Overview and Scope
Hydropower, or hydroelectric power is a renewable energy source that harnesses the energy of flowing or falling water to generate electricity. This process involves the conversion of the kinetic energy of water into mechanical energy, which is then transformed into electrical energy through the use of generators. It can be generated from various sources, such as rivers, streams, dams, or even tidal movements in oceans.
Sizing and Forecast
The hydropower market size has grown strongly in recent years. It will grow from $230.39 billion in 2023 to $245.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to industrial revolution, government policies, environmental concerns, energy security.
The hydropower market size is expected to see strong growth in the next few years. It will grow to $303.85 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to energy transition, renewable energy policies, climate change adaptation, water resource management. Major trends in the forecast period include modernization of existing infrastructure, hybrid hydropower systems, small-scale and micro hydropower, digitalization and smart grid integration.
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/hydropower-generation-global-market-report
The hydropower market covered in this report is segmented –
1) By Type: Large Hydropower, Small Hydropower
2) By Component: Civil Construction, Electromechanical Equipment, Electric, Power Infrastructure, Others Components
3) By Application: Residential, Commercial, Industrial
Asia-Pacific was the largest region in the hydropower market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hydropower market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample_request?id=2737&type=smp
Major Driver Impacting Market Growth
The rising demand for electricity is expected to propel the growth of the hydropower market going forward. Electricity is a form of energy resulting from the movement of charged particles, typically electrons. The increasing digitization of several sectors, including communication, information technology, and smart technologies, leads to a higher need for electricity to power servers, data centers, and communication networks. Hydropower is a renewable energy source, relies on the continuous flow of water, which is replenished by natural processes such as rainfall and snowmelt. This makes hydropower a sustainable and environmentally friendly option for electricity generation. For instance, in 2022, according to the data published by Our World in Data, a UK-based scientific online publication organization, US electricity demand increased from 4,192.9 TWh (terawatt-hour) in 2021 to 4,338.1 TWh (terawatt-hour) by 2022. Therefore, the rising demand for electricity is driving the growth of the hydropower market.
Key Industry Players
Major companies operating in the hydropower market are Électricité de France S.A., Siemens AG, General Electric Company, Iberdrola S.A., ABB Ltd., Georgia Power Company, Duke Energy Corporation, Vattenfall AB, ALSTOM Holdings, Statkraft AS, Hydro-Québec, Verbund AG, China Yangtze Power Co. Ltd., Andritz AG, China Three Gorges Corporation, Tata Power Company Limited, Ontario Power Generation Inc., Alfa Laval AB, BC Hydro and Power Authority, Brookfield Renewable Partners L.P., Voith GmbH & Co. KGaA, Bharat Heavy Electricals Limited (BHEL), Agder Energi AS, Gilbert Gilkes & Gordon Limited, HydroChina International Engineering Co. Ltd.
The hydropower market report table of contents includes:
1. Executive Summary
2. Hydropower Characteristics
3. Hydropower Trends And Strategies
4. Hydropower – Macro Economic Scenario
5. Global Hydropower Size and Growth
…..
32. Global Hydropower Competitive Benchmarking
33. Global Hydropower Competitive Dashboard
34. Key Mergers And Acquisitions In The Hydropower
35. Hydropower Future Outlook and Potential Analysis
36. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
