operating in the hydropower market include General Electric Company, Siemens AG, Andritz AG, Voith GmbH & Co.

The Hydropower Market is Estimated to Witness High Growth Owing to Opportunity of Increasing Demand for Clean Energy Sources

Lucy Kart 2024-02-06

Additionally, growing demand for clean and renewable sources of energy globally is also driving the market growth. Rising global energy demand along with growing environmental concerns has increased focus on developing sustainable and clean energy sources. Opportunity: Increasing global energy demand along with the need for cleaner energy sources and shifting focus toward renewable power presents growth opportunities. Threats: Intermittent nature of hydro resources, cost competitiveness of other renewable energy sources, and risk of cost and schedule overruns pose threats. Key Takeaways Global Hydropower Market Demand is expected to witness high growth over the forecast period of 2024 to 2030.

Hydropower Market Analysis and Forecast Report, 2012 to 2020

susan hill 2018-04-16

Global Hydropower Market capacity is expected to grow to 1,525 GW by 2020.

This has contributed to the development of alternative energy sources such as hydropower.Hydropower does not lead emit greenhouse gases and toxic waste.

The IEA (International Energy Agency) foresees use to hydropower to reduce carbon emissions by about one billion tones, by 2050.Flowing water is readily available due to the natural phenomena of rainfall and snow.

Based on the requirement, turbines are conveniently adjusted to control the flow of water.

These factors are expected to prove favorable for market growth.

A significant part of this growth would be through run-of-river and pumped storage hydropower projects.Browse Details of Report @ https://www.hexaresearch.com/research-report/hydropower-industryHydropower plants vary in generation capacity.

How to Find the Best Electricity Provider In Your Area

Kim Flix 2022-04-07

Some people like to use a smart meter in order to save on their monthly power bills. In this case, they can buy a smart meter instead of a regular meter. A smart meter is connected with all major utility companies, and it has various features. Although a smart meter is connected with all major utility companies, they are not necessarily aware of this fact. By setting use schedules for different appliances, one can easily save electricity and make his environment more sustainable at the same time.

U.S Hydropower Market "2022" Opportunity And Threats Along with Market Conditions

damini 2023-01-01

The Hydropower Market Report gives crucial information that will help to know the competitors better and gain more profit. com/sample/665136The Hydropower market report provides clear judgment about the current and future marketplace, the most contemporary market assessment, and a comprehensive analysis of top vendors, geographical regions, types, and applications. Later on, the report discusses each region separately, to deliver a complete understanding of Hydropower market segmentation. Latest developments, Global Hydropower market shares, and strategies employed by the major market players. This report is fabricated to describe Hydropower Introduction, product types and applications, overall market analysis, opportunities, risks, market driving forces along with the Top company profiles, key business aspects, news, sales, price, revenue and market share.

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It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.

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Moreover, increasing usages of control valves in water & wastewater treatment and energy & power industry applications create substantial market demand.According to Market Research Future (MRFR), the global control valve market is projected to expand exponentially, registering an impressive CAGR throughout the anticipated period (2019-2026).

Without a controlled flow, a pump can quickly suffer severe damages, causing downtime and costly repairs.

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Also, the increasing focus on generating power from renewable energy sources fosters the growth of the regional market.

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