Global Hydroelectric Power Generation Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Hydroelectric Power Generation Market Introduction:
“The global Hydroelectric Power Generation market size is expected to be worth around US$ 234.5 million by 2021 from US$ 141.2 million in 2031, growing at a CAGR of 5.19% during the forecast period 2021 to 2031.”
This report is based on synthesis, analysis, and interpretation of information gathered from various sources regarding the target market. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts, with the primary objective being to provide a holistic view of the target market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as current impact, in order to make informed forecasts about the scenarios in the near and distant future.
Hydroelectric power generation is a process of producing electrical energy with the help of force of moving water. It is a renewable form of energy as water is inexhaustible and the water on earth surface is replenished continuously by a natural process called precipitation. In addition, hydropower generation finds applications in various industries.
The global hydroelectric power generation market is expected to register a considerable growth rate, owing to increasing demand for energy across the world. Rapid industrialization and urbanization has led to huge energy consumption globally. There is a continuous demand for energy sources, which is requiring demand for renewable and inexhaustible sources of energies across the globe, leading to high demand for hydropower, which in turn is expected to drive growth of the global hydroelectric power generation market, over the forecast period.
In addition, continuous depletion of fossil fuels has enabled organizations to focus on conventional sources of energy, thereby complementing growth of the hydroelectric power generation projects, leading to growth of the global market. In addition, hydroelectric power is most economical source of generating energy, and is one of the major factors driving growth of the global hydroelectric power generation market.
Furthermore, during the hydroelectric power production, there is zero or negligible GHG (Greenhouse Gases) emission or toxic waste discharged in the environment. Therefore, increasing awareness on account of environmental concerns is expected to drive growth of the global market over the projected time period. Others fields, where hydroelectric power has proven beneficial include water supply, drought control, irrigation, etc., which is expected to drive demand for this form of energy, leading to growth of the global market.
However, huge cost associated with the construction of favorable infrastructure and also equipment installation is expected to have a negative impact on growth of the global hydroelectric power generation market to a certain extent.
Existing plants can be restructured with turbine and generator advancements, operational developments, and adding generating capacity. Moreover, flood-control dams not fitted out for electricity production could be modernized with generating equipment. Such developments are expected to drive market growth and also create revenue opportunities for the players in the market over the estimated time period.
Analysis by Region:
Asia Pacific market currently accounts for maximum revenue share in the global hydroelectric power generation market, owing to high electricity consumption by the developing economies present in the region.
China market in Asia Pacific is the highest contributor towards revenue share, owing to insufficient fossil fuel reserves and preference of government to be energy independent economy. North America market has the second highest revenue share in the global market, owing to governments support and initiatives to promote environmental friendly sources of energy.
Global Hydroelectric power generation Market Segmentation:
Segmentation by Capacity:
Segmentation by Technology:
- Pumped Storage Plants
Segmentation by End-use Application:
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Alstom Power
- GE Energy
- Tata Power Company
- Hydrochina International
- CPFL Energia
- Sinohydro Corporation
- Agder Energi SA.
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