Hydropower generation refers to generating electricity from hydropower or water power which involves converting kinetic energy of flowing or falling water into electric power. Hydroelectric power plants use the energy from flowing water to spin turbines which are connected to generators that produce electricity. Hydropower is a renewable and reliable source of energy which produces zero direct emissions. It can generate large-scale power for industry and communities and is available across most parts of the world. The Global Hydropower Generation Market is estimated to be valued at US$ 290.3 Mn in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the hydropower generation are Adeka Corporation, BASF SE, Chitec Technology Co. Ltd, Clariant, Evonik Industries AG, PMC Group, Polyvel Inc., SABO SpA, SK Capital Partners, Solvay, and Songwon. These players are involved in the development and commercialization of sustainable concrete admixtures and cement admixtures for hydropower projects. The increasing investments towards renewable energy coupled with supportive government policies are fueling the demand for hydropower generation across the globe. Technological advancements such as development of cheaper, efficient turbines and decentralized hydropower models are further propelling the market growth.
Market Trends
Decentralized hydropower model is gaining popularity globally as it helps in tapping the untapped hydropower potential in remote areas. This distributed renewable energy model promotes energy access in rural areas. Adoption of sophisticated turbomachinery and equipment is enhancing the operational efficiency and power output of hydropower plants. Advanced turbine technologies like pumped storage hydropower and containerized hydro help optimize hydropower generation performance.
Market Opportunities
Emerging economies in Asia Pacific and Latin America regions offer immense opportunities owing to rising investments in renewable energy sector. Development of innovative pumped storage technologies can effectively complement intermittent renewable sources like solar and wind. Integrating artificial intelligence and IoT can enable remote monitoring of assets and predictive maintenance of hydropower infrastructure.
Impact of COVID-19 on Hydropower Generation Market
The outbreak of COVID-19 pandemic had a significant impact on the global Hydropower Generation Market Demand Due to nationwide lockdowns imposed to curb the spread of the virus, construction activities and new project development faced delays in 2020. This hampered the growth of the market during the initial months of pandemic. However, hydropower production being an essential service continued its operations with revised safety measures and protocols. With the easing of lockdowns from mid-2020, the market has started rebounding again.
The post-COVID scenario looks promising for hydropower generation. Governments across major countries are providing incentives and subsidies to promote renewable energy sources including hydropower for achieving green recovery. Investments in building new hydropower plants, upgrading the existing infrastructure, and expanding transmission networks would help create job opportunities and accelerate economic activities. Considering the low operational cost and zero emissions attributes, hydropower is expected to play a vital role to meet the increasing power demand as various industries resume operations. At the same time, developers need to focus on timely completion of projects and efficient long-term planning to overcome delays caused during pandemic.
Asia Pacific Hydropower Generation Market
The Asia Pacific region holds the largest share of the global hydropower generation market in terms of value. Abundant water resources along with high power demands from rapidly growing economies such as China, India and Southeast Asian countries make Asia Pacific a highly attractive market. China dominates hydropower capacity addition in the region and beyond. Other major markets include India, Japan, Indonesia and Vietnam where governments are promoting large-scale hydropower projects to increase renewable energy mix and strengthen energy security. Factors like favorable policies, increasing private sector investments and expanding transmission infrastructure are further fueling the APAC market growth.
Europe Hydropower Generation Market
Europe is another major geographical region concentrated with hydropower generation assets worldwide. Countries like Norway, Switzerland, Italy, France and Sweden have harnessed their river networks very well for electricity generation over the years. Ongoing initiatives to upgrade aging plants and build new run-of-river and small hydro plants are driving ongoing market development across Eastern Europe. Furthermore, initiatives like European Green Deal aims to increase the share of renewable energy sources. This would support the growth of hydropower generation market in Europe and help numerous regions transition to clean energy based economy.
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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.
The major players in the hydropower generation market include Andritz Hydro, GE Energy, CPFL Energia S.A., Sinohydro Corporation, IHI Corporation, Alstom Hydro, China Hydroelectric Corporation, China Three Gorges Corporation, ABB Ltd, and Gerdau S.A. Other players operating in this market are The Tata Power Corporation, OJSC Bashkirenergo, EDP Energias do Brasil SA, Companhia Energetica De Minas Gerais, and Ertan Hyropower Development Company, Ltd.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Hydropower Generation Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/hydropower-generation-market/download-sampleMarket DynamicsThe market is mainly driven by the rising demand for clean energy around the world.
In addition to this, rapid industrialization and urbanization, especially in developing regions such as India and China, have propelled the demand for electricity.
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 the carbon footprint has boosted the demand for renewable energy sources for power generation.
Due to this, various hydropower generation projects have been established globally, especially in Asia-Pacific, to meet the rising demand for renewable power.
Green energy is renewable electricity, Solar energy can be easily generated and utilized even on very small scales, however, wind power and hydropower generation are relatively a bit tricky.
