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Hydropower Market Size

Report ID: GMI1602
Published Date: Jun 2023
Report Format: PDF

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Hydropower Market Size

Hydropower Market size surpassed 1,385.7 GW in 2022 and is projected to grow at a CAGR of 1.7% from 2023 to 2032. There is a growing emphasis on sustainable hydropower development, focusing on minimizing environmental and social impacts. Retrofitting and modernization efforts aim to optimize power generation, improve safety features, and comply with evolving regulations, which will stimulate the deployment of new hydropower installations.

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Moreover, decentralized hydropower projects, including micro-hydropower, are being implemented to provide clean electricity to remote communities. These systems often use small-scale turbines and are designed to be environmentally friendly and socially beneficial, which is further set to bolster the industry growth globally.

Hydropower Market Report Attributes
Report Attribute	Details
Base Year:	2022
Hydropower Market Size in 2022:	1,385.7 GW
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	1.7%
2032 Value Projection:	1,636.2 GW
Historical Data for:	2019 to 2022
No. of Pages:	120
Tables, Charts & Figures:	185
Segments covered:	Capacity
Growth Drivers:	Positive outlook towards renewable energy Growing demand for electricity Favorable government initiatives
Pitfalls & Challenges:	High initial investment for large hydropower

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Large-scale hydropower projects can have significant environmental impacts, including habitat alteration, disruption of aquatic ecosystems, and the potential for greenhouse gas emissions from the decomposition of organic matter in reservoirs. The construction of dams, reservoirs, and associated infrastructure involves substantial costs, making it financially challenging for some countries or investors. High capital costs can also lead to project financing difficulties and longer payback periods. However, international cooperation and investment in hydropower market continue to play a significant role in increasing the product deployment.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of hydropower exceeded 1,385.7 GW in 2022 and is projected to register 1.7% CAGR during 2023 to 2032. Constant rretrofitting and modernization efforts which aim to optimize power generation, improve safety features, and comply with evolving regulations will stimulate the industry growth.

The hydropower industry from mini capacity segment is anticipated to observe 6.1% growth rate from 2023-2032, backed by an increasing demand for decentralized energy solutions, particularly in rural and remote areas where grid access is limited.

Asia-Pacific region has a high potential for hydropower development, driven by its abundant water resources and growing energy demands. With increasing awareness of environmental and social impacts, there is a growing emphasis on sustainable regional development.

Voith, ANDRITZ HYDRO, General Electric, China Three Gorges Corporation, Alfa Laval, Metso, China Yangtze Power, Hydro-Québec, RusHydro, Agder Energi, Duke Energy, Georgia Power, Ontario Power Generation, Stat Kraft, and ABB.