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Hydropower Market Trends

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

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Hydropower Market Trends

Global Hydropower Market Size, By Region,

The hydropower market is increasingly emphasizing sustainable development practices. This includes minimizing the environmental impact of hydropower projects, considering ecological factors during project planning, and implementing measures to mitigate the effects on aquatic ecosystems and local communities. Many existing hydropower facilities are undergoing modernization and upgrades to enhance efficiency, reliability, and output.

Advances in hydropower turbine technology, control systems, and automation are being implemented to optimize the performance of aging hydropower infrastructure. There is a growing interest in micro and small-scale hydropower projects, particularly in rural and remote areas. These projects provide localized power generation, promote energy independence, and contribute to rural electrification efforts. Hydropower market is being increasingly integrated with other renewable energy sources, such as wind and solar, to create hybrid power systems. This integration helps to balance the intermittency of renewable energy sources and provide a more stable and reliable power supply.

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.