Hydropower Market – Global Industry Analysis and Forecast (2024-2030)

Hydropower Market size was valued at US $ 254.55 Bn in 2023 and the total revenue is expected to grow at 5.9% through 2024 to 2030, reaching nearly US $ 380.23 Bn.
Hydropower Market Overview:
It is conceivable to generate enough clean energy to meet a major amount of the world's continuously expanding energy demand by properly utilizing the large exploitable supplies of Hydropower around the world. It is still the most important source of renewable energy in the United States, and several other countries are stepping up their efforts to keep up with breakthroughs in the sector. Hydropower is now used in over 100 nations worldwide, accounting for roughly 15% of the world’s largest overall energy supply.

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Hydropower Market Dynamics:
The rising global need for renewable energy is driving the global Hydropower business. Power demand has increased as a result of rapid industrialization and urbanization, especially in developing countries such as China and India. To limit the use of fossil fuels for power generation, and as a result of government initiatives in many countries such as the United States, Germany, India, Japan, and China to reduce carbon footprint, there has been an increase in demand for renewable energy sources for power generation. As a result, many Hydropower producing projects have been developed around the world, particularly in Asia-Pacific, to supply the growing need for renewable energy.

Also, the market expansion is likely to be driven by rising demand for greener power production technologies and tight emission laws. Furthermore, the International Energy Agency reports that Hydropower is the most important source of renewable power generation, contributing to 60.7 percent of global renewable energy power generation in 2022. Hydropower and demand are estimated to increase during the forecast period due to the assessment of new Hydropower plants and the increasing demands for renewable energy.

However, the demand for large investment and operational expenditures, as well as extended gestation periods, limits the growth of the global Hydropower industry. Also, rising demand for renewable energy and a spike in Hydropower installation capacity in developing economies such as China and India are estimated to contribute new potential possibilities for the market throughout the forecast period.
Hydropower Market Segment Analysis:
The global hydropower market is segmented by Capacity and Application.

Based on the Capacity, the global hydropower market is segmented into Small Hydro Power Plant (Up to 1MW), Medium Hydro Power Plant (1MW - 10MW), and Large Hydro Power Plant (Above 10MW). The large hydropower plant (Above 10MW) segment held the largest market share of xx% in 2023. During the forecast period, variables such as higher efficiency, long life duration, lower maintenance and operation costs, and high dependability are likely to drive demand for big hydropower plants (above 10MW). Also, forthcoming hydroelectric projects, as well as plans to improve hydropower infrastructure in developing nations, are expected to enhance the growth of the hydropower industry in the coming years.
Regional Insights:
The Asia Pacific dominates the global hydropower market during the forecast period 2024-2030. China developed as the single highest hydropower manufacturing country in the globe and held the largest market share of xx% in 2023. Excluding, quick capability addition in China also makes it an advantageous station for hydropower creation. China alone records for more than half of the complete hydro capability implemented in the year 2023 to meet its increasing demand. The Hydropower market is also increased by different government devices like Feed-I-Tariffs and Sustainable portfolio norms.

North America is also estimated to reveal captivating development prices throughout the forecast period due to the establishment of advantageous rules. India has one of the highest quantities of Hydropower perspectives in the world. On the other hand, the government is taking advantage to use the predicted prospective in different undiscovered zones. The U.S has passed the hydroelectricity administrative planning act and compact channel Hydropower growth and hinterland jobs act which is estimated to force the capability of Hydropower in the country. The act aims to grow new or surviving Hydropower capability to unseal the unused market perspective. There is a growth of modern Hydropower, which has been developed by enormous expenditure in zones, particularly Africa, South America, and Asia. The highest Hydropower plants have been functional around the world for over three years and are estimated to carry on with a remarkable share of the world's complete Hydropower creation capacity.

The objective of the report is to present a comprehensive analysis of the global Hydropower Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the global Hydropower Market dynamic, structure by analyzing the market segments and project the global Hydropower Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Hydropower Market make the report investor’s guide.
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Hydropower Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 254.55 Bn.


Forecast Period 2024 to 2030 CAGR:
5.9%
Market Size in 2030:
US $ 380.23 Bn.


 Segments Covered:
by Capacity
Small Hydro Power Plant(Upto 1 MW)
Medium Hydro Power Plant(1MW to 10 MW)
Large Hydro Power Plant (Above 10 Mw)


by Application
Residential
Commercial
Industrial


by Energy
Above 100 MW
Under 10 MW
Others


by Component
Civil Construction
Electromechanical Equipment
Electric
Power Infrastructure
Others



Hydropower Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players
1. GE Energy
2. CPFL Energia S.A
3. Sinohydro Corporation
4. Andritz AG
5. IHI Corporation
6. Alstom Hydro
7. China Hydroelectric Corporation
8. China Three Gorges Corporation
9. ABB Ltd.
10. Gerdau S.A
11. The Tata Power Company
12. OJSC Bshikirenergo
13. EDP Energias do Brasil
14. Companhia Energetica de Minas Gerais
15. Duke Energy Corp

Frequently Asked Questions:

1] What segments are covered in the Hydropower Market report?
Ans. The segments covered in the hydropower market report are based on Capacity, Application, Energy, and Component.

2] Which region is expected to hold the highest share in the global Hydropower Market?
Ans. The Asia Pacific is expected to hold the highest share in the global hydropower market.

3] What is the market size of the global Hydropower Market by 2030?
Ans. The market size of the global hydropower market by 2030 is US $ 380.23 Bn.

4] Who are the top key players in the global Hydropower Market?
Ans. GE Energy, CPFL Energia S.A, Sinohydro Corporation, Andritz AG, IHI Corporation, and Alstom Hydro are the top key players in the global hydropower market.

5] What was the market size of the global Hydropower Market in 2023?
Ans. The market size of the global hydropower market in 2023 was US $ 254.55 Bn.