REPORT HIGHLIGHT
Hydropower Plants Market size was valued at USD 243,985.1 Million in 2022, expanding at a CAGR of 3.1% from 2023 to 2030
Hydropower plants, also known as hydroelectric power plants, are facilities that generate electricity by harnessing the kinetic energy of flowing or falling water. They utilize the potential energy stored in water at a higher elevation to drive turbines, which then convert the water's energy into mechanical energy. This mechanical energy is further transformed into electrical energy through the use of generators. Hydropower plants can vary in size and complexity, from small-scale installations in rivers and streams to large dams and reservoirs that can generate significant amounts of electricity
Hydropower Plants Market - Market Dynamics:
- Escalating global demand for renewable energy sources, the increasing support from governments for hydropower projects to propel market demand
- The expansion of the hydropower plant market is propelled by several factors, including the escalating global demand for renewable energy sources, the increasing support from governments for hydropower projects, and the growing popularity of micro hydropower plants due to their low maintenance and easy replacement. However, the high initial construction costs may pose a restraint on the market's growth. The rising utilization of kinetic energy from flowing water for electricity generation and the emergence of small hydropower projects create significant growth prospects for stakeholders in the hydropower plant market. Nevertheless, the market may face challenges due to international disputes concerning water management and uncertainties related to the impact of climate change on local hydrological conditions.
Hydropower Plants Market - Key Insights:
- As per the analysis shared by our research analyst, the global Hydropower Plants market is estimated to grow annually at a CAGR of around 3.1% over the forecast period (2023-2030)
- The Hydropower Plants industry is projected to grow at a significant rate due to escalating global demand for renewable energy sources, the increasing support from governments for hydropower projects
- Based on component segmentation, Solutions was predicted to show maximum market share in the year 2022
- Based on capacity segmentation, small hydropower plant segment was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
Hydropower Plants Market- Segmentation Analysis:
- The Global Hydropower Plants Market is segmented on the basis of Component, Capacity, Type, and Region.
- The market is divided into two categories based on Component: Solutions and Services. In 2022, In the forecast period, the Solutions segment is expected to achieve the highest Compound Annual Growth Rate (CAGR) based on its components. This growth is propelled by an increasing demand for turbine and power generator solutions, which contribute to efficient power generation. Additionally, there is a surge in demand for hydropower generators that ensure improved performance to meet site conditions and customer requirements. Implementations of maintenance solutions for hydropower plants and the deployment of plant control and protection systems further fuel the growth of this segment.
- The market is divided into six categories based on Capacity: Pico, Micro, Mini, Small, Medium, and High. The Small Hydropower Plants segment is projected to experience the highest CAGR during the forecast period. The growth of this segment is driven by several factors, including the growing application of small hydropower plants for rural electrification, significant investments made by governments in small hydropower projects, and increasing implementations of small hydropower plants in developing economies. Moreover, the reduction in renewable energy costs and the decrease in infrastructure expenses play a role in promoting the rapid production of small hydropower plants.
Hydropower Plants Market- Competitive Landscape:
- In the hydropower plants market, companies are actively involved in various activities to capitalize on the growing demand for renewable energy sources and advancements in hydropower technologies. Major players in the industry are investing in research and development to enhance the efficiency and reliability of hydropower plants. They are also focusing on the development of innovative solutions, such as advanced turbines and power generators, to improve power generation capabilities.
- Additionally, companies are exploring opportunities for international partnerships and collaborations to expand their market presence and gain access to new markets. Furthermore, there is a growing trend towards the implementation of smart and digital solutions for predictive maintenance and plant control to optimize performance and ensure sustainable operations in hydropower plants.
Recent Developments:
In August 2022, Nepal entered into an agreement with the Indian company NHPC to construct a hydroelectric plant in the western region of the country, following the withdrawal of a Chinese firm from the project, as confirmed by officials. Nepal has taken steps to invite foreign players to participate in the development of its rivers, recognizing their immense potential to generate over 42,000 megawatts of hydroelectric power. By allowing foreign investments, Nepal aims to boost its economy and address its trade deficit, which stands at over $13 billion, by exporting electricity generated from its abundant hydropower resources.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL HYDROPOWER PLANTS MARKET KEY PLAYERS
- Bharat Heavy Electricals Limited
- Flovel Energy Private Limited
- General Electric Company
- Natel Energy, Inc.
- Siemens Energy AG
- SNC-Lavalin Group
- Toshiba Corporation
- Voith
- KOLEKTOR GROUP
- Canadian Hydro Components
- Hitachi Mitsubishi Hydro Corporation
- ABB Ltd
GLOBAL HYDROPOWER PLANTS MARKET, BY COMPONENT
GLOBAL HYDROPOWER PLANTS MARKET, BY CAPACITY
- Pico Hydropower Plants (Up to 4.99KW)
- Micro Hydropower Plants (From 5KW to 99KW)
- Mini Hydropower Plants (From 100KW-499KW)
- Small Hydropower Plants (From 500KW to 999KW)
- Medium Hydropower Plants (From 1MW to 10MW)
- Large Hydropower Plants (Above 10MW)
GLOBAL HYDROPOWER PLANTS MARKET, BY TYPE
- Impoundment Power plants
- Diversion Power plants (Run-of-River)
- Pumped Storage Power plants
GLOBAL HYDROPOWER PLANTS MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA