The electricity generated by hydropower is known as hydroelectricity. Hydropower is produced in 150 nations, with the Asia-Pacific accounting for nearly 33% of the global hydroelectricity production. China is the largest hydroelectricity producer, with 920 TWh produced in 2013, accounting for 16.9% of domestic power consumption
Hydroelectricity has a moderately low cost, making it an opportunistic source of renewable energy. The hydro station does not use water, unlike coal or gas plants. With a dam and reservoir, it is also a flexible source of electricity, as the amount produced by the station can be rapidly increased or decreased to meet the changing energy demands. When a hydroelectric power plant is built, no immediate waste is produced, and the output level of ozone- depleting substances is usually significant lower than that of photovoltaic power plants and unquestionably petroleum -fueled energy plants.
Market Scope and Structure Analysis
Report Metric | Details |
Market Size Available for Years | 2020–2030 |
Base Year Considered | 2020 |
Forecast Period | 2021–2030 |
Forecast Unit | Value (USD) |
Segments Covered | Capacity, Type, Component, and Region |
Regions Covered | North America, Europe, Asia-Pacific, LAMEA |
Companies Covered | Voith, ANDRITZ, GE Renewable Energy, Toshiba, Siemens, BHEL, Gilbert Gilkes & Gordon, and Flovel. |
COVID-19 Impact Analysis
- The lockdown situation has resulted in the shutdown of various manufacturing industries with high electricity consumption, causing decline in demand and disrupting the supply chain.
- Residential electricity consumption is increased due to the COVID-19 outbreak globally which has fostered the growth of the hydroelectric market.
- The hydropower plants construction was temporarily halted during the pandemic, resulting in delayed production process, which in turn affects the growth of the hydroelectricity market.
Top Impacting Factors
Some of the driving factors include a shift toward cleaner fuel sources and plans to increase the proportion of renewable energy in the absolute power generation mix across the globe including all the major developed and emerging economies. The market is also being driven by extensive investment in hydropower projects across several countries over the last few decades. For instance, the Lao government in January 2019 began the construction of 12 hydropower dams. However, high capital investment and operational expenditures, as well as a long gestation period are anticipated to hinder the market growth in the forecasted period.
Market Trends
- , Voith Hydro opened a branch office in Kathmandu, Nepal in September 2019. Voith Hydro, which has been supplying hydropower equipment to Nepal since 1968, embarked on this extension to fabricate its client base and provide quality assistance.
- VolgaHydro, Russian subsidiary of Voith opened a new production plant in Balakovo, Russia in June 2019. This new venture, would include maintenance services and the supply of equipment to large and small hydropower plants.
- , GE Renewable Energy began offering secluded turbines for mini- hydropower in July 2019, following its new application with Energy. The mini hydro power units were available in 10 kW and 15 kW measures and they could be combined to provide arrangements up to 1 MW.
Key Segments Covered
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Key Benefits of the Report
- This study provides an analytical depiction of the hydroelectricity industry as well as current trends and future projections to estimate the potential investment opportunities.
- The report includes data on key drivers, restraints, and opportunities as well as a detailed analysis of the hydroelectricity market share.
- The current market is quantitatively analyzed from 2020 to 2028 to highlight the growth scenario of the hydroelectricity market.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed hydroelectricity market analysis based on competitive intensity and the competition that will take shape in coming years
Hydroelectricity Market Report Highlights
Aspects | Details |
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Key Market Players | NuVintron, Hitachi, Voith, ABB, BHEL, Siemens, Andritz, General Electric, CH2M Hill, Alstom |
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