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Hydropower Market Trends

Report ID: GMI1602
Published Date: Dec 2024
Report Format: PDF

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Hydropower Market Trends

The global shift towards decarbonization is a key driver for market expansion. As countries work to reduce their carbon emissions and achieve net-zero targets, hydropower is increasingly seen as a crucial part of the energy transition. Many governments are prioritizing renewable energy sources, and hydropower plays a vital role in reducing dependency on fossil fuels. Furthermore, hydropower’s ability to provide base-load power and its flexibility in adjusting to peak demand makes it an ideal complement to other renewable sources, such as solar and wind, helping to stabilize energy grids and ensure reliable electricity supply. Moreover, governments are also working on policies to incentivize eco-friendly hydropower projects, with some countries offering grants, tax incentives, and favorable financing conditions to encourage the construction of more environmentally conscious plants.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The global hydropower industry was valued at 1.43 TW in 2024 and is projected to grow at a 1.8% CAGR from 2025 to 2034, driven by the shift towards renewable energy sources to meet sustainability targets.

The large hydropower capacity is expected to expand at a CAGR of over 0.8% by 2034, as nations aim to meet renewable energy goals and reduce carbon emissions.

The U.S. hydropower market is forecasted to surpass 106 GW by 2034, driven by increasing demand for renewable energy and government initiatives to reduce carbon emissions.

Key players in the hydropower industry include ABB, Agder Energy, Alfa Laval, Andritz Hydro, China Three Gorges, China Yangtze Power, Duke Energy, General Electric, Georgia Power, Hydro-Quebec, Metso, Ontario Power Generation, RusHydro, and Statkraft.