Global Small Hydropower Market Report 2024, Forecast To 2033
28 Mar, 2024
The small hydropower market has demonstrated steady growth, with its size expanding from $2.94 billion in 2023 to $3.04 billion in 2024, registering a compound annual growth rate (CAGR) of 3.4%. This growth in the historic period can be attributed to factors such as the abundant supply of water resources, initiatives for rural electrification, and growing environmental concerns favoring renewable energy sources. The versatility and relatively low investment costs associated with small hydropower projects, coupled with financial incentives, have also contributed to this upward trend. Moving forward, the market is expected to maintain its steady growth trajectory, reaching $3.38 billion in 2028 at a CAGR of 2.7%. Key drivers of growth in the forecast period include the escalating demand for clean energy sources and efforts to mitigate greenhouse gas emissions. Additionally, the increasing installation of small hydropower plants, driven by industrialization trends, is expected to bolster market expansion. Emerging trends such as the integration of IoT with hydropower systems, the adoption of digital technologies, and ongoing technological advancements are poised to further shape the market landscape, facilitating geographical expansion and enhancing operational efficiency.
Global Small Hydropower Market Key Driver
The increasing demand for clean energy is poised to fuel the expansion of the small hydropower market in the coming years. Clean energy technologies aim to minimize environmental impact, particularly in terms of greenhouse gas emissions and air pollution. Small hydropower systems, devoid of emissions during operation, contribute to cleaner air and a reduced carbon footprint. For instance, according to the International Energy Agency's May 2022 report, global renewable capacity is forecasted to rise by 8% from 295 gigawatts in 2021 to 320 gigawatts in 2022. This surge underscores the growing significance of small hydropower in meeting the global demand for clean energy. Thus, the increasing demand for clean energy serves as a driving force behind the growth of the small hydropower market. The 2023 market size for small hydropower is expected to mirror this growth trajectory, continuing into 2024 and 2028.
Get A Free Sample Of The Global Small Hydropower Market ReportGlobal Small Hydropower Market Segments
The small hydropower market covered in this report is segmented –
1) By Type: Micro Hydropower, Mini Hydropower
2) By Capacity: Up to 1 MW, 1–10 MW
3)By Application: Civil Construction, Power Infrastructure, Other Applications
4) By End-User: Commercial, Utility-Scale
By Geography:The regions covered in the small hydropower market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia Pacificwas the largest region in the small hydropower market in 2023. Asia Pacificis expected to be the fastest-growing region in the forecast period. The regions covered in the small hydropower market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Small Hydropower Industry Players
General Electric, Siemens Energy, Toshiba Corporation, ANDRITZ, SNC Lavalin Group, Voith GmbH & Co. KGaA, Mavel, a.s., Flowserve Corporation, BHEL, Kolektor Turboinstitut, FLOVEL Energy Private Limited, Mannvit Engineering, VAPTECH, Canyon Hydro, Ganz EEM, ATB Riva Calzoni, Natel Energy, Inc., Canadian Hydro Components, Hitachi Mitsubishi Hydro, B Fouress, HydroCoil Power, Hydro Green Energy, Rentec Renewable Energy Technologies, Gilkes Hydro
Get The Full Global Small Hydropower Market ReportSmall Hydropower Market Overview
Small hydropower refers to the generation of electricity through the use of hydropower systems that typically have a capacity of less than 10 megawatts (MW). These systems harness the energy from flowing or falling water to generate electricity on a smaller scale than larger hydropower plants.
Small Hydropower Global Market Report 2023 provides data on the global small hydropower market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The small hydropower market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.